Hybrid working businesses say they are more optimistic about their future profitability

Hybrid working businesses say they are more optimistic about their future profitability

by • Flexible working, News, Property

A new poll from flexible office provider International Workplace Group (IWG) claims that businesses operating with a hybrid working model are significantly more optimistic about growthA new poll from flexible office provider International Workplace Group (IWG) claims that businesses operating with a hybrid working model are significantly more optimistic about growth in the year ahead than those which do not offer employees flexibility about where they work. This follows a spate of so-called return-to-office-mandates from major corporates including Amazon and WPP. A study of more than 500 CEOs and senior business leaders by  found that 69 percent of businesses offering hybrid working had a positive outlook for 2025 compared to 44 percent of non-hybrid companies. More →

Demand for high quality office space continues to grow worldwide, and so do its costs

Demand for high quality office space continues to grow worldwide, and so do its costs

by • News, Property, Workplace design

Rents for prime office space across the globe rose by 0.3 percent and fit out costs by 0.2 percent in the final quarter of 2024, says SavillsRents for prime office space across the globe rose by 0.3 percent and fit out costs by 0.2 percent in the final quarter of 2024, says Savills, as demand for top quality office space continues to grow in many markets around the world. According to Savills in its latest quarterly Prime Office Costs report, in the fourth quarter of last year, average net effective costs rose slightly, by 0.1 percent, continuing a moderate upwards trend of 1.9 percent over 2024. London (West End), Hong Kong, and New York (Midtown) remain the top three locations in terms of costs of the 35 markets Savills examines. More →

Take up of flexible office space hits highest levels since 2019

Take up of flexible office space hits highest levels since 2019

by • News, Property

Research from Savills and its specialist firm Workthere claims that take-up of flexible office space from operators across the UK reached just over 1.06 million sq ft in 2024, which is the highest level since 2019Research from Savills and its specialist firm Workthere claims that take-up of flexible office space from operators across the UK reached just over 1.06 million sq ft in 2024, which is the highest level since 2019 and 12 percent above the total reached in 2023. In line with this growth, Workthere suggests that transaction levels were also up 35 percent, despite a moderate drop in enquiries by 12 percent from a 2023 peak (based on a 2022 index).  There were also positive signs in the make up of demand with Workthere reporting a 7 percent increase in the number of businesses entering a new market and a 33 percent increase from businesses outgoing their current space. More →

Demand for commercial property investment jumped in last quarter

Demand for commercial property investment jumped in last quarter

by • News, Property

There has been a significant surge in demand for commercial property investment, reflecting a marked recovery in the sectorThere has been a significant surge in demand for commercial property investment, reflecting a marked recovery in the sector, according to a new report from Rightmove. The platform attributes this rise to recent interest rate reductions by the Bank of England, which have made investment opportunities more affordable and appealing. Rightmove’s Quarterly Commercial Insights Tracker, which monitors supply and demand trends among the UK’s largest commercial property audience, revealed that overall demand for commercial property investment increased by 28 percent year-on-year in the final quarter of 2024. The office market also witnessed a notable increase, with demand for office space investment climbing by 57 percent year-on-year. More →

Lack of space continues to hold back a ‘return to office’

Lack of space continues to hold back a ‘return to office’

by • News, Property, Workplace design

Workers are resisting the so-called return to office due to a lack of desk space, following widespread reductions by companies in the wake of CovidWorkers are resisting the so-called return to office due to a lack of desk space, following widespread reductions by companies in the wake of Covid. A fifth of workers cited a shortage of desks and facilities among their top three reasons for avoiding the office, according to a survey by real estate consultancy Remit Consulting. The firm claims that businesses may have scaled back desk numbers too aggressively after the pandemic spurred a rise in home working. More →

London office market showing unmistakeable signs of life, especially for Grade A space

London office market showing unmistakeable signs of life, especially for Grade A space

by • News, Property

The London office market is demonstrating strong signs of recovery, with declining vacancy rates and robust demand for high-quality spaces.The London office market is demonstrating strong signs of recovery, with declining vacancy rates and robust demand for high-quality spaces. Both occupier and investor activity surged in the third quarter of 2024, reflecting renewed confidence in the capital’s commercial real estate sector. Despite challenges posed by elevated supply levels, the market’s recovery trajectory points to a potential upswing in rents and investment activity heading into 2025, driven by stabilising vacancy rates and continued demand for Grade A office space. More →

