Government Environmental Improvement Plan is ambitious but needs a clear plan

Government Environmental Improvement Plan is ambitious but needs a clear plan

by • Environment, Facilities management, News, Property

The UKGBC has welcomed the ambition and vision of the Government’s Environmental Improvement Plan, particularly the water efficiency roadmap which broadly aligns with UKGBC recommendations. Yet the lobbying group also claims that the Plan falls short of providing the practical targets and policiesThe UKGBC has welcomed the ambition and vision of the Government’s Environmental Improvement Plan, particularly the water efficiency roadmap which broadly aligns with UKGBC recommendations. Yet the lobbying group also claims that the Plan falls short of providing the practical targets and policies for the built environment to play its part in halting nature’s decline. Many critical areas of interest to our sector – including planning system reform, policies for environmental net gain, and tangible targets – are insufficiently explained or missing entirely from the Plan. More →

The business case for the retrofit of existing buildings keeps getting stronger

The business case for the retrofit of existing buildings keeps getting stronger

by • Environment, Facilities management, Features, Property

The news last year that the M&S flagship Orchard House store on Oxford Street in London was to be demolished to make way for a new mixed-use development of shops, offices, restaurants and a gym sparked a very British sort of debate about the pros and cons of retrofit and refurbishmentThe news last year that the M&S flagship Orchard House store on Oxford Street in London was to be demolished to make way for a new mixed-use development of shops, offices, restaurants and a gym sparked a very British sort of debate about the pros and cons of retrofit and refurbishment. This is M&S after all. It may not be the cultural touchstone it once was but it remains an institution. But the debate was also about some things you might expect right now, including the ongoing deterioration of Oxford Street, the loss of a landmark building (and an art deco one at that) and the suitability of the ten-storey, mixed-use development that was to replace it. More →

Half of people never thought they’d be back working in an office last year

Half of people never thought they’d be back working in an office last year

by • Flexible working, News, Property

More than half of UK employees did not believe they would return to office based work full time in 2022, according to a survey by GlobalDataMore than half of UK employees did not believe they would return to office based work full time in 2022, according to a survey by GlobalData. The poll from the analytics company which focuses its research on the insurance sector  suggests that increasing consumer demand for flexible working models presents both challenges and opportunities. GlobalData’s survey, conducted as part of research for its Insurance Intelligence Center, indicates that only 40 percent of those surveyed anticipated a return to the office in 2022. More →

TOG opens what it claims is Central London’s tallest mass timber office building

TOG opens what it claims is Central London’s tallest mass timber office building

by • Environment, News, Property

Flexible office provider TOG has announced the opening of its first project built from the ground upFlexible office provider TOG has announced the opening of its first project built from the ground up – The Black & White Building, located in Shoreditch. The firm claims that The Black & White Building is Central London’s tallest mass timber office, standing at 17.8 metres high and covering 38,315 sq ft. The workspace has been built using renewable materials and innovative construction methods, which TOG claims results in embodied carbon creation being reduced by 37 percent compared with a concrete structure of the same size. More →

Commercial property values and returns fell significantly in 2022

Commercial property values and returns fell significantly in 2022

by • News, Property

London and UK commercial propertyUK commercial property capital values decreased significantly in 2022, and annual total returns were also down, according to the latest CBRE Monthly Index. Capital values decreased 3.0 percent across all UK commercial property in December 2022. Rental value growth for the month was 0.2 percent and total returns were -2.6 percent. For 2022 as a whole, capital values fell 13.3 percent, and annual total returns were -9.1 percent, according to the report. More →

Three quarters of flexible office operators eye expansion and landlords want a piece of the action

Three quarters of flexible office operators eye expansion and landlords want a piece of the action

by • Flexible working, News, Property

Instant Group flexible officeAround three quarters of flexible office operators globally are looking to expand – primarily in city centres – while 64 percent of landlords want to deliver flexible office solutions, according to The Instant Group’s Future of Flex 2022 flexible office survey. The Instant Group’s annual flexible workspace survey, which is based on providers representing more than 3,700 locations across the globe, also delves into changing occupier motivations within the industry, and how both operators and landlords are reacting to these demands. More →

