Cluttons has released a briefing note on the importance of a building’s connectivity in unlocking future commercial property values.
Mobile and internet connections are the fifth essential utility for the modern environment yet the most overlooked when leasing space. Given the fast-paced evolving nature of the sector, landlords who invest in excellent infrastructure are likely to secure tenants for longer periods and potentially achieve higher rental values.
The government is now latching onto the importance of better mobile and internet infrastructure, and they have made it a focal point to extend superfast broadband to 95% of the UK by the end of 2017.
This comes as no surprise given that several emerging markets globally are leap-frogging the adoption of technology and are quickly outpacing the UK in the sophistication of infrastructure on offer to occupiers.
London is for instance, ranked near to the bottom of the internet connectivity league table when looking at Europe, which is both a wakeup call and an opportunity for property developers across the capital. Furthermore, Ofcom has confirmed that businesses representing 4.5 million people in the workforce are being severely impacted by poor connectivity.
The critical path in delivering modern 21st century mobile infrastructure lies in the hands of the government with much of London’s West End for instance lacking the supporting subterranean fibre networks to deliver the office buildings of tomorrow. In parallel, landlords must consider alternatives such as off the shelf wireless solutions, which are widely available, such as enhanced wifi networks and developing solutions in collaboration with the mobile network industry.