Commercial Property SPECIAL REPORT Photo: Stockphoto businessnews.com.au Commercial Property FEATURE Long-term focus drives office outlook Perth may have the highest office building vacancy rate nationally, but that’s done little to dampen the confidence of investors, developers and real estate agents. highlighted a part of business life often taken for granted: a physical presence. Workplace culture is a major part of that, according to Redhill Partners partner Oliver Mahé. “We believe the office of the future has to become a desti- nation with a purpose and will be designed with an increased Katie McDonald focus on collaboration, with
[email protected] potentially more individu- 8-PAGE FEATURE al-style work completed from home,” Mr Mahé told Business ERTH’S latest lock- News. down provided a stark “The office of the future will P reminder to employers form an important part of an and office landlords of the organisation, as it will be the changing nature of work, where physical manifestation of the staff have the ability to operate company’s culture. remotely at short notice. “Rather than simply clocking CIRCUMSTANCE: One fifth of Perth CBD office stock is now considered vacant. Photo: Gabriel Oliveira But the shift to working from in and out, we believe it will home comes with caveats. become the place of employee Some people find it diffi- creativity and engagement.” last year, but that office leas- ing activity had picked up again, cult to remain motivated and Mr Mahé’s confidence in the The fact remains that offices and productive in a home environ- longevity of the office is backed with Redhill Partners com- ment, while others can’t juggle by Redhill Partners’ recent $67.8 the CBD will always remain the lifeblood pleting 5,000 square metres of work and family needs (such as million play for a CBD office, office leasing deals in the last children home from school in pushing the Singapore-based of our city centres, and drivers of quarter of 2020.