Real estate experience platform HqO announced the launch of “2024 Best Spaces to Work in London,” the only recognition and certification program dedicated to scoring and validating end-user real estate experiences in spaces across the city. This comes on the heels of the program’s successful launch in the U.S. just a few weeks prior in Boston.
Published quarterly, the list will be based on real estate experience data from occupiers and their employees gathered through HqO’s proprietary Intelligence suite of products leveraging the world’s most powerful and trusted employee experience assessment framework. This news follows HqO’s recent £40 million Series D funding announcement and launch of its Real Estate Experience (REX) platform.
“London is one of the most vibrant cities in the world, with a workforce of 5.5 million, including 650,000 finance professionals in the city alone. Best Spaces to Work plays a pivotal role in pinpointing the properties, offices and amenities throughout London that provide the exceptional experiences employees now demand throughout their workday,” said Samuel Warren, vice president-EMEA of HqO. “The pandemic compelled the commercial real estate sector to shift towards a customer-oriented approach, and the tangible results are evident in the data. Owners and operators who prioritize end-user experience are achieving higher rents, lower vacancy and their occupiers are seeing higher levels of employee retention.”
To participate in the program, nominated spaces — buildings, offices and amenities — undergo a REX Assessment to generate their REX Score, the quality measure of the end-user experiences within their space. Scores are then compared with data gathered over the last decade from over 8,000 workplaces and more than 1.7 million employees. If a REX Score meets or exceeds benchmarks from this data, the space will be certified and promoted as one of the Best Spaces to Work in London.
“For the first time in the history of the commercial real estate industry, prioritizing the end-user experience within workspaces is not merely a choice, it is critical for future success,” remarked Chase Garbarino, co-founder and CEO at HqO. “With office occupancy at an unprecedented low and the competition for top talent reaching new heights, maintaining a strong REX Score will provide a competitive edge in this rapidly evolving market. This is precisely why HqO has introduced its Best Spaces to Work program to Boston and now London. We aim to spotlight the most exceptional workspaces — spaces that are revitalizing workplace culture, fostering community and enhancing engagement. Undoubtedly, this program will prove to be a game-changer for tenant and employee acquisition and retention.”
Best Spaces to Work will soon be rolling out to other major cities around the world, including Paris, Amsterdam, New York, Chicago and Washington, D.C.
