Putting space to work: Calibro Workspace’s Ronnie Crawford on getting the best out of Belfast’s office market
1st Nov 2024
Ronnie Crawford is the managing director of office design and build firm Calibro Workspace.
Last month, he sat down with leaders from the commercial property industry for a roundtable discussion about the Belfast office market. Some key insights about the challenges and opportunities for the sector were uncovered.
Contributors included representatives from CBRE NI, MRP Investment & Development, Bennett Freehill, Carson McDowell, NI Chamber, Belfast Harbour, Confluence Consulting and Glandore.
Development pipeline was a focal point for the discussion. The group noted that other than the recent planning approval for City Quays 5, there are no new precincts in the pipeline for the Belfast office market. This is due, in part, to the volume of Grade A stock currently vacant.
The group predicted that this will be leased in the next 12-24 months, which could mean there’ll be a lack of supply moving forward. Right now, there’s up to 1.5 million sq. ft. of office space available in Belfast. Changing demands from both letters and employers are impacting how that space will be filled.
According to Ronnie and those in the discussion, retrofitting older office stock is a big part of solving the puzzle of a lack of supply. It was noted, however, that this can be almost as costly as constructing a new building.
Commenting on the problem, Ronnie said: “There’s little incentive for landlords to bring older buildings up to spec to meet the demand for space in Belfast. The mechanical and electric works alone can be a barrier for the market, with an increase of around 40% in material cost in the last few years. Much of the older office stock in Belfast is likely to be repurposed for alternative use now, due to the low return on investment and lack of incentives for landlords.
“Of course, it’s brilliant when new offices are built in Belfast – we love to see that – but there’s also real value in retrofitting these existing buildings to meet both the demand for space and quality that employers and employees are seeking. There’s a balance to be struck between these options to attract quality talent and brands to invest in the city. If we can match quality with cost benefit, there’s huge merit in both approaches.”
The group also highlighted sustainability as a key consideration for employers occupying space in Belfast.
Ronnie continued: “Many companies are selecting offices for their sustainability credentials – including Leadership in Energy and Environmental Design (LEED) and Building Research Establishment Environmental Assessment Methodology (BREEAM) – to help them meet their environmental, social and governance (ESG) targets. The implementation of legislation around the energy performance rating of buildings is expected to drive this further.”
As experts in designing spaces that make employees want to come to the office, Ronnie considered the requirements expected by contemporary workforces that go beyond fixtures and furnishings.
“Amenities are a big consideration for tenants,” he said. “Connectivity and surroundings matter. As do childcare options and other convenient offerings for staff. These all influence where businesses choose to relocate to. Experience is key in Belfast today, so landlords offering fully fitted and serviced offices need to keep these influences in mind during the design process of their spaces.”
Discussions turned to touching on how evolving working patterns have changed the needs of both employers and employees, and how landlords are responding.
“Some companies seeking to occupy space in Belfast may not be sure what their requirements are when they approach the market,” shared Ronnie. “This is particularly pertinent as businesses work through their hybrid policies, or change them entirely, as we’ve seen recently with Amazon’s plans to have corporate staff back in the office five days per week in 2025.
“We help employers work through these considerations, taking a people-centric approach to every project, as all businesses and teams are unique in their requirements. There’s no one size fits all. Understanding individuals’ preferred working styles and patterns, how teams work together, the type of work they do and what they need from a space is key to creating environments that are optimised for productivity and wellbeing.”
Commenting on the benefits of hosting discussions between disciplines in the office sector, Ronnie concluded: “Getting the opportunity to host the first roundtable of this kind is an honour for Calibro Workspace. Sharing perspectives and listening to others is how we work together to improve people’s experiences of working in Belfast, with the vision of making it the best city it can be.”
