The Benefits of Prop-Tech in Commercial Real Estate
Posted 5 months ago by Jonathan Vanstone-Walker
It wasn’t so long ago that having a ‘connected’ building meant wiring-in your doorbell and getting a new phone line for the fax machine. Fax machines? Ok, we might be showing our age a little. But thankfully, things have moved on and your workplace is about to deluge you with data.
Real estate is the world’s largest asset class, and it is ripe for disruption. Taxis have Uber, hotels have Air B&B, but what do offices have? No one has monopolised the unruly mass of independently owned buildings, yet. Change is coming, and it will be data driven. Buildings will no longer be considered inanimate objects, but rather a means of production, where value = utility.
Why collect data_
The surveys are in; the majority of employees want to work 3-days a week in the office. Which means, the value proposition of the office has changed. It is no longer about office hours, but having the opportunity to engage in collaborative and creative work – the sort of work that doesn’t lend itself to Zoom.
But won’t everyone want to be in the office at the same time? This transition will need some careful planning, and we are not the only ones who think so; a recent JLL survey found that 82% of employees see an immediate need for technology to support space optimisation. The next generation of offices will need to work harder and smarter to justify their costs.
Here’s where it gets smart. Hello prop-tech. Data from sensors can support the transition to this new hybrid office set-up. Technology can collect data to improve office efficiency, reduce energy bills, whilst also providing employees with a safe return to work.
And don’t worry, it’s not only the Amazons and Facebooks of the world who can afford this kit. The cost of prop-tech has decreased considerably.
What can tech help with, exactly?
- Office occupancy: It’s now easier than ever to install anonymous monitoring sensors like Density, to provide a live feed of office occupancy. You might be surprised to find that Thursday afternoons are the perfect time for all-staff meetings or that Fridays are quieter and best suited to focused work.
- Desk booking: A great option if you are hot-desking or office sharing. The tech can be set-up with no more than a floor plan and access to appropriate software. We offer Spaceflow to our clients.
- Privacy: There’s no need for creepy Orwellian surveillance cameras, (some facial recognition cameras used in retail can actually tell what mood you’re in…), all data from our sensors is collected anonymously at source. No one wants to get papped on their way to the tea point.
- Monitors: They can interact with modern electricity meters to provide real-time consumption data. Great to understand how much energy you are using and implement changes to reduce costs.
- Air quality: Low-cost monitoring of air quality is also available, allowing you to see how much CO2 and other atmospheric pollutants are present in the air.
The point is, it’s easy, it’s affordable, and fun to start using prop-tech to collect insightful data from your workspace. Start with one or two sensors and build from there.
Interested to learn more? Get in touch with TSP and we can chat all things prop-tech.
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