Take up of office space in Central London at highest level in six years

by • Facilities management, News, Property

Take-up of office space in Central London highest level in 6 years

Take-up of office space in Central London was almost 11m sq ft in 2013, way above the 2012 figure of 7.3m sq ft and an increase of more than 50 per cent year-on-year. According to the latest figures from Cushman & Wakefield, leasing activity to December increased across all Central London markets, with transaction volumes 22 per cent above the five-year average. It says that the number of transactions over 50,000 sq ft was a major driver of leasing volumes, with 30 deals signed during 2013 – the highest number since 2007. The Media and Technology sector saw most activity across Central London, accounting for 36 per cent of all letting volumes in 2013, up from 23 per cent in the preceding two years.   (more…)

Team announced to review restoration needs of UNESCO World heritage site

by • Facilities management, News, Property, Public Sector

Palace of WestminsterThe House of Commons and House of Lords have announced the team which is to carry out an appraisal of the work that needs to be done to restore and repair one of Britain’s most iconic sites. The study will explore a number of ways in which Parliament can remain operational while implementing long overdue essential works to protect the Palace of Westminster, an important Grade I listed building and UNESCO World Heritage site. Deloitte Real Estate, AECOM and HOK have been chosen to undertake an Independent Options Appraisal as part of the Palace of Westminster Restoration and Renewal Programme. The appraisal was commissioned following the publication of a study in 2012 which showed that, unless significant restoration work is undertaken, major, irreversible damage may be done to the Palace. (more…)

Architects’ workloads remain in positive territory across the country reports RIBA

by • Architecture, News, Property, Public Sector

RIBA future trends Nov 2013The design and construction sector continues to pick up, particularly in Scotland, Southern England and London says the Royal Institute of British Architects (RIBA). Although the Future Trends Workload Index fell back slightly in November, standing at +31 compared with +35 in October 2013, it remained firmly in positive territory. RIBA’s monthly survey illustrates the profession’s confidence and workload, and is a useful indicator of the health of the wider UK construction industry.Welcoming the growing confidence across the United Kingdom, RIBA Director of Practice Adrian Dobson said: “In terms of geographical analysis the highest balance figures were in Scotland (+50), the South of England (+41) and London (+40), but all UK nations and regions remain positive about future workloads, again reflecting a widespread increase in confidence levels.” (more…)

New survey reveals extent and nature of workplace change programmes

by • Comment, Facilities management, Property

Apple 11

The newly published Workplace Transformation Survey from property consultancy  Cushman and Wakefield begins with the now routine statement that “there is no doubt the corporate workplace is rapidly transforming”. So tell us something we don’t know – and in the subsequent report they pretty much do. That said, the methodology of the survey does skew the results by focussing on a particular part of the workplace elephant, because the report was compiled in conjunction with CoreNet Global, based on a questionnaire of over 500 occupiers and other participants from around the world taking part in events in Los Angeles, Amsterdam and Shanghai. So inevitably the results are weighted to at least some degree in favour of those with an interest in commercial property and the regions from which it draws its data. (more…)

Highest ever BREEAM outstanding score for PwC’s HQ refurbishment

by • Company news, Environment, Facilities management, Property

PWC refurbishment wins highest every BREEAM

PwC’s nine-storey headquarters at One Embankment Place in London has surpassed all BREEAM scores to date for both new build and existing structures. The 450,000 sq ft commercial office building located at Charing Cross station in London has achieved a milestone 96.31 per cent BREEAM Outstanding score, including a 100 per cent score for materials, transport and management. Built in the early 1990s, the structure, which comprises a basement below the station and nine floors of office space above it, has had a complete office refit and refurbishment as well as full central plant replacement in the basement areas, roof and terraces. Achieving a high BREEAM rating and EPC score was a priority of the refit, which was achieved while some 2,000 staff remained in occupation. (more…)

The creative talent in the UK’s regions (other than London) is quietly thriving

by • Comment, Property, Technology, Workplace

We can now be very confident that the UK economy is on an enduring upward path. We can also be sure that the UK that emerges from five years of recession will be very different to the one that entered it. And on that score things look pretty promising too, because we have the skills and talent needed in some of the world’s most in-demand sectors such as digital media, banking, software development, telecoms and publishing. In fact a recent report from Deloitte says that London employs more people in these and similar knowledge-based sectors than any other country in the world. But while London has an inevitable tendency to grab these sorts of headlines, it’s also great to acknowledge that London doesn’t have a monopoly on this pool of talent, and may even be less attractive as a base for some firms.

