• Tuesday, April 16, 2024
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What tenants, investors should look out for in Grade A office space

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An office building is termed prime, not only because it is flexible, technologically-advanced work environment and safe, but also because of the recognition that its users pay special cognizance to work effectiveness and staff well-being.

Grade A or prime offices in London were once constructed to suit the needs of banks and other financial services groups, usually within the parameters of the City of London or the West End. Similar considerations were taken in Nigeria by suppliers of Grade A offices who targeted chiefly corporate organizations and other high-end tenants.

In Grade A buildings, considerations such as design, parking space, accessibility, adequate space and equipment needs of its occupiers; deliberate selection of interior finishes and art installations, well-maintained restrooms, lifts, provision of cafeteria, gym, crèche, smoking patios (terraces) are all factored into the design.

For investors looking out for this grade of offices, there is need to look out for those markers that constitute a ‘Grade A’ commercial space. One of such markers is  the ‘finishing’ which should be of the highest standards

Udo Okonjo, CEO, Fine and Country West Africa, notes that efficiency is a key component in marketing today’s Grade ‘A’ office. “The efficiency of space and energy is a crucial offering and must be communicated as a key feature of the space. This is in keeping with the provision of various workstations and café culture breakout areas, allowing for a greater occupancy ratio than the one person per 10 square metres  the traditional office format provides”, Okonjo says.

Contemporary office design and a layout that portrays a ‘fun’ environment to work in are thought to improve overall staff satisfaction. The sustainable footprint of a building should also cater to greater efficiency.

The premium placed on organizational culture/employee well-being cannot be over-emphasized. The wellbeing of the workforce is now a hot topic in the office market, organizations with a culture of value for employee wellbeing, are looking to be presented with spaces that progress beyond healthy food cafes and complimentary fitness studios.

Elements such as the flow of fresh air in a building, the availability of natural light, the smell of the office and noise levels are critical. Using the office to promote wellbeing is has indeed become standard practice.

Fine and Country says there is a list of about 25 factors that should be present in a commercial space for it to he termed ‘Grade A’,  and these include  car park spaces.  The company explains that the provision of car-park spaces is very critical, especially in the Central Business District of a city like Lagos  as inadequate provision can mar the productivity of users and experiential functionality of the building.

Adequate alternative power-supply systems like power generators and UPS systems should also be provided in a Grade A office building.

Reception with state-of-the-art visitor management/access-control systems, as well as central location for building directory, schedules, and general information are also necessary just as raised floor systems and energy efficiency – motion-sensor lights and motion-sensored water taps should be available.

“Temperature monitoring in the critical areas such as Panel, ATS, Control rooms; and installation of health, safety and environment functionalities such as pressurized and fire-rated stairwells, railings at the staircases of the emergency-exits are necessary”, Okonjo advises.

Continuing, she says, “there are other factors that drive the effective marketing of Grade ‘A’ commercial spaces such as understanding intricate marketing insights like pre-qualifying a client, presentation and strategy that ensures the deal is closed”.

 

  CHUKA UROKO