July 24, 2019

New government has unprecedented chance to transform buildings

by Neil Franklin • Environment, News, Property

The new UK government led by Boris Johnson has an unprecedented opportunity to dramatically shift policy on the built environment and deliver higher standards of safety, sustainability and social justice, according to the Building Engineering Services Association (BESA). It urged the new administration to back up rhetoric around climate change with robust legislation; to enshrine the recommendations of the Hackitt Review to improve fire safety in buildings; and tackle the scourge of late payment that is undermining thousands of SME and driving many into insolvency. More →

July 23, 2019

New BT HQ will be one of the “largest workplace transformations ever”

by Mark Eltringham • News, Property, Workplace design

BT has agreed a deal to move into a headquarters in the Aldgate area of London after the £210 million sale of its current base. BT will move to the new 320,000 square foot, 18-storey building near Aldgate East station currently called One Braham. The move comes as part of the group’s sweeping shake-up announced last month that will see 270 offices closed. Its consolidation plan – the biggest of its type in the UK – will see 300 offices reduced to 30 by 2023, although BT stressed that no jobs will be lost as a result of the move. More →

July 22, 2019

Santander reopens closed branch as coworking space

by Neil Franklin • Coworking, News, Property

Santander has opened its first Work Café in the UK. The Work Café concept was initially developed by Santander in Chile in 2016 and its success has seen 50 branches opened in Spain, Portugal, Brazil and Argentina. The bank claims the reopened branch will work as a ‘community hub’ offering banking facilities, free coworking spaces and freshly-brewed artisan coffee. The branch was previously closed at the end of June last year. More →

July 18, 2019

Construction sector loses patience with Brexit indecision

by Neil Franklin • News, Property

Activity in the construction sector rose in the second quarter of the year, despite concerns that political uncertainty surrounding Brexit was holding back investment. The Royal Institution of Chartered Surveyors claims that the market has lost patience with the lack of clarity over Brexit and that clients were beginning to push ahead with projects, albeit tentatively. In its construction and infrastructure survey, a balance of 16 per cent of respondents reported an increase in work, up from 9 per cent in the previous quarter. More →

July 17, 2019

CoreNet Global Summit to focus on workplace experiences

by Freddie Steele • Company news, Events, Property

Corporate real estate and workplace association CoreNet Global has announced that its Global Summit taking place in Amsterdam in September will examine the role that corporate real estate can play in leading, creating and fostering experiences that enable business success. The Summit, Amsterdam, which takes place this September, expects to bring together more than 650 corporate real estate executives, 100 speakers across 50 sessions. More →

July 16, 2019

New BCO specification guide addresses “exponential times”

by Neil Franklin • News, Property, Technology, Wellbeing, Workplace design

The British Council for Offices (BCO) has published its new Guide to Specification, which provides guidance on industry standards for workplaces across the UK. The Specification Guide, last published in 2014, sets out to help office developers address the key issues for the UK workforce in the coming decades, namely wellbeing, technology and sustainability. The authors claim that the new edition addresses the “exponential times” in which we now live, with sections focusing on wellbeing, the Fourth Industrial Revolution and sustainability. More →

July 11, 2019

HMRC extends deal for new London hub

by Neil Franklin • News, Property

Her Majesty’s Revenue and Customs (HMRC) today completed the topping out at the 12-storey office where HMRC will establish a new Regional Centre. HMRC has also leased a further 58,000 sq. ft. to become the sole tenant of the 300,000 sq. ft. development next to Westfield Stratford City. The topping-out ceremony was attended by senior executives from Unibail-Rodamco-Westfield, HMRC and Legal & General, which has funded the development. the offices are located above the shopping centre at Westfield Stratford City. Works continue with completion of the facade and internal works, in preparation for handover of office floors for final fit out by HMRC. More →

July 11, 2019

Commercial property investors losing appetite for UK

by Freddie Steele • News, Property

Enthusiasm among international investors for the UK commercial property market has continued to wane over the past quarter, according to BrickVest’s latest commercial property investment barometer. According to the data ,capturing the views of over 6000 international professional real estate investors, only 27 percent view the UK as their preferred market, a 4 percent fall in the past 12 months. More →

July 8, 2019

Flexible office demand in Paris almost double the global average

by Neil Franklin • Coworking, News, Property

Demand for flexible office space in Paris is almost double the global average, according to a report by Instant Offices. With demand for office space on the rise in Paris, serviced offices have seen a 26 percent increase while hybrid space has seen a 23 percent increase. While the city ranks fourth globally by the size of supply, Paris is considered to be one of the largest flexible office markets in Europe and ranks among the top 10 best start-up cities in the world. Alongside New York, San Francisco and London, Paris also remains one of the most expensive places to rent a desk. Despite this, demand in the city is on the rise as more large businesses choose flexible offices over conventional leases. More →

June 26, 2019

WeWork completes largest office deal in Birmingham this year

by Mark Eltringham • News, Property

WeWork has agreed a deal to take over all seven floors of Six Brindleyplace in Birmingham. The deal is the coworking provider’s third in the City this month alone, following deals for 55 Colmore Row and Louisa Ryland House, both in the Colmore Business District in the city centre. The deal for the 97,000 sq. ft. of Six Brindleyplace is believed to be the largest office deal in Birmingham so far this year, bringing its total offering in the city to 200,000 sq. ft. More →

June 25, 2019

Surge in demand for London office space

by Neil Franklin • News, Property

May 2019 saw a total of 13.3m sq ft of London office space under construction across 98 developments. 60 percent of this space has already been let or is under offer, the highest level to be achieved in over 15 years. This is according to new data from real estate advisor CBRE. Take-up of office space rose above the 10-year average in May 2019, increasing to 1.2m sq ft. There were eighty transactions, of which twelve were greater than 20,000 sq ft in size. The largest deal of the month saw the European Bank for Reconstruction & Development take 358,700 sq ft at Five Bank Street (pictured). More →

June 21, 2019

Flexible office revolution shows no signs of slowing

by Neil Franklin • News, Property, Workplace design

The latest research from JLL, Disruption or distraction, where next for the UK flex market sector, claims that the real revolution of flexible office space lies in the variety of solutions now on offer and that the market has seen more changes over the last three years than the previous 30 combined as it continues to grow and evolve. JLL’s research claims that over the next five years more than 10m sq ft will be added to the stock in the key UK cities and flex space will account for over 8.5 percent of the total office stock by 2023. More →