Brave Ideas

Andrew Carne, bp’s Global Workplace Procurement Manager & Ciaran Delaney, CEO of MeetingsBooker.com join Bold Founder, Caleb Parker to share insight into their partnership and how bp has balanced the wellbeing of their team members while maintaining their strategic pillars of safety and sustainability. Andrew shares how bp is evolving their portfolio strategy for hybrid working to empower their teams and enable success where face to face may be less frequent, but more valuable than ever before. We hear about how they’ve teamed up with meetingsbooker.com to enable over 10,000 employees to book space for focused or collaborative work (aka meetings with colleagues and customers) either near home or anywhere outside the head office via Meetingbooker’s digital booking tool. bp did a £250M sale and leaseback deal on their London HQ, then right after did a deal with The Office Group for 50,000 SqFt of flexspace. We find out what signal we should take from that. The discussion goes on to cover the future of commercial real estate, including how the hospitality and commercial real estate industries are beginning to merge, with space operators and hotels starting to compete for workspace customers and a look at the parallels in the business travel industry. Watch the video version of this episode here: https://workbold.co.uk/workbold-podcast-season-4-episode-5 *Special shout out to Skift for publishing an early preview of this episode. Skift is the most influential media brand in the global travel industry, also known as the daily homepage of the global travel.  As of last year Skift is a fully-distributed company with no physical offices, and teams across various parts of U.S., Europe and Asia. Thank you Rafat Ali and team! LinkedIn Connect with Andrew on LinkedIn Connect with Ciaran on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs There is considerable change ahead bp is repurposing their portfolio for task based working; will result in a smaller footprint Hybrid working is the future for most people Important to have office environments accessible for certain types of work, and for people who can’t work from home comfortably Duty of care is an important factor when evolving a workplace strategy Meetingsbooker.com helps bp meet their core pillars for development and governance to deliver optimal performance The digital booking platform balances the wellbeing of their team members while maintaining bp’s strategic pillars of safety and sustainability. There is a convergence in demand for workspace and meeting rooms  Hotels are starting to compete for workspace customers Brand is important because it promises a consistent experience The hospitality and commercial real estate industries are beginning to merge Business travel procurement directors and real estate directors of enterprise companies are teaming up on workplace strategy We’re seeing different use cases Some companies are reducing their office footprint, and booking space for their distributed team members to meet weekly Some companies who use workplace choice as a recruitment strategy are giving their distributed teams a budget to book 2 days per week with a local coworking operators across dozens of cities around the world Other companies with thousands of distributed team members are booking quarterly offsites to bring everyone together Digital booking tools are helping enterprise companies navigate this transition period from office first to more agile ways of working Every office landlord should be thinking about offering flexible space for people to tap into Offices won’t go away, but they will become more flexible to manage fluctuating demand Former retail assets will be converted to flexible workspaces to accommodate work near home We’re going to see more hotels partnering with coworking operators Resources Skift preview https://skift.com/2021/04/02/oil-and-gas-giant-bp-as-a-case-study-on-the-future-of-the-workplace/ bp + MB Case Study https://www.meetingsbooker.com/case-studies/bp   About Andrew Carne Andrew is Global Procurement Advisor for bp. Based in London, England, he globally leads the bp meetings and events programme, as part of bp’s global reinvention of the workplace. Digital transformation and supply-chain agility is part of his everyday, to create the ecosystem bp needs today, and tomorrow. About Ciaran Delany Ciaran is CEO and Founder of Meetingsbooker.com (MB), the global leader in meeting and workspace bookings. With over 150,000 spaces globally, MB helps organisations to adapt to the new normal by creating a dedicated enterprise solution for global teams with inbuilt usage, expenditure and safety controls. In his position as founding CEO, he conceived the product vision, concept and direction and scaled the growth of the Meetingsbooker.com with meeting and work space across in 134 countries. In this time, he scaled the team, led product design, online marketing, strategic partnerships, and global enterprise client acquisition. MB has raised over €3 million funding from leading venture capitalists and angel investors. Prior to creating Meetingsbooker.com Ciaran spent 7 years with Tourism Ireland as Market Manager Norway, Italy and then Global Internet Manager. He then became Director of Marketing for the 1,344 bedroom Citywest Hotel where he doubled online revenue and then worked as an independent digital marketing consultant.   