April 23, 2019
Outline plans to regenerate the 40-acre former Boots Island site in Nottingham have been approved by Nottingham City Council planning committee. Conygar Investment Company PLC intends to transform the site, which has lain derelict for many years, into grade A office space, “creative market space”, homes a five-star hotel, retail units, a “linear’ park” and community space and student accommodation. (more…)
April 17, 2019
Bristol has the lowest vacancy rate for Grade A offices amongst the UK’s leading Big 6 cities, reflecting strong demand combined with a shortage of high quality commercial space, according to new figures published by property consultants JLL. Although the city and region’s reputation for talent and innovation has so far countered the shortage of space, with inward investors citing access to a highly skilled, graduate workforce as one of the main reasons for relocation, JLL is warning that more needs to be done to ensure Bristol continues to attract investment. (more…)
April 15, 2019
Commercial property investment in Central London (the City and West End) rose to £3.2 billion in the first quarter of 2019, a 28 percent increase on the £2.5 billion invested in Q1 2018, according to new data from Savills. The firm also claims that investment volumes in Central London in Q1 2019 were also higher than those in Q1 2015 before the UK’s referendum to leave the EU, when they reached £3.14 billion.
April 12, 2019
The UK’s regional cities are competing harder than ever with London to become the location of choice for the tech sector. According to CBRE’s report ‘Tech Cities: Exploring tech hotspots in the UK regions’ Manchester ranks number one amongst the top 10 UK tech location outside of London, but Scotland features highly with Glasgow and Edinburgh in second and third position respectively. Birmingham has risen three places, from seventh to fourth position but smaller conurbations such as such as Reading, Oxford, Cambridge, Southampton, Brighton and Bracknell also feature, based on their concentrations of tech employment, tech businesses and high education levels. More cities are competing for the very top spots in the ranking
April 11, 2019
The Council on Tall Buildings and Urban Habitat (CTBUH) has announced the winners of the 17th Annual CTBUH Awards Program. These winning projects – comprising tall buildings, urban developments, and technical innovations – competed for winning distinctions at the 2019 Tall + Urban Innovation Conference from April 8–10 in Shenzhen. The CTBUH Awards Jury has named Salesforce Tower in San Francisco designed by Pelli Clarke Pelli as the “Best Tall Building Worldwide”, in addition to naming Category Winners across 20 award categories. (more…)
April 9, 2019
New guidance has been launched by the UK Green Building Council (UKGBC) to assist client organisations to include more ambitious circular design and construction best practices in project briefs for non-domestic projects. It addresses the commercial realities associated with making this practically happen and provides support and evidence to assist clients in setting clear strategies that ensure budget, project timescales and risks are all minimised and mitigated. The guidance may also be helpful for those in the supply chain looking to support construction clients on their journey towards specifying and practically applying circular economy principles.
April 5, 2019
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
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 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
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
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 5, 2019
Brexit, Brits and blending: what MIPIM told us about the state of corporate real estate
by Anna King • Comment, Property
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