Mark Bott, head of serviced offices for Colliers International UK, tells Bold co-founder, Caleb Parker, why he believes landlords should incorporate flexspace and coworking footprints in their assets on this third episode of the #WorkBold Podcast.
High six – Bott’s bombs
- Serviced offices now offer the amenities that top tech companies provide to employees. As a result, these operators have become more attractive to corporate occupiers
- Buildings should offer space-on-demand. Some of our corporate customers say to us ‘We will disregard any building that doesn’t have an element of flex’
- Some flexspace operators have diversified into providing front of house staff for buildings. “We all know that the first impression counts in anything”
- Hotels investors have restaurants and bars as an amenity to attract guests. There’s a shift towards the office market when landlords are developing an asset to include space-as-a-service amenities
- The challenge around commercial real estate is in building valuations. Space-as-a-service footprints should range between 10-20% of the gross square feet of the building so it doesn’t affect the valuation.
- The burden of responsibility is shifting from the corporate occupier to the building operator when it comes to providing services to building users.