Sponsors Fortune Favours the Bold Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co) Future Proof Your Portfolio with NewFlex NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean     This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Mark Gilbreath, Founder and CEO of LiquidSpace, joins Bold Founder, Caleb Parker, to discuss why he believes we’ve reached peak portfolio. Mark says “infinite workplace” enables work from anywhere to proliferate, and as a result 80% of enterprise customers in the US will significantly reduce their leased office portfolios.  We learn about the new LiquidSpace Enterprise solution, and hear stories of their early days with enterprise customers, as well as a new big partnership with Comfy, which provides tens of thousands of workspace options to hundreds of thousands of employees. Mark says landlords need to recognise that flexible use of space must be a principal asset management strategy. Traditional real estate leasing practices do not solve for delivering thousands of workplace options at scale for employees today. The two also discuss how Workplace Brand is going to become a fundamental part of commercial real estate.  Connect with Mark on Twitter Connect with Caleb on Twitter If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs Real estate will become more liquid going forward Mindsets are shifting profoundly in regards to fixed real estate portfolios We’re no longer having a binary debate between working from the office or home. The challenge for enterprise companies is how to provide tools that enable flexibility and workplace choice while maintaining duty of care and ensuring the overall financial objectives of the company are met. Workplace will be a continuum Traditional real estate leasing practices do not solve for delivering thousands of workplace options at scale for employees We are at Peak Portfolio 80%+ of US enterprises will significantly contract their lease office portfolios Infinite workplace enables work from anywhere to proliferate Digital online and mobile transactions have potential to break the broker commission fee model Office landlords must become more liberal in their thinking Landlords need to recognise that flexible use of space must be a principal asset management strategy The 10 year lease and bond-like structure will not be the only asset strategy  Flexible asset strategies complement traditional asset strategies Flexibility has value - the economic activity of an asset with flexibility can be higher than those just deploying traditional leases Occupiers need the ability to easily tap into the thousands of workspace options globally. Workplace Brand is going to become a fundamental part of commercial real estate Workplace is becoming a consumerized experience, and that will scale as employees come back from the pandemic with workplace choice and autonomy We’re going to see people choosing their workplace based on trust, and that’s where brand becomes important Brand creates trust in the experience that will be delivered Landlords who aren’t conscious of the brand experience delivered across their portfolios will see a lag in their economic performance   About Mark Gilbreath Mark is the Founder and CEO of LiquidSpace, which he founded in 2010 and has raised $34.5m from investors, including Reid Hoffman of Greylock partners, Mike maples Jr. of gateway Fund, Roth capital partners, Shasta ventures, CBRE, Steelcase, and the GPT group. He holds a BSEE in Computer Architecture from the University of Virginia. His motto: More happy people working in fewer buildings, the planet smiles.  LiquidSpace invented real-time real estate and disrupted the traditional office industry. Its digital marketplace enables professionals, companies and real estate leaders to fluidly discover, transact, and manage workplaces on flexible terms and puts the commercial real estate buyer in control. The platform provides access to real-time office inventory on flexible terms with over 20,000 venue partners around the world. Sponsors Fortune Favours the Bold Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co) Future Proof Your Portfolio with NewFlex NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Ben Munn, Managing Director and Global Lead of JLL’s flex space solutions joins Bold Founder, Caleb Parker, to discuss the big 30-30 number: JLL predicted 30% of all office space will be flexible by 2030. The two explore the Work From Anywhere (#WFA) movement, what JLL’s customers are saying, and what this means for office landlords. Ben says we’re moving towards a world where “the office” is no longer just the 4 walls that are leased by a company. He believes landlords need to prepare for a world where people aren’t coming