Chaim Grunfeld, founder and CEO of telecoms and connectivity specialists, Prime Connect
The number of companies operating from co-working spaces has increased by an overwhelming 125% over the past five years, according to a 2023 study by office brokerage company, Sketch Labs. This vast growth is largely down to the number of businesses now fully committed to hybrid working, looking for flexible, affordable spaces that may not necessarily be used every day but that still provide all the facilities people need to be comfortable, productive and happy when they do come into physical places.
It’s all part of the larger trend of downsizing, swapping vast amounts of privately owned or rented space for smaller offices that come with all the latest amenities and services. And top of this list of desirable features is, of course, high-speed broadband – which, given that it powers everything from conference calls to sharing documents, can now be considered the fourth utility, proving equally as imperative as electricity and clean running water. Indeed, it’s time for building managers to recognise that seamless connection is no longer a luxury but a necessity, pre-connecting their buildings prior to company move-ins if they are looking to fill up spaces.
Bandwidth as the new building block
Modern offices no longer consist of just bricks and mortar. As dynamic hubs for interactive working, high-speed broadband must be built into the very foundations of these structures, as well. Without pre-connection, building managers would be pressed to find tenants – who are looking for rapid, convenient, move-in-and-go solutions when they opt for managed building services. The last thing they want to do is arrange internet connection alone.
As workplaces grow increasingly connected, with conference calls taking place with clients and colleagues all over the world, this expectation for immediate, uninterrupted connection will only grow, leaving those who don’t prioritise fast internet behind the competition. Tenants are not just looking for a place to work anymore – they’re also looking for a place to connect, so it’s vital that landlords give them the fast, stable connections they need to do so from the outset.
The speed of business: why connectivity is vital
For office buildings, the need for immediate, high-speed broadband cannot be overstated. Businesses operate in real time, with data serving as the currency that keeps everything flowing. Regardless of whether this data comes as shared files and videos or via conference calls and virtual meetings, the need for reliable, high-speed broadband has never been greater. In fact, it is the lifeline that connects your tenants to their clients and colleagues in the wider world, making it imperative to ensure that the infrastructure you are offering is up to the task.
Employees expect to be as productive from a desk in their shared space as they are in their home workspaces. Slow and unreliable connections only stand away of this, causing significant downtime and an increase in petitions to continue working from home. When businesses perceive a loss of productivity and a decline in bottom-line performance when in office as a result of poor connection, they are more likely to give into such requests, leaving office spaces without tenants. Landlords must therefore bring things up to speed before people even get in in order to keep their properties prosperous and thriving.
A connected investment
There’s a clear business case, then, for investment in high-quality broadband – especially when it’s fibre optic and boasts sufficient bandwidth. Properties that offer superior connectivity command higher rental prices and attract more discerning tenants. What’s more, in a competitive market, where every edge counts, having a pre-connected building can be a significant differentiator. By pre-installing fibre in new or refurbished buildings prior to signing tenants, you not only boost property appeal and number of contracts, but also ensure that tenants can move in and start working as they wish from the outset – without the hassle or delay of setting up new connections.
Avoiding the disconnect
Ultimately, pre-connecting office buildings is no longer optional but essential. As the world continues to cross even more virtual boundaries, building managers who fail to prioritise connectivity risk not just losing tenants but also falling behind in a fast-paced, ever-evolving rental market.
Investing in reliable broadband is about more than just keeping pace with digital advancements. It’s about staying connected to the future of work, which is now. Those who have already laid the groundwork for robust connectivity will thrive in this new era, where the only thing worse than no connection is a slow connection –or no contracts – at all.
