Take up of office space in West End stays strong, but supply continues to decline

Take up of office space in West End stays strong, but supply continues to decline

Demand for commercial office space in central London has remained above the long-term average, with the amount of space under offer increasing, though the level of supply in the West End has continued to decline, according to the latest figures from Savills. Take-up in April reached 275,473 sq ft across 24 transactions, bringing take-up for the first four months of the year to 1.3m sq ft. The volume of transactions to complete over the month was the lowest for April in five years but overall year-to-date take-up still remained up on the long-term average for this period by 13 percent. (more…)

Coworking trends are influencing design and layout of central London offices

Coworking trends are influencing design and layout of central London offices

Coworking trends are influencing design and layout of central London offices

The rise of coworking and flexible working are affecting the design and layout of central London offices, with many traditional offices being given makeovers to reflect current trends in wellness and connectivity. And according to Cluttons’ Central London Office Market Outlook for Spring 2018, the Central London office market continues to experience a comparatively low vacancy rate – currently standing at 5.9 percent percent well below the 15 year average of just under 8 percent, which is more or less the same following Brexit in mid 2016. In comparison, following the peak of the last cycle at the end of 2007, the overall vacancy rate in Central London moved out from 7 percent to an average of 8.2 percent in the following two years. Landlords have been generally far more responsive to the recent downturn than in previous cycles; not only in relation to rent but also lease flexibility, together with a willingness to cap service charges and dilapidations with older style buildings. Alongside this, the volume of flexible office space in London rose by 20 percent last year as smaller firms move into serviced or managed offices.

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Remote working preferred, with just one in ten workers happiest in an office environment

Remote working preferred, with just one in ten workers happiest in an office environment

Remote working preferred, as just one in ten workers happiest in an office environmentOne in four workers (28 percent) would move jobs if they weren’t allowed to work from home, increasing to nearly half (45 percent) of millennial workers. Yet while two thirds of UK employees (65 percent) can work from home, 35 percent are still not given the option of working remotely. Totaljobs’ research revealed that remote working is in the top five most important benefits when looking for a new job, beating perks such as enhanced parental leave, travel allowances and learning and development. One in five workers would pick a job that offered remote working over one that did not when deciding on a new role. Given the choice, two fifths (38 percent) of the UK workforce prefer working from home, a figure that rises to 46 percent of 18-34-year olds as opposed to just 31 percent of over 55’s, clearly showing the popularity of remote working options to the millennial workforce. The flexibility that remote working offers is most appreciated by women, with a quarter (24 percent) preferring the option of working from home or in the office compared to 16 percent of men.

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Nearly half of workers blame technology issues as top reason for lack of productivity

Nearly half of workers blame technology issues as top reason for lack of productivity

Nearly half of workers blame technology issues as top reason for lack of productivityEight in ten workers use their personal smartphones for work purposes to make their jobs easier as almost half report wasting 10 minutes per hour in their working day due to their employers’ ineffective technology. According to the 2018 Connected Worker survey from Deloitte – just under half (49 percent) of respondents said they waste an average of ten minutes for each hour worked, in a median 35-hour week. Of the reasons given, 44 percent cited issues with technology, such as non-working or lack of devices as the main reason for not being productive at work. Workers compensate for the lack of employer provided technology with their own devices, with eight in ten (81 percent) already using their personal smartphones for work purposes. Over half (54 percent) of the workers feel they have the skills to use more technology at work.

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Office take-up in London at highest point in last 12 months, boosted by pre-let activity

Office take-up in London at highest point in last 12 months, boosted by pre-let activity

Office take-up in London at highest point in last 12 months, driven by pre-let activityCentral London commercial offices under offers are at the highest point in the last 12 months and take-up is ahead of 2017 levels compared with this point last year, new data from CBRE has shown.  Central London office take-up for April 2018 stood at 547,900 sq ft, largely driven by pre-letting activity. Office take-up for the year to the end April 2018 was 4 percent higher than the corresponding period in 2017, standing at 3.4m sq ft. Take-up was boosted by 139,600 sq ft of pre-letting activity. Over the last 12 months, the business services sector has represented the largest proportion of take-up at 32 percent, driven by a large number of deals to flexible office providers. Take-up in April was dominated by the creative industries sector, accounting for 44 percent of take-up. The banking and finance sector (26 percent) and the business services sector (21 percent) also represented notable proportions of take-up in April.

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What exactly is driving the global workplace conversation?

What exactly is driving the global workplace conversation?

There is a growing body of research and understanding on the impact that working environments, workplace habits and culture have on people and broader business performance. The very best workplaces in the world – some of which will be on show at Workplace Week in New York next month – are changing our expectations around the look, function and purpose of office space. These workplaces are designed much like ecosystems – every inch designed with the comfort, wellbeing and productivity of the people who occupy them in mind. The new world of ‘workplace management’ is about designing and delivering multi-faceted, minute-by-minute, multi-sensory experiences that create an emotional response. It is about designing workplace experiences to deliver a specific mission. It encompasses thinking about journeys and destinations, the fusion of space, information, and services – and how these reflect organisational personality, support human effectiveness, and lure in talent. But, as those in the industry will be all too aware, this hasn’t always been the case. So, what’s to thank for this fresh approach to workplace design and management?

