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Why building owners and landlords are elevating their commercial property by offering 'Third Space' facilities

Article by Louise DeVos | August 18, 2021
Why building owners and landlords are elevating their commercial property

A new commercial experience known as the ‘third place’ is a concept that building owners and landlords are adopting across Australia’s office properties in order to attract potential tenants.

The third place or space is distinct from home (first place) and workplace (second place) by virtue of its value-add and additional purpose capabilities. They are a strategic asset that can provide tenants with significant benefits outside of their actual tenancy and acts as an extension of their workspace. It can help to differentiate a building in the current competitive market where building owners and landlords are facing high-levels of vacancy.

End-of-trip facilities

Savvy building owners and landlords are adopting this upgrade to boost the marketability of their commercial buildings. End-of-trip facilities can include bike racks, showers, changing rooms, and in some cases, full fitness facilities. EOT’s are currently a highly sought-after facility for businesses selecting new premises. Not only does it promote wellbeing while encouraging people back to the office who are skeptical about the safety of taking public transport, but it also makes an environmental statement about your company as people prefer to choose zero-carbon ways of transport options over motorised options.

Third spaces

Third spaces also include collaborative engagement facilities and common areas which offer valuable neutral ground for meetings and interactions. These additional amenities are a strategic asset that provides tenants with significant benefits outside of their actual tenancy and acts as an extension of their workspace. It can help to differentiate a building in the current competitive market where building owners and landlords are facing high-levels of vacancy. These free services respond to the evolving needs of business clients by allowing properties to provide the perfect balance between serviced offices and private workspaces.

Talk to Kristy Lee at JDV Projects about your Commercial Asset 0481 733 533 or email her on kristyl@jdvgroup.com.au

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