July 29, 2013

Fewer London firms plan to expand within the capital reports CBI

by Sara Bean • Facilities management, Knowledge, News, Property

As we’ve reported previously London is enjoying a booming office rental market, but according to the latest CBI/KPMG London Business Survey, high operating costs are making the capital less of an attractive prospect. While more of London’s businesses plan to expand during the next year, fewer are planning to do so in the capital, with high operating costs and housing shortages cited as the biggest concerns. London’s firms also plan to spend relatively more on recruitment and training; product and process innovation; and IT plant and machinery, but less on land and buildings. More →

July 24, 2013

RICS reports most positive construction sector activity for six years

by Sara Bean • News, Property

The UK construction sector finally seems to be turning a corner with new projects beginning to rise in almost every part of the country, according to the latest RICS construction market survey. During the second quarter of this year a net balance of 21 per cent more surveyors reported rises in workloads, the most positive reading in over six years. While consistently falling activity has meant that projects are still generally speaking thin on the ground, this upturn suggests that the worst could now be over for the sector. More →

July 24, 2013

News Corp move marks largest Central London office letting agreement in 8 years

by Sara Bean • Company news, Facilities management, News, Property

In the largest letting in Central London to be agreed in the last eight years, News Corp is to move its entire operation to all 17 floors of the Place, next door to the Shard at London Bridge Quarter. The Place, like The Shard, is designed by Renzo Piano and comprises 430,000 sq ft of high quality offices, much of which utilises natural light. The move will see staff of News UK, Dow Jones and HarperCollins housed together for the first time once relocation to the new site begins in the summer of 2014.

July 22, 2013

Green shoots detected for UK regional office rental markets

by Sara Bean • Facilities management, News, Property

There is evidence of improving fortunes for the UK’s regional office markets, latest figures suggest. CBRE has revealed national rental value grew by 1.7 per cent over the second quarter of this year with offices across all UK regions performing well, and none recording a drop in rents. The highest rate of rental growth over the last twelve months, as we reported earlier this month remains that of Central London at 5 per cent (and 1.7 per cent for the last quarter), but a number of the regions outside London and the South East have started to record rental growth for prime offices, whereas until recently the general trend has been down.

July 22, 2013

Active Building Design initiatives announced by New York Mayor

by Sara Bean • Facilities management, News, Property, Workplace

The Mayor of New York Michael Bloomburg has announced a series of initiatives to promote physical activity through the design of buildings and public spaces to encourage architects, planners and urban designers help combat obesity in the City. The Center for Active Design, a non-profit organization that promotes changes to the built environment to improve wellness is being created, and the Mayor has issued an Executive Order requiring City agencies use active design strategies when performing new construction and major renovation projects. Two pieces of legislation will promote stairway access in all buildings, with measures such as making stairways more visible to encourage use. More →

July 17, 2013

Plans to redevelop London’s Smithfield Market are given the green light

by Mark Eltringham • Architecture, Furniture, News, Property, Workplace design

The much talked about plans to redevelop Smithfield market have been given the green light by City of London planners. As we reported earlier this year, the development in the heart of a London district renowned for its creative industries, including many of the UK’s leading workplace design studios, has been the subject of a great deal of scrutiny and controversy. Now the City of London’s planning and transport committee has voted to approve the scheme designed by John McAslan + Partners. Most of the objections were made by campaigners based on the heritage of the historic site.

July 16, 2013

Corporate Real Estate executives predict strong global economic outlook

by Sara Bean • Facilities management, News, Property

The global economic outlook is strong for the second half of 2013, while the prospects for corporate growth and expansion are also increasing, according to the views of corporate executives surveyed in June for the new CoreNet Global Confidence Index. Nearly two-thirds (62.5%) rated their outlook on the global economy for the coming six months as optimistic to very optimistic, compared to a year ago. Most (72.4%) reported the likelihood that flexible, open workplace strategies will increase, while space per work setting and/or work settings per supported worker will be reduced.

