Rightsize and relocate
Are you paying for more space than you need?
Considerations
- Have you reviewed the purpose, size, space mix, location and configuration of your portfolio in light of the new business environment? What changes could you make?
- Is there potential to eliminate surplus space and move to lower cost locations to help identify real cash savings opportunities?
- Should space requirements be re-assessed, considering changes in density, the potential for hybrid working and the future purpose of the workplace?”
- Are there market opportunities for relocation and cost savings?
Insight
The greatest cost reduction opportunities for real estate costs are from reducing the footprint and moving non-essential functions out of high cost locations. These strategies can deliver win-win situations; operating savings can go hand in hand with improvements in productivity, employee experience and well-being, flexibility, resilience and carbon reduction.
As business and workforce strategies adapt to the new economic environment and employee expectations, your property portfolio should also realign.
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