November 8, 2022

Hybrid working driving demand for areas with easier commutes

by Neil Franklin • Flexible working, News, Property, Workplace design

A report from Unispace claims that employees’ new preference for hybrid working has created an immediate need for firms to re-think their real estate footprint. Today, with over 60 percent of office-based employees preferring to work remotely or in a more flexible way, rather than commute to city centres five days a week, employers are considering the greater use or addition of satellite offices to their portfolio. According to the study of 3,000 office workers across Europe, 79 percent of the workforce would be happier to return to the office if it was just five to 10 minutes away from their home, suggesting that satellite offices could be a solution to boost collaboration, socialisation, engagement and staff retention. More →

November 4, 2022

Responsible capitalism, and space as a service will shape real estate industry over next 20 years

by Neil Franklin • Environment, News, Property

Europe’s real estate leaders have set out a long-term vision for the industry. In this scenario the most successful firms have adopted ‘responsible capitalism,’ the user is the centre of attention, the cycle of demolition and development has been broken, mixed-use is the norm and multi-disciplinary and in-house teams deliver space as a service across a range of sectors. Emerging Trends in Real Estate Europe 2023, the twentieth annual survey of European real estate sector leaders’ expectations by the Urban Land Institute (ULI) and PwC, has looked beyond the year ahead at the trends shaping the industry over the next two decades. This report captures the views of over 900 sector leaders from across Europe. More →

November 4, 2022

Corporate real estate sector facing up to tough year ahead

by Neil Franklin • News, Property

Corporate real estate business confidence and expectations of profitability have dropped to a low level, reflecting widespread industry concerns across an array of indicators for the business, political and real estate environments. Emerging Trends in Real Estate Europe 2023 is the twentieth annual survey by the Urban Land Institute (ULI) and PwC UK of European real estate sector leaders’ expectations for the year ahead. Based on the views of around 900 real estate leaders from across Europe, the report claims that 91 percent concerned about inflation, closely followed by interest rate movements (89 percent) and European economic growth (88 percent). Political uncertainty at the global, regional and national levels are of high concern as well. More →

November 3, 2022

Net zero carbon buildings standards coalition launches call for evidence

by Neil Franklin • Environment, Facilities management, News, Property

The team developing the UK’s Net Zero Carbon Buildings Standard (the NZCBS) has launched a call for evidence, to help inform and guide the development of the Standard. Once developed, the UK Net Zero Carbon Buildings Standard aims to provide a single agreed definition and methodology for the industry to determine what constitutes a net zero carbon building. The cross-industry group developing the Standard and championing this initiative includes representatives from the following organisations: Better Buildings Partnership (BBP), Building Research Establishment (BRE), the Carbon Trust, Chartered Institution of Building Services Engineers (CIBSE), Institution of Structural Engineers (IStructE), Low Energy Transformation Initiative (LETI), Royal Institute of British Architects (RIBA), Royal Institute of Chartered Surveyors (RICS), and UK Green Building Council (UKGBC). More →

November 2, 2022

Commercial property sector should embrace circular economy, say BCO

by Neil Franklin • Environment, News, Property

A new report from the British Council for Offices (BCO) is urging the commercial property industry to ‘retain, extend life, reduce impact’ to futureproof offices. The report sets out to provide circular economy guidance to the office sector in relation to new-build, refurbishment and fit out. The Circular Economy in Offices report [BCO members only] claims to set out how offices can be designed and constructed in order to eliminate waste and pollution, circulate products and materials and regenerate nature. More →

October 27, 2022

Hybrid isn’t working for many people because nobody can agree what it is

by Neil Franklin • Flexible working, News, Property

A new poll published by Landsec claims there is a distinct lack of clarity around what hybrid working means, with less than one in five UK workers agreeing on a definition. The report suggests that this hybrid ‘hotchpotch’ is having a negative impact on bosses’ relationships with their teams. More →

October 24, 2022

BCO recommends more space per person for the new era of flexible working

by Neil Franklin • News, Property, Workplace design

A report by the British Council for Offices (BCO) recommends a new method for calculating the amount of space needed per person in the post-pandemic world of flexible working. The research claims to identify a ‘sweet spot’ of 10-12 sq. m. per person. This will account for the rise in people working from home and hot-desking when in the office, while simultaneously ensuring the workspace meets modern employers’ requirements to promote productivity and wellbeing, as well as targets to minimise carbon emissions. More →

October 14, 2022

Office fit out and rent rises will hit occupiers worldwide this year

by Neil Franklin • News, Property, Workplace design

Occupiers around the world are facing a 10 percent increase in office fit out costs with rental rises also squeezing budgets for those in EMEA, according to a new report from Savills. The firm’s Prime Office Costs (SPOC) analysis for Q3 2022 suggests that fit-out costs in key office markets around the world have continued to climb with inflation, rising an average of 10%, with increased rents in many markets also contributing to higher total net effective costs for office occupiers. Overall, the markets which have seen the largest increases in net effective costs (including fit-out costs, rents and other costs) over the quarter are largely clustered in the EMEA region, including Dublin (+7%), London City (+5%), Dubai (+3%), and Berlin (+3%). More →

October 13, 2022

Office utilisation in US returning to pre-pandemic levels, but structural changes remain

by Jayne Smith • News, Property

A new report from JLL claims that utilisation rates of US offices are returning to something closer to those of the pre-pandemic world, although hybrid working remains a far more widespread working practice than before. In addition, the focus of the market is shifting away from major city centres towards smaller, regional towns and cities. The US Office Outlook Report [registration] also suggests that higher quality office space is essential as lower grade offices are more likely to remain abandoned. More →

October 13, 2022

Transparency and collaboration key to real estate decarbonisation

by Neil Franklin • Environment, News, Property

The Urban Land Institute (ULI) has warned of a ‘carbon bubble’ in the pricing of European real estate and urged the industry to work together to preserve values across the sector as it aims to meet the decarbonisation targets set in the Paris Agreement. To support a more collaborative approach, at the inaugural ULI C Change Summit, the institute has published its Transition Risk Assessment Consultation Guidelines as part of its C Change programme. These guidelines set out a standardised method for assessing the costs of decarbonising buildings and disclosing between owners, investors, potential buyers, and valuers the main transition risks and impact on values. More →

October 5, 2022

Gallery: British Council for Offices announces winners of national awards

by Mark Eltringham • News, Property, Workplace design, Works Magazine

Sunderland City Hall was celebrated as ‘Best of the Best’ at the British Council for Offices’ (BCO) National Awards at the Grosvenor House hotel in London last night, also taking home the ‘Corporate Workplace’ award. The office was joined by six other award winners recognised as leading examples of excellence in office space across the UK. The BCO’s National Awards programme claims to recognises top quality office design and functionality and says it sets the standard for excellence across the office sector. More →

September 23, 2022

TOG and Fora complete merger to create new flexible workspace giant

by Freddie Steele • Company news, Property

Following approval from the Competition and Markets Authority (CMA), TOG and Fora are proud to announce the completion of their merger, bringing together two highly complementary businesses with similar cultures and portfolios of high-quality, design-led workspaces. The merged business (the ‘Group’) will operate under a parent company called The Office Group with both the TOG and Fora brands retained until a full brand review is completed. The Group has plans to create the premier flexible workspace group in London and other key European cities and is well positioned to draw on the expertise and scale of both companies. More →