BLOG – Wildbrook

30th October 2024

WILDBROOK AUTUMN ‘MEET THE EXPERT’ SERIES – JOE AVERILL

The seventh of our ‘Meet The Experts’ blog posts comes from Joe Averill, the founder of Level Workspace.

Joe Averill founded LEVEL Worskpace in February 2022. Some would say a challenging time in the market just 11 months after the final UK lockdown, but not for Joe. In the time that I have known Joe, I would describe him as passionate, courageous and has a positive infectious character.

He was born and raised in Manchester, and has a background which combines both tech and property. Joe was part of a tech business that raised $25 million and scaled from 10 to 100 people, based in Manchester’s very first digital hub – The Sharp Project. He then took a u-turn into the world of property at a commercial leasing agency, quickly identifying that there was a gap in the market to turn the business model on its head and solely represent tenants.

Joe has won various accolades such as; Manchester 30 under 30, Business Development Professional of the Year, and Manchester Young Talent Awards (MYTA) Property Professional of the Year.

For that many award trophies, Joe must be very domesticated with a good duster and some polish.

So, here we go with the seventh edition…

1. Explain LEVEL, and the work that you do?

LEVEL Workspace advisory is a Manchester based workspace advisory that solely represents tenants, NOT landlords. We have built a solid reputation on our unbiased and conflict free advice whilst also achieving tenant’s great commercial deals. In a nutshell we help businesses to find their ideal office space for their people at the best value for their business.

2. A ‘structural change’ has been the industry narrative around the office market, particularly following the global pandemic. As a disruptor in the property industry yourself, how can you advise occupiers on disrupting the market and landlords in particular in this new office world?

You are right, there has been a huge change and we are seeing a huge influx of flex operators in to the office market as well as a new breed of office space in Managed workspace, which blends the benefits of leased and serviced space together becoming popular in Manchester’s office market. It’s important that the leaders have the emotional intelligence to understand how their people want to work and how they can create a workspace solution that serves their team. We are seeing a “flight to quality” with businesses valuing high levels of amenity and service levels; Community, events, gym, on site cafe, flexible leases etc. In addition to this, the workspaces themselves need to be functional, incorporating new ways of working; Meeting rooms with VC facilities, Zoom pods, creative spaces, social spaces and more. Occupiers and landlords need to create spaces together and see their relationship as a partnership – traditionally it has been an “Us VS Them” mentality. There’s a huge gap out there for a landlord to become the ‘tenant friendly landlord’ by providing transparency on costs, commercials and legals.

3. Flight to quality, ‘right sizing’ and location are key themes for occupiers who are making decisions around their office. What other factors do you consider on behalf of clients when it comes to assessing real estate options?

We always assess:

Building amenity – ESG/sustainability, inclusivity, accessibility, on site cafe/restaurants etc;
Local amenity – Transport links, team event socials, restaurants, car parking options, etc;
Ownership – Who owns the building? i) A fund is very different to a private landlord or local Prop Co ii) This impacts commercial discussions iii) It can also impact the level of service as to whether the landlord is client facing or a big fund in London with limited involvement;
Up & coming districts/developments – we keep an eye on the latest districts that may realise their potential in a year or two so our client can get the first mover advantage.

4. In the serviced and managed workspace sector, there has been an influx of new operators arriving in Manchester from London and further afield. Is there too much supply right now, or do you think the supply is being met by the occupational demand?

You are right, there has been a high influx of flex spaces. I think the older specs of serviced offices will struggle as the “New and shiny” spaces arrive into the market. I believe serviced offices are set to thrive as there is no new build pipeline coming into Manchester’s office market which means limited stock options, therefore I believe leased office requirements will have their heads turned to serviced offices in order to satisfy their requirements.

5. If you were given a vacant office building in Manchester with a conventional blank canvas, how would you design this in terms of it meeting various serviced, managed or traditional leased office space?

I would design it as a “managed workspace’. There is limited competition in Manchester for this type of space and there is the demand. I would create a suite with a flexible floor plate to house/separate different departments if required. This space would also have a kitchenette space, breakout space, phone booths/zoom pods, a board room, two smaller meeting rooms. I would market the space as a minimum 2 year term and market the space as an all-inclusive cost to save the tenant the hassle of paying different costs to different parties which would be the case if they chose leased. Further to this I would position the space at 1 person:60 sq ft. The reason for those space ratios? Manchester’s serviced office market ranges from 1 person:28 sq ft at the smaller end to 1 person: 45 sq ft at the top end. It means those considering serviced office space would be enticed as they have more space and wouldn’t be incurring additional meeting room costs, as they’d have their own dedicated spaces for meeting rooms. I would also market the space via global online brokerages as well as the traditional agents.

6. Futureproofing the office through advances in technology and AI is fundamental to maintain a best in class offering for owners, landlords and operators alike. What are some of the latest technologies that you have seen and how exciting is this for the office sector?

I really like ‘Blinktime‘ as it addresses one of the biggest challenges right now in the world of office space – attendance levels. It’s a hybrid working tool designed to optimise and encourage usage of office space whilst providing key data. They provide visibility on who will be in the office on certain days. They also have bonus ‘added flexibility’ features to make attendance more appealing while juggling childcare, appointments, or other personal activities.

7. LEVEL Workspace is a niche, yet highly energetic and thriving successful business. What is next for LEVEL?

We are currently focusing on the stabilisation of the business at the moment as we have transitioned from a start-up to scale up. We are keen to focus on what is in front of us rather than looking too far ahead. Our objective is to establish the business here in Manchester and make sure we create a solid foundation to build upon.

Light Stuff:

1. Where have you holidayed this year?

Corfu and Albania – highly recommended!

2. British summertime has officially now ended. If you could now go to your favourite location for a break, where would this be and why?

Italy. The country is beautiful – easy to get around – I don’t like staying in one place therefore travelling to places in close proximities appeals to me and Italy has great variety in abundance. I am a foodie and red wine lover too which also helps the cause!

3. What thing(s) inspires you the most and why?

My Ma n Pa! Watching their relentless selflessness and work ethic over the years whilst always keeping their sense of humour has always and will always inspire me.

4. Favourite book or podcast?

Book – The Good Psychopaths guide to success. It’s the analysis by Dr Kevin Dutton of SAS soldier Andy McNab and it’s such an interesting read!!

5. Dead or Alive: if you could have a dream party guest list for Christmas dinner this year, which 4 guests would you invite?

First name on the list… the Iron Man Neil Higson obviously. Then Ricky Gervais, Andy McNab and Will Ferrell.

We want to say a big thank you to Joe Averill for this blog piece and you can find out all about LEVEL and their services, at the following link: Level Workspace

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8th October 2024

WILDBROOK AUTUMN CPD SERIES – MICHELLE ROTHWELL

The sixth of our CPD Series blog posts comes from Michelle Rothwell, the founder of Watch This Space. Michelle set up investment and urban development company, Watch This Space, in 2016 following her successes at Capital & Centric and CBRE. We have known Michelle from her time at CBRE when joint agents on some office […]

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