Developers and landlords who invest to create offices that embody the occupier-driven focus on wellbeing will reap their rewards commercially while those that don’t face diminishing returns, according to a new report from Cushman & Wakefield. The Well Workplace report claims to map out the major trends, opportunities and challenges of the future facing owners and occupiers of commercial office space due to the growing emphasis on employee health and vitality as part of the work environment. Improved lighting, layout and use of plants are all known to benefit wellbeing and can increase employee performance. Gains through boosting performance far outweigh potential cost savings through real estate efficiencies – making the imperative for occupiers clear, according to the report’s authors.
The report goes on to argue that for landlords there is commercial advantage and price premium for assets which incorporate wellbeing. A survey from the Urban Land Institute revealed two thirds of built environment professionals agree wellbeing features in a property can directly impact market success and economic value. Additionally, more than a quarter of landlords believe they can charge a premium rent as a result of wellbeing, according to a study by Dodge Data & Analytics. The same data shows that nearly half of respondents said spaces leased more quickly.