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Capital Space maintains workspace occupancy during the pandemic

Capital Space maintains workspace occupancy during the pandemic
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Capital Space maintains workspace occupancy during the pandemic
Siobhan Stirling - Sharp Minds Communications for Capital Space by Siobhan Stirling - Sharp Minds Communications for Capital Space
Owner/Director - Sharp Minds Communications Ltd

COVID-19 has made businesses rethink what a working environment looks like, with many of us forced to work from home and adjust to this ‘new normal’. But if you’re thinking this might mean businesses abandoning traditional office spaces as their operational hub, you may find our occupancy rates through the pandemic of interest. We’ve maintained 90% occupancy across our nine business centres throughout lockdown; impressively, our Milton Keynes centre currently has no vacancies. Central to retaining customers has been our ability to adapt the offices to be COVID-secure quickly, and our tireless effort to meet our customers’ needs.

Maintaining occupancy rates across our business centres

At Capital Space, we always strive to maintain 90% occupancy; not only does this help our business model, but it also helps to create a vibrant and productive office space for our clients, who reap the rewards of coming into contact with other businesses of a similar size to them. When the UK started to adopt measures that promoted working from home during the coronavirus pandemic, it left us as a company in an uncertain situation, unsure as to how our customers’ businesses would fare during the pandemic and also whether they would choose to abandon traditional office spaces in a bid to work from home more permanently. In January 2020, prior to the height of the pandemic, we had a 94.6% occupancy rate; as of April 2020, our occupancy stands at 91.6%, highlighting that we are still maintaining very similar levels of customer loyalty despite current circumstances.

Businesses still want offices

For us, this illustrates two important notions. Firstly, that business owners recognise the benefits of still holding a formal office space, including:

  • Giving your team a place to meet
  • Creating a clear work-life division
  • Working alongside other businesses, providing the opportunity to meet potential clients, suppliers and collaborators
  • Giving your business credibility and legitimacy to customers

Customer loyalty prompted by meeting customer needs

The second point that our high occupancy rates demonstrate is that we have kept our customers happy, despite the

conditions created by coronavirus. The Capital Space business accommodation model has been central to attracting SMEs before the pandemic, with  our flexible terms and satellite locations appealing to businesses as we move out of lockdown:

  1. Flexible workspace: We offer simple, monthly licence, which means if your circumstances change, you only have to give us a month’s notice.
  2. Satellite locations: Based around the home counties, within easy reach of London and transport networks, our nine satellite locations are attractive for companies that are rethinking whether they need the costs of premium London offices.
  3. Shorter commutes: Our offices are located in vibrant towns, meaning shorter commutes for staff and a better work-life balance.
  4. Staff wellbeing: Our satellite locations offer more green spaces for relaxing during breaks, while our helpful centre management teams are here to help you run your business, taking away some of the stress so you can concentrate on your core operations.
  5. Simple monthly licence: Our contracts are clear and written in Plain English and carrying the Crystal Mark seal of approval, avoiding complex terms and conditions.
  6. COVID-19 secure office space: We have invested around £15,000 in introducing sanitising, cleaning and social distancing measures to instill confidence in our customers.

Making our offices COVID-19 friendly

Our staff have worked around the clock to ensure that our customers will be able to return to work to ensure we are creating the safest working environment possible. We are ensuring that every office has all the equipment and safety requirements needed to be able to practice social distancing and other practices necessary to keep our customers and their employees safe. We believe that this has been one of the reasons for our high occupancy rates, with customers choosing to retain their licences with us as they know we are working tirelessly to put their needs first.

No vacancies in our Milton Keynes office

Our Milton Keynes business centre has not had any vacancies since lockdown, a statistic that we are particularly proud of.  Two customers did give us notice (one because he needed to shield himself), but we filled these offices with existing customers who wanted to expand their office space, reinforcing that physical offices remain central to the vision of ambitious companies.

We are extremely proud to have maintained our 90%+ occupancy rates during lockdown, demonstrating that there continues to be demand for safe offices, workshops and studios for small- and medium-sized businesses – especially those designed to give business owners the flexibility they need to realise their dreams.

To find out how  Capital Space virtual offices or business premises

could benefit your growing business,

call 0800 107 3667