the coworking revolution and the impact on real estate - sophy moffat, dtz
TRANSCRIPT
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THE IMPACT OF
THE COWORKING
REVOLUTIONON THE REAL ESTATE
INDUSTRY
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DTZ understands occupiers and our property
services meet their specific and ever-evolving
requirements both locally and globally.
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Why is a company like DTZ interested in Coworking?
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These companies are searching for
hundreds of thousands of square
feet of office space
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Coworking providers are bridging the gap between what occupiers want and what ‘traditional’ landlords provide
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Traditional landlords only offer long leases and require guarantees
and company accounts
Incubators and accelerators focus on start-ups, and a high churn of occupiers
Corporate-style offices are not appealing to certain people and businesses
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
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Traditional landlords only offer long leases and require guarantees and
company accounts
Incubators and accelerators focus on start-ups, and a high churn of occupiers
Corporate-style offices are not appealing to certain people and
businesses
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
![Page 9: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/9.jpg)
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Traditional landlords only offer long leases and require guarantees and
company accounts
Incubators and accelerators focus on start-ups, and a high churn of
occupiers
Corporate-style offices are not appealing to certain people and businesses
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
![Page 10: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/10.jpg)
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“Rather than thinking of 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
for concentration and confidentiality are occasionally
sought”.
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The rise of Coworking is a response to several trends that should support strong development in the future
Technology enablement
Generational change
Growth of small businesses and indy workers
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Technology enablement
Generational change
Growth of small businesses and indy workers
The rise of Coworking is a response to several trends that should support strong development in the future
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Technology enablement
Generational change
Growth of small businesses and indy workers
The rise of Coworking is a response to several trends that should support strong development in the future
![Page 14: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/14.jpg)
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Technology enablement
Generational change
Growth of small businesses and indy workers
The rise of Coworking is a response to several trends that should support strong development in the future
![Page 15: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/15.jpg)
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What do these trends mean for corporate organisations?
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The trends prompting 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.
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Activity Based Working 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.
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“As competition for 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.”
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Organisations believe by adopting smarter and more agile methods of work they will greater satisfy and motivate their
staff which will aid retention and attraction, but also offer productivity gains and reduced spatial requirements.
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Macquarie’s Banking and 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.
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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.
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Tokyo
LondonWashington
Vornado RealtyPartnering with WeWork to redevelop office building in Washington into residential apartments for mobile and
collaborative workers.
British LandPartnering with Regus to offer Third Place business hubs at retail properties
across the UK.
The ShareOffer accommodation to
young professionals in single buildings containing apartments, shared office
space, shops and social areas
New Coworking ventures globally
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Tokyo
LondonWashington
Vornado RealtyPartnering with WeWork to redevelop office building in Washington into residential apartments for mobile and
collaborative workers.
British LandPartnering with Regus to offer Third Place business hubs at retail properties
across the UK.
The ShareOffer accommodation to
young professionals in single buildings containing apartments, shared office
space, shops and social areas
New Coworking ventures globally
![Page 24: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/24.jpg)
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Tokyo
LondonWashington
Vornado RealtyPartnering with WeWork to redevelop office building in Washington into residential apartments for mobile and
collaborative workers.
British LandPartnering with Regus to offer Third Place business hubs at retail properties
across the UK.
The ShareOffer accommodation to
young professionals in single buildings containing apartments, shared office
space, shops and social areas
New Coworking ventures globally
![Page 25: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/25.jpg)
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TECHNOLOGY ENABLEMENT & GENERATIONAL CHANGE
INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING
CHANGES TO THE WAY WE ALL WORK
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TECHNOLOGY ENABLEMENT & GENERATIONAL CHANGE
INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING
CHANGES TO THE WAY WE ALL WORK
![Page 27: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/27.jpg)
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TECHNOLOGY ENABLEMENT & GENERATIONAL CHANGE
INCREASE IN FLEXIBLE, COLLABORATIVE, EFFICIENT & REMOTE WORKING
CHANGES TO THE WAY WE ALL WORK
![Page 28: The Coworking Revolution and the impact on real estate - Sophy Moffat, DTZ](https://reader033.vdocuments.us/reader033/viewer/2022052912/55a2081a1a28abd6788b47bd/html5/thumbnails/28.jpg)
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