See which companies are reducing their office requirements in the wake of COVID-19.
See which companies are reducing their office requirements in the wake of COVID-19.

Virus jitters: Businesses cut back office space requirements

SIX months is a long time in the coronavirus era and companies are pruning back their office space requirements from what they wanted before the March lockdown.

With thousands of CBD office workers working from home, the idea of multiple floors in a CBD office tower isn't economically appealing.

According to those in the industry along with less space needed flexibility is now the key in the covid era and after the lockdown hiatus tenants are back in the market … for less.

We hear that Credit Union Australia - which had a 6000-8000sq m requirement and has short-listed 123 Albert Street and 300 George Street with the option of staying put at 145 Ann Street - are now seeking between 5000-6000sq m.

There is also speculation that construction services company Ausenco (2000-4000sq m), QIC (10,000sq m) and accountants KMPG (8000-11,000sq m) will reduce their potential footprints.

We hear that Ausenco could cut back to 1500sq m, QIC 8500sq m and KPMG 6000sq m to 8000sq m.

There are also plenty of smaller companies downsizing their briefs.

Gaming developer Half Brick Studios did want 1000sq m and now have a 500sq m requirement; Dementia Australia has gone from 700sq m to 450sq.m; software company Dassault Systemes from 1000-1200sq m down to 800sq m and Synergies Economic Consulting from 250-350sq m down to 200sq.m.

Watch this space.

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TOUGH times in the aviation industry has spilt over into the Brisbane Airport Corporation which recently underwent an organisational restructure in hand with a redundancy program earlier this month.

Over 100 jobs have been axed and one of those was Scott Douglas who joined BAC a year ago as executive general manager, Property.

Scott Douglas
Scott Douglas

With a 26 years of experience in the property game - his last role as investment general manager at QIC Global Real Estate - he's sure to get another gig soon.

Meanwhile, BAC said the restructure will position it for the recovery of global aviation and enable it to take advantage of the immense potential Brisbane Airport has for future growth.

These changes combine its key aviation and commercial operations into two new departments.

The commercial team, headed by Martin Ryan, brings together retail (both in terminal and at our other commercial precincts), property development and management, and ground transport and parking operations into the one commercial business division.

The aviation department, to be headed by Jim Parashos, brings together our aviation business development, destination and aviation marketing, customer experience, terminal operations, and airside teams into one department.

For good measure BAC has also integrated Security and Emergency Planning into the newly named Governance group, to be led by Raechel Paris, which will align with risk and compliance, WHS, environment and sustainability.

 

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THERE continues to be movement in the agency world and this time it's at Cushman & Wakefield.

Experienced real estate professional Stephen Parker has joined the national Tenant Advisory Group at the agency's Brisbane office.

Through his career he has had leadership roles with CBRE, Colliers International and Incorp.

On the other side of the coin Cushman has lost two members of its sales team - Joe Kennedy and Sam Callanan. They are currently on gardening leave having left their plush offices at The Riverside Centre.

Everyone is keeping quiet but we hear they will join Carl Charalambous' C Property QLD team in Teneriffe. In what capacity we are not sure.

Sam Callanan and Joe Kennedy have left Cushman & Wakefield.
Sam Callanan and Joe Kennedy have left Cushman & Wakefield.

Originally published as Virus jitters: Businesses cut back office space requirements


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