Over the last 12 months, which saw the vast majority of office space vacated during the pandemic restrictions, investors in the office space property market were rightly concerned that their properties would never fill up again with so many employees now working from home. While this is now becoming a reality as companies start to implement plans for a ‘hybrid, flexible working environment, it isn’t all bad for investors.. Far from it..
Time For Change
As fewer people return to the office it leaves us wondering how the office layout will change. Will many companies look into downsizing or relocating altogether? For the investor, this could be a good opportunity to get in on the ground floor as companies decide to make changes.
There has also been talk around the possibility of offices adapting a more ‘campus style’ approach. In a campus structure workers will be offered a number of facilities such as gyms, coffee shops, restaurants and breakout spaces. The traditional HQ office will find it hard to compete against a new modern approach to the Irish workforce. Companies are now looking for office space that offers enough space for the campus feel and leaves enough room for innovation and imagination.
Investor Outlook
For those investors who may have been worried about their investments in offices due to the demand in working from home, they can now be relieved as the office space isn’t going anywhere but is expanding and presenting more opportunities for present and future investors.
If you are considering investing in property you should always speak to a professional advisor first. As always, if you need any advice or guidance please don’t hesitate to contact us here at KPM Group and we’ll be happy to help in any way we can.
