Some tenants factor in higher headcount as they move to new locations
There’s a buzz in the office leasing market. Many new leasings are at the expense of space being given up in existing locations as occupiers are drawn to better-value propositions in newer buildings. But a few are taking up more space in their new locations than what they are giving up in their existing premises to cater to future increases in headcount.
‘It’s not all musical chairs. There’s also a smattering of improved headcount numbers, even as most occupiers chase lower cost, better value locations,’ a seasoned office property consultant said.
Another office consultant, Knight Frank director of office leasing Agnes Tay, said: ‘I don’t expect net office demand to turn positive this quarter, but the negative demand will be smaller in the second half of this year. Continue reading
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