Only a quarter of firms say that staff will need to work full time from an office in future

Only a quarter of firms say that staff will need to work full time from an office in future

New research by the British Chambers of Commerce Insights Unit and technology firm Cisco, shows less than 30 percent of firms expect their workforce to be fully in person over the next five years. The survey of over 1,000 businesses, of which 96 percent were SMEs, found just 27 percent of respondents predict their staff will be fully in-person over the next five years. 47 percent anticipate their staff to be mostly in-person, 16 percent expect mostly remote and 8 percent fully remote. More →

Government brings forward plans to relocate 22,000 jobs away from London

Government brings forward plans to relocate 22,000 jobs away from London

The UK Government is bringing forward its target to relocate 22,000 roles out of LondonThe UK Government is bringing forward its target to relocate 22,000 civil service roles out of London. It comes as new figures today show that 16,061 roles have already been moved out of London, exceeding the commitment to relocate 15,000 roles by 2025 as part of the Places for Growth programme. Under the newly announced plans, Aberdeen, Darlington and Greater Manchester are to host second headquarters for major departments. Darlington is already the Treasury’s second headquarters.

Workplace and property firms must wake up to the new era of networked businesses

Workplace and property firms must wake up to the new era of networked businesses

the networked workplaceWhile millions of words have been dedicated to the expected changes in post-Covid workstyles – how will people work, where will they work, how will they be supported – very little has been said about their employers: companies and corporations. Yet the anticipated changes to work and the workplace raise questions about the role of the company. Is it one just half of a transaction between employer and employee? Or is it something more? Indeed, what is the role of the company in the modern economy? Is the nature of the company likely to change? The answers could have a greater impact on workstyles than the pandemic. More →

Cost and a lack of awareness are barely holding back surge in demand for green real estate

Cost and a lack of awareness are barely holding back surge in demand for green real estate

There is growing demand for green real estate in the APAC region, despite ongoing challenges in raising awareness and the higher costs involvedThe new RICS Global Sustainability Report for 2023 claims that there is growing demand for green real estate in the APAC region, despite ongoing challenges in raising awareness and the higher costs involved. The publication sets out to outlines the state of the world’s green and sustainable real estate and investor interest in acquiring and developing it. More →

Flexible workspace market will be worth up to $50bn by end of decade

Flexible workspace market will be worth up to $50bn by end of decade

The worldwide flexible workspace market could exceed between 35 and 50 billion US dollars by 2030, reflecting the growing demand for flexible and agile work environmentsAccording to a new market intelligence report, the worldwide flexible workspace market could exceed between 35 and 50 billion US dollars by 2030, reflecting the growing demand for flexible and agile work environments. The report claims that the escalating demand for flexible workspaces is on the rise, propelled by a heightened desire for convenience and comfort in prime locations such as offices and auditoriums. More →

Creating the epicentre: unlocking the untold benefits of next-generation office spaces 

Creating the epicentre: unlocking the untold benefits of next-generation office spaces 

Many associate the notion of futuristic office spaces, filled with equipment like sleep pods and beer taps, with companies that have a young workforce or challenger brand identityMany associate the notion of futuristic office spaces, filled with equipment like sleep pods and beer taps, with companies that have a young workforce or challenger brand identity. The association is often linked to tech giants like Google, which created quite a stir when it originally revealed its indoor slides. Whilst the inclusion of playground furniture in the office is not right for every business, the assumption that unconventional workspaces should be limited to unconventional companies simply isn’t true.  More →

Demand for sustainable buildings and tight regulations drive business case for investment

Demand for sustainable buildings and tight regulations drive business case for investment

The current economic environment is creating challenges for investors and occupiers to make the case for investing in retrofitting and futureproofing their real estate. JLL’s new The Commercial Case for Making Buildings More Sustainable report outlines three key factors that should be prioritized in occupiers’ and owners’ decision-making to create a more resilient and sustainable built environment. More →

Unpicking the retrofit enigma

Unpicking the retrofit enigma

We explore many of the issues around the crucial subject of retrofit in this supplement produced in partnership with BVNEarlier this year, a report from building consultancy Mace advocated for a retrofit first principle for buildings. The report highlighted how non-domestic buildings in the UK make up about an eighth of the country’s building stock but account for around a quarter of the country’s carbon emissions. The solution argued for in the report was to look at how best to retrofit around 3.5 million such buildings over the next ten years. We explore many of the issues around this crucial subject in this supplement produced in partnership with BVN. It represents both a snapshot of the current conversations about retrofit while pointing a way ahead. This one will run and run, but we need to get it right. More →

No one shouted stop, although we all should have seen it coming

No one shouted stop, although we all should have seen it coming

And No One Shouted Stop! seems to me to be an apt phrase to capture these post- pandemic times as we grapple with work and workplace dilemmas. It comes from the little-known but widely acclaimed book of the same name by John Healy. It is set over 50 years ago and it chronicles the decline of an Irish town. The book’s underlying narrative is a train crash happening in slow motion, people see it coming but nobody feels able to stop it. I sincerely hope that this will not prove to be the case for the world of commercial real estate as it grapples with hordes of tenants asking not just ‘where is my office?’ But ‘why do I need an office?’ More →

The challenge for fit-out firms is to deliver best value despite supply chain challenges

The challenge for fit-out firms is to deliver best value despite supply chain challenges

Whilst industry supply and demand dynamics may have found a level of equilibrium since the pandemic, geopolitical tensions, economic disruptions, and an unstable domestic policy environment continue to have an impact on the office fit-out marketThe past year has been a challenging one for London’s commercial fit-out market. Whilst industry supply and demand dynamics may have found a level of equilibrium since the pandemic, geopolitical tensions, economic disruptions, and an unstable domestic policy environment continue to have an impact. In tandem with this, the commercial fit-out market is adapting to changing needs; from accommodating hybrid working models to growing demands for sustainability and reuse, the workplaces of today are ever changing. More →

Prime office rents in London’s West End continue to rise in response to growing demand

Prime office rents in London’s West End continue to rise in response to growing demand

BNP Paribas Real Estate has predicted that super prime office rents in London’s West End could hit £300 per sq ft by December 2024, as it says demand continues to outstrip the constrained supply of spaceBNP Paribas Real Estate has predicted that super prime office rents in London’s West End could hit £300 per sq ft by December 2024, as it says demand continues to outstrip the constrained supply of space. The prediction has been made on the basis of evidence shared by an expert at the firm. BNP Paribas Real Estate West End office agent Simon Knights claims that lettings could see rents for super prime office stock reach highs of “up to £300 per square foot by December 2024” as demand continues to outstrip constrained supply. More →

Real estate tech strategies advance AI, workplace and sustainability

Real estate tech strategies advance AI, workplace and sustainability

Commercial real estate occupiers are willing to put their money where the tech is, according to new polling from JLL’s 2023 Global Real Estate Technology Survey. Ninety-one percent of occupier respondents are willing to pay a premium for tech-enabled space as they look to technology for strategic value and increased revenue. In fact, real estate tech budgets are set to grow faster than investments in?headcount, footprint and operating budgets, the report suggests.  More →