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Record-breaking office rentals over 2017 in Manchester alone highlights why it can be so important for investors to complement, optimise and enhance the potential of their office space by working with an experienced property management provider.
According to Deloitte’s latest crane survey, there is an astonishing 1.5 million square-feet of office space currently under construction across the city. Deloitte also reports that close to 1 million square-foot was delivered in Manchester last year, a 75% increase on the levels seen in 2016.
There’s a split between new builds and refurbishments of 72/28 according to their report, which also highlights that schemes with planning permission “likely to start” this year or early in 2019 totalling approximately 3.5 million square-feet.
With so much commercial investment heading Manchester’s way now and into the future, commercial entities can make much better use of the space available to them by partnering with property management services that service assets in clever, innovative and creative ways.
What property management trends should investors be aware of?
Professional property management services should be about more than looking after bricks and mortar and collecting rent.
Property management trends are going beyond basic services; the best management services work with developers, asset managers, investors and others to create exceptional workspaces, build strong tenant relationships, improve operational standards and much more besides.
With so much investment coming into the city, those that invest in and work closely with the right property management company could see their investments go further than they think. But what does property management in the city look like for the year ahead, and what trends should they look out for?
A lot of modern businesses are ‘thinking outside the cubicle’ with Jessica Bowles of Bruntwood recently highlighting how vastly the global office landscape is evolving from as little as a decade ago. Female-only co-working spaces are gaining prominence in the USA and Canada, she writes, while combined restaurant and office spaces are also rising in popularity.
Property management that looks after your assets
Those examples may be a bit extreme for your wants and needs, especially for businesses at different stages of growth. Let’s return to Manchester; there are currently more than enough examples in the city of rising trends reflecting the way modern businesses are working and making the most of their office space, such as:
- Providing open, collaborative working spaces for professionals to network concurrently; especially popular for business in the tech industry.
- More tech-focused office spaces to help make people’s working lives easier by providing them with fully-connected meeting rooms and more.
- Smaller spaces to provide more flexible areas of working, particularly for start-ups who are constantly on the move and want to reduce overheads.
- Changing the traditional reception area into more vibrant and personalised meeting spaces, acting as a hub gateway to businesses.
The traditional working space is changing at a phenomenal rate. Working with the right property management company not only leaves your investment in safe hands, but enhances and modernises it to make it incredibly attractive and beneficial to the people who use it.
Crowd UK works with commercial property owners to maximise and optimise the potential of the working spaces they own. Contact us now for more information.