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Intelligent Buildings

THE INTELLIGENT SPACE FRAMEWORK:

WHAT’S YOUR BUILDING’S IQ?

ROSS MILLER Swipe Left: Matching in the Built World
Chief Executive Officer Asia Pacific Region Developers first need to determine the level of intelli-
CohnReznick Australia Pty Limited gence each individual property requires. There is no
one-size-fits-all solution, so owners and investors should
VINCENT DERMODY match the underlying technology platform to the require-
Managing Director Asia Pacific Region ments of each development.
CohnReznick Australia Pty Limited
One variable, for example, is that tenants and customers
will have different expectations based on location. They
ONGOING DIGITIZATION HAS SPURRED significant will assume that a premium-grade asset in Sydney’s central
demand for connected buildings around the world, and business district (CBD) has a more advanced level of intel-
Australian developers are rising to the challenge. In ligence than a B-grade asset in the suburbs. A-grade CBD
recent years, the country has become a leading force in buildings attract sophisticated tenants with high expecta-
the development of smart-building complexes. tions of an optimal digital experience. These organizations
typically have a higher adoption of alternative workplace
In large part, that’s because Australian workers expect solutions and co-working spaces, which offer robust tech-
advanced digital services, thanks to the high adoption of nology services that are interactively integrated with tradi-
alternative workplaces such as activity-based working. At tional building systems. Facilities must be smarter
the same time, the highly securitized commercial-prop- to compete.
erty market has resulted in long-term hold strategies that
demand yield performance. Investment managers are It’s also essential to factor in the preferences of tenants who
focused on bottom-line returns, of course, but they also occupy the buildings. Today, digitally adept Millennials are
understand the value of being sustainable. the largest generation in the workforce, and their technology
expectations have become mainstream. Yet, they will soon
However, smart-building projects like those Down Under be eclipsed by even more technically sophisticated Gen
will not guarantee above-par results without first garner- Z workers, who will expect to be better connected, coor-
ing a clear understanding of business requirements and dinated, and orchestrated. Companies competing for the
goals. As market leaders move to embrace smart initia- talent of the future must offer intelligent workspaces that
tives, developers, owners, operators, property managers, meet the preferences of these truly digital natives.
and investors must move to understand the importance
of developing a coordinated strategy across a portfolio Who’s Pushing Tech Further?
of properties to deliver on the experience demanded in A State-of-the-Art Smart Case Study
today’s connected world. One of the recent examples of a smart development is
Barangaroo, a meticulously designed 54-acre complex
The way to most effectively achieve smart building ROI overlooking the Sydney Harbour. The $6 billion urban-re-
is by starting with an Intelligent Space (IS) strategy. newal project is being developed and built by Lendlease,
Intelligent Spaces use technology to realize outcomes and a multinational property developer that is headquartered
drive interactions, not only within the place but also with in Barangaroo. It’s a complex of state-of-the-art smart
the people moving through the space and its purpose. The buildings that include three main commercial towers,
emphasis on people, place, and purpose—the 3P model— three 10-story residential buildings, and several multi-use
is what differentiates intelligence from mere smartness. buildings.

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