I have worked across several commercial property companies, while I am in IT here is my input into the whole return to work arguments:
- Leases are 5, 7 or 10 years, most leases where negotiated pre-pandemic and this has led to a massive financial lose.
- Office maintenance, cleaning, preventative maintenance is a massive OPEX.
- Middle management/ Micro management, with the inability to constantly “improve productivity” why are so many managers required?
- Loss of property value
- Decline in CBD value
- Decline in CBD cash flow (cafe, restaurants, gyms, etc…)
- Some meetings and decisions are better made face to face
- Loss of community and culture (this one does have an impact and I do enjoy the occasional day in the office, with my colleagues however I feel I get less work done on these days…)