October 27, 2022
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
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
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
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
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
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
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 →
September 22, 2022
Progress is being seen in some aspects of the built environment on the drive to be more sustainable, according to the latest annual sustainability report produced by RICS, however the rate of advancement needs to accelerate significantly and become more widespread. The 2022 RICS Sustainability Report, which collated sentiment from almost 4,000 chartered surveyor contributors, around 1200 of which are from the UK, across commercial and construction sectors globally, shows that some improvement in the push for sustainability has been made in the past year, notably in the commercial real estate sector as demand for sustainable commercial property continues to rise. More →
September 21, 2022
Real estate developer EDGE has announced the official opening of Valley, the high-rise designed by MVRDV, which was recently declared the world’s best new skyscraper by the Emporis Awards. The firm claims that the addition to Amsterdam’s business district will mark a shift in thinking for urban development as a whole, transforming the Zuidas district into a vibrant and lively urban quarter. The fully leased 75.000-square-meter development, was officially opened in the presence of Reinier van Dantzig, Alderman for Housing and Urban Development, Municipality of Amsterdam, the Board of RJB Group of Companies, Winy Maas, Founding Partner at MVRDV, Coen van Oostrom, Founder & CEO of EDGE and all parties involved in the project. More →
September 9, 2022
As businesses continue to evolve their workplaces to best meet the needs of their employees, JLL’s global Future of Work Survey claims that 72 percent of decision makers believe the office is critical to doing business. The research shows that over the next several years companies anticipate hybrid work to become the dominant model and will be looking across their real estate portfolios to re-think their office spaces, invest in new technology, including virtual offices, and prioritise sustainability. More →
September 1, 2022
More than £2 billion in savings will be realised from the sale of UK public sector real estate and other efficiencies, Minister Jacob Rees-Mogg has announced. The savings are part of the new Government Property Strategy, which has now been published. As part of the plans, the government will sell £1.5 billion of property assets over the next three years as projects such as the Government Hubs programme sees government staff consolidated into fewer buildings. £500 million of savings will also be made by reducing operating costs, using modern building materials and energy sources, and cutting spend on leases. More →
August 31, 2022
The Central London Office leasing market has seen occupiers expanding their footprint at record levels, according to the research from real estate advisor, CBRE. Following what CBRE claims was an unprecedented downturn in activity as a result of the pandemic, Central London office take-up reached 12.7m sq ft for the 12-months to the end of Q2 2022, an increase of 153 percent when compared to the same period last year and 5 percent above the ten-year average. More →
