Demand for sustainable buildings and tight regulations drive business case for investment

Demand for sustainable buildings and tight regulations drive business case for investment

by • Environment, News, Property

The current economic environment is creating challenges for investors and occupiers to make the case for investing in retrofitting and futureproofing their real estate. JLL’s new The Commercial Case for Making Buildings More Sustainable report outlines three key factors that should be prioritized in occupiers’ and owners’ decision-making to create a more resilient and sustainable built environment. More →

Unpicking the retrofit enigma

Unpicking the retrofit enigma

by • Briefing, News, Property, Workplace design

We explore many of the issues around the crucial subject of retrofit in this supplement produced in partnership with BVNEarlier this year, a report from building consultancy Mace advocated for a retrofit first principle for buildings. The report highlighted how non-domestic buildings in the UK make up about an eighth of the country’s building stock but account for around a quarter of the country’s carbon emissions. The solution argued for in the report was to look at how best to retrofit around 3.5 million such buildings over the next ten years. We explore many of the issues around this crucial subject in this supplement produced in partnership with BVN. It represents both a snapshot of the current conversations about retrofit while pointing a way ahead. This one will run and run, but we need to get it right. More →

No one shouted stop, although we all should have seen it coming

No one shouted stop, although we all should have seen it coming

by • Comment, Everything Omni, Facilities management, Property, Workplace design

And No One Shouted Stop! seems to me to be an apt phrase to capture these post- pandemic times as we grapple with work and workplace dilemmas. It comes from the little-known but widely acclaimed book of the same name by John Healy. It is set over 50 years ago and it chronicles the decline of an Irish town. The book’s underlying narrative is a train crash happening in slow motion, people see it coming but nobody feels able to stop it. I sincerely hope that this will not prove to be the case for the world of commercial real estate as it grapples with hordes of tenants asking not just ‘where is my office?’ But ‘why do I need an office?’ More →

The challenge for fit-out firms is to deliver best value despite supply chain challenges

The challenge for fit-out firms is to deliver best value despite supply chain challenges

by • Comment, Facilities management, Property, Workplace design

Whilst industry supply and demand dynamics may have found a level of equilibrium since the pandemic, geopolitical tensions, economic disruptions, and an unstable domestic policy environment continue to have an impact on the office fit-out marketThe past year has been a challenging one for London’s commercial fit-out market. Whilst industry supply and demand dynamics may have found a level of equilibrium since the pandemic, geopolitical tensions, economic disruptions, and an unstable domestic policy environment continue to have an impact. In tandem with this, the commercial fit-out market is adapting to changing needs; from accommodating hybrid working models to growing demands for sustainability and reuse, the workplaces of today are ever changing. More →

Prime office rents in London’s West End continue to rise in response to growing demand

Prime office rents in London’s West End continue to rise in response to growing demand

by • News, Property

BNP Paribas Real Estate has predicted that super prime office rents in London’s West End could hit £300 per sq ft by December 2024, as it says demand continues to outstrip the constrained supply of spaceBNP Paribas Real Estate has predicted that super prime office rents in London’s West End could hit £300 per sq ft by December 2024, as it says demand continues to outstrip the constrained supply of space. The prediction has been made on the basis of evidence shared by an expert at the firm. BNP Paribas Real Estate West End office agent Simon Knights claims that lettings could see rents for super prime office stock reach highs of “up to £300 per square foot by December 2024” as demand continues to outstrip constrained supply. More →

Real estate tech strategies advance AI, workplace and sustainability

Real estate tech strategies advance AI, workplace and sustainability

by • News, Property, Technology

Commercial real estate occupiers are willing to put their money where the tech is, according to new polling from JLL’s 2023 Global Real Estate Technology Survey. Ninety-one percent of occupier respondents are willing to pay a premium for tech-enabled space as they look to technology for strategic value and increased revenue. In fact, real estate tech budgets are set to grow faster than investments in?headcount, footprint and operating budgets, the report suggests.  More →

