Workplace Connectivity Driving Demand From Smaller Tenants

The trend is largely being driven by service and technology firms which are seeking fluid fitouts to reflect the way their employees work and to promote collaboration, creativity and efficiency.

Cromwell Head of Property Damian Horton said while open plan offices remain popular, 2016 was all about workplace connectivity.

“For the first time in many years, we are seeing tenants move away from the allure of expansive office space. We are finding that tenants are increasingly interested in smaller, flexible fitouts which are physically and socially connected,” Mr Horton said.

“This trend is representative of the way the business world is evolving and will impact the design and layout of future office buildings.

“Co-working areas and business hubs continue to be an attractive offering for tenants who lease smaller spaces.

“Smaller floorplates with the ability to physically connect between floors as the company grows is a regular discussion point with tenants. Break-out spaces and lounge areas for client and staff use are increasingly incorporated into fitouts to drive collaboration and social interaction.

Cromwell has recently undertaken a refurbishment of its 200 Mary Street building in Brisbane in a bid to attract a new breed of tenants to fill the gap left by the downturn in the resources industry and rationalisation of the Queensland Government's leasing requirements.

“The refurbishment has proven popular with firms looking this connectivity and value – a good location, employee-focused building amenities and smaller, agile floorplates," Mr Horton said.

“The Cromwell Business Hub, operated by Regus, is a complementary service for tenants providing flexibility for firms who occasionally require extra space for client meetings or additional employees.

“LogiCamms is the latest firm to lease at 200 Mary Street and highlights the increasing demand for innovative fitouts - the 1,440 square metre space across two levels will be connected via a vertical floorplan allowing for increased collaboration and productivity.

“Similarly, Cromwell’s headquarters within the building are spread across three adjacent floors which have been fitted out with private stairs to promote connectivity,” he said.