May 21, 2019

London office building at post Brexit high

New office building in central London is at a three-year high, with 13.2 million square feet of space under construction, up 12 percent on the figure six months ago, according to the Deloitte Real Estate’s London Office Crane Survey. Some 55 percent of the office space under construction was already let and for larger schemes of over 100,000 square feet, more than three quarters was already committed to, Deloitte said. The survey covers seven major central London office markets – The City, West End, Docklands, King’s Cross, Midtown, Paddington, Southbank – as well as three emerging submarkets – Vauxhall-Nine Elms-Battersea, White City and Stratford. (more…)

May 21, 2019

CRE investment highest in cities with strong tech culture

by Marie Hillen • Cities, News, Property, Technology

Cities with tech innovation-oriented cultures have a strong competitive advantage amongst those investing in commercial real estate, claims a new report from JLL (registration). Of 109 cities analysed, the nine leading global markets – Boston, London, New York, Paris, San Francisco, Seattle, San Jose, Sydney and Tokyo, accounted for around 37 percent of total annual real estate investment volumes over the past decade. Like real estate investors, corporate occupiers also search for locations that have advanced innovation ecosystems, the report suggests. These cities sustain highly skilled workforces and are best placed to succeed in the future.

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May 16, 2019

Working from home and the future of work. How quaint ⁰

by Mark Eltringham • Comment, Flexible working, Property, Technology

In 1962, a professor of communication studies called Everett Rogers came up with the principle we call diffusion of innovation. It’s a familiar enough notion, widely taught and works by plotting the adoption of new ideas and products over time as a bell curve, before categorising groups of people along its length as innovators, early adopters, early majority, late majority, and laggards. It’s a principle bound up with human capital theory and so its influence has endured for over 50 years, albeit in a form compressed by our accelerated proliferation of ideas. It may be useful, but it lacks a third dimension in the modern era. That is, a way of describing the numbers of people who are in one category but think they are in another.

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May 13, 2019

Belfast office market outpacing others in UK and Europe

by Mark Eltringham • News, Property

The Belfast office market is one of the UK’s best performing when it comes to returns for investors, significantly outstripping cities such as Manchester, Liverpool, Glasgow, Cardiff and London, a new property report claims. The Northern Ireland Commercial Property Investment Review (registration), produced by Ulster University and global financial company MSCI in collaboration with RICS commercial property firms, benchmarked the Northern Ireland and Belfast market against their UK and European peers. (more…)

May 9, 2019

Property investors cool on issue of climate change

by Mark Eltringham • Environment, News, Property

According to a RICS global survey of Commercial and Construction market professionals, in the UK, 47 percent of respondents reported that climate change risks are not important or irrelevant for investors. In addition, while 25 percent reported that there is more interest in energy efficient buildings than two years ago, 37 percent noted that investment into energy efficient buildings was limited to niche investors. The study concludes that it still appears that other considerations take precedence in the UK for investors, and the UK is lagging behind China and Hong Kong in this area, where 41 percent reported that energy efficient buildings are increasingly seen as an attractive form of investment. The issue of responsible investment, will be being discussed on the 13 and 14 May at the RICS World Built Environment Forum, Summit in New York. (more…)

May 3, 2019

Take up of office space in central London strongest for six years

by Marie Hillen • Cities, Facilities management, News, Property

The first quarter of 2019 saw take-up of office space in central London at its strongest for six years, as it continues to outperform expectations. This is according to Savills, which also reports 1.16 million sq ft of new lettings being agreed in the City of London. In the West End, 42 transactions completed in March alone took total activity for Q1 2019 to 98 office lettings. In the City, there were 100 occupational deals for the year to date, of which 33 completed in March. The tech & media sector accounted for the largest share of take-up in the West End, at 25 percent, while the City benefited from a surge of serviced offices.

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May 1, 2019

The impact of technology, cyber-risk and the future of corporate real estate ⁰

by Kate Langan • Features, Property, Technology, Work&Place, Workplace design

It’s no surprise to say that technology is having a significant impact on the workplace and the use of corporate real estate. The fast pace of change has seen technology impact all aspects of business, government and culture, as well as personal life, with a constant flow of new innovations and solutions helping us to do things more quickly and efficiently. Equally, technology also provides a challenge to business and, more specifically, corporate operations, with a whole array of disruptive technologies.

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May 1, 2019

“First ever” dedicated UK India tech hub opens at Royal Albert Dock London

by Neil Franklin • News, Property, Technology

A newly delivered building at Royal Albert Dock (RAD) in London has been launched as the UK India Tech Hub to provide a designated space for technology firms from India and the UK. It is claimed to be the first venture capital fund that has partnered with a business district to create a tech hub anywhere the world. Under the partnership agreement, developer ABP London and investors Pontaq will provide technology firms with work space while Pontaq’s tech fund will be invested in tech start-ups to assist them to develop and expand. India High Commissioner, Ruchi Ghanashyam, and Under Secretary of State at the Department for International Trade, Graham Stuart MP, along with Mayor of Newham Rokhsana Fiaz, witnessed the signing of an agreement between Royal Albert Dock developer ABP London and the venture capital firm Pontaq. (more…)

April 30, 2019

Best workplaces in London honoured at BCO annual Regional Awards

by Mark Eltringham • News, Property, Workplace design

Six London businesses celebrated success at the BCO Annual Regional Awards earlier today, with Facebook, 2TVC, Deloitte, Boden, Project North and Fora Borough all recognised as the capital’s best workplaces. The prestigious BCO Awards programme recognises the highest quality developments in the UK and sets the standard for excellence in the regional and national office sector. Today’s ceremony marked the third of the BCO Regional Property Awards dedicated to London, celebrating the best office space in the country. London winners will compete with those from other regions at the BCO National Awards in October this year.

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April 25, 2019

MPs to investigate impact of placemaking and built environment on productivity

by Mark Eltringham • Cities, News, Property, Workplace design

The All Party Parliamentary Group on Building Communities is calling for evidence and contributions from all organisations with an interest in the built and natural environment to contribute to its new consultation, which aims to explore how placemaking can lead to greater productivity in the UK. As part of its remit, the APPG seeks to conduct research on the concept of ‘placemaking’ and investigate design practices that maximise the social value of infrastructure. In this way the APPG hopes to build an evidence base that can be used by policy makers when engaging with the build and natural environment.

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April 24, 2019

The meteor strike of coworking and the beasts that will remain

by Mark Eltringham • Comment, Flexible working, Property, Workplace design

The concept of coworking has only been with us for a short time, but there are already signs that it is evolving into something rather different. The most common misperception about the way evolution works is that it is based on some steady progression, driven by the merciless principle of survival of the fittest, with the best adapted climbing towards the top of an evolutionary tree. This gives rise to one of the most common questions posed by sceptics: if we evolved from apes, why are there still apes?

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April 23, 2019

Plans approved for “the biggest regeneration scheme in the UK”

by Neil Franklin • News, Property

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…)