Re: Fingers crossed
It's the unrented, unoccupied ones that are the problem.
I have some personal interest in this in that I have a pension fund which includes a commercial property element. That certainly doesn't stop me believing that the established state of affairs - big cities, long commutes - is unsustainable in the long run, needs to be rethought and rebalanced, and the quicker the better.
The target as I see it should be a mixture of:
- less urban office space
- more urban residential space for those whose lifestyle it would suit
- more working at home (I distinguish that from working from home. There are many jobs, field engineer, for example, where at least some of the work is performed in locations which is neither home nor the employers' premises but this is less likely to be affected in any rebalancing.)
- more suburban offices so work in the office does not need long commutes for cases where W@H does not fit
- more use of serviced offices for those who do not have suitable working space at home
There's an urgent need for governments to catch on and change the planning rules PDQ. For instance use of "brown-field" sites is encouraged for residential use but those sites, at least those in my area, are old mill buildings which would provide for the last two of my points and there are very few of them left.