Office rental sector benefits from office to home exemption

by • Facilities management, News, Property

Office rental sector benefits from office to home exemption says RICS

The office rental sector has benefited from the prospect of reduced supply, stemming from the recent announcement by the government to relax the need for permission to change use from commercial to residential, according to RICS’ property and construction experts. Although the first quarter results of the 2013 RICS UK Commercial Market Survey reveals how the retail side of the commercial market continues to suffer, other areas of the commercial property market – such as office and industrial space have seen demand for premises strengthen slightly with no major increases in empty floor space and rising levels of tenant demand for office premises. (more…)

UK authorities win exemptions from offices to homes planning changes

by • News, Property

Empty officeFollowing our report in February that the majority of  London’s boroughs had applied to be exempt from plans to relax planning laws on the conversion of offices into homes, the government has today exempted most of central London and some UK regions from the new rules. Local authorities were asked to apply for exemptions earlier in the year and now cover areas within the jurisdiction of 17 local authorities including the City of London, Camden, Islington, Hackney, Tower Hamlets, Southwark, Lambeth, Wandsworth, Westminster, Newham and Kensington and Chelsea. Nationwide, exemptions have been granted for parts of central Manchester, the Vale of the White Horse, Stevenage, Ashford in Kent, Sevenoaks and East Hampshire.

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Planning consent given for Tower Bridge Business Complex

by • News, Property

london aerialWorkspace Group has announced that it has received planning consent for the mixed–use redevelopment of its property at the Tower Bridge Business Complex in South East London. The final development will offer 270,000 sq ft of existing business space and 60,000 sq ft of new business accommodation as well as 800 new residential units and a public park.  Jamie Hopkins, chief executive officer said: “There is strong demand for tailored business space in the area and it is our firm intention to increase the number of jobs on site in order to benefit the local community.  The development also provides a significant boost to both the capital value and rental income of the site.”

UK Green Building Council sets out its plans for the built environment

by • Environment, Facilities management, Knowledge, News, Property

UK Green Building Council sets out future plans for sustainable future

The built environment is an engine for green growth and UK Green Building Council (UK-GBC) intends to demonstrate how, says the sustainable buildings campaigner today as it outlines specific areas of focus to promote green building over the next 12 months. This follows the publication of its Impact Report earlier this week which reflected on some of its key initiatives over the past year, including the launch of Pinpoint, a new search engine for information on green building, the publication of a plan for growth strategy and its work to influence  government policy regarding the built environment.

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Global coalition to create universal standard of property measurement

by • Architecture, Facilities management, News, Property

Global coalition to create universal standard of property measurement

The world’s leading property institutions meet today to create a universal method of measuring property assets. At present, the way property assets – such as an office development is measured, varies widely from country to country. With so many different methods of measurement available, it makes it difficult for those looking to invest in these developments to compare like with like. This confusion can affect property values, lead to errors in financial reporting and, consequentially, undermine market confidence. Headed by RICS, this initial meeting of the International Property Measurement Standards Coalition (IPMSC) is the first step to delivering this consistency.

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Balfour Beatty profits warning cites challenging construction sector

by • Company news, Property

Balfour Beatty construction

Building and infrastructure firm Balfour Beatty has issued its second profits warning in six months, with the announcement that its UK construction business is expected to deliver significantly lower profits than expected this year.  The company said the UK construction market has been a challenging environment in which to win and execute work, adding: “Market conditions which deteriorated significantly in the second half of 2012 continue to be difficult. Change in procurement trends, which we have previously highlighted have persisted, allowing customers to impose increasingly stringent conditions onto contractors.”

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New survey reveals risks of cutting costs in corporate real estate

by • Facilities management, Knowledge, News, Property

JLL ReportA new report from Jones Lang LaSalle claims to highlight how those firms who see their property as a driver of added value rather than a cost reap rewards in the form of higher revenue, employee performance and shareholder returns. In contrast, those firms who view their facilities as a cost and seek to reduce those costs for short term gain are, in fact, storing up long term problems and risks. JLL’s report – Global Corporate Real Estate Trends – claims to reveal the top five corporate real estate risks, including negative impacts on competitive advantage and profitability from cost cutting, procurement processes, lack of collaboration between functions and failure to drive productivity.

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Dubai developers switch unwanted commercial property projects to other uses

by • Facilities management, News, Property

Cups gameThe UK isn’t the only country looking to convert its unwanted office space into other uses. According to a new report from CBRE, the oversupply of new commercial property in Dubai is leading developers to switch the use of projects in the Emirate before they have even finished building them. With occupancy levels already at less than 50 percent in some areas and swathes of new developments coming online thanks to Dubai’s ongoing commitment to a policy of ‘build it and they will come’, developers are taking the decision to convert construction projects to homes or hotels.

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Lack of skills hampering business growth say UK CEOs

by • News, Property, Workplace

Lack of skills training is hampering growth say business leaders

Nearly two thirds (65 per cent) of UK employers say a lack of key skills is hampering their growth prospects – with construction, mining, engineering and energy companies reporting the most chronic shortage of skilled employees. Yet, according to a PwC global survey, while three out of four UK CEOs said creating a skilled workforce should be the Government’s highest priority only a third intended to do anything about it for the coming year. Instead, they see it as a longer-term goal; with 70 per cent of respondents saying they plan to increase investment in their workforce over the next three years. (more…)

British Land submits plans for London landmark Mayfair scheme

by • Architecture, News, Property

British Land development

British Land has submitted a planning application to Westminster Council for a major new 193,500 sq. ft. mixed use scheme following its acquisition of the Clarges Estate last year. The site totals almost one acre bounding London’s Piccadilly and includes residential, offices and retail. Planning consent for an earlier scheme was granted in April 2011 but the new plans mean the development’s office element will be re-modelled from 91,000 sq. ft. to 47,500 sq. ft to sit on the ground floor and six upper floors with facades to Clarges Street and Bolton Street.

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New projects to research green building solutions

by • Environment, Facilities management, News, Property

The BRE Centre for Innovative Construction Materials

Two major new projects to further the development of sustainable building solutions have been launched. The BRE (Building Research Establishment) National Solar Centre, aimed at providing a research based, independent platform in the use of solar energy in the UK was officially opened in Cornwall today, and a £1m ground-breaking building called the HIVE funded by the Engineering and Physical Sciences Research Council (EPSRC) and led by Dr Mike Lawrence from the University of Bath’s BRE Centre for Innovative Construction Materials, is to be built at a dedicated research park in Swindon.

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Plans for redevelopment of iconic BBC Television Centre confirmed

by • Architecture, Facilities management, News, Property, Workplace design

BBC television centre redesign plans confirmed

Detailed plans to open up and transform the BBC’s Television Centre into a mixed use development including office and studio space for the BBC have been released today. Developers Stanhope and the BBC revealed in February that for the first time, Television Centre will be opened up to the public and the famous forecourt remodelled. The BBC will remain at Television Centre operating studios and BBC Worldwide will consolidate their new home at Television Centre, following refurbishment. The remaining offices are aimed at occupiers in the creative sector. The much loved listed buildings at Television Centre will be retained. (more…)

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