A new report from KPMG suggests that half of major corporations do not expect to see a return to any sort of ‘normality’ until 2022 when half of the general population has been vaccinated. The report also claims that there has been a steep decline in the appetite of the global executives who took part in the survey for office downsizing as the firms reconsider the need for in-person business to resume when countries emerge from the pandemic. More →

Take-up of office space in the cities outside of Central London during Q4 2020 totalled 1.1m sq ft, an increase of 138 percent compared to Q3 2020. However, the overall take-up for 2020 reached 3.9m sq ft, a decline of 40 percent on the five-year average, according to research from real estate advisor CBRE. More →

Avison Young, realestateworks and HLM Architects have launched a new report that assesses the impact of this year’s pandemic on workplace and corporate real estate strategies in the longer-term. Over 100 private and public sector companies were asked about their evolving approach to working culture, office design and portfolio strategies in the context of multiple forces of change, including greater resilience, the decarbonisation agenda, personalisation, remote working and the integration of the physical and virtual workspaces. More →

New analysis by McBains, of commercial property transactions worth £100m-plus completed in London over a 12-month period suggest a fall in the total value and volume of deals, but the market holding relatively strong in the face of COVID-19 and uncertainty over the UKs impending EU exit agreement. More →

The construction of new offices in central London has declined by half (50 percent) in six months as developers and occupiers shift their focus to refurbishment, according to Deloitte Real Estate’s latest London Office Crane Survey. The crane survey analysed office building data over the six months to 30 September, and included a poll of London’s biggest developers conducted at the end of September. The total office space under construction in central London is now 15.1 million sq ft. This is similar to the level recorded in the previous survey (15.3 million sq ft, the highest since 2002) as developments are now taking longer to complete. More →