A recent report conducted by workplace sensor provider XY Sense has suggested that one-third of all desks and workstations across Australian offices are sitting empty. Sydney-based businesses continue to downsize their office space, as more employees remain remote. And this is not expected to change any time soon.
The findings of the report, which indicated that 34% of all desks around the country were empty in the second quarter of 2023, virtually match the global figure of 36%. Therefore, it’s clearly not just Australian businesses, landlords, and investors, that are struggling to navigate this change. This is despite 72% of global businesses mandating a compulsory return to office for their employees, as found by Unispace.
Some days are more popular than others
XY Sense’s report also included data on the most popular days for workers to attend the office. Tuesdays, Wednesdays, and Thursdays were found to be the most popular days by far. In fact, the average workplace was 84% busier on these days than on Mondays or Fridays. This data was gathered from 24,885 different workspaces across nine countries.
The days adjacent to the weekend clearly come with added charm, and this tends to shape the trend above. XY Sense also studied the average utilisation rate for workstations. This came to 27 percent in Australia, which does seem to equate to a poor ROI for tenants in offices in Sydney, and the rest of Australia.
Empty desks present a glowing opportunity for tenants
Empty space is less than ideal. But for existing tenants, this space presents a fantastic opportunity to create a more dynamic and user-friendly working environment. A well-designed workplace that offers a range of working areas and promotes flexibility is more attractive to employees. This results in a higher rate of utilisation for deskspace.
Eliminate underutilised desk space and use this space for something else; collaborative spaces, breakout areas, relaxation rooms, meeting spaces… the list of opportunities goes on.
It is important for businesses to pivot and maintain an attractive proposition for employees. It’s also essential for landlords and investors to offer spaces that cater to the needs of their tenants and employees. These days, a high-quality fitout is a must, as well as amenities that offer services to employees, such as fitness facilities and childcare centres, on-site.
At Niche Tenant Advisory, we can help facilitate a high-quality office fitout for your space. This will ensure that employees remain committed, and your utilisation rate remains high. No more wasted desk space.
How can our clients leverage this commercial property market?
At Niche Tenant Advisory, we act exclusively for our clients, working independently with them as their advocate and partner to identify and procure a corporate real estate solution that meets their unique needs across multiple aspects.
Our dedicated team has immense experience in finding the perfect commercial space for our tenants. We negotiate hard, and utilise all of our market knowledge to get you this best deal. And in this market, there is plenty of opportunity for tenants looking for a better deal, or a new office lease in Sydney.
Get in touch with Niche Tenant Advisory today.
