Occupiers show cautious optimism
According to new research into occupier conditions in the EMEA region, Jones Lang LaSalle says companies are exercising “cautious” optimism in their property decisions. They are making plans in preparation for growth as and where it returns, and are trying to strike a balance between short-term corporate profitability and medium-term strategic objectives.
The group’s new research argues that careful portfolio planning at this stage could make a significant, sustained and cost-effective contribution to occupiers emerging from “pure survival mode” that are seeking to plan for their medium-term development.
Lee Elliot, head of EMEA occupier research at Jones Lang LaSalle, says the window of opportunity for occupiers to secure high-quality premises in tenant-friendly market conditions is now about 12 to 18 months in length. This window is even shorter at the prime end of the market, he adds.
Vincent Lottefier, CEO of EMEA corporate solutions at the group, says that while the scale of activity in the second half of 2010 remains to be seen, it is clear that “it will be activity not born purely out of survival instinct but rather through careful consideration of the longer term future and needs of the business.”
