We have created this new section so that you can access relevant information on
how the Coronavirus is impacting the Flex Workspace industry globally.
- "Lenders did what lenders do: they applied a superior risk premium, about let's say 50 basis points."
- The impact on rent will be more important than the impact on value
- "I don't see French tenants completely shifting to remote work or working from home"
- Work on a retention strategy with members before they leave because it will be much more difficult to get them back later on.
- The coworking sector has been always characterized by its resilience and the coronavirus is not going to be an exception.
- Space-as-a-Service is going to be more understood by corporations from this moment.
- The impact of the virus on real estate has greatly differed depending on the sub-segment: warehouses actually benefited, Loom held on remarkably well
- “The days of: you buy a building, sign a ten-year lease and speak to the tenant in nine and a half years are gone”: the crisis reinforces the pre-existing trend towards a more customer-focused approach in real estate
- “No one had a pandemic playbook for their business prior to covid-19”: expect a re-focus in risk planning and PropTech priorities
- Flexible workspaces are ones of the most affected segment of real estate
- The French gov't put some measures in place (March, 25th) to help both spaces and landlords (with respect to their mortgage obligations)
- If contracts contain a clause of force majeure, it may be applicable here.