into the office every day. Looking ahead there will be a focus on human centric thinking from real estate suppliers. In the near future office assets without Space-as-a-Service will be considered bottom of the market and struggle for demand, therefore producing lower valuations. Caleb and Ben go on to discuss the value drivers in repurposing office buildings by delivering the 5 pillars of Space-as-a-Service to compete for market share in a new flexible and service-driven commercial real estate industry. Connect with Ben on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co   Value Bombs The future is flexible Companies are moving to more agile ways to provide space for their employees The real estate industry is moving to Flex 2.0 There will be a focus on human centric thinking from the supply side of the market Historically the idea of the individual being a customer hasn’t been a thought in commercial real estate Giving employees workplace choice along with flexible working is picking up  We’re moving towards a world where “the office” is no longer just the 4 walls that are leased by a company, but also includes anywhere someone works, including the home, places near home, or elsewhere Workplace choice isn’t new, but historically has been limited to options within the 4 walls of the company’s leased space. Now we’re seeing options beyond the 4 walls. Duty of care of home working is becoming a priority for corporates Stage of life impacts decisions on whether someone chooses to work from home We may see comp packages including workplace choices options where people have a choice to 1) pimp out their home office, 2) work near home or 3) commute into a central office Landlords need to prepare for a world where people aren’t coming into the office every day Target customers can be more diverse than the leaseholder Assets have an opportunity to provide a number of different products than can attract different customers in different ways To be competitive in the future will require proactive customer engagement We won’t see a race to the bottom, there’s going to be a flight to quality Landlords who repurpose their assets to deliver that 5 pillars of Space-as-a-Service and provide a range of service layers, flexibility and diverse products are going to be the winners post pandemic Value will be driven by the sum of multiple income layers across the asset We’re heading towards a future where real estate costs will be optimised based on demand We’ll see real estate being bought in more flexible time increments, and supply will be able to turn costs up and down as a result We’re going to see Landlords partner with multiple workplace brands in multiple markets to target different customers In the near future, office assets without Space-as-a-Service will be considered bottom of the market and struggle for demand, therefore have lower valuations About Ben Munn Ben provides global oversight of JLL’s flexible space offerings, including driving strategy, sales, operations, delivery and product development. With more than 20 years of experience in corporate real estate, flexible space and workplace strategy, Ben is a veteran of the Space-as-a-Service sector. Prior to joining JLL, Ben served in global roles at the Instant Group, Regus and several other leading commercial real estate firms. In addition to leading global marketing, sales and account management for flexible space operators, he has advised investors and corporate clients on flexible space strategies across their portfolios to create long-term value. Sponsors Fortune Favours the Bold   Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Daan van Rossum, Chief Experience Officer (CXO) of workplace experience operator, Dreamplex, joins Bold Founder, Caleb Parker, virtually from Ho Chi Minh City, Vietnam where the future of work is full speed ahead. Get ready to lean in... Daan shares how Dreamplex is helping fast growing companies of 20-200 people compete against the best companies in the world for talent through their “Workplace-Experience-as-a-Service" offering.  Daan explains the principles of UX (user experience) thinking and has advice for office landlords who want to move from B2B to B2C. The conversation dives into data and measuring workspace analytics and ROI, as well as the future of brand in commercial real estate. Connect with Daan on Twitter Connect with Caleb on Twitter If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs Workplace-Experience-as-a-Service: Creating an atmosphere that attracts talent as a service for companies "It’s a lot more than a place to work" Replicating how some of the best companies in the world are developing their office environments Creating campus-style atmospheres Places to socialize, meet other people Personal growth and development honing soft skills and helping with leadership/management training Focused on the Top 10 skills people need in the 21st century Dreamplex targets companies from 20-200 people without HR or training and development teams A brand should target specific customers personas