Office space is the place where business is done – but it’s often the last thing on the minds of managers and entrepreneurs.
The layout, atmosphere and facilities in your office have a marked impact on your team’s productivity and the impression your business makes on clients.
With that in mind, isn’t it time you assessed your premises and optimised them for success? Here’s how.
The future of office space is here
Office spaces of tomorrow will be places where technology has been fully adopted, connectivity is fast, and collaboration flows naturally. Many commercial property tenants are demanding those kind of spaces today, and building owners are moving fast to accommodate them.
Collaboration is by far the biggest idea in 21st-century management, and modern workplaces are being designed with information sharing in mind.
Flexible workspaces, a coffee shop atmosphere, and different areas with varying degrees of privacy are just some of the collaboration-boosting features that contemporary businesses are embracing.
Giving your property the edge in a slow market
With a sluggish economy and continuing electricity supply worries, most South African cities are recording muted demand for commercial property this year.
Fortunately, Cape Town is a rare exception.
In the last quarter of 2018, the national office vacancy rate stood at 11.1%, with Cape Town well below the average at 7.8%. Joburg reported a higher-than-average vacancy rate of 12.3%.
The vacancy rate in Cape Town is a good sign, but even 7.8% is higher than ideal.
- To attract tenants in this type of market, building owners will need to pull out the stops and make their office spaces irresistible to a new generation of entrepreneurs.
- Choosing niche clients, especially those in the tech, boutique finance, or creative sectors, is a good strategy for ensuring healthy building occupancy rates.
- Sticking to similar clients (with similar tastes and mindsets) will also ensure that your office space appeals to tenants and that they stay the course to renew their leases.
If you’d like to list your commercial property in Cape Town and attract the right type of tenant, contact us today. Our area specialists are on hand to assist you.