Lambeth plans major expansion in sustainable office space

Lambeth plans major expansion in sustainable office space

by • Company news, Environment, Property

Lambeth plans major investment in sustainable office developmentsLambeth is set for London’s biggest increase in sustainable office space over the next decade with an estimated six million square feet of extra space for business set to be created. A report commissioned by Lambeth Council details this expansion, how it supports the borough’s growth priorities and delivers space fit for the future of work. The report ‘Lambeth: The Future of Sustainable Work’ sets out how expansion supports the council’s bold ambitions to foster well-paid jobs in growth sectors for the borough’s young people, to achieve its Net Zero by 2030 outcome and to create an environment for local entrepreneurs to flourish. More →

Office sector net zero targets require significant shift in thinking

Office sector net zero targets require significant shift in thinking

by • Environment, Facilities management, News, Property

An image of the Earth from space to illustrate what is at stake for the office sector, which is one of the main contributors to carbon emissionsA new report, Delivering Net Zero Carbon in the Workplace [BCO members only] produced by University College London Consultants (UCLC) for the British Council for Offices (BCO), claims to identify the barriers that businesses are facing as they strive to drastically reduce the carbon footprint of their offices. The report, informed by over 100 office occupiers and building professionals, outlines the measures that those working in the office sector can take to overcome these barriers at what the report suggests is low or zero cost. More →

Lease cycle means West End office market will ‘reset’ by 2025

Lease cycle means West End office market will ‘reset’ by 2025

by • News, Property

An ancient snakes and ladders game board to depict the vicissitudes of the office market in LondonA BNP Paribas Real Estate analysis claims that London’s West End office market is on course to ‘reset’ by 2025 following a major leasing event cycle commencing in 2023, which will see a flurry of renewals, expiries and break clauses executed by both landlord and tenant, which will alter the market as we know it by the milestone year.  According to the firm’s own West End data, 40 percent of the market will have a lease event in 2023 and 2024, with equally large volumes to follow in the two subsequent years. This freedom of tenant movement coupled with a restricted supply line, could drive rents on prime buildings from their current 2022 position of £140 sq ft to £200 sq ft in 2023 and £250 sq ft in 2024, and further into 2025 where the initial cycle ends. More →

Investment in real estate upgrades stalls in face of economic and business challenges

Investment in real estate upgrades stalls in face of economic and business challenges

by • News, Property

An image of some offices to illustrate the challenges facing real estate investors Research by ULI and PwC claims that nearly half of Europe’s real estate leaders are concerned about buildings becoming obsolete in the next five years in the face of long-term upheavals in demographics, climate change, technology and lifestyles. Most of the 900 or so industry leaders that participated are making long-term resources available to address the fit-for-purpose agenda. However, the challenging business environment has reshuffled priorities to financing and high construction costs, and scarcity of resources has made real estate renewal more expensive to achieve, consequently delaying much needed investment. More →

Retrofitting buildings essential to reduce energy costs and combat the global energy crisis

Retrofitting buildings essential to reduce energy costs and combat the global energy crisis

by • Environment, News, Property

A tree lined street to illustrate the green benefits of retrofitting buildingsA new report from JLL claims that rising energy costs are expediting the move toward more efficient buildings. JLL’s Retrofitting Buildings to be Future-Fit research suggests that net-zero carbon (NZC) intervention measures directly impact a building’s bottom line and that failing to decarbonise leads to significant financial risk. For many buildings, meeting 2050 decarbonization targets put forward in the Paris Climate Agreement is grounded in retrofitting current spaces, which can also garner higher rents, reduce financial risk and generate higher occupancy rates and tenant satisfaction. More →

Plans for largest datacentre in Europe approved by London council

Plans for largest datacentre in Europe approved by London council

by • News, Property, Technology

A rendering of the plans for the datacentre in HaveringHavering Council has agreed to move forward with the £5.3bn East Havering project, which will bring Europe’s largest datacentre to the borough in Greater London, delivering a major piece of national infrastructure. The Cabinet agreed for the council and its prospective partner, Digital Reef, to continue to develop the proposals to bring forward the site. This decision means the Council in its capacity as Local Planning Authority can begin to take a view on the appropriate planning route for this project. More →

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