New firms … old assets

Abstract

PurposeThe purpose of this paper is to demonstrate, through the Delphi technique, how demand drivers and accommodation priorities for emerging knowledge‐intensive firms are understood and how corporate property and asset managers can respond to them.Design/methodology/approachThis empirical paper discusses the results emerging from a Delphi study in four rounds with ten experts. This research focuses on the high growth, commercial sector in south‐east Queensland in Australia.FindingsThe accommodation priority demands of knowledge‐intensive firms varied depending on the stage of their lifecycle, that is, start‐up, established or mature. For start‐ups, accommodation cost was of primary importance; however, for the established and mature firms, their priorities were directly related to those supporting the progress of the firms itself and the productivity of its employers.Practical implicationsMany of the findings are likely to be applicable to commercial environments elsewhere and would provide a basis for investors, developers, asset owners and managers to better align their “old” assets, through better asset management, to these “new” firms within this rapidly changing environment.Originality/valueThe use of the Delphi technique in this multi‐faceted research topic captures the practical knowledge, wisdom and intuition of experts who deal with such issues on a day‐to‐day basis. Most real estate issues usually involve diverse specialities and perspectives – this paper illustrates how common ground through consensus can be achieved.