Even for those that are geographically blessed, the asset must be suitable for the intended use.
Low floor-to-ceiling heights are not just unattractive to the office occupier of the future, but are also a non-starter for labs that require extensive specialist equipment.
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The office market has contracted, but there will still be opportunities to develop or refurbish assets to accommodate the occupier of the future.
Ultimately owners will need to consider the merits of each building on a case-by-case basis and remember the key lesson in property: location, location, location.
Daniel Burnard is a real estate partner at BCLP
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