The volatility of the office and real estate market to financial ad economic turmoil is well known. Perceptions of investment risk as well as property asset prices mean that decisions about office space focus on the medium to long term. The recent shift to more agile, homeworking has added further uncertainty, resulting in a new wave of office vacancies as 'downsizing' and new collaborative workspaces are created. Positive opportunities to reconsider and repurpose office real estate towards more energy efficient and lower carbon footprints exist to counterbalance negative economic impacts. But to make this sustainable, new business models around yield and pricing may be necessary to ensure a sustainable future for this element of the city centre.
Find out more about research into the impact of change on retailing and consumption in the city centre and its role in the regeneration and revitalization of the area. Click on titles for access.
Local Government Association, 2022 (online report)
Patterns of work and commuting have, and will remain, changed – with implications for the future of high streets. This report from the UK-based LGA offers insights into how high streets and city centres can respond effectively to the shifting patterns of work and other changes brought about by the pandemic.