Real Asset Insight #6 June 2020

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Insight & Strategy – ProptechData collection will be crucial topost-pandemic office environmentWorkers and property owners will want more informationabout the spaces they work in – and proptech can helpSource: AdobeStock/BillionPhotos.com‘People wantreliableinformation inreal time ondensity and airquality in theiroffice building.’Tom Wallace,Re-LeasedThe office sector can learn from theexperience of retailers as it adapts tochanges brought about by the pandemic,experts told Real Asset Insight at June’sproptech briefing.‘Retail has worked hard at offering change andcreating experiences in order to bring peopleback to the shops,’ says Michelle Buxton,founder & managing director of Toolbox Group.‘Now the office sector has a similar challengebecause it needs to give people a good reasonto go back to the workplace and feel safe.’The global remote working experiment duringthe coronavirus epidemic has been moresuccessful than anyone expected, which willlead to profound changes in the office sectorand even a rethinking of that constitutes anoffice – or indeed work itself.LESS BUT BETTER SPACEThere is an analogy with the retail sector, whichhad to reinvent itself to deal with the challengeof online shopping. The key is to offer less butbetter space to customers or workers.‘Fewer people will need an office, so we needto make more people want an office,’ explainsAntony Slumbers, CEO of PropAI. ‘If space is thehardware, you need to add software, which isservices. Their range and quality will be crucial.If you create the best user experience of yourspace you’ll maximise revenue.’This is where proptech can help, as it can collectand analyse data and provide solutions.‘We’re going into an environment whereoffices are not needed,’ says Tom Wallace,founder & CEO of Re-Leased. ‘In order to feelsafe, people want reliable information in realtime on their phones on density and air qualityin their office building.’In New Zealand, where fear of the virus is nowextremely low, ‘people want to go back to theoffice, but they have also learnt the value ofworking from home, so we expect that willcontinue at least one day a week in future’,adds Wallace.According to a snap poll by Real Asset Mediaamong market experts at the online briefing,most respondents believe that only half of theirteam will be working in the office full time by theend of the year. A quarter think the percentageof home workers could be as high as 80%.The challenge to bring people back will continuefor the office as well as for the retail sector.‘In the UK when shops opened again therewere queues the first day but now they areempty again,’ says Buxton. ‘Across Europe,however, they are back to 80% of footfallcompared to before the crisis, so it’s not alldoom and gloom. But there’s a long way togo to get back to normal.’60 Real Asset Insight | Issue 2 July 2020
DON’T MISS THE NEXT ISSUEResearch, Trends, Strategy, Insight, Thought Leadershipl Next issue July/August 2020l Distribution Free online distribution to Real Asset Media readers, printcopies to Real Asset Media’s exclusive list of top decision-makers inpan-European and global real estate, in addition to essential retail players suchas brands, retail companies, tenants, developers, advisors and many morelRe-opening and perspectives - Life after Covid-19lRetail, leisure, F&B, experiential retaillBrands, buildings, placemaking, communitylEuropean retail investment, Food-anchored retailrealassetINSIGHTlNext issue October 2020lDistribution Free online distribution to Real Asset Media readers,print copies to Real Asset Media’s exclusive list of pan-European andglobal top-decision makers as well as capital sourceslSpecial distribution EXPO Real Hybrid Summit, PROVADA(if events take place)lREALX Global Reports and insights from the first edition of the global real estate online fairlSpecial focus The future of officeslTopics Listed Real Estate, Germany Investment, Netherlands investmentTo share your content, insights and research or advertise please contact:Editorial & ContentGroup PublisherRichard Bettsrichard.betts@realassetmedia.com+44 (0) 755 7373 134Advertising & SponsorshipDirector Client RelationsFrank Beinbornfrank.beinborn@realassetmedia.com+49 152 54 87 86 68Managing PartnerThorsten Herbertthorsten.herbert@realassetmedia.com+49 170 47 98 793Taking you beyond the headlines
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INTRODUCTION6 Talking PointsThought
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