Property innovates with tech solutions in COVID-19 environment
JLL responds to increased online engagement with a Virtual Leasing Map, giving an interactive bird’s-eye view of office space available to inspect and occupy across Australian office markets
SYDNEY, 18 August 2020 – JLL has launched a new proptech mapping experience that gives prospective office tenants a virtual alternative to an initial physical inspection, speeding up the time it takes to shortlist potential premises.
JLL’s ‘Virtual Leasing Map’ provides a 3D city view of office space for lease across Australian markets, with the Sydney CBD, North Sydney and Parramatta first to launch for featured office buildings.
JLL’s Head of Office Leasing – Australia, Tim O’Connor said, “Much of the current demand in the market is for office space that is already fitted out, which can reduce lead times for office moves and costs. In response, the JLL Virtual Leasing Map can quickly show some of the fitted space that is available across the Sydney CBD, North Sydney and Parramatta with the click of a button.
“The most active segment of the market continues to be tenants seeking space below 800sqm, making up more than 40% of formal briefs year-to-date, with 60% of these tenants focused on fitted space.
“This proptech solution is a game changer when it comes to providing a holistic virtual inspection experience for decision makers. Taking you from a city wide view, right into the specific office floor and surrounding transport networks into the office. We’ve seen a lot of virtual tours emerge pre and particularly during COVID-19, but this experience provides the whole picture scenario which we think will increase productivity in decision making into the future.
“This is particularly important as we see more remote working. Being able to engage and provide the best possible experience to audiences either interstate or in global markets is crucial for us,” said Mr O’Connor.
JLL has piloted the Virtual Leasing Map in the New South Wales office market and plans to extend this to other state office markets.
JLL’s head of Sydney CBD Leasing, Will Hamilton said, “Our Sydney Leasing team has been using virtual inspection technology to cater for a growing online audience as part of the shortlisting process for occupiers. All it takes is booking in a video call with a prospective tenant, and you are able to follow a similar journey to the in-person experience, all within a 15 minute meeting.
“Requests from occupiers and advisors for virtual inspections of office space in the Sydney CBD increased over the past five months, as a result of COVID-19 and social distancing restrictions. JLL adapted to these changes, and through virtual reality technology and video conferencing we provided virtual inspection opportunities for those who needed to continue their search despite ongoing travel and work-from-home restrictions.
“Whilst people are now returning to their CBD offices and requesting physical inspections, the virtual offering has remained popular and important for stakeholders who are unable to travel, or prefer an initial high-level desktop review, given the technology and material now available virtually.
“While a virtual tour is not a substitute for a physical inspection, it enables prospective tenants to conduct an initial review of opportunities in the current climate,” said Mr Hamilton.
JLL’s GIS Manager, Travis Brousseau said, “This is just one example of how we are able to visualise data at JLL. Although GIS has been around for a while, it’s really about the power of data and the content we can visualise. With leading real estate data spanning across the business, there is an opportunity to provide real value to clients.”
About JLL’s Virtual Leasing Map:
JLL’s Virtual Leasing Map utilises JLL’s GIS (Geographic Information Systems) capabilities and uses 3D mapping technology to deliver office leasing data in a visual way. Through this map you can interact with each of our featured buildings and take a virtual tour or view more on the features of the office space available for rent. View the experience here: https://property.jll.com.au/office-lease/sydney-commercial-offices#virtual-map
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.