The recent coronavirus pandemic is far from over and as economies around the world start to reopen many businesses are having to operate in a vastly different economy.
As companies change their management and HR strategies to stay competitive in the post-COVID-19 world the commercial property sector will have to adapt quickly to stay ahead of the curve.
If you’re a commercial property tenant and find yourself needing to downsize or if you were searching for office space before the pandemic broke out and would like to rethink your requirements, read on.
In this article, we’ll take a look at the changing office space landscape and give you some pointers on how to budget for commercial property in the post COVID era.
Emerging successfully from lockdown
As businesses around the world have found out, opening your doors again after months of lockdown and limited trading can be a serious challenge.
- Social distancing measures are likely to be in place for the next while – with no reliable timeframe in sight.
- Many businesses have downsized their physical premises as they opt for remote working to cut costs and ensure the safety of their teams.
As a result, many tenants find themselves needing far less space than they used to and the place they do require may need to be modified to comply with social distancing protocols.
A company that once occupied several hundred square meters of office space may now require less than half of this amount and commercial building owners are receiving an increasing number of requests for renovations.
- Innovative commercial spaces are acting quickly to make the buildings sustainable and safe in a world where disease prevention has become everyone’s first priority.
- Plastic screens and cubicles, hand sanitizer stations and temperature checks carried out by security staff on building tenants and visitors are just some of the features that tenants are demanding post-lockdown.
How to budget for commercial property in the post COVID era
There’s no doubt that the current economy and social conditions brought about by the coronavirus will pose several challenges to entrepreneurs in the coming years.
Many of Cape Town’s prime office buildings are newly constructed and feature modern ventilation and air consistency as well as open spaces in green areas that are ideal for social distancing.
You may be able to secure premium office space at excellent rates in the coming months – as long as you are clear about how much space you really need and what kind of budget your business can comfortably afford in these unusual times.
By working proactively with a commercial property agent you can ensure you find an office unit which suits your needs and helps protect you and your staff from COVID-19 and any future pandemics which may occur.
Contact the commercial space team today for an in-depth needs assessment and to view our diverse portfolio of office space in the greater Cape Town area.