We now know that we won't be fully returning to the office as planned from the 21st June, but at some point we will be, and, when we do what is that working model going to look like? For now at least, many businesses seem to be swaying towards a hybrid model with a mix of home and office working but the knock on effect of this is that some businesses may find that they do not need all of their office space.
One of the many uncertainties is that whilst the hybrid model is proving very popular now, is this really going to be the new way of working long term? And if it is, what are businesses going to do with their excess office space that they find themselves with? Sub-letting or sharing occupation is one option provided that leases give sufficient flexibility to do this. Alternatively, they could simply decide that they do not need the expensive space and so choose to move to smaller premises opening up questions as to where this might be. Would they consider moving main offices out of cities to areas with lower rents keeping only a small presence in the city? And if they do, what does that mean in the immediate future for the empty spaces? Businesses will also need to give thought to what if the hybrid model falls out of favour and they no longer have the space to house their teams.
The future of office space is undoubtedly going to be a changing landscape watched closely by many.