It is understandable that there has been an impact on the office market, particularly in Sydney and Melbourne, from the effects of COVID-19, however an increase of new supply hitting the market in both cities is perhaps more of a concern for landlords with existing vacancies.

We believe that the “plug and play” nature of spec suites (or offices that are ready to move into) can offer organisations flexibility, cost effectiveness and a “walk in and work’ solution to their workspace needs and with the right design and delivery team behind them an asset owner can start achieving a return quickly for a proportionate investment.

We asked Simone Linossi-Grove, Design Principal at Creo and David Willan, Director of Delivery at NPM about how they created a winning formula for sending vacancy rates plummeting in record time for smart asset owners and managers and created this 3-step guide.

1. Design

It’s easy to fall into the trap of thinking that speculative suites should be vanilla and designed to suit anyone. In fact, they should be the opposite, they need to wow prospective customers.

With workspace alternatives, like Work from Home or Co-Working space abound, a contemporary office needs to deliver a compelling reason to spend time in.

The team at Creo respond to briefs but often use the office location, surrounding culture and heritage as inspiration for design that takes full advantage of view lines, light sources, and connection to neighbourhood placemaking.  Creo’s spec suite design knowledge incorporates fundamental principles of wellbeing, sustainability, effective use of space, contemporary technology requirements and attention to detail.

It is also vital to design with flexibility in mind. The space must be adaptable to suit a range of potential organisations.  Creo’s designers seek to maximise workspace, collaborative meeting areas and of course storage, without compromising potential employee wellbeing and organisational sustainability drivers.

The ambiguity of who the space might be for, shouldn’t limit creativity and creating a destinational experience that delivers a wow factor should be top of mind.

2. Deliver

Time is money, as the old saying goes, and drawn-out vacancies can quickly become expensive.

Creo and NPM, working in partnership, have redefined delivery to help landlords get their property to the market faster.

Whereas the industry norm is to move from a design process into a delivery process, NPM and Creo combine design and delivery into a collaborative “sprint”, drastically reducing the overall time a property needs to spend off-market.

We collaborate from day 1 on a project, which ensures constructability and costs are considered early on, significantly reducing risk for our customers. Our experience in this specialised area allows us to manage the budget to achieve maximum impact where it really matters and avoiding over-capitalisation where it is unlikely to yield a return.

Speed and risk reduction are vital components of a successful strategy, but asset managers can also be confident that we consistently deliver quality, with a track record of delivering best in class spaces across the country that are often leased before fit-out completion.

Having designed and delivered over 60,000m₂ of speculative suites within the most prestigious assets in the country we have an inherent understanding of how to capture a building’s market position and how to deliver incremental long-term value, giving asset owners a competitive edge.

However, each project is still approached with fresh eyes and rigorous research completed on the market, competitor assets and contemporary customer needs.

3. Demonstrate

Marketing and customer experience are a key component of attracting new organisations to a space.

In a world of high-quality visuals and instantaneous experiences, expectations are high.

We can create digital experiences for asset managers that allow for a space to be viewed prior to completion.  The visualisation can often remove doubt for organisational decision makers, allowing them to commit to a lease with confidence.

We work with customers based on their needs and can offer everything from 3D renders and printed collateral through to a full flythrough experience.

The entire 3 step process works cohesively in this regard and the strong design philosophy for the space, combined with confidence in fit-out delivery allows for a compelling story to be delivered in marketing the space from very early on.

As highly experienced workplace design and delivery partners, NPM and Creo are adept at creating stunning speculative suites that have become workplaces for some of Australia’s leading companies.  Most of these suites have been leased within just two weeks, if not before completion.

If you’d like to talk to us about reducing your vacancy rate or your design and delivery needs please contact us here.