If occupier demand for office spaces weakens, we may see more building owners bringing forward redevelopment plans for their properties, says ...
With ever improving technology and most companies going paperless, working from home could potentially be adopted for an average of 30 per cent of typical office functions, according to Showsuite Consultancy’s assessment.
However, on the flip side, office space planning would now require more floor area per staff than before, with the floor area to employee ratio expected to increase by 20 per cent due to safe distancing measures. Third, more than one million sq ft of office space have been or is due to be withdrawn for redevelopment, further reducing supply. These comprise of space from AXA Tower, Fuji Xerox Towers and Tower Fifteen.
This would, undoubtedly, spell a drop in business for supporting food and retail outlets in the CBD but a relief from a town planner’s perspective.
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