by delivering a specific customer experience Companies have realised that people will do good work even if they aren’t in an office being watched by a manager Companies are embracing cultures of trust and flexible working Space requirements are evolving where companies are shrinking their desk to employee ratio and seeking shared amenity space To improve the customer experience we need to measure space utilisation We need quantitative and qualitative data We should have sensors in spaces to measure actual usage It's important for companies to survey their employees, and office operators should survey their customers on why they use or why they don’t use certain spaces When measuring ROI of sensor technology it’s important to consider the cost of underutilised space. Optimising space makes it more attractive and improves retention The future of commercial real estate will see landlords partnering with specific brands to set themselves apart in targeting specific customers Customers will choose buildings which have the brand that align with their expectations Brand is more about a consistent specific customer experience than a big logo on a building Resources Reinvinting HR (Podcast) Business casual by Morning Brew (Podcast) This Week in Startups (Podcast) Acquired (Podcast) Setting the Table (Book)  About Daan van Rossum Daan is the Chief Experience Officer (CXO) at Dreamplex in Vietnam. He is responsible for the product design and delivery of the Dreamplex customer experience. The company currently operates 5 locations in Vietnam, with plans to triple in the next 2 years to support 30,0000 people by providing Workplace-Experience-as-a-Service. Daan is a believer in brand. Prior to Dreaplex, he worked in marketing strategy for around 15 years in Amsterdam, New York, Chicago, Singapore, and Ho Chi Minh City. He's spoken at conferences across the world and has written for a large number of publications. In 2017, he made a "life pivot" and decided to pursue his "Ikigai" of letting people find their purpose and design their everyday life towards it.  Sponsors Fortune Favours the Bold   Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Basil Demeroutis, Managing Partner of FORE Partnership, a pan-European real estate investor and developer, joins Bold Founder, Caleb Parker, to kick of Episode 1 of Season 4. Basil shares his passion for sustainability, as FORE will be delivering one the first net zero carbon buildings in London, England.  We learn how FORE becoming a B-corp real estate investor helps their assets solve problems for the C-suite making real estate decisions. We get to hear the drivers behind CBRE's Hana deal with FORE’s Windmill Green in Manchester, England where they operate a flexible footprint equal to 25% of the asset. Basil shares why he believes we need to change the way we sell real estate and he says Space-as-a-Service is here to stay while uncovering a new hashtag: #SpaceAsAStrategy Connect with Basil on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co   Value bombs There is a macro metatrend of consuming infrastructure in a different way that we have before. Real estate customers have a layered cake approach to their space requirements.  Instead of taking 20k on 20 year lease - take 10k on lease, 5k on short lease, the rest they infill with SPaaS SPaaS is here to stay and will be more main stream than pre-Covid times "Not all Space-as-a-Service operators are created equal" There bifurcation between good quality operators and those who are simply providing a room and a desk, no differentiated product. Will go by the way of the dinosaurs FORE is delivering the first net zero carbon building in London 20-30% of the asset will be delivered as flex, in partnership with an operator Important to align with the right operator to deliver the asset strategy and purpose Bringing in Space-as-a-Service should be viewed like bringing in property management Building valuations shouldn’t dictate strategy New hashtag: #StrategyAsAService FORE has become a B-corp real estate investor Offering isn’t about ceiling height, windows and sqft, It’s about solutions for C-suite to meet ESG goals "We need to change the way we sell real estate" The value-aligned approach to consumption is beginning to penetrate CRE Space-as-a-Service should think like retail and aim for a ground floor presence Expecting all new developments to have some component of Space-as-a-Service and flexibility #FlexIsWhereItsAt   About Basil Demeroutis Basil is Managing Partner of FORE Partnership. FORE is a pan-European real estate investor and developer that was originally established to invest the funds of billionaire philanthropist and eBay co-founder Jeff Skoll, with a focus on property and driving positive social and environmental impacts. Basil, who is passionate about sustainable property, brings his early background in engineering and finance, then nearly two decades of real estate investing to align the firm’s investment strategy with their investors’ core values and a wider sense of purpose. FORE is a family