The UK’s office market has changed beyond recognition. Today there exists the best and the rest as investors, occupiers and ultimately employees flock to quality. And while location, location, location has long been the mainstay of property selection, experience, connectivity and community are fast becoming critical factors when it comes to choosing a workspace.
To that end, EG, in partnership with real estate experience platform HqO, has announced the launch of the EG Power Properties List. This new programme will recognise the buildings, offices and amenity spaces that provide occupiers and their employees with the best experiences through innovative, engaging and productive spaces to work in.
Utilising HqO’s Real Estate Experience Platform proven methodology, coupled with insights on sustainability, connectivity plus key commercial comparables, the EG Power Properties List will highlight the spaces leading the way in people-centric real estate experiences.
The inaugural EG Power Properties List will be published in EG Magazine, as well as featuring at EG’s The Future of the Workplace event in June with an interactive discussion about the power of experience in the future of the workplace.
“The workplace is transitioning from a mere cost centre into an experience economy,” says Samuel Warren, vice president – EMEA at HqO. “As what constitutes an engaging and productive workplace evolves, properties too must evolve, transforming into hubs that cultivate exceptional employee experiences and empower businesses to attract, engage and retain top talent. This in turn will deliver a demonstrably higher return on investment.
“We are so proud to partner with EG, which shares in our vision and commitment to support the industry in this critical evolution. Together, through the Power Properties List, we will be able to recognise and support the most customer-focused owners, operators and occupiers who are investing in their real estate experience strategy to increase leasing velocity, optimise operating expenses, increase tenant retention and ultimately drive net operating income.”
To make it onto the EG Power Properties List, office properties and spaces must first earn an HqO Best Spaces to Work certification, the only recognition that validates end-user real estate experiences in physical spaces across the globe.
To secure this designation, participating organisations need only to launch the Best Spaces to Work assessment. This survey takes no more than 10 minutes for the end-user of a particular space to complete and focuses on the importance of three categories of office experience: cultural aspects, activities, and physical and service features.
Once the REX Assessment has been completed for a space, its REX Score – the quality measure of end-user experience within a space – will be generated. If that score beats the HqO REX Index benchmark, it will earn the Best Spaces to Work certification, in turn making the space automatically eligible to be considered for EG’s Power Properties List.
Following the launch of the Best Spaces to Work programme earlier this year, HqO has certified the first UK property, Related Argent’s King’s Cross in London.
“Our vision for King’s Cross has always been ambitious: to transform a former industrial wasteland into a vibrant, mixed-use destination that fosters innovation, creativity and community,” says Henry Shearer, head of office and investment, King’s Cross, at Related Argent. “Data-driven strategies and partnerships have been instrumental in achieving this, allowing us to understand occupier needs, optimise the experience of our spaces and create a truly unique offering that attracts not just businesses but residents and visitors alike.
“By harnessing critical end-user insights using HqO’s REX Platform, we’re not only meeting occupier needs, but proactively shaping a future-proof workplace environment that will support our occupiers to attract and retain the best talent. We believe this customer-first, data-driven approach has positioned us perfectly for HqO’s Best Spaces to Work certification. We have worked hard to set a new standard for intelligent, people-focused workspaces, so we are delighted to be the first estate in the UK to be recognised.”
With the REX Score, the Best Spaces to Work certification and now the EG Power Properties List, HqO hopes to redefine the way physical spaces are built, experienced and evaluated – that being completely around the end-user – so that they can play their part in helping create spaces that truly serve the evolving needs of those who use them.
As the flight to quality continues to build and investors, occupiers and employees demand more and more from commercial real estate, understanding the power of experience has never been more important. For companies looking to lead the way and win in the race to the top, securing a spot on the EG Power Properties List, powered by HqO, is an invaluable place to start.
Companies wanting to make it on to the Power Properties list have until 17 May to register for the Best Spaces to Work certification.
To learn more, click here.
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