In the TMT (Technology Media Telecoms) sector, staff shortages are now so acute that all other decisions are driven by the need to recruit and retain staff. Eighty-seven percent of respondents thought the internal design and specification of office space was an important factor. Eighty-three percent of companies listed access to public transport as key to choosing a location. But surprisingly, 53% said proximity to others in their industry was 'unimportant'. The external appearance of the building was the least important factor when choosing a suitable space, with only 37% noting this was important.

Sebastian Cohen, senior researcher at Jones Lang LaSalle says: 'It is clear that the new economy has a defined culture, with an emphasis on innovation and creativity. Property strategies are being used to give employees the support and working environments they demand and as a core tool in staff retention in the war for new talent.'

After staff-related real estate issues, access to high-speed, high-capacity cable networks was the most fundamental real estate requirement: 90% of respondents stressed the importance of Internet communications infrastructure in the building. In addition, almost 80% of the global sample suggested that networks within their locale were also important. Adequate connectivity to the backbone networks and a choice of ISPs/carriers was stressed by many.