Location is the most important to a corporate occupier when selecting new premises. Location factors such as access to public transportation, proximity to existing customers, and access to amenities are all important considerations. Price, quality and sustainability are also important considerations, but location is the primary factor when selecting new premises.

Not my words, but those of OpenAI's API Playground (ChatGPT was busy), when asked the same question as my recent LinkedIn poll: Which is the most important to a corporate occupier when selecting new premises: location; price; quality; sustainability?

So there you have it, the compulsory reference to AI out of the way. But was it right?

Unlike some of the respondents to my poll, the AI software was willing to accept the premise that one factor can be more important than the others. Simon Cunliffe objected: "There isn’t a one size fits all answer" - sage words, but not compatible with a public vote. 

And unlike all of my respondents, the AI wasn't able to think about the answer. As a large language model, the software seeks to create an answer based on reviewing large amounts of data. But what data? That is unknown and I do worry that it was mining Channel 4's back catalogue of Location Location Location. 

Perhaps this is no different to any opinion, but how did it compare to the opinions of my network of high calibre real estate experts? 

The results:

By a significant margin 'location' was the top answer. While of course, there isn't a one size fits all answer, it is telling that location scored so highly. Occupiers should be mindful that wherever location sits on their list of priorities, they will need to plan their relocation as far in advance as possible. With supply remaining scarce it is advisable to start your search at least two years out, to give you the best chance of finding appropriate space. 

I'll give the last word to a dissenting voice, Glenn Dunn, Head of Occupier services at Forsters:

"Of course location is important, I know from Forsters’ own relocation project. We were keen to challenge ourselves and looked at options across central London, before settling on Marylebone. Whilst it is possible to get the location wrong (eg poor public transport links), I think it is fair to say – with a few notable sector specific exceptions – it is rare that only one location can work. Ultimately though, it is quality that underpins the occupier experience, even more so since the pandemic. Quality of building, quality of fit out, quality of staff amenities, even the quality of the coffee. A strong business can make many different locations work, but no-one wants to come to an office where the air con doesn't work or the environment is dull and uninspiring."

Sorry Glenn, nice try, but you can't argue with democracy - although it does make you wonder if I just know a lot of people who enjoy Kirsty and Phil's TV adventures. For full disclosure, I'm a Homes Under the Hammer man myself.