While driving your car still dominates the primary mode of transport in getting to your place of employment, riding a bike is becoming increasingly popular. Many of us seek a healthier life style and want to avoid the frustrations of driving on our congested roads and authorities accommodate this with more bike lanes and new traffic laws.
As a result of this, in recent years we have seen an evolution in the creation of End of Trip facilities in both our new and upgraded city office buildings.
In essence, the End of Trip facility provides secure bicycle parking, locker facilities and change rooms where cyclists are able to shower, change and secure their belongings. Exactly how many features offered varies considerably, be it toiletries and towels, bike repair facilities, nitrogen gas for the bike tyres, the offerings are broad and varied and colourful.
Such a facility is also useful for walkers and joggers who may wish to run or walk to work or simply enjoy a walk or jog during their lunchtime break from the office.
While the End of Trip facility has become a standard feature in almost all new city office buildings, Landlords need to consider the benefits of providing such facilities in existing and older buildings. In such a competitive leasing market, the expectations of tenants and their employees are much more demanding and such a facility may well help secure that lease deal.
Owners of established office buildings are needing to constantly look to refurbishment to keep their building competitive, which also helps drive the potential for rental growth. The inclusion of an End of Trip facility should seriously be considered, both at the time of an established building’s refurbishment and/or with an eye to forthcoming lease expiries.
MRS Property have two recent examples in our Property Management portfolio where the owners have seen the importance of an End of Trip facility in their office building.
With over 80 active bike riders in the 18,000sqm 211 Victoria Square building, the owner, Dragon Alliance, who over the last eight years totally refurbished the building, has also recognised the importance for an End of Trip facility. A new and expanded security card accessed bike parking cage is nearly completed adjacent the carpark. The carefully designed first floor locker and change room facilities with direct stair access from the bike park is under construction and due for completion at the end of May 2016. The facility also includes a drying room for those wet days.
End of Trip facilities need not be limited to CBD office buildings.
Centuria Funds have commenced a $1.5 million refurbishment of a major five level fringe office building at 1 Richmond Road, Keswick. While the refurbishment incorporates façade treatment and a refurbished foyer, agreement has been reached with the State Government tenant to surrender portion of their lettable area to convert to an End of Trip facility, available for all tenants. Work commenced in March 2016 and is due for completion before 30 June 2016.
If you are seriously looking to keep your office building competitive, maximise tenant satisfaction, ensure you have all the competitive features in leasing negotiations and to add value, we strongly recommend consideration be given to providing an End of Trip facility.
Our MRS Property Management team has the experience from a number of new and refurbished buildings as to what is expected in these facilities and would be pleased to assist.