Invitation to Tender: BCO Research Project - The Future of Office Parks

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Invitation to Tender: BCO Research Project - The Future of Office Parks

13 Jun 2018

The BCO is pleased to invite your company to submit a research proposal for an important research study as described below.

Background

Office parks were once a highly favoured investment sector. A large number were developed in the 1980s and 1990s, in part aided by motorway construction, such as the M25 which enhanced accessibility.

However, in recent years business parks have fallen out of favour with investors and to some extent occupiers too.

This has been fuelled to a certain extent by a movement back to central city locations by both occupiers and residents. The centres of Britain’s major cities have experienced considerable regeneration and have become much more attractive places to live and work. There has been an increasing preference for inner city living, walking, bicycling, and public transport, especially for younger people and those in the growing digital tech sector.

Consequently, the future for office parks is looking more challenged, with many of the original business parks starting to suffer from obsolescence.

Research objectives

This project aims to examine what the future holds for business parks and should fulfil the following objectives:

 Understand the nature of the UK business park market and the different types of office park for example urban office parks (for example Chiswick Park), major office parks (Birmingham Business Park, Stockley Park) and smaller ‘clusters’

 Comment on the prospects for each type and provide an overview of the main challenges and opportunities for business parks.

 Understand whether business parks are fit for purpose in light of the current trends in office occupation and changing growth business sectors.

 An assessment of the impact of the ownership structure on the performance of the business park today and in the future. In particular, does multi-ownership lead to problems in terms of the lack of a masterplan for such assets?

 An assessment of the alternatives for business parks if they are deemed to be increasingly obsolete. How can rising vacancy rates and subdued rental rates be combatted?

 The report should explore some alternative options such as, but not exclusively, housing, conversion to alternative uses, mixed use.

The above list is not exhaustive, the project should include other key issues thought relevant.

This study is proposed to be forward looking but with practical application today. We would suggest limiting the future view to within the next 5-10 years (as a maximum) ensure relevance to decision making in the short term.

Download specification.

Any queries regarding this specification should be addressed to:

Arezou Said 
Director of Research and Policy 
BCO 
78-79 Leadenhall Street 
London EC3A 3DH 

T 020 7280 9683 
F 020 7626 1553 
E arezou.said@bco.org.uk 


Deadline for the proposal is 27 July 2018 at 5pm and it should be submitted by email to arezou.said@bco.org.uk.

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