As far as landlords are concerned BT Group's proposal to consolidate its 300-plus office estate down to around 30 (its ‘Better Workplace Programme’) is going to be either very good news or very bad news depending on whether theirs is a location earmarked for expansion or for closure. The first eight locations into which BT will consolidate their offices have recently been announced; for the most part it's not clear whether BT will be refurbishing existing premises or taking on new buildings, although their headquarters at St Paul's is likely on the way out.
Whilst the latest announcement deals with the "key" locations where BT is to have a presence, existing landlords will perhaps be more concerned about BT's occupancy in fringe locations. From speaking to agents it's clear that some local markets are seeing very little by way of new entrants, and the loss of BT as a tenant may mean an extended void period for a number of unlucky landlords.
Belfast, Birmingham, Bristol, Cardiff, Edinburgh, Ipswich (Adastral Park), London and Manchester will all be home to large BT offices under the programme, which will see more than 300 BT office locations across the UK consolidated to around 30.