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The Covid-19 pandemic has massively disrupted working life and the commercial property market.
According to Property Council of Australia data, at the start of this year, the office market experienced the largest input of new stock in at least 30 years. Over the period Dec 2014 to Dec 2019, the average yield from CBD has steadily declined by 2.9%. As we approach the end of 2020, yet further new supply is being added as committed projects are completed. This at a time when the financial advantages of working from home are being exploited by organisations of all sizes.
TOver the last six months demand subsides the vacancy rate in Sydney has risen from 3.9% to 5.9% and in Melbourne it's risen from 3.2% to 5.8%. Nationally the rate has passed through 9.5%. In the coming months vacancies is expected to continue on an exponential rise as businesses downscale the amount of expensive office space and transition to digital platforms, working from home arrangement and flexible office arrangement. As a consequence, property owners will have to compete far more aggressively to ensure survival in this market.
Office buildings by virtue of their design, high population density and poor air handling system, represent a high risk of spreading coronavirus. A risk that many organisations are not willing or able to take.
This problem can however be remedied. There are numerous lessons and solutions that can be adapted from areas like hospitals, sterile manufacturing and even aircraft.
Whilst there some are economic and lifestyle advantages of working from home, most business owners are mindful of the new risks that are revealing themselves. Such as impact on culture, mental health, loss of IP, false productivity, opportunities lost due to far less casual interactions between staff, and the ever growing threat of losing work hours to the side-hustle. An unforeseen problem for business owners that has emerged during Covid-19 is the increase in new opportunities that encourage talented employees to become entrepreneurial. More managers are reporting being blindsided by WFH employees departing unexpectedly or starting up in opposition.
The current CovidSAFE office practices of distancing, temperature checking, masks, hand sanitation stations, increased cleaning and improved hygiene are beneficial, they still fall short of protecting from and an infected person entering the office.
For this reason SaniBot has developed a range of solutions that kills airborne and surface bound Coronavirus and well as other infectious pathogens. It does so without using chemicals or increasing labour cost. In fact, our products deliver a Return on Investment in less than 2 years. Furthermore are products are manufactured right here in Australia.
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