Only one in eight office occupiers think their property aligns with their business objectives

Only one in eight office occupiers think their property aligns with their business objectives

by • Facilities management, News, Property

Only around 14 percent of office occupiers believe their existing workspace portfolios align completely with their business objectives,Only around 14 percent of office occupiers believe their existing workspace portfolios align completely with their business objectives, according to a new report on the future of the office by the Urban Land Institute and The Instant Group. The ‘state of flux’ identified in the report suggests that while the office is ‘here to stay’, the sector is bracing itself for a profound shift.  Two thirds (62 percent) of office landlords expect a decrease in capital values with the current valuation model and less than 2 percent of asset owners feel they have the required capex to respond to occupier and ESG legislation-related requirements. (more…)

Office market continues to fail on environmental standards …. say landlords

Office market continues to fail on environmental standards …. say landlords

by • Environment, News, Property

A new survey that explores the state of sustainability within the UK office market, jointly commissioned by infinitSpace and The Instant Group, claims that the office market is falling behind on environmental policiesA new survey that explores the state of sustainability within the UK office market, jointly commissioned by infinitSpace and The Instant Group, claims that the office market is falling behind on environmental policies. The poll of 250 landlords suggests that almost half (47 percent) of landlords believe the office market is lagging behind other areas of the property sector in implementing/adopting environmental policies.  The same number say they can’t ‘go it alone’ with 47 percent of landlords agreeing they need help in shaping environmental policies. At the same time, 84 percent of landlords report a vacancy rate of 30 percent and above as average among their office building portfolio. (more…)

Two thirds of US landlords don’t really understand how their buildings are used

Two thirds of US landlords don’t really understand how their buildings are used

by • Facilities management, News, Property

62 percent of US landlords don’t have the tools they need to understand how their properties are used, in spite of the ongoing pressure on them to understand the experience of occupiersA new report from VTS claims that 62 percent of US landlords don’t have the tools they need to know how their properties are used, in spite of the ongoing pressure on them to understand the experience of occupiers and retain their business. (more…)

BCO specification guide updated to reflect demand for flexible, green, healthier offices

BCO specification guide updated to reflect demand for flexible, green, healthier offices

by • News, Property, Workplace design

he BCO has released an update to its specification guide, to offer advice on how to create healthier, greener offices that support changing working patternsResponding to what it claims are challenges emerging from the pandemic and the accelerating need for the built environment to respond to climate change, the British Council for Offices (BCO) has released an early update to its Guide to Specification, which provides expert advice on how designers can create healthier offices that support changing working patterns, while reducing carbon emissions.

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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…)

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