April 5, 2019

Brexit, Brits and blending: what MIPIM told us about the state of corporate real estate

MIPIM celebrated its 30th anniversary during uncertain political and economic times, yet the mood was positive and even the backdrop of an impending Brexit decision failed to derail the UK contingent. However, the one thing missing from MIPIM in 2019 was British politicians. They were all back home, participating in decisive votes in the House of Commons as Parliament continued to kick the Brexit can down the road.

April 5, 2019

Still healthy demand for construction work on fit outs and office refurbishment

by Marie Hillen • Facilities management, News, Property, Public Sector

Although the new commercial development sector may be subdued, specialist contractors are seeing a continued demand for construction work on fit outs and office refurbishment. According to Glenigan the construction sector has been buoyed up by a series of major refurbishments of government offices while some large private sector groups are also investing to update and modernise their commercial space. More →

April 4, 2019

People, not cost now most important factor behind corporate real estate decisions

by Marie Hillen • Facilities management, News, Property

The corporate appetite for flexible space continues to grow as around two-thirds of occupiers rank employee engagement (68 percent) and talent attraction & development (65 percent) as two of the three most important drivers of corporate real estate (CRE) strategy. According to the 2019 EMEA Occupier Survey by CBRE over a third of companies see labour and skills shortages as a key strategic challenge, double last year’s result. In line with last year’s survey, technology disruption (36 percent) economic uncertainty (43 percent) and cost escalation (31 percent) all feature highly as key challenges for occupiers.

April 3, 2019

London, Paris and Stockholm lead ranks of European coworking hotspots

by Neil Franklin • Coworking, News, Property

London, Paris and Stockholm are among the major cities featured in a new research report from Cushman & Wakefield (registration) into the coworking and flexible office sectors, which pinpoints future demand and the next likely growth hotspots across Europe. According to the report, coworking’s rapid expansion in recent years has quickly disrupted global office markets. The report charts the current state of the sector, the emergence of flexible working space across continental Europe and where future growth will occur. More →

April 3, 2019

Government needs to sort Brexit deadlock as construction sector falls

by Neil Franklin • News, Property

The Government and Parliament must break the Brexit deadlock and find a way forward warns the Federation of Master Builders (FMB), in response to the latest Construction PMI data, which shows another drop in construction output. The March 2019 PMI data revealed an Index score of 49.7, up slightly from 49.5 in February, against the no change threshold of 50.0. This points to a sustained decline in construction output, representing the first back-to-back fall in construction output since 2016. While the residential building sector enjoyed an upturn, commercial construction was the worst performing area.

April 1, 2019

RICS’ new commercial property service charge rules come into effect today

by Marie Hillen • Facilities management, Legal news, News, Property

New service charge rules which aim to ensure there are no hidden costs and clarity around disputes, come in to force today (1 April 2019) and are mandatory for RICS professionals. ‘Service charges in commercial property’ has been developed with industry leaders, including major property organisations and professional bodies to secure transparent, upfront and fair costs for businesses as part of the maintenance and upkeep of their building. Amongst the rules, any charges incurred by the tenant must be explained fully at the outset and in accordance with the terms of the occupational lease, whilst any upkeep costs not specifically mentioned or explained in a lease must be made irrecoverable from the tenant.

April 1, 2019

Green Building Council releases guidance on social value for local authorities

by Neil Franklin • Environment, News, Property, Public Sector

The UK Green Building Council (UKGBC) has released its latest guidance document, detailing how local authorities can help ensure that new construction and property development in their area positively impacts people and communities by delivering social value. More →

March 27, 2019

New book on the future of work argues that the office is not just surviving, but thriving

by Sara Bean • Facilities management, Flexible working, News, Property, Workplace design

A new book from RIBA Publishing, which examines the future office, argues that despite predictions that the office is on the verge of extinction, it is not only surviving, but thriving. Digital technologies have spurred this transformation, and with it, the metamorphosis of our entire working environment. The office of today can vary from a sweeping open expanse of ergonomic, futuristic workstations, to a local coffee shop. Future Office: Next-Generation Workplace Design debates tradition, change, and the future of how we work and where.

March 25, 2019

London office market saw more investment than any other global city in 2018

by Sara Bean • Cities, News, Property

Alongside the uncertainty surrounding Brexit there have been many predictions that London will be particularly hard-hit by the economic fallout. However, a new analysis by savoystewart.co.uk of Knight Frank’s The London Report 2019 proposes London will continue to attract the interest of occupiers and investors alike. The research suggests that London saw greater volumes of commercial real estate investment than any other global city in 2018 – with over £16 billion of transactions. More →

March 12, 2019

Offices buck downward trend for UK commercial property market

by Neil Franklin • News, Property

Capital values across UK Commercial property fell by -0.3 percent in February 2019, according to the latest CBRE Monthly Index. Rental values fell by -0.1 percent and total returns were 0.2 percent. However, for the thirteenth consecutive month the Office sector recorded positive capital values, rental values and total returns. February 2019 recorded capital value growth of 0.1 percent and total returns of 0.5 percent. Rental values increased marginally by 0.1 percent. West End & Midtown offices were the only submarket to record a fall in capital values (-0.1 percent). Outside of London, UK offices pulled up the sector average with capital value growth of 0.2 percent in February.

March 8, 2019

RICS and CIBRE to publish new book on diversity in the real estate sector

by Sara Bean • Company news, Facilities management, News, Property, Workplace

RICS and CBRE have announced the publication of a new book: Managing Diversity and Inclusion in the Real Estate Sector, which will be launched at MIPIM 2019 in Cannes. Co-authored by real estate veterans, Amanda Clack, Head of Strategic Advisory at CBRE and Judith Gabler, Acting Managing Director, Europe for RICS, the book places diversity and inclusion (D&I) at the centre of successful real estate and construction organisations. The book provides guidance to, and most importantly actions for professionals in the sector who want to make D&I an inherent part of the culture of their organisation. The book aims to educate the real estate sector about what D&I entails and how a D&I strategy can be implemented to secure future success. It presents a practical and easy-to-read guide that can help organisations and their leaders engage with and apply this agenda to win the war for talent in real estate and construction. It seeks to be about action not words and help those in the sector #BeTheChange.

March 7, 2019

British Property Federation urges government to create coherent proptech strategy

by Neil Franklin • News, Property, Technology

The UK is well placed to capture the lead as a global hub for real estate technology and innovation a report from the British Property Federation claims. But the country needs to develop a joined-up proptech strategy and roadmap to remain competitive globally, according to the report published jointly by the British Property Federation and Liquid Real Estate Innovation. The LIQUID Report: Leading the Digital Transformation of Global Real Estate claims that the UK is already a leader in terms of its capacity for innovation, data infrastructure, market transparency and quality of education, but falls behind other countries in terms of venture capital investment and technology infrastructure.