That conversation about hybrid working? Same as it ever was

That conversation about hybrid working? Same as it ever was

by • Comment, Facilities management, Flexible working, Property

The term hybrid working may only have been in widespread use for a few years, but the ideas behind it stretch back decadesRecently I wrote a short article based on a 1993 Architects’ Journal interview with IBM’s then design manager of property, Peter Wingrave. It reminded me how discussions about new ways of working – now including that neologism hybrid working – have been a constant throughout my career. In that interview, Wingrave is quoted as saying: “I think there are interesting times ahead for offices. We are already seeing the slow breakdown of the traditional office which people come to in the morning and leave at night…We would like our offices to catch the social spirit of an old gentleman’s club; you just pop in when you need to. You get more out of people that way… we’re lucky if our marketing areas are ever 40 per cent occupied … It’s crazy to build, run, heat, light and decorate a building as if people were there when 60 per cent of the time you know they are not”. More →

Economic and political uncertainty continue to dampen commercial property market sentiment

Economic and political uncertainty continue to dampen commercial property market sentiment

by • News, Property

The outlook for the European commercial property market is cautiously optimistic despite growing geopolitical uncertainty and concerns about economic growthThe outlook for the European commercial property market is cautiously optimistic despite growing geopolitical uncertainty and concerns about economic growth, with London, Madrid and Paris emerging as the standout performers, according to a new report by PwC and the Urban Land Institute (ULI). The report – Emerging Trends in Real Estate Europe 2025 outlines how market players believe ‘a new normal’ is emerging as valuations have come down and interest rates regain some level of predictability in a market characterised by higher inflation and interest rates, and geopolitical and economic uncertainties. This led to more than 80 percent of survey respondents expecting business confidence and profits to stay the same or rise in 2025, with around half predicting increases in both. More →

How commercial property owners can boost revenues and occupancy in light of the Autumn Budget

How commercial property owners can boost revenues and occupancy in light of the Autumn Budget

by • Comment, Facilities management, Property, Workplace design

The Autumn Budget is anticipated to introduce a series of tax increases that could directly impact commercial property ownersThe Autumn Budget is anticipated to introduce a series of tax increases that could directly impact commercial property owners, including changes to capital gains tax (CGT), national insurance contributions, and business rates. These changes could have a ripple effect across the property market, influencing both investment decisions and tenant demand. These are the key areas of concern for commercial property owners. More →

The rise of the part time office opens up a new frontier for market growth

The rise of the part time office opens up a new frontier for market growth

by • Comment, Flexible working, Property

The part-time office offers companies the ability to rent office spaces on a part-time basis, writes David RawlenceAs businesses, large and small, continue to adapt to post-pandemic realities, the demand for flexible working solutions continues to surge. The part-time office offers companies the ability to rent office spaces on a part-time basis—often for just one to three days a week— whilst opening a unique opportunity for occupiers, landlords, operators, and investors. More →

If firms want people to ‘return to office’, they should offer a better experience

If firms want people to ‘return to office’, they should offer a better experience

by • Flexible working, News, Property

A new report from the British Council for Offices (BCO) argues that if employers want their staff to 'return to office', they need to approach the workplace in the same way they would their customers by creating spaces that offer experiences workers actively seek outA new report from the British Council for Offices (BCO) argues that if employers want their staff to ‘return to office’, they need to approach the workplace in the same way they would their customers by creating spaces that offer experiences workers actively seek out. The report, titled Towards Experience Utopia, claims to serve as a comprehensive guide for creating optimal working environments that integrate the best aspects of both remote and in-office work. Commissioned by the BCO Occupiers Group, which includes major employers like NatWest, PwC, Deloitte, and Goldman Sachs, the report highlights how the shift towards hybrid working has transformed the expectations of employees. More →

Want sustainable buildings? Invest strategically in smart technology

Want sustainable buildings? Invest strategically in smart technology

by • Environment, News, Property

Strategic investment, innovative technology, and collaboration are essential for achieving sustainable buildingsStrategic investment, innovative technology, and collaboration are essential for achieving sustainability and value goals in the real estate sector, according to a new report from Colliers. The  report Realising ESG Performance: The Value-Driven Transformation of Europe’s Built Environment [registration] claims to provide insights into how the real estate industry can embrace sustainable buildings and comply with regulatory demands while creating long-term value. More →

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