Factors Influencing Office Building Occupation Decision by Tenants ...

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Yasmin Mohd Adnan, Md Nasir Daudrespondents. A total of 20 panellistsreplied to the second round to yield aresponse rate of 71 percent. The responsefrom the second round demonstratedstrong agreement on the broad findings.Overall, it was felt that a third round ofthe study would not add further to theunderstanding already gained during thefirst and second round and thus the studywas concluded. The results of the studybased on the two rounds are presentedhere.level of crime. The least important factorsare factors of production cost and accessto raw materials and semi-finishedproducts. Considering that the businessesare mainly service orientated in nature inthe central business district, it can beobserved that the responses given bypanels are in tandem with the some ofthe factors highlighted earlier in theliterature although the impact ofagglomeration remains to be exploredfurther.Findings and DiscussionIn the first round, the panellists wereasked to rate the importance of factorsunder each category of economic/monetary consideration, location, leasefeatures, and building features, servicesand management. From the list of factorslisted in Table 1, the panels’ choices ofthe important factors under the variouscategories are presented in Table 2. Sincethere were no changes to the responsesin the second round, the factors identifiedin the earlier round were taken to be theimportant factors.Figures 1, 2, 3 and 4 reveal therelative importance of the various subfactors through the responses obtainedfrom the panel during the first round.The importance of factor: LocationUnder the location category, the top fivefactors that have been rated as importantby the panel of experts are image/branding of the location, access toamenities, accessibility to public transportand terminal, traffic condition and theThe importance of factor: LeaseFeaturesUnder the lease features category, the topthree factors that have been rated asimportant by the panel of experts are:renewal terms, length of the lease andtermination clause. It can be seen that thetenants consider security of tenureimportant to cover the term of theirbusiness activities as in the use of theoffice space.The importance of factor: BuildingFeatures, Services and ManagementUnder the building features, services andmanagement, the top five importantfactors are: responsible management andmaintenance team, security and accesscontrol, car park provision andaccessibility, building image and identityand modern IT and communicationsystems. With the responses givenhighlighting the building offering, it canbe said that the important factors relateto the provision of top quality servicesand image that serve to support theactivities of the tenants.76
Factors Influencing Office Building Occupation Decision by Tenants in Kuala Lumpur city centre – a Delphi StudyTable 2: Summary of the Mean and Standard Deviation of the selected important factorsfor location, lease features, building features, services & management and monetaryconsiderationEvaluation Factors Mean Standard Deviation1. Locationa. Branding/Image 4.3 4.0 0.6b. Access to Amenities 4.3 4.0 0.6c. Accessibility to Public Transportation and Terminal 4.1 4.0 0.7d. Traffic Conditions 4.1 4.0 0.7e. Level of Crime 4.0 4.0 1.12. Lease Featuresa. Renewal Terms 4.1 5.0 0.6b. Length Lease 4.4 4.0 0.6c. Termination Clause 4.1 4.0 0.83. Building Features, Services & Managementa. Security & Access Control 4.6 5.0 0.5b. Responsible Management & Maintenance 4.6 4.5 0.5Team e.g Responsivec. Car Park Provision & Accessibility 4.5 5.0 0.6d. Building Image/Identity 4.5 5.0 0.6e. Modern IT & Communication Systems 4.1 4.0 0.8e.g broadband, wireless4. Monetary Considerationa. Rental Rate 4.8 5.0 0.5b. Total Occupancy Cost 4.4 5.0 0.7c. Cost of Fit Out 4.3 5.0 0.877
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