office, and now invests the money of more than a dozen wealthy individuals and families from around the world, who share a commitment to sustainability and social value. FORE is is active in London and key regional cities including Manchester and Glasgow, as well as on the continent over in Germany. The firm’s main focus is on offices, transforming outdated buildings into modern workspaces that cater for the next generation of occupiers (customers), with a rigorous focus on carbon reduction and positive social impact. Recently completed projects include Windmill Green, the most sustainable new office building in Manchester (and we’re going to hear more about that shortly). FORE is also bringing forward two sustainable offices in Glasgow as well as a major new project at Tower Bridge, in London.   Sponsors Fortune Favours the Bold   Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

We're back for Season 4 of the #WorkBold Podcast! Caleb Parker, Founder of Bold, is back to challenge the status quo in commercial real estate on the only podcast in the world dedicated to the future asset class called Space-as-a-Service (SPaaS). Now downloaded in 50 countries, each week Caleb chats with the leading experts in commercial real estate to prepare you for the new world of service in real estate. This season we have a solid lineup - including JLL, BP, CBRE, FORE Partnership, LiquidSpace, and MeetingsBooker.com to name a few. This podcast is for anyone involved in commercial real estate in any way. If you’re an investor, fund manager, developer, property manager, agent or broker, be sure to subscribe so you don’t miss an episode. Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean   Don't have time to listen? (Read the transcript of this trailer below) Welcome back to the WorkBold podcast  Where we chat with the leaders in commercial real estate to answer all questions Space-as-a-service. This podcast is for anyone involved in commercial real estate in any way. If you’re an investor, fund manager, developer, property manager, agent or broker, be sure to subscribe so you don’t miss an episode. I’m your host, Caleb Parker, and you’re listening to a preview of season 4. Each Sunday over the next 10 weeks we’ll drop a new episode with the leading experts in commercial real estate to prepare you for the new world of service and flexibility. We have a solid lineup, including JLL, BP, CBRE, FORE Partnership, LiquidSpace, MeetingsBooker.com to name a few. If you’re tuning in for the first time, I am Caleb Parker, Founder of Bold, the Space-as-a-Service brand for entrepreneurs and innovators, and as part of the NewFlex family of brands we’re merging property management & Space-as-a-Service to drive asset value and help office customers grow faster. This season is all about the customer experience.  How do we get people to come back to the office after working remotely for the last year? There are a lot of nuances to consider when answering that question. It’s not black and white, unless you’re CEO of a certain investment bank. But for the rest of us leaning into the future, that’s the wrong question. I’ve read a lot of news headlines, article quotes & social media posts/comments by leaders in Commercial Real Estate claiming we need offices to be productive. I’ve read quotes by notable CEOs saying WORK FROM HOME doesn’t work. And while there may be some truth to both, for some people... We also see the world’s biggest banks shedding office space Some of the most innovative & fastest growing companies announce Work From Anywhere (WFA) policies. Spotify announced #WFA one week, then a week later announced they were expanding into 80 new markets.    But the fact is,  offices are needed. Some people don't have a fantastic #WFH environment Some people don't like working alone But, just the same, some people do We’ve got to move beyond sweeping statements in one direction or the other, and acknowledge the truths on both sides of the conversation. My friend, Alex Turner from CBRE, says “It is essential to acknowledge that the office and home environments are increasingly interrelated.” Well said Alex! And while face to face may be less frequent going forward for many, it’s becoming more valuable than ever before. So we must evolve our thinking, and our buildings, to help everyone create better outcomes. In Episode 1, Basil Demeroutis, Founder of Pan-European developer, FORE Partnership, says "we need to change the way we sell real estate." I believe #CRE needs to shift from B2B to B2C in order to win in this new hybrid world. What does this actually mean? To me, it means... 1) First deciding who you want your customer to be. (I’m referring to the end user customer) Are they SMEs that live nearby? Do they work for a corporate? Are they entrepreneurs or innovators? Are they in financial services or law, tech, media etc...? Because that needs to drive the B2C brand strategy, customer experience and ultimately the economics. 2) We need to build the environment and experience to suit THAT customer persona we’ve just identified.. 