Finance leaders gear up for life after lockdown

Finance leaders gear up for life after lockdown

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As the impact of the COVID-19 global pandemic becomes apparent, and the vast majority of workers are now remote working, CFOs are working closely with their real estate teams to re-assess workspace costs both now and in the future. More →

A lack of clarity is “shutting down construction”, say builders

A lack of clarity is “shutting down construction”, say builders

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Members of the National Federation of Builders (NFB) have expressed concerns that the lack of clarity from the Government is causing the construction industry to close down. As well as reducing productivity to ensure on site social distancing, reduced access to materials and public opinion has made it extremely difficult for industry to operate. More →

Commercial tenants will be protected from eviction if they cannot pay rent

Commercial tenants will be protected from eviction if they cannot pay rent

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Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction, the government has announced. Many landlords and tenants are already having conversations and reaching voluntary arrangements about rental payments due shortly but the Government says that it recognises businesses struggling with their cashflow due to coronavirus remain worried about eviction. More →

One million young workers set to leave London before turning 33

One million young workers set to leave London before turning 33

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Young workers

The number of young workers leaving London is on the rise, with net migration away from the capital growing, claims new research from Totaljobs and Professor of Economics at Lancaster University, Geraint Johnes. The new research, taken from analysis of ONS data as well as the views of 2,000 Londoners, suggests that since 2014, more than one million professionals have left London, with just 900,000 coming in. This is a net loss of 88 workers every day, with the biggest shortfall down to workers aged 25-34, the majority (54 percent) of them having given up hope of ever owning property in the capital. There has been a 49 percent increase in outbound migration of those in their 30s over the last five years. More →

Commercial property energy use fell by over 3 percent last year

Commercial property energy use fell by over 3 percent last year

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commercial property energy useOperational energy consumption in the UK commercial property sector fell by 3.3 percent during 2018/19 compared to the previous year, according to the latest figures from the “in-use” benchmark published by the UK’s Better Building Partnership (BBP). The Real Estate Environmental Benchmark (REEB) compared operational energy performance between 2017/18 and 2018/19, based on 1,038 UK properties covering 11.7m sqm belonging to 31 of the partnership’s 34 member companies. More →

Tech firms drive explosion in Oxford office costs

Tech firms drive explosion in Oxford office costs

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Office rent in Oxfordshire has shot up an eye-watering 24.3 percent in a year, with Bidwells’ latest research suggesting the need to fast-track new office and laboratory space to fulfil the explosion in demand from growing technology companies. Bidwells recorded more than 1.1 million sq ft of office and laboratory space being sought in Oxfordshire – another all-time high – with just 569,500 sq ft of space available, less than was on offer at the end of 2018. More →

Flexible offices market in Central London continues to thrive

Flexible offices market in Central London continues to thrive

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London flexible officesA new report from Office Freedom claims that Central London is enjoying continued growth in demand for flexible offices, with no sign of slowing. Flexible workspaces have seen a dramatic increase in recent years, with Central London seeing particular interest for flex spaces.  The London’s growing flex appeal report takes a detailed look at Central London flexible workspace trends. More →

R&D sector boosts demand for Cambridge property

R&D sector boosts demand for Cambridge property

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While Brexit uncertainty has dented business investment, on which the research and development (R&D) sector is particularly dependent, new research suggests Cambridge remains a popular destination for knowledge-intensive businesses. According to property consultants Bidwells, the property market in the city proved robust throughout 2019, with take-up moving well ahead of the 10-year average. Knowledge-intensive businesses were responsible for more than 80 percent of the space taken, roughly evenly split between the life science and tech sectors. More →

London office rents to rise due to “Boris bounce”

London office rents to rise due to “Boris bounce”

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London office rentsRents for new, Grade A office space are likely to rise in many parts of London this year, a property consultancy has predicted. According to Carter Jonas, rents for prime located, new, mid-rise, Grade A space above 5,000 sq ft will typically increase by £1.50 – £2.50 per sq ft per annum by the last quarter of 2020 across most of the London office sub-markets. The forecast increases are being underpinned by continued low vacancy rates and unexpectedly strong demand as business confidence increases following the general election. More →

Watchdog raises concerns at councils` commercial property investments

Watchdog raises concerns at councils` commercial property investments

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commercial property risksSome local authorities in England have invested significant public money in buying commercial property over the past three years with the aim of generating a financial return. Debt has increased for many of these authorities as a result, with a small group seeing significant increases in the amount they owe and the cost of repayment, according to the National Audit Office (NAO). More →

End of Brexit uncertainty boosts London commercial property market

End of Brexit uncertainty boosts London commercial property market

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commercial propertyLondon is set for an increase in commercial property investment in 2020 as international investors target the capital’s high-yielding office market, following the decisive 2019 UK General Election result. According to the latest research from Knight Frank, investors have increased the total capital targeting London commercial assets to £48.4bn, a 21 percent rise on 2019 and £2bn higher than 2018. However, with just £2.3bn of buildings for sale, investors will face strong competition, which is expected to drive values higher in 2020. More →

Demand for commercial property in London continues to put upward pressure on rent

Demand for commercial property in London continues to put upward pressure on rent

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London commercial propertyFollowing sustained levels of leasing activity throughout the year, JLL has calculated that over 10.7m sq ft of office space in central London has been transacted so far in 2019 and with over 3m sq ft currently under offer, has suggested that take-up is on track to total 11.6 m sq ft at year-end – which is ahead of the 11.5m sq ft of space that was leased in 2018.  Both the City and West End commercial property markets are expected to see take-up levels broadly echo last year’s totals. More →

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