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Advice to Government to stick to carbon reduction budget welcomed by UK-GBC

by • Environment, News, Property

Advice to Government to stick to carbon reduction budget welcomed by UK-GBCThe Coalition must stick to agreed targets to dramatically reduce carbon dioxide emissions, the government has been told. The Committee on Climate Change (CCC), the statutory body set up to advise the government on meeting long-term carbon goals says there has been no change in the circumstances upon which the fourth carbon budget (2023 – 2027) was originally set in 2011 that would justify lowering current proposed levels of emissions cuts. Responding to Chancellor George Osborne’s request to review the carbon budget, the committee said if anything, changed circumstances point towards a tightening of the budget. Its findings were backed by the UK Green Building Council, which says that the construction and property sector has been plagued by Minister’s shifts in energy management policies.

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Remarkable resurgence of confidence in the UK commercial property market

by • News, Property

Edinburgh is one region enjoying a resurgence in confidence

Edinburgh is one region enjoying a resurgence in confidence

The UK commercial property market is continuing its strong recovery, driven in large part by a resurgence in regional markets and financed by more adventurous borrowing by investors, a juxtaposition of three new reports reveals. According to Lloyds Bank’s twice yearly Commercial Property Confidence Monitor, around three quarters of the small and medium sized commercial property agents surveyed for the report expect a  surge in activity over the next six months, led by especially strong confidence levels in Scotland, South West England, North West England and the Midlands. The results are mirrored in the latest Savills’ commercial development activity survey which found that  the UK’s commercial sector grew at its fastest rate on record during November. Meanwhile, another report from Laxfield Capital claims that investors are willing to take on more debt for new deals to take advantage of the new confidence in the market.

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New guidance on energy management published for facilities managers

by • Environment, Facilities management, News, Property

New guidance on energy management published for facilities managersThe British Institute of Facilities Management (BIFM) has published new guidance on energy management for facilities managers. The Energy Audits Good Practice Guide presents good practice for some of the important energy management procedures, ranging from developing an energy policy to deciding which improvements to make. It is designed to enable facilities managers to compare the results of an energy audit with good practice in both energy use and energy related procedures in order to manage their organisation’s energy costs. Part of the BIFM’s series of Good Practice Guides providing practical guidance for facilities management professionals the Energy Audits Good Practice Guide, which is supported by Hoare Lea, also includes practical tips and considerations for improving energy use, managing energy costs, and protecting the environment. (more…)

Sale of premier real estate portfolio More London announced

by • Company news, News, Property

City Hall, part of More London portfolioMore London has been sold to Kuwaiti firm St Martins Property Group for approximately £1.7 billion, according to Reuter’s sources. Owners London Bridge Holdings said it had originally intended to refinance More London (which is located adjacent to Tower Bridge and opposite The Tower of London), by the early summer of 2014 but had been persuaded to capitalize on “a highly attractive offer,” the details of which it has not yet disclosed. In a statement London Bridge Holdings said the transaction had underscored its success in transforming “a blighted, brown field site into a vibrant and vital global business centre.” The site was acquired in 1998 and is now a fully managed estate, with occupiers that include the Greater London Assembly – housed in City Hall, as well as PwC and Ernst and Young.

Don’t be caught by surprise by the hidden costs of commercial property

by • Comment, Facilities management, Knowledge, Property

 

let-signAccording to Colliers International’s recent Global Investor Sentiment Report, 2014 will see an increase in commercial property investor confidence, with 74 per cent of UK based investors saying they were more likely to risk investing across all property sectors, although offices remain the most popular category to invest in. Yet despite this vote of confidence, it seems strange to report that the real costs involved in property acquisition and maintenance, are frequently overlooked by the purchasers. It appears that businesses often have a patchy knowledge of the range of costs involved in owning or leasing commercial real estate, which is surprising when you consider that a company’s biggest single investment next to its workforce is commercial property.

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Built environment vows to improve accessibility for UK’s 12m disabled people

by • Facilities management, News, Property

Built environment vows to improve accessibility for disabled in UKSix of the top professional institutions that represent architects, town planners, surveyors, engineers and facilities managers have committed to improving accessibility for the country’s 12 million disabled people. To mark International Day of People with Disabilities, built environment institutions, including the Royal Institution of British Architects (RIBA), the British Institution of Facilities Managers (BIFM) and Royal Institution of Chartered Surveyors (RICS), have signed up to the Built Environment Professional Education Project; to  change the curriculum so inclusive design becomes a requirement of all built environment accredited courses at universities and colleges. The aim is to have nearly one third of all built environment professionals proficient in inclusive design within 10 years.  (more…)

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