Lease agreements in a post-Covid world
As the UK slowly starts to emerge into a world free from Covid restrictions, businesses are assessing the immediate and long-term implications that the pandemic left in its wake. Commercial property leasing is pre-eminent as businesses carefully attempt to balance their office requirements with downsizing, cost-cutting, and the push for permanent flexible working models.
During the pandemic, many companies placed lease renewals on hold whilst they waited for the fallout to come to pass, leading to offices, commercial and retail space sitting empty. Tenants, in particular hospitality and retail, received government intervention, but there was little in support of landlords. Coupled with many businesses requiring smaller offices after adopting hybrid working models, the commercial property sector is facing an overhaul that could tip the balance of favour to that of the tenant.
How will the pandemic affect property requirements?
The future of commercial property leasing is more than simply delivering four walls. Commercial property owners must be ready to accommodate flexibility and unique requirements if they wish to secure tenants. The long-lasting pandemic effect will be felt across all sectors and real estate owners will have to calibrate their properties to provide for these shifts.
High-density and open-plan layouts will become obsolete in favour of office layouts that are conducive to an environment that fosters creativity and productivity and supports the social and mental health requirements of employees. Instead of large desks for employees to answer calls and reply to emails, companies will utilise the reduced office space instead for video conferencing facilities, meeting rooms, and event spaces where employees can collaborate.
The importance of digitisation and connectivity is paramount, as proven when social distancing made it impossible for families and friends to visit care homes or hospitals. Customers have become accustomed to shopping online. Retailers will be looking for a commercial property that will allow them to provide customers with the ability to seamlessly transition between the digital and physical realms. With digital solutions now part of everyday life, such as online banking, health consultations, and e-commerce, tenants will insist on good connectivity as part of the standard tenancy agreement.
5G and the future
The imminent roll-out of 5G will provide customers with a mobile experience that is faster and with less lagging than what some in-building Wi-Fi solutions provide. It is pivotal that real estate owners future-proof their buildings by installing communication solutions that support 5G to give their tenants the level of connectivity they will come to expect.
A future-proof connectivity solution
Some construction materials prevent mobile signal to penetrate buildings, leading to poor mobile coverage inside and tenants experiencing dropped calls or poor voice quality.
Cel-Fi products provide the best in-door performance for voice and data on 3G/4G/5G. With up to 100dB of gain, it transmits a reliable in-door mobile signal to the perimeter of the building.
Frequency Telecom is the master distributor of Cel-Fi products in the UK and Ireland. We have provided in-building mobile signal solutions to many businesses, including managed office specialists Pure Office, Storey and DeskGo, care homes provider Clarence Park Village and NHS hospitals Clatterbridge Cancer Centre, Welsh Ambulance Trust, Derby & Burton Trust and many more.
Contact us to find out how we can help our real estate get a competitive edge.