March 16, 2015

Edinburgh and Manchester top UK’s regional commercial property markets

by Mark Eltringham • Company news, News, Property

With 2015 set to be a ‘stellar year’ for regional city growth, commercial property adviser GVA has compiled key statistics on Grade A office markets for the top nine UK cities. Manchester and Edinburgh topped the charts in terms of Grade A take-up in 2014, on 401,406 sq ft and 333,351 sq ft respectively, while Newcastle was at the bottom on 64,000 sq ft, just behind Liverpool on 67,199 sq ft. Edinburgh and Glasgow led the way in terms of immediately available space and Edinburgh also saw the largest leasing transaction in 2014 with the 108,564sqft deal signed by Standard Life Investment. Manchester (614,000) and Leeds (487,650 sq ft) top the heap in terms of Grade A space under construction. Meanwhile Manchester and Birmingham top the prime rent pile at £32 and £30 per sq ft for prime Grade A space respectively.

February 18, 2015

£16.5m deal for office development at Moorgate Crossrail station confirmed

by Sara Bean • Cities, Company news, News, Property

Land Securities has confirmed it has bought the leasehold to the 1.9 acre site located at the western entrance to the Liverpool Street Crossrail station for £16.5 million. Plans for the site, at 21 Moorfields, EC2, which currently comprises vacated 1970s offices and a Transport for London (TfL) worksite, include two new buildings totalling approximately 500,000 sq ft of predominantly office space, with some retail at ground level and a public realm. The two proposed buildings will provide direct access to the underground and the new Moorgate Crossrail station below – due for completion in 2018. Land Securities entered into a conditional agreement to acquire the site in December 2012 and has since negotiated to own the site on two separate 250 year leases, with TfL having the option of participating in the development.

February 5, 2015

Buoyant demand for commercial property across Europe, claims report

by Mark Eltringham • Company news, News, Property

Europe’s commercial property market ‘sizzled’ during 2014, according to a new report by Real Capital Analytics (RCA). Europe saw 213.1 billion euros of commercial real estate transactions in 2014, a rise of 13 percent over 2013. Paris led France to a 31 percent rise, although the French capital accounted for three quarters of demand. In contrast, demand in London fell 3 percent as high prices led investors to British regional markets, with the UK market overall up 16 percent. A similar trend emerged in Germany, where volumes in Berlin, Munich and Hamburg fell, while markets in the Ruhr, Cologne and Stuttgart strengthened. Most improved were commercial property markets in Ireland and Spain, where investment volumes soared 89 percent and 134 percent respectively.

January 27, 2015

Adobe completes refurbishment of central London offices

by Mark Eltringham • Company news, Workplace design

Adobe has completed a refurbishment of the reception of its central London offices. The project includes new stone-clad walls and floor coverings to give the space an industrial feel by complementing the existing concrete floors and exposed internal pillars. Similarly, new carpet was specified in a ‘distressed’ finish. Bespoke elements of the design include the specially made reception desk and graphical manifestations on walls and meeting room partitions that range from the corporate to the abstract. “Adobe is the world’s biggest digital marketing company in an industry that is serious and creative, and we wanted our new reception to reflect this.” said Mike Walley, EMEA site operations manager for Adobe. The lighting in particular has transformed the space.” The project was carried out by K2 Space.

January 20, 2015

New Hammersmith mixed-use scheme to accommodate 2,000 workers

by Sara Bean • Company news, Facilities management, News, Property

Legal & General has appointed Land Lease Property to develop a £75 million mixed-use scheme on London’s Hammersmith Road. The development, designed by Sheppard Robson, will feature 242,000 sq ft of Grade-A office space over 10-storeys, which can house up to 2,000 workers. The office space has been designed to maximise natural daylight and features outdoor roof terraces. The entire 350,000 sq ft site retail frontage will be stepped back from Hammersmith Road, with a new landscaped plaza at the front that leads through to a podium garden. A business lounge and café will form part of the retail element, which totals 13,000 sq ft, to help enhance the public areas and encourage social interaction for workers. Construction is set to start in early January 2015 with completion expected in summer 2017.

December 5, 2014

Bouygues wins £27 million office fit out contract in City of London

by Mark Eltringham • Company news, News, Property, Workplace design

Bouygues UK has been awarded a major new design and build contract by developers Morgan Capital Partners LLP. The award comes hot on the heels of the handover of another major office refurbishment at 71 Queen Victoria Street, which is a stone’s throw away from the new site at 45 Cannon Street, in the heart of London’s financial district. The deal will see the demolition of existing offices and the construction of a new eight-floor office building including a Category A office fit out and the addition of 13,000sqm of retail space on the ground floor. As part of the works, the entrance to Mansion House underground station will also be refurbished as it sits on the site. Bouygues UK is aiming for a BREEAM Excellent rating on the project. Demolition is already being carried out on site, with Bouygues scheduled to begin construction work in the New Year. The project is due for completion in 2016.

