11 November 2020

Offices; looking beyond Covid-19

There is clear downside risk to office space demand over the medium-term resultant from changing worker preferences amplified by the COVID-19 pandemic. However, our expectations are more nuanced than some current commentary. We emphasise key mitigants: opinions over the efficiency of home working are not binary; an expectation that some negative views on the office will soften; and an expectation that changes to preferred days in the office will not have a commensurate impact on space demand.