Office occupation has increased by 120 per cent compared to the end of August, according to the latest research.
The data comes from the Metrikus Office Occupation Index which is based on real-time monitoring and found that office occupation increased significantly as lockdown measures were eased in August and September.
However, the figures also found that office occupation levels are currently at one-third (33 per cent) of pre-coronavirus levels, but this is still a significant increase on the 15 per cent occupation levels at the end of August.
Michael Grant, Chief Operations Officer at Metrikus, said: “The information we’re getting back from our sensors provides a huge amount of insight to employers keen to support their staff back into a pattern of work that delivers the best outcomes for productivity.”
The figures come as commercial property rents owed reached £3 billion, with the retail sector suffering significant cash flow issues following the impact of the lockdown measures.
A ban on legal action being taken against commercial tenants has ensured the security of business premises but the focus is now sharply on how commercial landlords will recover the rent owed, with the Government introducing a code of practice to provide clarity over rental payments.
The code is voluntary and applies to all commercial leases held by businesses in any sector that has been impacted by the coronavirus pandemic.
The code of practice aims to encourage tenants to pay their rent in full if they able to, and also advises those who can’t pay what they can. The guidance also states that landlords should provide support to businesses if they are in a position to do so.
However, commercial landlords had received just 14 per cent of the rent they were owed at the June quarterly rental deadline, putting them in a difficult position.
The increase in office occupation numbers is a significant boost for the recovery of the commercial property sector, but pressure remains on the Government to ensure the future of the sector.
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