THE "LIVING WORKPLACE" LAB IS HOW BNP PARIBAS REAL ESTATE INVESTMENT MANAGEMENT IDENTIFIES WHAT TENANTS EXPECT FROM ITS ASSETS*
Staff expectations are changing. Wellbeing in the workplace has become a priority for many occupiers. To attract and retain the best people, the office is becoming a place to visit by choice, somewhere to exchange ideas and use services.
In this context, and as part of its "Living Assets" strategy, BNP Paribas REIM has developed its Living Workplace solution. This reinvents the buildings it manages, considering an office’s new uses, in a meaningful, more responsible and virtuous approach. This solution not only meets tenants' needs but also enhances asset value for investors.
Living Workplace: an effective asset performance driver
For Guillaume Delattre, Chief Investment Officer of BNP Paribas REIM France "this solution boosts our assets' competitiveness and appeal, both in France and in Europe. In each building we select, tenants work with our teams to draw up their own specifications, with a bespoke approach".
Once the needs have been identified, work is carried out to enhance the shared areas of the buildings. These spaces are being redefined by the three-person team devoted to this solution, with new services for working, dining, meeting, concierge services and sports activities. These initiatives are also aligned with the CSR vision of the funds managed by BNP Paribas REIM.
Living Workplace also aims to improve wellbeing and user experience. For example, the approach stimulates all five senses, with lighting and acoustic features, an olfactory signature, biomimetic and plant-based furniture, biophilic and photographic exhibitions, as well as organic and varied catering using locally sourced produce.
A solution that addresses current sustainable development issues
With Living Workplace, BNP Paribas REIM systematically takes an ambitious CSR approach to its refurbishment projects. The design and layout take into account the use of recycled or reused materials, biodiversity and raising occupants' awareness of how their behaviour affects the environment in order to reduce the buildings' carbon and energy footprint.
For example, screens have been installed in the foyers of several assets showing 10- to 30-second video clips on six themes: quality of life at work, CO2 impact, mobility, resources and waste, biodiversity and climate, and environmental standards. These short clips aim to encourage environmentally responsible behaviour in the workplace.
Examples of the initiative at work
Since the launch of the Living Workplace solution in 2020, some 40 buildings owned by funds that are managed by BNP Paribas REIM have been remodelled in France and Europe. The target is to complete a project a month. Here are a few examples:
© BNP Paribas REIM
185 Charles-de-Gaulle in Neuilly-sur-Seine is a 15,000 sqm building that is part of the SCPI Accès Valeur Pierre portfolio. It has been ambitiously refurbished, with the Living Workplace solution playing an integral part.
There is a multi-purpose indoor area with a gym, concierge service, meeting rooms, cafeteria, food court, a tiered forum where colleagues can meet over coffee and events can be held, as well as a roof terrace and indoor garden to promote biodiversity.
© BNP Paribas REIM
The Okabe building is a 24,000 sqm asset in Kremlin Bicêtre, owned by the SCPI Accimmo Pierre. It has a 300 sqm multi-purpose self-service area, with around forty work and relaxation stations. 90% of the furniture used in the project was recycled.
Le Marjolin Work Café
© BNP Paribas REIM
The 5,000 sqm Le Marjolin office building in Levallois is owned by the SCPI Accès Valeur Pierre. An 80 sqm shared space has been fitted out to offer a wide range of services, including a cafeteria, bar, sports room, projection room and the possibility of hosting corporate events. It has 25 work and relaxation stations and broadcasts Living Workplace TV.
“This solution focuses on the user experience. All the shared spaces in the buildings are improved and adapted to new working styles, making it possible to reposition the assets on the market and increase their usage value. It is a key performance driver for our funds, enhancing the assets’ appeal and occupancy rates,” remarks Gilles Cordon, Head of Living Workplace for BNP Paribas REIM.