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CoWorkRev
The coworking revolution is reshaping the real estate industry by addressing the needs of modern occupiers seeking flexibility and community in their workspaces, as opposed to traditional long-term leases from landlords. This trend is fueled by technological advancements and generational shifts that favor activity-based, remote, and collaborative work environments. Corporate organizations are recognizing the need to adapt to these changes to attract talent, enhance employee satisfaction, and improve productivity.
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CoWorkRev
- 1. 0 THE IMPACTOF THE COWORKING REVOLUTION ON THE REAL ESTATE INDUSTRY
- 2. 1 DTZ understandsoccupiers and our property services meet their specific and ever-evolving requirements both locally and globally.
- 3. 2 Why isa company like DTZ interested in Coworking?
- 4. 3 These companiesare searching for hundreds of thousands of square feet of office space
- 5. 4 Coworking providersare bridging the gap between what occupiers want and what ‘traditional’ landlords provide
- 6.
- 7. 6 Traditional landlordsonly offer long leases and require guarantees and company accounts Corporate-style offices are not appealing to certain people and businesses Incubators and accelerators focus on start-ups, and a high churn of occupiers Coworking Spaces offer monthly membership Coworking Spaces resemble trendy coffee shops more than corporate HQs Coworking providers are targeted at an entire class of professionals
- 8. 7 Traditional landlordsonly offer long leases and require guarantees and company accounts Corporate-style offices are not appealing to certain people and businesses Incubators and accelerators focus on start-ups, and a high churn of occupiers Coworking Spaces offer monthly membership Coworking Spaces resemble trendy coffee shops more than corporate HQs Coworking providers are targeted at an entire class of professionals
- 9. 8 Traditional landlordsonly offer long leases and require guarantees and company accounts Corporate-style offices are not appealing to certain people and businesses Incubators and accelerators focus on start-ups, and a high churn of occupiers Coworking Spaces offer monthly membership Coworking spaces resemble trendy coffee shops more than corporate HQs Coworking providers are targeted at an entire class of professionals
- 10. “Rather than thinkingof the office as a place primarily for solitary activity, from which workers occasionally break out to settings intended for social activity, many workers see the office as a sociable setting from which private places 9 for concentration and confidentiality are occasionally sought”.
- 11. 10 The riseof Coworking is a response to several trends that should support strong development in the future Growth of small businesses and indy workers Technology enablement Generational change
- 12. 11 The riseof Coworking is a response to several trends that should support strong development in the future Growth of small businesses and indy workers Technology enablement Generational change
- 13. 12 The riseof Coworking is a response to several trends that should support strong development in the future Growth of small businesses and indy workers Technology enablement Generational change
- 14. 13 The riseof Coworking is a response to several trends that should support strong development in the future Growth of small businesses and indy workers Technology enablement Generational change
- 15. 14 What dothese trends mean for corporate organisations?
- 16. 15 The trendsprompting the growth of Coworking are also prompting changes to the traditional working styles of larger, corporate organisations. This is manifested in the adoption of Activity Based Working.
- 17. 16 Activity BasedWorking to design your office in such a way that it supports work activities optimally, rather than drawing a boundary around its user’s personal spaces.
- 18. 17 “As competitionfor skills increases, and large corporations start to compete directly with media and technology companies to attract young talent, they will start to invest significantly in their workplaces and workplace technology. They will offer better work environments and more flexibility in the same way the technology industry has done in the past ten years.”
- 19. Organisations believe byadopting smarter and more agile methods of work they will greater satisfy and motivate their staff which will aid retention and attraction, but also offer 18 productivity gains and reduced spatial requirements.
- 20. 19 Macquarie’s Bankingand Financial Services Group (BFS) 55% of employees change their workspaces each day. 77% are in favour of the freedom to do so. 90% employee satisfaction. Nothing spent on moving groups and redefining spaces.
- 21. 20 Deutsche Bank 10-30% reduced occupancy costs due to reduction in spatial requirements. Recouping of associated project costs within only 24 months. Improved employee productivity at work. Improved technology in the workplace. Ability to increase employee populations without additional real estate expenses.
- 22. 21 Tokyo London Washington Vornado Realty Partnering with WeWork to redevelop office building in Washington into residential apartments for mobile and collaborative workers. British Land Partnering with Regus to offer Third Place business hubs at retail properties across the UK. The Share Offer accommodation to young professionals in single buildings containing apartments, shared office space, shops and social areas New Coworking ventures globally
- 23. 22 Tokyo London Washington Vornado Realty Partnering with WeWork to redevelop office building in Washington into residential apartments for mobile and collaborative workers. British Land Partnering with Regus to offer Third Place business hubs at retail properties across the UK. The Share Offer accommodation to young professionals in single buildings containing apartments, shared office space, shops and social areas New Coworking ventures globally
- 24. 23 Tokyo London Washington Vornado Realty Partnering with WeWork to redevelop office building in Washington into residential apartments for mobile and collaborative workers. British Land Partnering with Regus to offer Third Place business hubs at retail properties across the UK. The Share Offer accommodation to young professionals in single buildings containing apartments, shared office space, shops and social areas New Coworking ventures globally
- 25. 25 TECHNOLOGY ENABLEMENT& GENERATIONAL CHANGE INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING CHANGES TO THE WAY WE ALL WORK
- 26. 26 TECHNOLOGY ENABLEMENT& GENERATIONAL CHANGE INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING CHANGES TO THE WAY WE ALL WORK
- 27. 27 TECHNOLOGY ENABLEMENT& GENERATIONAL CHANGE INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING CHANGES TO THE WAY WE ALL WORK
- 28.