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ARTICLE · 18 OCTOBER 2021

De-risking and future-proofing commercial leases

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

Corrs Chambers Westgarth

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Discusses versatile co-working spaces, space flexibility & greater adaptability in fitout design & delivery.

AustraliaReal Estate and Construction

As the workforce recovers from the impacts of 2020 and more people realise the productivity and lifestyle benefits of working away from traditional offices, commercial tenants are increasingly rethinking their future space requirements.

De-risking and future-proofing commercial spaces – having regard to both the physical environment and how offices can be used to drive workplace strategy – will be front of mind for many, as will making offices places to collaborate, innovate, problem-solve, connect and socialise, in line with shifting culture expectations.

The Sydney Morning Herald reported in July 2021 that 42 of Australia's 50 biggest companies have permanently adopted hybrid working arrangements for office-based employees, with a further six companies planning to implement flexible working policies where appropriate. A survey conducted by PWC in February 2021 revealed that a hybrid working environment is preferred by 60% of Australian workers.

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