The model of a hybrid workplace has gained a lot of popularity in recent times – and it is no small wonder that its popularisation has been largely influenced by the COVID-19 outbreak. A hybrid workplace combines office space with options to work remotely, providing flexibility to work from home or other location – while still affording the potential of in-person cooperation and any relevant facilities.
This flexibility aligns seamlessly with the Build to Rent office concept, where commercial spaces are designed to accommodate modern work styles. Build to Rent Melbourne buildings often incorporate flexible office layouts, shared amenities, and smart technology infrastructure with an onus on virtual workspaces, creating an ideal environment for hybrid work arrangements. This combination allows businesses and employees to thrive in a dynamic and adaptable workspace.
A study conducted by the University of Melbourne indicates that almost 70% of Australians who have been working from home during COVID-19 would like to continue doing so; the overwhelming trend towards flexible work arrangements is clearly here to stay.
Counterbalancing this though, various organisations have made a call to return to physical offices at least three days a week, the latest research from the Australian HR Institute reports – revealing that hybrid and flexible work are now widely accepted and in-demand.
These shifting workplace dynamics open up new avenues for Build to Rent developers. Buying commercial real estate has advantages such as control over the property, deductions of applicable mortgage interest, and a potentially sizable profit margin when wanting to sell the property.
On the other hand, certain qualifications might be time-consuming and costly, especially for small business owners. That is why considerations for Build to Rent properties are quickly becoming a prudent option.
Companies that have been contemplating the option of BTR arrangements should expect that if the office space is crucial to their income-generating operations, the associated lease payments would be treated as deductible.
However, though BTR office setups are very flexible and comparatively cheap in the short term, tax matters regarding lease expenses should be closely considered within the context of Australian taxation laws, and the unique circumstances of each business’s use of the leased space.
PDG has been addressing the rising demands for business operations for more than 39 years, as they move to a hybrid mode of functioning. Foregrounding this, our robust experience consists of both Build to Rent Melbourne developments, alongside other high-quality projects that can fit the needs of its residents.
Being a company that has the necessary skills for bringing properties to life, our project delivery group not only holds expertise in designing flexible workspaces, but also in developing Build to Rent buildings like the Liv Munro, the Boyd Village, and the Roden & King. Contact us today to learn more about the future of work, and how PDG can assist in optimising your workspace for the occasions to come.
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