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Seven stories to get your week off to a flying start

Seven stories to get your week off to a flying start

Why great employees leave great cultures

Are flexible short term leases the new future?

Four mega-trends for the future of work

The revolution will not be transactionalised

Bjarke Ingels joins WeWork as Chief Architect

The road to automation, the joy of work, and the ‘Jen problem’

How Soho House transformed BBC Television Centre (registration required)

UK office workers spend limited time outside and over half complain of lack of fresh air

UK office workers spend limited time outside and over half complain of lack of fresh air

UK office workers spend limited time outside and over half complain of lack of fresh airUK office workers spend an alarmingly limited amount of time outdoors each day, claims new research from Ambius, which found that almost 40 percent spend a maximum of just 15 minutes outside, excluding their commute to work, and an additional 22 percent spend a maximum of 30 minutes outside. This is even less than prisoners, who require ‘at least one hour of suitable exercise in the open air daily’, according to UN guidelines. On average, the British workers surveyed spend more time per day at their desk or workstation (6.8 hours) than they do in bed (6.4 hours), relaxing at home (3.5 hours) or outdoors (37 mins). A lack of fresh air (57 percent), insufficient natural light (49 percent), and an absence of indoor plants (36 percent) were the biggest source of frustration for employees. Introducing indoor plants (49 percent), nicer artwork (50 percent), and a more interesting colour scheme (54 percent), topped the list of employees’ requests to improve their workplace.

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New framework aims to ensure facilities managers have the expertise to keep up with demand for services

New framework aims to ensure facilities managers have the expertise to keep up with demand for services

The Royal Institute of Chartered Surveyors (RICS) and the International Facility Management Association (IFMA)  have created a new framework which sets out to provide strategic best practice advice and outline how facilities managers can make the most of their expertise to keep-up with the growing demand for FM services. The Strategic Facility Management (FM) Framework authored by Dave Wilson, FRICS, IFMA Fellow for the IFMA-RICS collaboration – sets out a more ‘holistic approach’ to planning the provision of FM, with best practice advice on how to achieve maximum value from a workplace, including gaining environmental benefits, improving productivity, whilst also protecting employees and consumers. The framework also sets out some of the key aspects of how and where facility managers can play a bigger, more valuable role in the corporate real estate decision-making process, including property acquisition and disposal.

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Optimal workplace productivity gains could add £39.8 billion to British and Irish economies

Optimal workplace productivity gains could add £39.8 billion to British and Irish economies

The United Kingdom could reshape its economic future and unlock its share of £39.8 billion in untapped GDP if organisations were to ‘optimise their workplaces’, according to a new study by Ricoh and Oxford Economics, titled The Economy of People (registration required). The UK could achieve a 1.8 percent increase in GDP, equal to £36.8 billion, which could pay for the cost of Brexit twice with change to spare. Similarly, the Irish economy could expand by 1.0 percent, or £3 billion, if businesses commit to creating the optimal office. The findings from The Economy of People are based on forecasts of how productivity in various industries will improve, if investment in workplaces makes them optimal for those that work there and their employers. Surveys and interviews were conducted with employees and executives to uncover how workplace elements, such as culture, physical workspace and technology affect performance and productivity.

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Over half of employers expect to spend less time in traditional office space

Over half of employers expect to spend less time in traditional office space

Over half of employers expect to spend less time in traditional office spaceUsers of co-working and flexible space rapidly growing in numbers, according to a report, Marketplace for flexible work, from research conducted by (flexible workspace provider) The Instant Group and architects HLW. The report claims to ‘analyse’ the coworking and flexible workspace sector to gather a ‘360-degree perspective’ of the industry to determine where ‘perspectives align and diverge among stakeholders’.  The research also claims that location and the ability to assign or reassign employees to workspace on short notice were also important influencers when choosing flexible workspace over conventional office space. Looking forward, the research claims that more than half of the companies interviewed envisage spending less time working from a traditional company office space.

Nearly quarter of employers not providing basic tech tools for digital and flexible working

Nearly quarter of employers not providing basic tech tools for digital and flexible working

Nearly quarter of employers not providing basic tech tools for digital and flexible workingOrganisations are failing to get the basics right when it comes to providing the digital and virtual systems that support employees in their roles, despite an evolving technological landscape and rise in flexible working, a new report has claimed. Data released by Leesman analyses how organisations can better support employees by offering the technology tools and infrastructure that enable people to work in a flexible way. In Deloitte’s 2018 Tech Trends report issued at the beginning of 2018, there was a heightened focus on how disruptive technologies will help businesses achieve larger strategic and operational goals and drive greater value. It predicted that within the next two years, more companies will embrace the emerging ‘no-collar workforce’ trend by redesigning jobs and reimagining how work gets done in a hybrid human-and-machine environment. However, Leesman’s findings show that, as of yet, organisations are failing to get the digital basics right. According to its latest dataset (Q1 2018) 23 percent do not agree that they have the technology tools and infrastructure that enable them to work in different locations across the office or from different locations outside of the office.

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