Almost half of mid-to-large size firms in the UK plan to move offices within the next three years after the work-from-home “watershed moment”, a new survey suggests.
As a result, London’s property agents are predicting a busier than usual summer hunting new HQs for hundreds of businesses. Of nearly 500 senior executives at firms with at least 20,000 sq ft of leased space, 89% said they will be able to move out in the next 36 months due to lease expiries or break clauses.
In total, 46% are “actively looking” to move, searching out better locations, upgraded facilities or more space.
A third said they would be downsizing as staff will more frequently work remotely. However, in what will give landlords some comfort, the research by law firm Gowling WLG in collaboration with the British Property Federation, found only 3% of respondents have decided to move to remote working full-time, while one-in-five say all staff will return as normal once WFH advice is lifted.
