{"id":5496,"date":"2023-09-08T15:27:50","date_gmt":"2023-09-08T15:27:50","guid":{"rendered":"https:\/\/www.yardikube.co.uk\/?p=5496"},"modified":"2026-04-02T12:03:05","modified_gmt":"2026-04-02T12:03:05","slug":"is-the-traditional-office-dead-what-does-the-future-of-the-office-look-like","status":"publish","type":"post","link":"https:\/\/www.yardikube.com\/en-gb\/blog\/is-the-traditional-office-dead-what-does-the-future-of-the-office-look-like\/","title":{"rendered":"Is the Traditional Office Dead: What Does the Future of the Office Look Like?"},"content":{"rendered":"\n

The future of the office as we know it is still unclear. With some businesses such as HSBC wanting to reduce its global office space by 40%<\/a> due to hybrid working and cost-cutting and others, such as JPMorgan, Apple and Google<\/a>, mandating a return to the office \u2013 what does this mean for commercial real estate? The Unispace Global Workplace Insights report, Returning for Good<\/a>, surveyed 14 industries and 17 countries worldwide and found that 51% of workers globally are reluctant to return to the office, down from 64% in the 2021 report. Based on the survey, \u201chybrid is the most common model for firms globally, with 50% of the workforce indicating that they are in the office four or more days, with a weekly average of three and a half days.\u201d<\/p>\n\n\n

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The report found that the relationship employees have with the office has changed as people prefer to complete collaborative work in the office and individual, focus or admin work at home \u2013 but they need a specific reason to go to the office. As Andrew Mawson, managing director of workplace consultancy AWA states in the Guardian article<\/a>, \u201cHSBC is showing foresight by using the move to hybrid working to allow it to have a smaller, greener, more flexible headquarters that is more convenient for employees.\u201d<\/p>\n\n\n\n

The traditional office is not dead, it\u2019s evolving. Real estate has traditionally been driven by asset class and the industry has built its business model around the different streams such as residential, offices, or retail. But now, it\u2019s not that simple. Now we can look at a building and see what the best option is, which is far more likely to be a combination. The building of the future as Yardi sees it includes commercial, residential and coworking under one roof.<\/p>\n\n\n\n

The real estate industry is already seeing a surge of diverse portfolios to help reduce risk and improve their return on investment \u2013 especially after the effects of the pandemic hit specific real estate verticals more than others. So, if you want to grow your economy and real estate investments, you must have a diverse selection of real estate within your portfolio.<\/p>\n\n\n\n

Flexible office space offers businesses multiple benefits, including short-term leases and the ability to scale up or down as needed. By having more options available for flexible workspaces and hybrid working, you can entice both businesses and workers back into the office.<\/p>\n\n\n\n

The Future of Commercial Real Estate<\/strong><\/h2>\n\n\n\n

As more businesses make the move to flexible office spaces, commercial real estate needs to evolve with it. So, where do you begin? Let\u2019s explore the avenues available and how companies can better facilitate the in-demand, hybrid working model.<\/p>\n\n\n\n