More than half (58%) of European office occupiers have reduced the size of their real estate footprint over the past three years – primarily as a result of hybrid working, according to CBRE’s 2023 European Occupier Survey.
Nearly three quarters (72%) of companies surveyed said they had reduced the number of dedicated or assigned seating places and 73% have increased the amount of space for activity-based work as they adapt to post-pandemic working trends.
Almost half (45%) of survey respondents said they were relocating into better quality space, with a further 23% exploring this as a possibility.
When selecting locations 80% of respondents identified access to public transport as the top priority, with the sustainability features of a building the most important consideration for 55% of companies, followed by the availability of on-site food and beverages (54%).
Richard Holberton, senior director, Europe research at CBRE, said: “The acceleration of hybrid working has highlighted the need to establish resilient and adaptable workplace strategies, and robust decision-making processes. The benefits of partnering real estate decision makers with other corporate functions is increasingly recognised and likely to produce the most positive results.”
Guy Holden, head of advisory and transaction services for Europe at CBRE, added: “All of these factors play a crucial role in driving office return rates and with 40% of respondents seeking further increases in attendance, the employee value proposition should be at the core of every real estate decision.”
