Buildings need to meet the needs of occupiers, of course, or they rapidly become redundant. And clearly, says Bob Thompson, head of research at surveyors King Sturge, the assessment of suitability has an implication for value.

In the context of the globalisation of business, the ability to communicate easily and instantly has become crucial. Consequently, telecommunications has become a key determinant of building suitability, Thompson argues.

There is already evidence in the States of a change in occupational demand, with some new buildings being marketed explicitly on the basis of their telecoms infrastructure. Developers in the UK are also beginning to show an interest in the concept of the "connected" building – and not just for office use, but also in industrial, retail and residential sectors.

Thompson finds no hard evidence of value differentials in recent transactions, but it seems only a matter of time before telecoms joins the traditional surveyors’ mantra of location, location, location.

For buildings that remain disconnected in our wired world, he says, redundancy beckons.

Elliott Chase