The coronavirus is changing a lot in our lives. Not only is social interaction being hit hard, but the way we work is changing rapidly. Working from home is the new standard for many employees. As a result, more and more companies are starting to think critically about their office space. Perhaps this is also a topic that is being given a lot of thought for you. This, of course, also has an impact on office buildings. Some office buildings will be closed, some expanded or rearranged.
For any business, location is an important decision that deserves a lot of consideration. There are several components to consider when deciding on the right location, such as business outlook, status, cost, accessibility and comfort. Also, the location issue is a continuous process that companies have to deal with. Both growth and changes within the company can create different needs in terms of location of the company.
As a result of the corona crisis, tenants, and therefore landlords as well, have ended up financially in bad weather. Particularly in the hospitality and retail sectors. Many tenants wish to receive a rent discount or even to terminate the contract prematurely. In quite a number of cases it is 'do or die'. At the moment it is still uncertain for which solution the court will choose in cases where the tenant and landlord can't come to a solution themselves.
The square meter is a very important aspect in the office market. But when we talk about square meters, do we all mean the same thing? The answer is probably no. There are different kinds of terms for this unit. In the business real estate world, there is spoken of a Gross Floor Area (GFA) and a Lettable/Rentable Floor Area (LFS).