December 3, 2014

Fresh completes a new installation for Teleperformance in Gateshead

by Mark Eltringham • Company news, Facilities management, Workplace design

Interior design and fit-out firm Fresh Workspace has completed a 30,000 sq ft turnkey project at Baltic Place Gateshead for Teleperformance, the world’s largest contact centre and outsourced customer service providers. Teleperformance, which also occupies several sites in The Watermark Gateshead, commissioned Fresh to carry out the fit-out of three floors of the landmark Baltic Quays building on South Shore Road. The project was completed within a 12 week programme of work with a fixed end-date. Works incorporated a range of mechanical and electrical alterations and additions including the provision of a stand-by generator, cooling and fresh air. The full fit-out comprised the specification and installation of partitions, doors, power and data cabling, new furniture, flooring, feature lighting and security systems.

December 2, 2014

Iconic office chair designer to open its first UK office in Clerkenwell

by Sara Bean • Company news, Furniture, News, Workplace design

The furniture design company behind the iconic 40/4 chair [pictured] is to open its first UK HQ in London’s Clerkenwell district. HOWE, which specialises in contract, bespoke furniture design, will rent the 2,640 sq ft ground and lower ground unit at 82 Clerkenwell Road, London EC1, on a 10 year lease. Lars Bruntse, marketing manager at HOWE, commented: “HOWE develops, produces and sells dynamic design furniture solutions worldwide. London is a centre for global accounts and the UK is an extremely important market for us, so it is the right time to establish ourselves here.” Richard Reid, from Clutton’s commercial agency team said: “Clerkenwell is one of the most important design hubs in the world and we were delighted to be instructed by HOWE, designer of the iconic 40/4 chair, to find them new premises in this popular area. 82 Clerkenwell Road, with its period features, high volume space and prominent location met the requirement perfectly.”

November 27, 2014

Fold7 drops in to its new Mary Poppins inspired Farringdon offices

by Mark Eltringham • Case studies, Company news, News, Workplace design

Fold7 has moved into new offices in Farringdon to house the expanding agency business and talent. The agency, which counts Go Compare, Gumtree, Ted Baker, Nike and Orange as its clients, has unveiled its news offices designed by Paul Crofts Studio with a Mary Poppins-inspired installation of people floating away on umbrellas and two ‘dry’ jacuzzis. On the upper level, the agency has dedicated an entire floor to an informal working area, more akin to a restaurant and bar. A wall of curiosities screens the meeting room wall, with each individual item representing a story from our history and our experiences. A mid floor raised platform with two ‘dry Jacuzzis’ provides additional break out spaces. The ‘formal’ boardroom at the Farringdon offices is fitted with a collection of cuckoo clocks to serve as a reminder that ‘it’s not the time that matters, but what you do with it that counts’ according to Fold 7 founder Ryan Newey.

November 27, 2014

Regus opens first dedicated drop-in office on the M6 motorway

by Sara Bean • Company news, Facilities management, Flexible working, News

A new dedicated drop-in office has been opened by Regus at Sandbach South motorway service area on the M6 motorway this week. With previous research commissioned by the serviced workspace provider revealing that two fifths of mobile workers had dialled into conference calls whilst driving; dedicated workplaces at motorway service areas are intended to help combat the problem by offering a convenient place to stop off and work, for a few minutes or a few hours. The new drop-in offices will be followed by further Regus Express launches before Christmas at Strensham North (M5), Watford Gap (M1), Chester (M56) and Norton Canes (M6 Toll). The facilities will each feature a drop-in business lounge and high-specification meeting rooms available by the hour and are aimed at attracting those wanting to hold out-of-town meetings and self-employed people seeking an occasional alternative to the home office.

November 27, 2014

DeVere Group completes fit-out of new office in Etihad Towers, Abu Dhabi

by Mark Eltringham • Company news, News, Workplace design

The Interiors Group have completed a shell and core fit-out at the new offices of financial consultancy PIC deVere Group on a floor at Tower 3 of Etihad Towers, Abu Dhabi. The new office was designed to have a similar look, feel and functionality to the firm’s Dubai office and to anticipate the firm’s expansion. The brief included the provision of as many large team rooms as possible, so that each room could accommodate approximately thirty members of staff. The fit-out also incorporates a separate training room as well as print and breakout areas. Corporate colours were incorporated in this area with furniture and fittings largely in white and deVere blue introduced as the chosen finish for the Interface ‘Swing’ carpet and accent paint on elements of the interior architecture including columns and the glass and stone feature wall behind the reception desk.

November 20, 2014

Land Securities takes full control of Thomas More Square for £85.3m

by Sara Bean • Company news, Facilities management, News, Property

Land Securities has taken full control of Thomas More Square, in London’s E1 for £85.3 million. It acquired the 50 per cent share it doesn’t already own from an affiliate of its joint venture partner the Ontario Teachers’ Pension Plan Board. The Thomas More Square Estate, which is located between St Katharine Docks and London Dock – totals approximately 4.2 acres and includes six office buildings incorporating retail, leisure and parking. Land Securities was granted planning permission in June 2014 for a comprehensive refurbishment of Building 3 at Thomas More Square and a redesign of the estate’s public realm. The plans for the 570,000 sq ft estate include 200,000 sq ft of fully refurbished office and retail space in Building 3 which will include a new double height entrance and an extensive business lounge. Tenants Ipsos MORI and Mitsui O.S.K. Lines (“MOL”) have already let 97,000 sq ft of Building 3 on 15 year leases with 10 year breaks; while a further 100,000 sq ft will be available from mid-2015. More →