Wellness and Offices: Sweating Assets for Maximum Value…
In today's commercial property landscape, wellness amenities have become a crucial factor in office buildings. Employers are increasingly recognising the connection between employee wellbeing and productivity, leading to a significant shift in how office spaces are designed and used.
Transforming Underused Spaces
Previously overlooked areas, such as basements and storage rooms, are now being reimagined as wellness hubs. This transformation not only maximises the use of low-value spaces but also creates a unique selling point for office buildings, enhancing their appeal to potential occupiers.
Case Study: The Carter
Henry Sims , Co-founder & COO of reFIT? , an autonomous amenity business for real estate, shared insights on the success of their wellness facilities at The Carter: "The installation of state-of-the-art gym and studio facilities has exceeded expectations. Our tenant survey revealed that 20% of respondents cancelled external gym memberships, while over 50% reported increased likelihood of regular office attendance due to these new amenities."
“While the Capex was covered by the developer, the occupier was happy to cover the running costs via the service charge, creating an outsized return on investment for both parties.”
Unconventional Repurposing
Wellness facilities don't necessarily consume valuable lettable space. Unconventional spaces, including under staircases and disused bank vaults can be repurposed for the greater good. Facilities can range from 300 sq ft multi-purpose studios in smaller buildings to 25,000 sq ft operator step-ins in much larger ones.
Developing on this theme is reFIT’s Tri-Pods, which cater to triathlon enthusiasts by taking three car parking spaces and converting them to pods containing an Endless Pool, bike, and treadmill, which can be booked individually or as a set.
领英推荐
Diversifying Wellness Offerings
The concept of workplace wellness has expanded beyond being places to get a sweat on. Multi-purpose studios are being designed to support various activities, including:
Additionally, underused spaces are being transformed into treatment rooms for services like barbering, nail treatments, massages, and mothering spaces.
Conclusion
Wellness amenities have transitioned from a luxury to a necessity. By investing in multi-functional wellness spaces, landlords are not only improving the lettability of their assets and stickiness of their income, but also contributing to the health, happiness, and productivity of the workforce occupying their spaces.
This shift represents the rarest event in offices – a relatively low cost opportunity to enhance the symbiotic relationships between property owner, occupier and managing agent. Who knew!
Article written by Helie Pryce & Hannah Buxton at RX London in partnership with Henry Sims at reFIT?
Visit the RX London website: https://rx.london/wellness-and-offices-sweating-assets-for-maximum-value/