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May 15, 2012

Businesses renting more space than necessary

Latest new reports suggest that the changing working hours and other industry trends are prompting UK businesses to occupy more office space than necessary.

It is estimated that each year, businesses in the UK spend almost ₤42 million on extra and unnecessary office space. In a recent report presented by DeVono Property, it was revealed that most corporations follow industry standards that are now outdated and incorrect. 

DeVono Property regularly works with large corporations like Autonomy, Red Bull, Eon and Toshiba.

Companies belonging to the telecommunication, media as well as technology niche have been known to reinvent office designs and define office space trends in the future. Most office spaces today contain large open spaces to encourage social interaction, brainstorming and collaborative work spaces. Offices also contain recreational spaces to create an inviting and productive atmosphere.

A few years ago, the accepted industry standard for office space was calculated with 100 square feet of area per employee. For many years, the industry standards for office spaces were calculated the same way. Today, this number is larger than necessary and the ideal office space is calculated around 85 to 90 square feet area per person.

This decrease in office space calculation was brought on by flexible working hours, work from home options and hot desking, reducing the number of employees occupying the office space.

Director Adam Landau of DeVono Property added that the current estimate for office spaces is over calculated by about 10 to 15%. Upon contacting building designers and architects, it was found that corporations needed considerable lesser space, saving substantial costs in the long run.


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