3) We deploy B2C marketing and customer acquisition campaigns that sell the benefits of choosing to work in our buildings. No one buys a drill because they want a drill, they want a hole in the wall. We’re not selling sqft or sq meters, we’re selling super powers and positive impact. 4) Finally, provide great customer service, consistently, so our customers feel good when they come to work in oour building. That’s how CRE wins in a hybrid world. Otherwise I’m just going to work from my home office. Now don’t get me wrong, evolution isn’t mandatory  But one thing’s for sure, change is certain.   Now I’d like to leave you with a quote from my friend Dror Poleg: “A glass can be half full and remain valuable. An office building can't.”   Thank you for listening, we have a great season ahead with a focus on the customer experience, and more expert discussion on Space-as-a-Service. Don’t forget to subscribe in iTunes, or your preferred podcast listening app. And remember... Fortune Favours the Bold.     Sponsors   Fortune Favours the Bold   Bold helps commercial real estate create & manage flexible spaces to dream, create, share, and succeed in. Now part of NewFlex (www.workbold.co)     Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)     Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)     Subscribe to the #WorkBold Podcast   Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

A bonus episode for Season 3. Our seasons consist of 10 episodes, but a few weeks ago Bold Founder, Caleb Parker, joined Jo Meunier to record an episode of The Future of Work podcast, which is published by Allwork.space, one of the world’s leading publications dedicated to the future of work, including content around Space-as-a-Service. In this episode you’re gonna hear background on the Bold brand, why we believe in challenging the status quo and how we’ve evolved over the last few years. Jo asks about the Bold journey, from what led us to turn down a multi-million pound investment, and then ultimately go on to be acquired by NewFlex. Jo and Caleb chat about the future of work, and how the hospitality and commercial real estate industries are colliding, as well as the growing demand for asset owners to bring more flexibility & service into their buildings This episode was first published on the Allwork website here: https://allwork.space/future-of-work-podcast/  Visit the Bold website at www.workbold.co.uk Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Chris Early, Estates and Development Manager for Telefónica UK, joins Bold Founder, Caleb Parker, to talk about the future of work and how he expects commercial real estate to evolve in the coming years. Chris believes on average we’re all going to need less space post-Covid. He says he expects lease terms to shrink and permit more flexibility, and asks "how efficient is it for a company to provide all the amenities to their team, when they can choose a building where those services are already provided and shared by all customers of that building?" In this episode you're going to hear how Telefónica is leaning into the future with flexible working, Chris’s view on Space-as-a-Service and why he believes BRAND MATTERS to enterprise customers to ensure a consistent experience for their teams. Connect with Chris on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs Telefonica has 26 sites across the UK, and 700,000 SqFt of office space Expects lease terms to shrink and permit more flexibility Looking to trim down legacy low efficient regional sites and focus on the larger hubs How efficient is it for a company to provide all amenities to their team, when they can choose a building where those services are provided and shared by all customers of the building? Some companies will partner with Space-as-a-Service operators to reduce lease liabilities and share with other customers The office of the future  must be super connected, so people can move seamlesly between activity based work settings with whatever device they’re using.  Must have space for introverts and extroverts - we can’t expect everyone to just go work from home On average we’re all going to need less space But we need that space to be more efficient, and we’re going to need to share amenities Flex is not just about lease terms People aren’t going to come back into the office like they did pre-Covid Some companies will democratise workplace choice If people commute less there is an inherent cost savings that could be used for booking Thirdspace Some companies will subsidise their team’s Thirdplace usage Brand matters to enterprise customers to ensure a consistent experience for their teams We could see a future where the CRE Agent/Broker community manages flexible and transient workspace bookings for enterprise employees About Chris Early Chris Early is Estates and Development manager for Telefónica UK, who owns O2, one of the largest telecommunications networks in the United Kingdom. He oversees the entire building life cycle, from acquisition to disposal, as well as office design and fit-out, space management and facilities management. His leadership helps the team deliver an efficient office and technical estate which is designed to meet the needs of a fast-changing business.  