Asia Pacific ViewPoint - Enhancing office buildings through placemaking May 2017
Placemaking – defined by CBRE Research Asia Pacific as “integrating design, amenity and community to create a unique space where people want to be” has until recently been confined to retail landlords responding to the challenges posed by e-commerce by creating compelling reasons to attract shoppers to spend time in their malls.
Now, however, as the role and importance of the workplace moves up the corporate agenda, and companies compete to attract the best talent, the trend for placemaking is also being observed in the office sector.
Office leases in Asia Pacific are increasingly moving beyond functionality and mere bricks-and-mortar towards a stronger focus on wellness, F&B, end-of-trip facilities and childcare as tenants demand offices with a placemaking feel.
CBRE Research believes this will drive a change in the relationship between landlords and tenants that will involve a shift from a contract based on a lease agreement to a partnership with the common goal of creating a rewarding workplace experience for employees.
This ViewPoint by CBRE Research Asia Pacific explains the drivers behind the growing importance of office placemaking and provides recommendations for landlords seeking to strengthen their focus on placemaking and unlock hidden value through active asset management and repositioning.