Newsletter Q3 2017 UK

Newsletter Q3 2017

Personal networks and online searches preferred by tenants looking for new o ce premises

Network recommendations Search via Google or other search engines Through estate agents Reached out to landlord in person Search via commercial lease portals Had seen ads on the Internet

14%

19%

11%

16%

4%

6%

Was contacted by the landlord/commercial estate agent Had seen ads posted around town (signs on buildings, etc.) Had seen ads in newspaper Search via social media (e.g. LinkedIn or Facebook) Other No recollection

8%

15%

8%

9%

14%

Source: Sadolin & Albæk

11%

All interviews were conducted as telephone interviews by Megafon A/S on behalf of Sadolin & Albæk and It’s A Fact ApS. Note: The results do not add up to 100% as the respondents were given multiple reply choices. Base = 400 surveyed. 178 respondents.

large scale too when looking for new lease premises. The survey indicates that small and medium-sized businesses integrate the digital tools in the search process but have no predefined search strategy. It took the interviewed businesses 26 weeks on average to find new lease premises, but for more than 60% of the small businesses it took less than 12 weeks. The same applied to more than 40% of the medium-sized businesses. Conversely, businesses with more than 100 employees take much longer to search the market. Confidence in landlord a key value driver As the office letting market is becoming more dynamic, tenant parameters in connection with the selection of new lease premises have changed substantially as well. In the past, tenant demand was characterised by great focus on price, location and size, but today’s office tenant has a great number of additional value drivers that are key factors in the selection of new lease premises.

various industries and business size brackets in the Capital Region of Denmark, with special emphasis on Copenhagen. To get close to the decision- makers, the target group was individuals fully or partly in charge of selecting business premises. The tenant survey shows that the personal network is the most widely used channel when tenants are searching for new lease premises, ahead of online searches and estate agent contacts. It is worth noting that tenants only on a limited scale avail themselves of traditional advertising media when searching for new lease premises. Conversely, online searches have become much more commonplace and, broadly speaking, the tenant survey results confirm the notion that the office letting market has become increasingly digitalised and dynamic in recent years. In addition, the tenant survey shows a preference among small businesses (2-19 employees) for the network as the most favoured research method. In addition, small and medium-sized businesses (20- 49 employees) employ online search engines on a

Both indoor climate, accessibility and flexibility are high-priority concerns, and the tenants questioned

14