Chris came into corporate real estate through an unconventional route. In 2001 he started out as a contractor, managing cell site acquisition in Central London. He then moved from build and implementation roles, through the setup of Cornerstone (the network share with Vodafone) and eventually into his role today in Property. He has a master’s degree in commercial property law. Chris has a particular interest in new ways of working, as a tool to improve the world of work more widely, and he’s focused on helping his team deliver for their customers. Sponsors Fortune Favours the Bold   Bold helps commercial real estate create & manage flexible spaces to dream, create, share, and succeed in. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Daniel Kraft, Partner at Stronghold Invest, the leading property advisory, asset Management, fund management and PropTech company in Northern Europe, joins Bold Founder, Caleb Parker, from Stockholm, Sweden, to talk property company strategy around #PropTech and Space-as-a-Service. **The Group manages €40 billion Euros of commercial real estate and has 495 million square feet across seven countries under their management.** In this episode we cover whether property companies should become tech companies, when it makes sense for PropCos to setup venture arms, and of course Space-as-a-Service demand and valuations. Daniel says becoming a tech company could be a dangerous path for Propcos, but setting up a venture arm could be a good strategy. Demand for Space-as-a-Service is disrupting the value chain in commercial real estate but unfortunately current valuation methodologies are preventing property from evolving to meet customer demand. Within the next 5 years asset owners will have to make a choice WHERE they’re going to sit in the new value chain. Connect with Daniel on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs PropTech Investments Stronghold is a service led company, which enables them to develop PropTech initiatives, test them and then deploy across their portfolio Building data recorded via IoT will become a huge asset to understanding how valuable a property really is Property companies should be looking at PropTech iniatives to improve performance But a property company becoming a tech company is a dangerous path to pursue. The dynamic is very different with a steep learning curve It could make sense for a property company to have a venture arm. That can be a good strategy for business development because you get to see pitches for innovation and decide what to focus on in the property side of the business to improve When you consider starting a venture arm be very clear what outcome you are expecting If the aim is to solve a problem then make an investment from your CAPEX budget. But if the aim is to see a return on investment then it should be done via a fund vehicle Space-as-a-Service There was a pre-Covid trend for bigger companies moving to outsource office portfolios via Space-as-a-Service The Remote working experiment during Covid supports the drive for Space-as-a-Service For the first time people are asking how the office is supporting business objectives The demand for Space-as-a-Service is clear and will continue to increase it’s take up of real estate portfolios on flexible terms This should impact property values, but valuers are still taking a cautious approach Current valuations methodologies are preventing property from evolving to meet demand Right now supply and demand is moving away from each other Due to valuation methods assets with Space-as-a-Service are still considered risky But we’re still in the early stages of evolution of the industry when it comes to Space-as-a-Service The value chain of Space-as-a-Service is still evolving, and property owners haven’t figured out where they fit in the new value chain Currently Stronghold is actively looking to bring Space-as-a-Service into their existing portfolio Within the next 5 years asset owners have to make a choice where they’re going to sit in the value chain Focusing on identifying assets for investment opportunities is one model Creating a service business to manage the asset is another model These 2 models should be separate businesses About Daniel Kraft & Stronghold Invest Daniel Kraft, Partner at Stronghold Invest, the leading property advisory, asset Management, fund management and PropTech company in Northern Europe. The Group manages  €40 billion Euros of commercial real estate and invests more than €1 billion Euros in new properties across Northern Europe annually through it’s wholly owned subsidiaries, Newsec and Niam. As a Group they have 1,800 team members across 40 offices, in 9 countries and major cities like Stockholm, Copenhagen, Helsinki, Oslo and Luxembourg. Newsec is their “full service property house” which includes Asset Management and Advisory with 46 million square meters (that’s over 495 million square feet) across seven countries under their management. Niam is their private equity firm (the largest in northern Europe focused on real estate) with assets under management exceeding €3.5 billion Euros with a global blue chip investor base. Daniel is also Head of Stronghold’s PropTech Ventures, and sits on the Board of numerous portfolio companies. Sponsors Fortune Favours the Bold   Bold helps commercial real estate create & manage flexible spaces to dream, create, share, and succeed in. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe

