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New firms … old assets: Using Delphi technique to identify accommodation priorities for knowledge-intensive firms
Journal article   Peer reviewed

New firms … old assets: Using Delphi technique to identify accommodation priorities for knowledge-intensive firms

Michael Hefferan and Pamela Wardner
Journal of Corporate Real Estate, Vol.14(4), pp.202-213
2012
DOI: https://doi.org/10.1108/JCRE-04-2013-0012
url
https://doi.org/10.1108/JCRE-04-2013-0012View
Published Version

Abstract

Australia commercial property commercial property assets Delphi method demanding priorities knowledge organisations knowledge-intensive firms real estate
Purpose - The 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/approach - This 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. Findings - The 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 implications - Many 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/value - The 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.

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