Hybrid buildings: the answer to asset managers’ need for flexibility
The covid-19 crisis has undeniably changed the occupation of space, both in commercial and residential real estate. The needs of tenant companies, like those of their occupants, have evolved towards greater flexibility, sharing and services. The objective is to have modular spaces and to have access to them according to their activity.
In the face of this evolution, which calls into question the foundations of real estate management, and in particular of commercial real estate, more and more asset managers are mixing traditional rentals with flexible coworking-type spaces, within the same property. Zoom in on this new “Hybrid buildings” trend in the real estate market!
1. Hybrid buildings = 3/6/9 + coworking?
Over the past months, asset managers have noted the reluctance of some companies to sign traditional rental leases, on 3/6/9, within their buildings. Faced with deserted spaces and a rise in teleworking, which seems to have come to stay, companies are in the process of completely reorganising their workplaces.
Managers then face a double challenge:
- To respond to a demand for flexibility from their user companies,
- To optimise the management of their spaces and in particular unoccupied areas.
The implementation within the same property of two rental rationales then takes on its full meaning:
- on the one hand, classic 3/6/9 leases for tenant companies looking to establish a lasting presence
- on the other, floors dedicated to flexible working methods (coworking) open to tenant companies as well as to all organisations interested in more fluidity in the management of their offices.
2. Hybrid buildings, an asset for businesses
Hybrid real estate is therefore an advantage for asset managers in optimising their spaces and the income generated by their properties. But it is also a plus for all tenant companies:
For the companies looking for a place for the long to medium term: they can still sign for offices over 3, 6 or 9 years while benefiting, within the same building, from the advantages of flexible spaces, like having a concierge, other services, meeting rooms and reception areas. They may as well ask to take advantage of these new places on a daily basis or use them to temporarily increase the size of their offices.
For the companies looking for flexibility: they have a much wider range of spaces. No need to necessarily opt for co-working spaces: they can now also find a few offices in the heart of a building in La Défense or in a building in the heart of Lyon. As a result, the range of services is also expanding to offer the best of the occupant experience to these new tenants on a daily basis.
3. A digital solution to manage these new flexible spaces
This new way of managing spaces is a challenge for asset managers who find themselves having to rent, administer and run flexible spaces.
Witco, in tune with real estate trends, offers a management application to best support these new space managers in the change to alternative uses. The customisable platform opens up the simplified management and optimisation of the premises: communication with tenants, management of common areas, rental records, analysis of usage and satisfaction data, remote management of paper-free access, etc.
Its dual interface for managers and occupants is also an asset for the premium occupant experience. Indeed, the Witco app also responds to the new problems of rental companies by means of:
- The creation of a united community: chat, forum, events, news feed; everyone has the opportunity to discuss things!
- The diversity of services: marketplace, concierge, catering, conferences, rental of goods …
- Space flexibility: room reservation, reporting of incidents in shared or private spaces, electronic pass, etc.
Hybrid spaces have been a resounding success with asset managers, allowing them to rent all of their spaces according to business needs. Proposing a new, more flexible approach involves the alliance of flawless management and a proposal with high added value for the occupants. Thus, the use of an all-in-one app such as Witco allows asset managers to position their offer at the heart of real estate trends.