July 15, 2013

EU opens consultation on reducing the environmental impact of buildings

by Sara Bean • Environment, Facilities management, News, Property

The European Commission is gathering views on how to reduce the environmental impacts of buildings. The consultation will focus on resources such as materials (including waste), water and embedded energy and aims to address resource use and related environmental impacts throughout the life-cycle of buildings, from the extraction of building materials to demolition and recycling of materials. James Drinkwater, Senior Policy Advisor for the Europe Regional Network of the World Green Building Council, welcomed the move: “It is incredibly important that the green building movement gets behind this evolution in building policy, and engages with the Commission on what the right strategic direction is going forward.” More →

July 12, 2013

New joint venture formed to capitalise on booming London Office market

by Sara Bean • Company news, News, Property

A 50:50 joint venture partnership to capitalise on the thriving London office market has been formed by Hermes Real Estate Investment Management Ltd and Canada Pension Plan Investment Board. CPPIB is investing £173.9 million to acquire a 50 per cent interest from Hermes’ BT Pension Scheme’s (BTPS) existing portfolio, which comprises 550,000 sq ft of high quality offices, retail and ancillary accommodation, primarily located in London’s West End. Graeme Eadie, Senior Vice-President and Head of Real Estate Investments for CPPIB, said: “We are pleased to be partnering with BTPS and Hermes on this unique opportunity to invest in a high quality, well-diversified portfolio of office properties in prime Central London locations.”

July 12, 2013

Video: world’s largest building opens in China

by Mark Eltringham • Architecture, News, Property

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Dubai will be kicking itself at the news that the world’s largest building, or rather world’s largest standalone man-made structure, has opened in China. The New Century Globe Centre in Sichuan province is a mixed use development housing offices, leisure facilities, hotels, shops, restaurants and even a beach resort warmed by an artificial sun. The 18-storey, glass and steel frame structure, is situated above a new metro station in Chengdu, stands 100 metres high, is 500 metres long and 400 metres wide giving it a floor space of 1.7m sq. m. making it the world’s largest standalone building, beating the previous record holder Terminal 3 at Dubai International Airport by around 50,000 sq. m. and, as measured according to internationally recognised lazy media shorthand analogies, able to house 20 Sydney Opera Houses.

July 12, 2013

The challenge in Silicon Alley is providing the right quantity and quality of office space

by Charles Marks • Comment, Facilities management, Property, Workplace design

News emerges from BNP Paribas that the most dynamic occupiers in Western European property markets belong to the technology, media and telecoms (TMT) sector and that the most important market in the region is London. This comes as no surprise given the plans of Google to move to its new home in King’s Cross and the focus on developments in Tech City. But the same hothousing of TMT businesses is also evident in the area Prime Minister David Cameron has referred to as Silicon Alley, a cluster of businesses running alongside the M4 originally clustered between Reading and Swindon but now extending as far as Bristol. Companies that have found a home in the area include the likes of Cisco, Microsoft, Oracle, Ericsson, Vodafone, O2, Citrix, Dell, Huawei, Lexmark, LG, Novell, Nvidia, Panasonic, SAP and Symantec not to mention the countless other smaller businesses, consultants and freelancers that share this hothouse.

July 11, 2013

Green Building Council Awards recognise European environmental leadership

by Sara Bean • Environment, News, Property, Public Sector

The UK Green Building Council is accepting nominations for the first-ever European Regional Leadership Awards, part of the World Green Building Council Leadership Awards 2013, which recognise international best practice in city-level government policy for green building initiatives. The regional awards are for best practice in green building initiatives, projects, and policies that are supporting healthier and more sustainable communities within the European Region. “The awards promote leadership and inspire governments to replicate best practices in green building policy,” said the WorldGBC’s Chief Executive Officer, Jane Henley. “Buildings represent an unrivalled opportunity to reduce global greenhouse gas emissions, and cities play an increasingly critical role in seizing this opportunity.”