TMT trends including shorter leases and flexible fit-outs are becoming the norm
Office trends in the fast-growing technology, media and telecoms (TMT) sector such as short leases and flexible fit-outs are being adopted by more traditional office occupiers, according to research unveiled by the British Council for Offices.
Speaking at the BCO’s annual conference in Birmingham last week, Andy Tyler, of property agent Cushman Wakefield, said his firm has forecast that the TMT sector will overtake the financial sector in terms of office space take up in two or three years.
Richard Kauntke, chief executive of the BCO, said: “While the TMT sector may have pushed boundaries in challenging developers to meet different demands and needs, it seems companies from all sectors are inspired by the approach of TMT companies like Google. As a result, demand for flexible, connected and collaborative workspaces is becoming the norm.”
“This is indicative of a wider shift in the commercial property sector where developers and letting agents treat occupiers as individuals rather than making assumptions based on sector or type.”