What best-in-class businesses are doing to gain and retain tenants

The Savills Blog

What best-in-class businesses are doing to gain and retain tenants

Services such as bike storage and shower facilities used to be a point of difference ofr end of trip facilities - now, these types of services are common and expected, so what are best in class buildings doing to get noticed?

Wellness ratings

Australia is now starting to see WELL Certification ratings, which offer a framework to help improve health and well-being in buildings globally. The rating system is the next evolution for sustainable buildings, focusing on the people within the building and looking at the impact of everything from the food in the café to fitness regimes and amenities.

Design of the space

From a design perspective, many buildings are now opting for bespoke or hip finishes including polished concrete, exposed ceilings, ductwork, edgy lighting, a bold colour palette and large breakout lounge areas.

Upgrades in end of trip facilities

End of trip facilities see tweaks and refurbishments every 5 years, from changes in availability ratio of bike racks (based on usage figures) to increases in security around shower zones, varying locker size options, simplifying bike rack options, a focus on ventilation and every possible ‘option up’ to benefit the user.

In conjunction, we’re seeing an increase in specialist companies who offer a range of design, products and services for bicycle storage and change room facilities, targeting the market to ensure they offer the latest trends in EOTF.

‘Sharing is caring’ space

Another of the big trends we’re witnessing is increasing and evolving collaborative work space. These types of spaces are a hub for start-up groups seeking flexibility, from a 1 person desk up to 100 desks with the added bonus of community benefits located in a wide variety of areas from ‘premium’ office towers to ‘warehouse’ conversions. Examples of the co-working space include WeWork, Dexus Place, Little Tokyo Two and Office Hub.  

Lendlease has also recently equipped two floors (of around 5,000sq m) on Tower Two of Barangaroo with facilities such as wellness centre, meeting rooms and videoconferencing facilities that smaller tenants with growth potential can share as a community. In doing this, they hope not only to make it easier to attract and retain top talent in smaller businesses (by having facilities typically only available to larger tenants), but also to provide a culture of innovation to its larger occupiers.

Add-on services

  • One of the biggest issues of today’s modern worker is the lack of time in the day, so buildings are more and more often implementing services such as concierges to ensure everything runs smoothly for tenants, including welcoming/directing customers, ordering takeaway coffees and making restaurant bookings. We’re seeing building owners such as Dexus, GPT, AMP Capital, Brookfield and Mirvac aim to increase tenant satisfaction and therefore retention through hotel style concierge, catering, special offers and latest building service portals linked to on-site facilities.
  • A trend starting to see a little traction in Australia is certain buildings now offering dog minding facilities, replacing the walk to work initiatives with bringing your dog in for the day
  • With Uber eats becoming an increasing phenomenon, delivering food to the 24/7 workforce, buildings may now start to see dedicated drop off zones or even have links on their dedicated tenant portals

 

To learn more about best-in-class facilities and office space, speak to one of our office leasing specialists.

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