The Changing Face of Commercial Property Management

Retail, office and business spaces as well as the leisure and industrial markets are witnessing and responding to significant changes in behaviour. Whilst commuters are returning to the Capital in their droves, (give or take a few temporary retreats thanks to Omicron et Al), the new working model demands a flexible approach.

So how does that impact on the demand for space?

As the workforce is tending now to be based part time in the office and part time at home, businesses are reviewing their needs and either downsizing to smaller footprints with a greater emphasis on flexibility and hot-desking, or alternatively changing their existing layouts to provide a more individualised space. The latter approach aims to make working environments healthier, more comfortable, and more appealing.

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The problem with open offices, however, is that most workers don’t like them. Research has found workers in open offices experience more uncontrolled interactions, higher levels of stress and lower levels of concentration and motivation.”
Source: Forbes

A more creative approach

To attract and keep workers (especially the younger generations) in the workplace, it’s now beneficial to enhance the surroundings. Intimate booths, breakout rooms, sofas and plants and a generally more inventive take on the interior space is the future of a happy office.

Another approach is to double up with another business: sublet and share to maintain your central London base and postcode, whilst remaining economically viable. Whatever the answer, a ‘creative’ review can be helpful, it’s time to think outside of the office box.

Flexibility and the willingness to change – and re-purpose

On the retail side, demands have fluctuated considerably, with once unshakeable retail giants diminishing as their online counterparts take centre stage. The traditional High Streets, once the cornerstone of everyday life is having to morph rapidly to keep pace and set to become a mix of residential conversions and smaller boutique offerings, fashion, coffee shops and bistros.

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We need to repurpose the existing buildings in our town centres to create the right balance of homes, workspaces, retail, leisure and services operating side-by-side.”
Source: Property Investor Today

Adapting for the future – rethinking your property

If you’re standing at a crossroads pondering what to do next, or looking for some constructive suggestions for the future of your commercial space, why not give us a call? We can help landlords and commercial property owners to rethink their buildings and spaces to appeal to the landscape and audiences of 2022.

We take a responsive and proactive approach to commercial property management and offer all the usual services as standard:

• Rent collection & client accounting
• Service charge administration
• Site staff engagement and supervision
• Tenant Liaison
• 24/7 emergency support
• Sustainability
• Subletting
• Commercialisation
• Concierge services
• Dilapidations

How we’re different

We cover the key bases as a matter of course, but we go further. Our service is bespoke and strategic. We learn about you and your property/portfolio so we can help to position you as strongly as possible to attract the right tenants – and keep them. We’re on top of the changing face of post-pandemic London and we’re ready to act.

To explore the possibilities, speak to our team on: 020 3637 7968 info@mihproperty.co.uk