LONDON-Landlords should seriously consider wiring office buildings if they are to gain a competitive advantage, according to Weatherall Green & Smith Associate Director Nigel Almond. The market is changing for good, despite the recent falls in the stock market, rising debt levels in the telecoms sector and the overall economic slowdown across the globe, he said.

Speaking at the RICS Foundation’s Cutting Edge conference in Oxford, Almond said research had identified how a number of large property companies are already adopting strategies to provide telecommunications as standard within office buildings, as a response to developments in the US. ‘In embracing such initiatives, companies will benefit from a first mover advantage, including potential higher investment values, increased income, fewer void periods and tenant loyalty,’ he said.

‘With more traditional firms now embracing broadband communications, the potential exists to extend the traditional role of landlord and tenant through the supply of telecommunications and related services. There are, of course, a number of potential pitfalls which need consideration in the decision process,’ Almond said.And he warned the impact would not just be felt in the office sector offices either; with industrial, retail, hotels, leisure and residential properties all likely to be affected.

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