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Tenant Experience

30th March 2021

Partnering with agents to bring space to life

Freddie Pritchard-Smith

CO FOUNDER DIRECTOR OF TECHNOLOGY & TENANT EXPERIENCE

As we all look forward to life after lockdown, we have been speaking with our network of commercial agents about the new demands from businesses returning to the workplace. Sweeping generalisations about the future of the office have not stopped transactions happening. However, as the expectations of tenants have changed, so too has their approach to acquiring new space. With so much change afoot, we believe there’s no better time than now to shake up the viewing experience for good.

CAT A+ means different things to each landlord and agent but at TX we define it as a full turnkey space designed and delivered by the landlord and ready for occupation. It’s become almost an industry standard to have some element of built space on site but historically the concept was only adopted after 11 months of void, which is well in excess of the typical void assumptions agents would have anticipated even in the pre-covid era.

What we’re now hearing from both agents and landlords is that fitted space is becoming part of the pre-completion rationale for developments – a tool to market space in the first instance rather than a solution for hard-to-let spaces later down the line. However, as more landlords turn to this offering much sooner in their strategy, they face another challenge - differentiating their building from the rest.

Engage the imagination

From our engagement with agents, there has been a reoccurring theme from both disposal and acquiring agents: The need to capture the imagination and commitment of a tenant, who may viewing ten other buildings on the same day, has never been as challenging or as important.

Working so closely with occupiers has helped us understand that a space plan and a single CGI simply isn’t enough to influence a decision. TX focuses on a more immersive experience to bring the space to life in a buyer’s mind. The TX app and on-site hosting experience elevates the usual Cat A+ viewing, making it far easier for agents to showcase a building and highlight all the features that make it the right fit for the prospective occupier.

The Tenant Experience

We know that our application is not suitable to every building and market, but what we do know is what tenants want on-site and that is where the collaboration gets exciting.

Our Hosts stem from a design background and join the agent tour to talk through the existing details of a space, highlighting those that can be adapted or replaced to fulfil their requirements better. Using bespoke technology, tenants can record their preferences and choose their own finishes for the building they’re standing in, providing a truly unique experience, the details of which are emailed to them immediately after.

"Managed tenants desperately want to influence design as many of them are leaving co-working spaces where they've had no way to align their office design with their brand or culture. TX is a game-changer for the managed requirements in the market" ~ Max Linder

Tried and tested

Companies like Clearbell, who have appointed TX at the Kodak Building and Brownlow Yard, are beginning to market their portfolio in a way that gives tenants a far deeper understanding of what could be their next office space.

Agents have also welcomed the opportunity to work with TX , despite the need to extend viewing tours to allow clients to enjoy a drink and design their new office while they’re there.

"Very impressive technology which will help lots of occupiers and landlords in bridging the gap with CAT A+" ~ Harry Neal

From bespoke music playlists to signature scents, our Creative Lead Amelia Haines is always finding new ways to engage the senses and imagination. Our aim is always to create a space that tenants want to spend more time in and will find hard to forget.

The best way to understand this is to book in to see one of our properties or to come to our office on Old Street where you can redesign our space.