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  • What is the future of property in a city like London and in other places are people going to come back?

  • Do you think?

  • Will there be an office environment for companies going forward?

  • What are your thoughts on the whole sector?

  • Interesting question.

  • Mhm.

  • People like Goldman Sachs and some of us, Google or whoever they are, they've total that employees don't come back to April.

  • Now.

  • What do you mean by that?

  • I mean, they don't actually need ah, 100,000 square feet.

  • Do they mean they don't actually need 800,000 square feet of office?

  • Is because you don't come back till April Means you're quite happy we can run our business.

  • You sit at home on your arm chairs with your Apple Mac or Apple PC, and you do your communication and all that stuff.

  • If that's the case, what you got?

  • What have you got?

  • 200,000 square feet of office is slap bang in the middle of city, right?

  • Paying £90.100 pounds a square foot.

  • So is he going to come back?

  • I don't know.

  • I don't know, because I think there's a lot of people have got to become complacent.

  • Imagine all those Goldman Sachs and other bankers that have got very used to this life that they're living at the moment sitting up in there pajama trousers in front of their PC, logging in high.

  • Yeah.

  • Hello.

  • How are you?

  • I'm fine.

  • I'm just getting across on from Starbucks.

  • 20 minute, you know.

  • Yeah, right.

  • I'm doing my work.

  • I'm getting on with it on all that stuff.

  • Yeah, but actually, they're out walking the dog, you know?

  • And so will the city ever come back?

  • I don't know.

  • I don't know.

  • Is it fashionable?

  • Then you got Brexit, which we've all forgotten about.

  • Where if actually there was a migration off bankers that left the city right and went to places like Paris on Frank for because England was considered to be the central hub off commerce, off banking, eso before forgotten about Brexit Quite understandably, because its second on the agenda at the moment, it was for us.

  • Coach's concern.

  • Um, I don't know.

  • I really don't know.

  • We're you know, we see our tenants in London not wanting to play their rent, not wanting Thio renew their leases and all that stuff.

  • So now small, I say small way.

  • We're still quite a large business, but but effectively, they've got leases, and legally they are bound to pay their rent.

  • Otherwise, go bust.

  • Uh, I we haven't had that many.

  • Go bust us, quite frankly.

  • Yeah, Z, I think it's on Lee.

  • A matter of time before these big corporations realized working from home.

  • It does not work.

  • You get maybe 30% of the ideas.

  • I don't think Amstrad could have been created with people working at home.

  • My business couldn't have been.

  • I mean, the reason innovation happens will tell me if you agree.

  • Lord Sugar is when people are in the same room, you know?

  • And they bounce off ideas with each other and they come up with these great new business ideas.

  • Absolutely.

  • Absolutely, absolutely.

  • Yeah, but there's a complacency, as I said to have much earlier on in this interview.

  • You're a young executive now.

  • That is not an Alan Sugar's not focused on building an empire personally for themselves, happy with their salary.

  • They're being paid and focused very much on their leisure life and all that stuff, you know?

  • So I'm sitting at home at the moment with my laptop.

  • Uh, well, you know, why should I go back to work?

  • Unless my bosses may get your ass back here.

  • Now, Now.

  • Well, you're fired.

  • A simple as that.

  • No excuses.

  • But when you've got the prime minister occasionally saying, if you could work from home, try to do it.

  • You know, try to do it.

  • And all that stuff not helpful.

  • What you should say is get off your bloody house and get back.

  • Can't say it now.

  • Can't say it now because we're in the second wave.

  • My wife Wild, my wife.

What is the future of property in a city like London and in other places are people going to come back?

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OFFICE ENVIRONMENT: Why I'm Not Sure Whether The Office Environment Will Return - Lord Alan Sugar

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    林宜悉 posted on 2020/12/03
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