The post-pandemic world hasn’t just changed where we work—it’s fundamentally reshaped what the office means. In cities across the UK, once-prized corporate spaces are now sitting underutilised, prompting CRE professionals to ask a big question: what’s next for office assets?
At Nimbus, we’ve been exploring this question in detail. Our latest report, Offices Reimagined, digs into the reality of hybrid working and what it means for the future of office investment. Spoiler: there’s opportunity everywhere—but it’s not where it used to be.
Let’s take a closer look at what’s really happening in the office market, and why smart investors are shifting their approach.
The great occupancy divide
Walk through any major city and the signs are obvious—empty desks, reduced footfall, and buildings operating well below capacity. Hybrid working is no longer a trend, it’s the new standard. But the impact isn’t uniform.
Offices in well-connected, high-amenity locations continue to attract tenants and footfall. Meanwhile, secondary or poorly located offices—particularly those built before 2000—are struggling to retain occupiers. Our analysis shows a widening divide between these two tiers.
This is creating a polarised market. Prime stock remains resilient, while a large volume of underperforming space presents both a challenge and an opportunity.
A stockpile of stranded assets
According to our research, over 55,000 office buildings in England and Wales have been identified as underutilised, based on a combination of footfall, planning data, and property characteristics. That’s a significant portion of the UK’s office landscape potentially ripe for reimagining.
What’s more, many of these assets already carry red flags:
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Outdated energy performance – Offices with low EPC ratings will face regulatory pressure.
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Limited amenities – The hybrid workforce wants more than just a desk.
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Planning friction – Not all sites are straightforward to repurpose.
But for the right investor or developer, these challenges can be turned into value.
Conversion: More viable than you think
With permitted development rights (PDR) in place for converting offices to residential use (Class MA), many properties can now be repurposed without the delays of full planning applications.
This has opened up huge potential—particularly in town centres and suburban hubs where housing demand remains high. But the real value lies in knowing which buildings qualify and are commercially viable.
At Nimbus, we’ve developed tools to assess this at speed, layering footfall data, planning history, ownership information, and EPC insights to pinpoint high-potential office assets. In doing so, we help commercial professionals make informed decisions—quickly.
Retail meets office: A merging opportunity
Interestingly, our research also shows an overlap between struggling office stock and retail real estate. As traditional high streets continue to evolve, mixed-use schemes combining residential, retail, and flexible workspace are becoming increasingly attractive.
This opens up new models:
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Residential above retail: repurposing upper-floor offices into flats.
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Work-near-home hubs: localised co-working spaces in retail centres.
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Community-led schemes: blending amenity spaces with flexible work zones.
Investors who understand the dynamics of both office and retail are particularly well-placed to capitalise.
Sustainability is no longer optional
ESG has moved from a nice-to-have to a regulatory and reputational imperative. For office stock, especially those built before modern energy standards, this presents a double-edged sword.
On the one hand, non-compliant properties risk becoming obsolete or “stranded”. On the other, they represent a clear upgrade opportunity. Investors and developers who can retrofit or reposition these assets will unlock long-term value and tenant appeal.
Key triggers for ESG-led redevelopment include:
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EPC ratings below C (increasingly restricted for leasing).
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Poor air quality or ventilation.
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Lack of biodiversity or green infrastructure.
The upshot? ESG is not just about compliance—it’s a route to differentiation.
The data edge: How to spot opportunity before others do
Traditional methods of finding investment opportunities are no longer enough. The smartest CRE professionals are leveraging data to work smarter, not just harder.
At Nimbus, we’ve created a way to quickly evaluate:
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Footfall trends across towns and cities.
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EPC and planning data for individual office buildings.
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Ownership structures and Title information.
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Proximity to amenities, transport links, and schools.
This is what allows our users to identify viable office-to-resi or office-to-mixed-use conversion opportunities before they hit the wider market.
In a time of market uncertainty, having that edge is everything.
Where do we go from here?
The future of the office isn’t dead—it’s being redefined. Across the UK, we’re seeing renewed demand for flexible, sustainable, community-integrated workspaces.
And while hybrid working has undoubtedly reduced demand for traditional space, it’s also created new demand elsewhere: for local hubs, high-quality refurbishments, and creative conversions that meet today’s work-life expectations.
The next generation of successful CRE professionals won’t be those who chase yesterday’s models—they’ll be the ones who see the future and move fast.
Let’s reimagine the office—together
At Nimbus, we believe the key to unlocking the future of office investment lies in understanding both the data and the context. That’s why we’ve built tools that don’t just show you the ‘what’—but also the ‘why’ and the ‘where next’.
If you’re ready to turn stranded office assets into standout opportunities, we’re here to help. Click the button below to see Nimbus in action today. Alternatively, you can download our latest office report here.
