The Future for Business Parks in the Post Covid World

Tuesday, April 20, 2021

We are approaching the point when how we work in a post pandemic world moves from being a subject of speculation to reality. As ever, we won’t really know what this will look like until it happens.

What we do know is that we’re not witnessing the death of the office as a place to work. Many businesses and their employees want to retain some flexibility. But few are saying that 100% home-working is the answer.

A survey by HR News showed only 28% of people want to work from home full-time given the choice. 44% wanted a blend of home and office and 25% are longing to get back to the office for all of their working time.

Several corporations have signalled that they are going to cut the overall amount of office space they lease. Many are exploring locations outside of London and other city centres to reduce costs and the commuting burden on staff.

Convenience and Commercial Advantage

What will determine the winners and losers when it comes to business parks as the world of work evolves? One of the most powerful factors is likely to be convenience.

If reduced travel time and costs are significant factors driving decisions then any location that offers a variety of convenient travel options will be in a strong position to compete. Sustainable and public transport will be part of the mix but these are not completely within the control of the owners of commercial estates.

For many people, the preferred travel option will be whatever can get them from home to office and back again in the shortest time. In many cases this will mean the car. In turn, this makes the availability and convenience of parking a significant commercial factor.

How Easy Was Parking Before Covid?

Parking problems may not have been much of an issue over the last twelve months. But any that existed before last spring will quickly re-emerge, which could make some business parks less attractive sites for existing or relocating tenants.

If that’s likely to be an issue, there are options that are cost-effective and quick to implement. The modular car park system developed by Osborne and Siderpark is one such solution. It’s an easy way to add one or two decks to a surface-level car park without digging foundations or enduring a major construction project.

The solution could make parking an asset rather than a drawback. The modular structure can also incorporate PV panels and EV charging points to be more sustainable and to generate revenue.