Chief Marketing & Development Officer Andrea Pirrotti and Director of Real Estate, Emily Larson, from US-based Space-as-a-Service brand, Office Evolution, joins Bold Founder, Caleb Parker, to share why they believe commercial real estate is no longer in the property business. In this episode you'll gain insights into how Office Evolution is growing their brand across U.S. suburban markets through franchise and asset owner partnerships. Landlords are no longer asking IF they need Space-as-a-Service in their portfolios, and are now asking HOW to deploy it. Emily shares her advice for landlords who want to get it right. Andrea says CRE is now in the people business, and as an industry we need to move our mindsets from B2B to H2H (human to human). Connect with Andrea on LinkedIn Connect with Emily on LinkedIn Connect with Caleb on LinkedIn If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs History repeats itself 4 groups are impacted during turbulent times: enterprise companies, their employees, small businesses, and asset owners Facilities cost is the second largest fixed cost on balance sheets for most companies, behind payroll During turbulent times enterprise companies tend to cut labour, and end up with space they’re not using The C-suite sees space as a wasted cost Many people who are laid off start new businesses and need access to office space Historically flex offices thrive in turbulent times Looking ahead "We’re witnessing the perfect storm for Space-as-a-Service growth" The Space-as-a-Service footprint as a ratio to conventional office space is set to double in size over the next 3-4 years The customer pie chart for Space-as-a-Service will see an increase in enterprise customers over the next few years as lease events occur Brokers who do not include Space-as-a-Service into portfolio planning strategies for their enterprise customers are missing their fiduciary responsibility Space-as-a-Service enables portfolio owners to better monetise and enhance their assets Creates a customer feeder for the building Amenitises the building Landlords are no longer asking if we need Space-as-a-Service, and are now asking how do we deploy it Commercial real estate needs to move from B2B to H2H (human to human) CRE is now in the people business, not the property business Office Evolution is growing their brand across suburban markets through franchise and asset owner partnerships Their suburban locations are seeing a return to occupancy and pre-covid lead volume faster than other operators with CBD locations Advice to LLs Not all Space-as-a-Service operators are created equal Choose an brand that fits your building Choose an operator that fits your culture Play to your strengths and outsource the rest Resources: Got Milk campaign: https://www.youtube.com/watch?v=0PAj5X4oYro About Emily Larson Emily has been part of the Office Evolution team for nearly 12 years, and helped launch franchising for the brand back in 2012. She’s had a hand in the real estate and design of every single one of their 72 locations, company-operated and franchise alike, and she built out the Real Estate and Construction Department and foundational processes to support the franchise growth. About Andrea Pirrotti Andrea started her career in the music industry, then found herself at a little known company called Regus where she was the global head of marketing and member of the leadership team that grew the company from $200 million to a billion dollars in Revenue. She’s run sales, marketing and provided advisory services for over 900 coworking locations across 65 countries. She says she “likes to grow things, which is presumably why she joined the Office Evolution team. Speaking of growing things, she’s given birth to two children in one year (who are not twins - how is that even possible!?). Almost as impressive, 4 of the companies that she provided advisory services to have had successful exits. Sponsors Fortune Favours the Bold   Bold helps commercial real estate create & manage flexible spaces to dream, create, share, and succeed in. Now part of NewFlex (www.workbold.co)   Future Proof Your Portfolio with NewFlex   NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)   Launch Your Own Podcast   A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com and www.podcastsyndicator.com)   Subscribe to the #WorkBold Podcast Apple | Spotify | Google | Stitcher | Podbean This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.braveideas.media/subscribe