Earning the commute starts with technology for enterprises

Whenever a downturn looms, there is a flight in the commercial real-estate sector. With many secondary and other underperforming real-estate and property assets being reassessed, either for changes of use or for redevelopment, the definition of a quality asset needs to be reconsidered. 

There's a practical aspect to this. If a building is facing a change of use, with refurbishment or redevelopment planned, this is the time to reboot, rethink and re-establish the technology inside the building. If an existing building is marked for demolition and a new building erected, the replacement generation of technology will be markedly more advanced from what was previously in place.  

For most commercial real estate, emerging technology has redefined the value and features of precincts. With the COVID-19 pandemic coinciding with the adoption of 5G across Australia, smart connectivity has expanded the offerings of physical infrastructure at the precise moment these precincts began having their roles reconsidered. 

There are many arguments being made for returning to the office environment, be it either a hybrid model or full time. In-person coworking does have clear benefits: collaboration has been found to increase productivity by 25% or more, and the shift to remote work led to a 37% decrease in workplace collaboration.  

The argument for regularly returning to traditional CBD or regional business district precincts, has to stack up against the alternative convenience and flexibility of working at home, or a remote location.

In the digital experience, workers must earn the commute by which case the office must exceed at home. Similarly, team interactions must provide a fundamental benefit for those attending the office. 

Image Source: Adobe Stock

The technology-led redefinition of commercial real estate value can be considered across a number of scenarios. The first is the scope of technology. 

Organisations  have larger budgets than households. As such, the quality, flexibility and scale of technology, connectivity and services they can achieve will always be more sophisticated than individuals. They create a more favourable experience inside the building than can be achieved in a household.

A second scenario of added value comes from the surrounding precincts. When connected, they create incremental benefits in the work context and also after hours. As the use of public fan spaces showed during the 2023 FIFA Women's World Cup, technology-enabled precincts have an exciting potential to create engaging outdoor experiences. 

Developers and commercial building owners have new leverage when they install technology such as 5G Fixed Wireless Access to their assets in ways that embrace what's surrounding the building as well as what's inside.

A third scenario comes with 5G’s ability to segment networks. Floor plates can be configured vertically and horizontally to create bespoke spaces within organisations as well as within buildings, and this can be further enhanced due to the bandwidth available with 5G. These segmented networks allow organisations to prioritise network traffic, creating new opportunities to collaborate and build new experiences for users, customers and employees.

Image Source: Adobe Stock

By no longer needing to fit out buildings with cabled infrastructure, or source the raw materials required to manufacture the wiring, 5G-connected buildings offer a greatly reduced environmental impact. Connectivity, communication and collaboration work fastest and most flexibly when untethered. With more devices being connected in smarter ways, Optus’ work in delivering smart buildings is addressing the construction industry’s significant environmental impacts.  

Connectivity directly influences the value, as well as the sustainability, of any space. The reason being, without connectivity, no one will use that space. Any loss of connectivity leads to a drop in customer experiences just as quickly, a relationship of which retailers are acutely aware. 

As CBDs around Australia rethink their strategies for the future, redefining property asset value based on connectivity, at every tier, is changing the way buildings are utilised and designed, precincts are planned, and suburbs are connected. 

To continue this conversation further, please reach out to your Optus Account Manager or request a call back below.