Recently, Oyster hosted a roundtable breakfast bringing together senior leaders from across the Central London real estate market, including representatives from estates, investors, developers, and property management companies responsible for some of London’s most recognisable buildings.
The discussion covered everything from occupier expectations and operational delivery to customer experience, managing agent performance and the future management of iconic London assets.
What became immediately clear was that the role of property management is evolving rapidly, and the expectations placed on landlords, operators and managing agents are changing alongside it.
Here are some of the key themes that emerged from the discussion.
Property Management Is Becoming Increasingly Strategic
One of the strongest themes throughout the breakfast was the shift in how property management is viewed within the industry.
Historically, property management was often seen as a compliance led or operational support function. Today, it is increasingly tied directly to occupier retention, customer experience, operational performance and ultimately, asset value.
Several attendees discussed how property management has become far more integrated with asset management and leasing strategy, particularly within premium office and mixed use environments.
As one participant summarised:
“Property management has become an extension of asset management.”
That evolution is reshaping both how buildings are operated and the type of talent businesses are looking to attract.
Occupier Expectations Have Shifted Permanently
The group also discussed how occupier expectations have changed significantly post pandemic.
Modern occupiers increasingly expect hospitality style service, high quality amenities, flexible working environments, wellness initiatives and stronger communication from landlords and operators.
The conversation highlighted how the best performing buildings are no longer competing purely on location or specification alone, but increasingly on experience and service delivery.
There was broad agreement that occupier experience now plays a major role in both retention and leasing performance.
Hospitality Thinking Is Influencing Real Estate
A recurring topic throughout the morning was the growing overlap between hospitality and commercial real estate.
From customer experience managers and occupier events to service led operational models, many landlords are now operating buildings with a far greater focus on customer engagement and community building.
Several attendees noted that this shift is changing the skills required within property and operational teams.
Communication, responsiveness, relationship management and customer facing confidence are becoming increasingly valuable alongside technical expertise.
As one attendee commented:
“It’s still a people business.”
That point resonated throughout the discussion. While technology and operational systems continue to evolve, the quality of communication and service delivery remains central to the occupier experience.
Managing Agent Relationships Are Under Greater Scrutiny
Another major theme was the increasing pressure on traditional managing agent models.
There was open discussion around service quality, communication standards, operational accountability and the challenges caused by fragmented delivery structures and disconnected finance and operational teams.
Many participants highlighted the importance of stronger integration between property management, facilities management, finance, customer experience and asset management functions.
There was also discussion around whether the market is ready for new operational models and more specialist service providers capable of delivering a more joined up occupier experience.
Return To Office Is Accelerating Demand For Best In Class Buildings
One of the clearest themes from the discussion was that return to office trends are not benefiting all buildings equally.
While hybrid working continues to shape occupier behaviour, attendees agreed that the strongest demand is increasingly concentrated around high quality, experience led buildings in prime Central London locations.
As businesses encourage employees back into the office, occupiers are becoming far more selective about the environments they choose. Amenities, hospitality style service, sustainability credentials, wellness provision and operational quality are now playing a major role in leasing decisions.
Several attendees discussed how this is creating a widening gap between best-in-class buildings and secondary stock, with premium assets continuing to outperform as occupiers prioritise spaces capable of supporting collaboration, culture and employee experience.
The discussion reinforced the view that the office market itself has not weakened in the way many predicted. Instead, the expectations placed on office environments have fundamentally changed.
Technology, ESG and Operational Complexity Continue To Grow
The conversation also touched on the increasing operational complexity facing landlords and operators.
From ESG targets and smart building technology to data utilisation and sustainability expectations, operational teams are now managing far broader responsibilities than they were even five years ago.
However, attendees also acknowledged that technology alone is not the solution.
Ultimately, successful buildings still rely heavily on strong communication, responsive service, operational visibility and effective people management.
Final Thoughts
One of the most interesting outcomes from the discussion was how aligned many attendees were around the direction of travel for the market.
The future management of London’s iconic buildings appears increasingly centred around customer experience, operational excellence, hospitality led thinking and integrated service delivery.
As occupier expectations continue to evolve, the ability to combine operational expertise with strong relationship management and service led thinking is becoming a defining factor across the industry.
At Oyster, conversations like these are invaluable. They not only provide insight into how the market is evolving, but also highlight how the talent requirements across real estate are continuing to change alongside it.
A huge thank you to everyone who joined the discussion and contributed their perspectives.