Reports of the demise of the office are exaggerated

Fears that offices will no longer be needed in the wake of the COVID-19 outbreak are overblown, and investors should keep an eye out for pricing opportunities, according to Savills Investment Management (Savills IM), the international real estate investment manager.

Core central business district (CBD) offices with good transport links are particularly well-placed to ride out the storm and deliver good returns, and those buildings that are efficient, accessible and offer strong amenities will likely outperform, says the new report, Is the future of work at home or in the office?

Although the pandemic demonstrated that home working is feasible for more companies and professions than previously assumed, surveys have shown that a small minority of workers wish to work from home on a full-time basis once normality returns.* The report identifies a number of drawbacks to working from home that have been exposed by the lockdown, such as unsuitable working spaces, l