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 →

UK’s best workplaces honoured at BCO Awards. And the winner isn’t an office

UK’s best workplaces honoured at BCO Awards. And the winner isn’t an office

by • Company news, News, Property, Workplace design

The BCO has announced what it says is a list of the UK's best workplaces this year, with eight projects receiving accolades at its National AwardsThe British Council for Offices (BCO) has announced what it says are the UK’s most exceptional workplaces this year, with eight projects receiving accolades at its National Awards. The TTP Campus, a life sciences facility in Cambridgeshire, was the standout winner, claiming both the Best of the Best and Corporate Workplace awards. The awards, held at the JW Marriott Grosvenor House in London, celebrate excellence in office design, operation, sustainability, and community engagement. The event, attended by over 1,200 industry leaders and featuring guest speaker Clare Balding, highlighted the best workplaces that inspire creativity and positively impact local communities. More →

Accessible and inclusive design should be a priority for the property market

Accessible and inclusive design should be a priority for the property market

by • News, Property, Workplace design

The joint report, Inclusive Spaces and Places: A collaborative approach to inclusive design, highlights the urgent need for inclusive design in the built environmentGrosvenor and The Crown Estate have launched a new report that aims to shed light on the challenges faced by people with physical and hidden disabilities when accessing and working within buildings and public spaces across the UK. The joint report, Inclusive Spaces and Places: A collaborative approach to inclusive design, highlights the urgent need for inclusive design in the built environment, emphasising the barriers that prevent millions from fully engaging with public and commercial spaces as well as the potential societal and economic losses this results in. More →

You get what you give at the CoreNet Global Summit 2024 in Berlin

You get what you give at the CoreNet Global Summit 2024 in Berlin

by • Comment, Facilities management, Property, Wellbeing

CoreNet truly embraced its theme of ‘People Power’, emphasising the vital but often overlooked aspect of workplace strategy: connectionHave you ever attended a conference and been asked to gaze deeply into a stranger’s eyes for several minutes, standing just a metre apart in silence? No? Neither have I – until this September at the CoreNet Global Summit in Berlin. Gone are the days of handshakes and small talk. Today, it’s all about relationality, empathy, and hugging it out. For some, the summit’s emphasis on fostering human connections was a joyful opportunity to bond and share meaningful moments with fellow professionals. For others, it felt like being trapped in a never-ending therapy session nobody signed up for. More →

Commercial property market should be more optimistic, but it still needs to change

Commercial property market should be more optimistic, but it still needs to change

by • News, Property

JLL’s latest Future of Work Survey claims to reveal new opportunities for the commercial property sector as two-thirds of business leaders expect their CRE budget to riseJLL’s latest Future of Work Survey claims to reveal new opportunities for the commercial property sector as two-thirds of business leaders expect their CRE budget to rise between now and 2030. Despite challenges in the commercial real estate sector and bumpy economic conditions, global business leaders are optimistic about the future, with two-thirds (65 percent) expecting their CRE budgets to increase by 2030, according to the poll. This survey sets out to explore the evolving nature of work, assessing the key priorities, challenges, and strategies for more than 2,300 business and CRE decision-makers. More →

US law firms make up two thirds of global law firm office leasing activity

US law firms make up two thirds of global law firm office leasing activity

by • News, Property

Together, US cities accounted for 69 percent of overall H1 law firm office leasing activity in the world’s largest legal marketsNew York accounted for a third of all leasing activity globally in the legal sector in the first half of 2024, says Savills, equating to over 1.4 million sq ft of space, out of a total of 4.3 million sq ft across the world’s 15 largest legal markets, reflecting its position as the world’s principal legal hub. Together, US cities accounted for 69 percent of overall H1 law firm office leasing activity in the world’s largest legal markets, reflecting the dominance of American firms in the sector overall, as well as the tendency for US legal offices to have a lower occupancy density and thereby requiring more space, according to Savills. More →

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