In focus: A new dawn for developers?
Insider deputy editor Ben Pindar asks if we are seeing the emergence of a new way of thinking in the commercial property world.
I've attended a number of commercial property events in recent weeks, with the highlight being the Insider Yorkshire Property Industry Awards, and it's clear there is a growing sense of optimism across the sector.
The awards night demonstrated there are deals to be done, but I've also noticed a new dawn in the commercial property sector.
The downturn has been hard on developers and agents alike and it brought the axe down on an array of ambitious projects across Yorkshire but, as a result, we are now seeing a new way of thinking emerging across the industry.
The chief executive of the British Property Federation Liz Peace perhaps said it best at the awards night when she explained the sector must now be flexible and provide a "modern product for modern times".
Peace claimed developers had to be innovative but, crucially, had to put people at the very heart of their projects and then continue to deliver a high-level of customer service throughout.
A few days earlier I visited the pioneering Greenhouse project in Leeds to join the first anniversary celebrations. Developer Citu embodies Peace's message.
The entire project is aimed at creating a real sense of community between the residents and office workers and Citu work hard to maintain the close-knit nature of the people who live and work there, while also helping them to live sustainable lives.
Like so many of the schemes to be developed in Yorkshire in recent years, Greenhouse is a refurbishment.
Refurbishments offer a number of benefits ranging from the environmental benefits of the recycling of materials to the speed at which a building project can be turned around. Yet, this latest trend is also another indication of the new way of thinking.
Instead of delivering towering glass structures as a monument to their own vision and success, developers must now work hard to make sure their buildings are ideally suited to the occupiers they aim to attract. What this means is that sustainability, low-running costs, ease of access and local amenities are now the leading priorities instead of concentrating on the kudos of a stylish and imposing structure.
While Greenhouse may have led the way, it is not unique. We are now seeing a raft of refurbishments coming through and the one thing they have in common is that people lay at the heart of the schemes. These projects look years beyond just securing an occupier and instead aim to make sure future residents form part of a thriving and prosperous community.
The recession changed many things, but a number of those I've spoken to across the property sector believe one good thing has emerged from it – developers must now think much deeper beyond the design of a building and instead think about what it does for the people who live and work in it for the years to come.
