As the world adapts to a new normal, private real estate is a sector struggling to adapt to changing tenant demand, as attracting hybrid working employees back to the office is no mean feat.
Modernizing and repurposing assets has become key to encouraging people back to workplaces. Where once location was key, now wellness amenities and spaces for social interaction triumph. Assets without such features in today’s market risk becoming stale, even if newly built.
One overarching message is clear: creating value in today’s market involves a lot of adapting. Whether that is offering multi-purpose space or updating an asset so it stands out in the modern marketplace, it is time to get creative to add value – and that will come at a cost.