Office refurbishment 'likely to increase'

Office design news from Morgan Lovell

Published on 07-07-2010

Commercial property will require redevelopment over the next few years in order for it to be attractive to next-generation occupiers, new research has revealed.

A study by Lambert Smith Hampton (LSH) found "significant amounts" of business blocks are likely to need office refurbishment, adding that there is a lot of "poor-quality" floor space currently available.

The report noted the commercial property sector rebounded in the first quarter of 2010, with office interiors in London leading the recovery, particularly in the centre of the capital.

According to LSH, this trend is unlikely to change, with the innermost part of the city driving office space performance for the next 12 months.

"Returning demand, coupled with the shortage of new built stock in most markets, is signalling a recovery in rental growth," it stated.

Writing for the Ahwatukee Foothills News, Claudia Dabdoub recently claimed constant office refurbishment can help employees to be more productive in the workplace.

Posted by Adrian Norman