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 →

Commercial property market will be shaped by climate change in 2020

Commercial property market will be shaped by climate change in 2020

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commercial propertyThe world’s commercial property markets will be defined this year by low interest rates, socially responsible investing, cautious optimism and climate change as well as six other factors according to Avison Young’s 2020 Forecast. The annual report series claims to provide perspective on how global events, trends and indicators impact commercial real estate in a variety of sectors, including capital markets, office, retail, industrial, multi-family and hospitality, among others.

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BT to relocate up to 4,000 people to new Birmingham headquarters

BT to relocate up to 4,000 people to new Birmingham headquarters

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BT BirminghamBT Group has announced Birmingham’s Three Snowhill development will be its primary new home in the city and provide “a future-fit workplace for thousands of colleagues”. The building, in the city’s business district, will become the regional headquarters for BT with between 3,000 – 4,000 people set to be based there eventually – more than five times the number of people currently based in Birmingham. BT will occupy the majority of floors in the 17-storey development, marking a major investment by the company in the city. More →

L`Oréal moves London HQ to White City Place

L`Oréal moves London HQ to White City Place

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L'Oreal White CityL’Oréal UK and Ireland has announced that it will be moving from its current office site in Hammersmith to a brand new bespoke building in White City Place, West London, W12. L’Oréal will occupy six floors of the eleven storey building, which is part of the new creative business district White City Place, developed and owned by Stanhope, Mitsui Fudosan and AIMCo. Other occupiers at White City Place include the fashion designers Ralph & Russo, online luxury fashion retailer Yoox-Net-a-Porter, the BBC and ITV Studios. The workforce of 1,000 employees at L’Oréal’s London-based headquarters are due to move in Autumn 2023 to the new building, which is when the company will reach the end of its current lease. Stanhope claims that the space will reflect L’Oréal’s culture, focused on collaboration, creativity and agility. More →

The truth about all those workplace trends lists

The truth about all those workplace trends lists

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You would not believe the number of firms that ask us to publish a list of workplace trends each week. Or maybe you would, given the number that have appeared elsewhere. Each firm perhaps convinced they are saying something original, unique or interesting, or maybe simply convinced they stand out in some way, while pushing the same timid, stale narratives about the workplace. It goes without saying that the commercialised messages often do little to shine a light on complex realities. In the words of the Scottish poet and anthropologist Andrew Lang, they use information ‘like a drunk uses lamp-posts—for support rather than illumination’.

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RICS report calls on organisations to adopt more responsible policies

RICS report calls on organisations to adopt more responsible policies

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The Royal Institution of Chartered Surveyors (RICS) has launched a new ‘Responsible Business Report with recommendations for real estate firms to develop and implement responsible business practices, to improve their business culture, reduce their environmental impact and attract and retain the brightest talent. Best practice case studies from leading companies such as CBRE, Sodexo, John Lewis and Vinci Facilities are included in the report. More →

Channel 4 confirms move to landmark Leeds building

Channel 4 confirms move to landmark Leeds building

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One of the UK’s leading broadcasters has confirmed its deal with the Rushbond Group for its new national headquarters to be at The Majestic in Leeds city centre. The third, fourth and fifth floors of the building will become home to Channel 4, with teams from across the organisation coming together to operate out of the iconic building. The deal with Channel 4 leaves four floors remaining, from 8,000 sq ft to a total of 39,000 sq ft of workspace to be let to additional dynamic organisations. More →

Knight Frank and Work.Life launch flexible office platform

Knight Frank and Work.Life launch flexible office platform

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flexible officeKnight Frank is the latest established property business to launch a flexible office offering. In partnership with flexible office provider Work.Life announce the launch of new flexible managed workspace solution, Yours. A joint venture between Knight Frank and Work.LifeYours claims to “partner with landlords to provide a comprehensive offer, incorporating a sales strategy that addresses both flexible and traditional market demand. The platform streamlines the design and delivery of resalable workspaces, and offers a suite of ongoing services and extras to businesses, including access to Work.Life’s network of coworking spaces and amenities.” More →

Planning permission granted for new 13 storey London offices

Planning permission granted for new 13 storey London offices

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Planning permissionPlanning permission has been granted for a new 13-storey riverside office building at the Embassy Gardens development on London’s South Bank. Named EG:HQ, the development will provide 217,000 sq. ft. of flexible space in zone 1 Nine Elms, in addition to 18,000 sq. ft. of outdoor amenity space which will include a 9,000 sq. ft. communal terrace and several private open-air terraces. More →

New London office building hits five year low

New London office building hits five year low

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London office buildingsAlthough occupier demand remains high, the construction of new offices breaking ground in London over the last six months is down by nearly a half (49 percent) – the lowest level of new starts for five years, according to the London Office Crane Survey by Deloitte Real Estate. In the last six months, only 24 new schemes (1.8 million sq ft) commenced construction compared to 37 schemes (3.5 million sq ft) in the previous survey of London office building. More →

Migration of flexible offices to contribute £12 billion to local economies

Migration of flexible offices to contribute £12 billion to local economies

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flexible offices in BirminghamThe increasing migration of flexible offices to the outskirts of major UK cities is creating a ‘flex economy’ that could contribute more than £12 billion to local economies in the next decade. That’s according to the first comprehensive socio-economic study of second-city and suburban workspaces. The analysis, conducted by economists on behalf of Regus, claims that as Brexit uncertainty continues to impact the economic landscape, individual flexible workspaces in suburban areas could be a welcome lifeline for local economies.

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Next generation of property talent celebrated at BCO NextGen Awards

Next generation of property talent celebrated at BCO NextGen Awards

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BCO NextGen AwardsThe UK’s rising stars in the commercial property sector have been recognised at the British Council for Offices’ (BCO) fourth annual NextGen Awards ceremony. The Awards are part of the BCO’s NextGen programme, which sets out to mentor and encourage the next generation of professionals to become future leaders in the industry, whilst providing a platform for new talent to share ideas. The ceremony, which took place at The Porter Tun, London, was attended by the country’s top designers, developers, architects and occupiers under the age of 35. It celebrated the achievements and successes of young professionals in the commercial property sector across the UK, and the leaders who have inspired them. More →

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