Bold Founder Caleb Parker to launch space-as-a-service Brave Corporation

Bold Founder Caleb Parker to launch space-as-a-service Brave Corporation

by • Company news, Property

The company says it will target and reposition assets in high demand markets with space-as-a-service led asset management strategiesCaleb Parker, the high profile Founder of Bold has announced the launch of Brave Corporation, a “next generation” real estate company that aims to “bridge the gap between office supply and demand to mitigate the rise of stranded assets amongst the world’s largest asset class”. Brave Corporation will work with investors to “reposition buildings to meet ESG standards and dynamic customer demand” before they risk becoming “stranded”. The company says it will target and reposition assets in high demand markets with space-as-a-service led asset management strategies. More →

London Real Estate Forum makes the right noises, but will be judged on action

London Real Estate Forum makes the right noises, but will be judged on action

by • Comment, Events, Property

This year’s London Real Estate Forum (LREF), held from 27-28 September at the Barbican, had a general air of optimism but tempered with the uncertainty of a general election in the next twelve months and elements of political and economic uncertainty globally.  The day began with a state of the market discussion chaired by dRMM’s Sadie Morgan, with challenges facing the industry identified as the current valuation of the office market, the rate of housebuilding and the government’s lack of investment in infrastructure – the event coinciding with the furore over the cancelling of the northern part of HS2. More →

The office needs to take on the characteristics of the city. Despina Katsikakis IN conversation

The office needs to take on the characteristics of the city. Despina Katsikakis IN conversation

by • Facilities management, Features, Property, Workplace design

Despina Katsikakis, the new President of the BCO has been shaping the way we think about offices for four decades

One of the unintended consequences of the era of online meetings is a chance to gain an insight into people’s actual lives. So it is that as Despina Katsikakis and I are talking, she spots my whippet Luna wandering into shot in the background and lets out an exclamation. She too has a whippet by her feet. And as a result, this abnormal, formal situation becomes a lot more normal and relaxed.   More →

Canary in the coal mine: other business districts are watching what happens next for Canary Wharf

Canary in the coal mine: other business districts are watching what happens next for Canary Wharf

by • Cities, Features, IN Magazine, Property

Already the symbol of a bygone era, Canary Wharf runs the risk of becoming a relic unless it reinvents itself. And others are watching The first casualties of the already cliched injunction to make offices worth the commute were always going to be the world’s most inaccessible business districts. In the UK the most high profile of these is Canary Wharf, 52 hectares of former wasteland in East London that became a financial powerhouse. Part of the regeneration of the area that began in the 1980s, it became synonymous with the era and with Margaret Thatcher and her reform of the financial services sector. This came to pass even though its most iconic structure One Canada Square was only completed in 1990, shortly after she had left office and shortly before its developer filed for bankruptcy. More →

BCO Awards dominated by South East offices yet again but Glasgow office takes top spot

BCO Awards dominated by South East offices yet again but Glasgow office takes top spot

by • News, Property, Workplace design

Barclays’ Glasgow campus was celebrated as the Best of the Best at the British Council for Offices BCO AwardsBarclays’ Glasgow campus (pictured) was celebrated as the Best of the Best at the British Council for Offices (BCO) National Awards last night, also taking home the prize for Corporate Workplace. Seven further winners of BCO Awards were recognised as leading examples of excellence in workplace design in the UK. There were no winners in any category in the Midlands or North of England, Northern Ireland or Wales, although two offices in Manchester and Widnes were commended and the President’s Award went to HMRC for its ongoing national estate management programme. More →

Act now on retrofitting if you want to boost commercial property values, new report argues

Act now on retrofitting if you want to boost commercial property values, new report argues

by • News, Property

For European real estate owners and investors already on a journey to net-zero-carbon through retrofitting, upfront spending has the potential for long-term rent and capital-value accumulation, according to a new report from Colliers. Europe’s Renovation Wave [registration] explores the regulatory and societal pressures the authors claim is now driving an era of accelerated asset renovation, and the proactive actions investors, owners and occupiers can take to make sure their assets are not ‘left behind and stranded’ in the race to decarbonise the built environment by 2050. Retrofitting is also the subject of a special supplement published in the new issue of IN Magazine. More →

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