Reconfiguring existing space remains preferred option but amount of firms looking at this falls

UK office occupiers are planning relocations despite a continued focus on reconfiguring existing space, a new report from law firm Irwin Mitchell says.

The firm’s latest Office Occupiers Survey of 500 UK-based senior decision-makers responsible for office space said that the percentage of firms looking at relocating had risen from 23% to nearly 32%.

It said that reconfiguring existing space remained the favoured option but the number looking at doing this had dropped from 49% to 43% while the the number looking at taking on more space also dropped, from 45% to 33%.

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More firms are looking at switching to newer offices as greater numbers of staff return to the office

Irwin Mitchell said: “Many [firms] are investing in fitting out and reworking existing premises, while flexible workspace is being used to manage demand, control costs and introduce optionality into portfolios. At the same time, a growing share are considering relocation where buildings cannot meet evolving operational or sustainability needs.”

It said that demand for offices is being underpinned by expectations of higher attendance. Around 78% of business leaders expect office attendance to increase in the year ahead, up from 74% last year.

But the survey added: “While attendance has increased at one and two-day levels, there has been a decline in employees attending the office three to five days a week.”