July 14, 2022

Rising office fit-out costs begin to hit occupiers

An analysis by Savills of Q2 2022 Prime Office Costs (SPOC) in global markets around the world suggests that inflation and supply chain issues are now feeding into office fit-out costs and keeping occupiers’ net effective costs high in many cities around the world. Over the past year office fit-out costs have risen an average of 6 percent across the SPOC cities that have so far reported rises says Savills, although proportionally they remain a small part of overall costs compared to rents. More →

July 8, 2022

Calls for tax measures to speed up decarbonisation of commercial property

by Neil Franklin • Environment, News, Property

In its response to a consultation on the reform of capital allowances, the British Property Federation urges the Government to increase tax relief for capital expenditure on building projects that support the Government’s net zero and levelling-up ambitions and introduce a new tax credit system similar to that which applies to Research & Development spending. Buildings are responsible for around 30 percent of all greenhouse gas emissions in the UK and reaching net zero by 2050 will require significant capital investment in new types of building, building techniques and new technologies to improve the energy efficiency of domestic and commercial property. More →

July 8, 2022

Flex office space market in UK set to increase by half over next four years

by Neil Franklin • Company news, Property

Hybrid working policies are driving demand in the flexible workspace market as companies are using coworking and serviced offices at record levels. In its annual UK Market Update Report, The Instant Group’s data claims that demand for flex office space across the country is up 22 percent in the last 12 months. Cities – such as Leeds and Manchester are leading the way in this increase although there are also signs of a recovery in central London. The size of the space being taken with flex operators has also increased by 44 percent since the pandemic as larger companies incorporate more flexible workspace in their real estate portfolios. More →

July 1, 2022

UK rated world number one as Europe sets the standard on real estate transparency

by Jayne Smith • News, Property

Europe is leading the way on real estate transparency as a raft of new sustainability legislation raises industry standards, according to the latest Global Real Estate Transparency Index [registration] published by JLL, in partnership with LaSalle. Six of the 12 countries classed as ‘Highly Transparent’ in the report are in Europe with France, the Netherlands, Germany and Belgium among the most improved, joining Ireland and Sweden. More →

June 30, 2022

The fifteen minute city will transform the way we think about workplaces

by Wybo Wijnbergen • Cities, Features, Flexible working, Property

For most of history, there have been a small number of immovable truisms that formed the nature of what work is, and how communities form around it. While individuals have long held some agency around the structure and pattern of their work, being present in a communal workplace has been a non-negotiable reality. This need to work from an office comes wed with parallel requirements to help facilitate it. Employees have been willing to strike a compromise between where they wish to live and where they want to work through commutes, with the financial and time cost and associated stress that comes along with it. More →

June 23, 2022

BCO Conference challenges the office sector to up its game

by Jo Sutherland • Features, Property

Regarded as one of the property sector’s leading events, the BCO Annual Conference saw key players from all parts of the office industry flock to Manchester – the vibrant, modern cosmopolitan powerhouse that is celebrated around the world for being the UK’s most competitive, economically productive, liveable and vibrant region. In her keynote, Joanne Roney, chief executive of Manchester City Council, said that the most demanding, challenging and important priority is climate change, closely followed by making a positive difference to the lives of the people who live and work in the city. More →

June 21, 2022

RICS review promises greater focus on public interest

by Neil Franklin • News, Property

Lord Michael Bichard has published the Bichard RICS Review into the Institution’s Purpose, Governance and Strategy, which RICS Governing Council commissioned last December. The review was a key recommendation of Alison Levitt QC’s critical report into historic issues at RICS, which was published last September. RICS Governing Council said it ‘strongly endorses’ the report and recommendations, which were informed by a global stakeholder consultation process, and will now commence work on their practical implementation. Lord Bichard states in his report that the future success of the organisation “will require nothing less than a transformation of the Institution carried out at pace” and described the need for change as “urgent” and “unarguable”. More →

June 20, 2022

Birmingham BT HQ shows road ahead for its offices and the city

by Mike Hills • Cities, Features, Property, Workplace design

In January of 2020, shortly before that thing happened and before we knew much about the UK Government’s ‘levelling up’ programme, Birmingham was already a city on the rise. It had recently been announced that it was to host the Commonwealth Games in 2022 and was riding the crest of a number of high-profile developments and regeneration projects, not least those that arrived on the back of the controversial high speed rail station. More →

June 17, 2022

Coworking secret sauce: Experience unbound with Imogen Privett

by Freddie Steele • Flexible working, Podcasts, Premium Content, Property

Episode 10 of Workplace Geeks sees Chris Moriarty and Ian Ellison talking with workplace innovation consultant and senior research associate at UnWork/WORKTECH Academy, Dr. Imogen Privett, discussing the fascinating content and findings from her recent doctoral thesis, Experience Unbound: The Effects of Coworking on Workplace Design Practice. Imogen’s research offers a cautionary tale for interested organisations – merely adopting the spatial strategies or aesthetics of coworking without acknowledging the careful curation of space and relationships is unlikely to yield positive results. More →

June 14, 2022

BCO announces overhaul of specification guide

by Neil Franklin • News, Property, Workplace design

The British Council for Offices (BCO), has released a position paper proposing updated key design criteria, as part of its most recognised publication, the BCO Guide to Specification. The guide, which is normally published every 4 or 5 years, provides expert best practice advice on how to specify office space, helping industry practitioners provide space that meets the needs of occupiers, helping them to conduct their business in safe, healthy, comfortable, and productive workspaces. More →

June 7, 2022

Offices remain key to hybrid working strategy, claims report

by Jayne Smith • Flexible working, News, Property

Hybrid work adoption is growing and becoming a permanent element of the future of work, according to the new Workforce Preferences Barometer report [registration] from real estate firm JLL. However, the report’s authors also conclude that, as employee expectations and reality reach an equilibrium, the continuing use of offices remains pivotal to work routines. More →

May 29, 2022

Decarbonisation of buildings key to cities hitting net zero targets

by Neil Franklin • Environment, News, Property

City governments are setting ambitious sustainability targets, often well ahead of national goals; yet plans to tackle the carbon emissions from buildings are frequently given insufficient attention. To deliver an effective plan for the decarbonisation of buildings, partnerships with landlords, investors, developers and occupiers are essential, the report claims. In a study of 32 global urban centres, Decarbonising Cities and Real Estate, JLL’s research claims that real estate’s contribution to emissions averages 60 percent, even higher in the world’s largest business centres – as much as 78 percent in London, 73 percent in Tokyo, 71 percent in Washington, DC, 70 percent in Paris and 66 percent in New York. More →