Shane Quinn offers insight on the future of commercial property
Monday 6th July 2020
Ausbiz Interview : Shane Quinn
Watch the full interview with Quinn here.
Quintessential Equity Executive Chairman Shane Quinn recently appeared on AusBiz TV to discuss the future of office spaces, and the commercial property investment opportunities opening up in light of COVID-19.
According to Quinn, the jury is still out on exactly what the long-term impacts of COVID-19 will be for office spaces – however, it’s clear that the way we use technology in the workplace is going to change radically.
“The ability of the whole of Australia to quickly pivot to working away from the office and that take up of technology was probably a five-year journey that we did in a two-week period,” says Quinn.
While the impacts of digitisation will likely see businesses requiring less space in the future, Quinn is optimistic that office spaces will continue to be a central hub for businesses and their staff to come together and collaborate.
Looking more broadly at the commercial property sector, Quinn advised investors to always look at the replacement value of buildings to ensure you have a competitive advantage – and warned that industrial property was not immune to disruption.
“Distress in property is slow in its uptake. However, there’s going to be great opportunities for those people who can extract value,” says Quinn.