MAJOR SURGE IN VIRTUAL VIEWINGS OF COMMERCIAL BUILDINGS DURING LOCKDOWN

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14.05.2020

MAJOR SURGE IN VIRTUAL VIEWINGS OF COMMERCIAL BUILDINGS DURING LOCKDOWN

Virtual viewings vital tool, in supporting ‘safe working’ as government announces roadmap out of lockdown

Since the start of the lockdown in March BNP Paribas Real Estate has experienced a significant surge in virtual viewings of its commercial properties. In London, views* of virtual tours are up 93 percent in the early days of May, compared to the first weeks in March before the UK went into lockdown (period looked at 10 March – 10 May).

The business is also seeing strong demand for virtual tours in Birmingham, views have skyrocketed showing an increase of 317 percent during the same period.

BNP Paribas Real Estate has been an early adopter of virtual viewings, embracing the technology’s benefits and has been showcasing commercial properties since 2019 with the help of Matterport’s 3D technology. The majority of the business commercial property portfolio was available to view virtually before the lockdown and launching properties online has been an important part of the marketing strategy of office space. The business’ leasing experts have experienced a significant increase in requests for virtual viewings during the lockdown and they have allowed BNP Paribas Real Estate to safely continue its business activity and to support its clients through the pandemic.

Etienne Prongué, Deputy CEO, BNP Paribas Real Estate says:

“With the government announcing the first steps in easing the lockdown, virtual viewings will be instrumental in supporting ‘safe working’. Virtual viewings are here to stay and they will certainly become part of the ‘new normal’. The use of technology has helped us all to stay connected and to get on with life and business in new ways through Zoom, Microsoft Teams and more. The crisis has accelerated the necessity of tech and this is also true for virtual viewings.

The technology speeds up the search process for office space, which is beneficial for both landlords and businesses. It allows businesses, looking for new workspace, to narrow down their search list before undertaking viewings. Organisations get a much greater sense of the space, and how it will work for them before even setting their foot in the property.

It’s really a win-win situation for everyone and on the road back to more normal routines – virtual viewings will play a great role in minimizing unnecessary contact and it will continue to be a vital part of the leasing process long-term.

” Matterport offers a revolutionary way of showcasing spaces in 3D allowing occupiers to get a real sense of the size, space, and dimensions of each floorplate and its facilities through a 360 degree viewing. Tours of the property can be seen from any device.

*Views

A view or visit is when the virtual tour loads successfully and is ready to explore. For embedded tours (e.g. on corporate websites or marketplaces), a view is counted after a user clicks the play button.

MAJOR SURGE IN VIRTUAL VIEWINGS OF COMMERCIAL BUILDINGS DURING LOCKDOWN