If the last year has taught us anything, it’s that ‘heading to the office’ could mean anything from embarking on an hour-long commute to a dingy cubicle, or simply going downstairs in your PJs to open your laptop. Now, as offices begin to re-open, many people are starting to question the inflexibility that was once imposed on us, as well as asking whether real estate costs could be better spent elsewhere. We think we have the perfect solution to your troubles, so why not read on to find out?

 

Real estate isn’t dead - it’s just different. At least, that’s what the experts say (and they’re experts for a reason, right?).

 

“It is my honest opinion that companies like Amazon and WeWork are going to be the end of commercial real estate as we know it today,” Engola Rumora, of List’n Sell Realty, told Forbes in 2018, even before the pandemic hammered this message home. “Still, people need a roof over their head, so commercial real estate investors should transition into larger multifamily properties that are within close proximity to large employers.”

 

The move away from centralised offices this year has had a positive knock-on effect, with the City of London announcing in April 2021 that 1,500 empty spaces in the financial district would be converted into homes. So at least these former offices are being put to good use through other means.

According to Ben Rogoff, who runs the investment trust of Polar Capital Technology, moving towards a hub and spoke model could save employers up to 40% in potential office costs over three to five years.

 

But with many employees still holding a candle for office work (albeit for only a few days a week rather than the traditional 5 day nine-to-five), it wouldn’t mean the budget for real estate would be slashed entirely. Instead, you’d need to see funds divested to flexible workspaces that allow staff to come and go as they please; while some companies, like WeWork, offer subscription based services, our platform at NearU is pay-as-you-go, allowing you to save on costs even further and only pay when your employees are actually working in a space.

 

Additionally, while some of those savings would be likely put towards setting staff up with suitable remote-working equipment, investing in a ‘third workplace’ platform like NearU means expensive necessities like wifi access, ergonomic furniture, and in some cases, virtual PA systems, are already included in the price.

 

But in case you needed any more convincing, why not take it from our very own CEO, Daniel Murray, who has been using a hybrid working model here at NearU since the very beginning. 

 

"We adopt a model that is fully flexible and it costs us around £250 per staff member per month. This enables each member of staff to book into their own workspace and have a couple of collaboration days too through meetups,” he said. “If we were to adopt a traditional office 5 day a week option it would be around £1k per month. Not only is it incredibly expensive and inflexible, we wouldn't even really use it that much. We're better off spending that money in other areas for growth or looking after our staff."

 

You can try out NearU for yourself (or your business) by downloading the app from the App Store or Google Play today - or get in touch for more details about how we can make NearU work for you.