What's happening in the UK's office market?

Ongoing research by Remit Consulting into office occupancy rates across the UK has, in recent weeks (Autumn 2024), shown a slight uptick, to an average occupancy level of around 35%. This weekly average, taken from a significant sample of office buildings around the UK, reflects the number of staff entering the buildings through automated turnstiles. The figures are consistently lower on Mondays and Fridays, with the middle of the week being the most popular time for people to be in the office. This pattern has persisted since Remit Consulting’s “ReTurn” study began in May 2021.

It’s important to remember that, even pre-pandemic, offices were never 100% occupied. Staff were always taking holidays, visiting clients, being off sick, or attending conferences, etc. However, notwithstanding the recent improved numbers, the national average of around 35% remains substantially below pre-Covid levels and has been relatively stable for several months.

Since the national lockdown was lifted (then reimposed, then lifted again), there have been calls from CEOs, executives, Government Ministers, and others for people to “get back to the office.” In some cases, this has been mandated, but the challenge is that, in the War for Talent, many businesses continue to offer flexible working. There’s a risk that staff will vote with their feet, a concern underscored at the end of 2023 when Remit Consulting’s survey of office workers revealed that “nearly 60% said they would consider leaving if full-time attendance were to be mandated.”

Whatever your view on this, the pandemic’s lockdowns have changed the way many people work. Like it or loathe it, hybrid working appears to be here to stay. This situation presents particular challenges for those looking to promote the availability of vacant office space.

As traditional office demand has softened, office agents and marketing and PR professionals operating in the market must innovate to position office properties as attractive, future-ready workspaces. This article explores creative strategies for promoting vacant offices in a changing market.

1. Highlight flexible workspaces: The key to attracting modern tenants

With many businesses, particularly SMEs, seeking office environments that can evolve with their needs, agents and marketers must focus on showcasing the adaptability of available spaces to appeal to diverse company cultures.

Strategies to highlight flexibility

• Virtual tours and interactive walkthroughs:

  Allow potential tenants to explore the space from anywhere, demonstrating how easily areas can be reconfigured to fit various working practices and styles, whether for collaboration or focused tasks.

• Visual content that tells a story:

  Feature before-and-after transformations or customisable layout concepts to illustrate the possibilities. Include client testimonials or video walkthroughs narrated by design experts to further humanise and illustrate the adaptability. Use augmented reality (AR) apps that allow prospective tenants to visualise different office configurations on their own devices.

Why it matters: Businesses are wary of making long-term commitments to rigid office setups. By emphasising adaptability, you position your properties as the ultimate choice for companies wanting to future-proof their operations.

2. Promote hybrid working solutions: A new era of office leasing

The shift to hybrid working models has fundamentally altered the office landscape. Companies are balancing remote work with in-office collaboration, driving the need for spaces that support flexibility and well-being.

• Highlight offerings:

  Like short-term leases and coworking options, catering to companies experimenting with hybrid models.

• Educational content:

  Publish guides and blog posts on the benefits of hybrid working and how your office spaces can accommodate these new ways of working. Topics could include "Creating a Productive Hybrid Workspace" or "Designing an Office for Flexibility and Collaboration."

• Employee wellbeing:

  Emphasise features like natural lighting, ergonomic furniture, and wellness areas to attract companies focused on their workforce’s health and satisfaction.

The impact: As businesses pivot to hybrid working, your office spaces must reflect this flexibility. Position your properties as hubs of innovation and productivity that support modern work styles. Highlight the business risks of not adapting to hybrid models, such as difficulty in attracting and retaining top talent.

3. Media and PR outreach: Amplifying your message

Gaining media attention is crucial to establishing thought leadership and highlighting the unique features of your office spaces.

Effective PR tactics

• Thought leadership articles:

  Pitch articles on the future of office spaces and the importance of flexibility to trade publications and business media. Having executives share insights can elevate the agency's profile as a forward-thinking market leader.

• Press events and exclusive media tours:

  Organise events where journalists can experience your most flexible and innovative office spaces first-hand. These experiences can result in engaging features and reviews.

• Media partnerships:

  Collaborate with publications that focus on workplace trends to feature your properties in relevant industry discussions.

Why this works: A strong media presence not only raises brand awareness but also positions your agency as a trusted source of knowledge in a rapidly changing sector.

4. Local partnerships and sponsorships: Engaging with the community

Connecting with the local community can boost visibility and generate interest in your office spaces.

Community engagement ideas

• Sponsor local business events:

  Align your brand with community-focused initiatives by sponsoring networking events or business conferences. This creates opportunities for face-to-face interactions and promotes your properties as central to the business ecosystem.

• Collaboration with local enterprises:

  Partner with popular cafés, gyms, or wellness providers to offer exclusive perks for your tenants. Creating local guides that highlight nearby amenities can also enhance your property's appeal. Include practical examples of how partnerships can increase tenant engagement and footfall.

The benefit: Building strong local connections increases brand loyalty and encourages word-of-mouth promotion, which can be invaluable in a competitive market.

5. Experiential marketing: Making a memorable impact

Experiential marketing offers a unique way to bring your office spaces to life and engage potential tenants.

Ideas for experiential campaigns:

• Pop-up experiences:

  Host events within the office space that showcase its versatility, such as art exhibitions, wellness classes, or technology showcases. Use these events to generate buzz and create shareable content for social media.

• Tenant appreciation days:

  Organise events for current tenants that highlight the community aspect of the building. This can lead to positive PR stories and help prospective tenants see the space as vibrant and community-oriented.

• Themed “open house” events:

  Design open house events around themes that highlight your office’s key features, such as a “Sustainability Showcase” or a “Flexibility Fair” demonstrating how easily the layout can be adjusted.

The impact: Experiential marketing creates memorable impressions and provides potential tenants with a tangible experience of what it would be like to work in your space. Track success through metrics like event attendance, social media engagement, and lead generation.

Conclusion:

In a market defined by change, standing out requires a mix of innovative marketing and strategic community engagement. By focusing on flexible workspaces, hybrid solutions, media outreach, local partnerships, and experiential events, you can reposition vacant offices as dynamic, must-see destinations for forward-thinking companies. The future of work is here—ensure your properties are ready to meet the demand.