June 8, 2018
June 7, 2018
The vast majority of property professionals in the UK now regard proptech as an opportunity rather than a threat, new research has found. However, a majority also remain sceptical about their own organisations’ progress on adopting new technology. Those are the key findings of a survey of more than 300 property professionals carried out by Trident Building Consultancy, in association with RICS, GoReport and Teesside University.
May 29, 2018
IPSE, the Association of Independent Professionals and the Self-Employed, has announced the 12 longlisted finalists for the 2018 Coworking Space of the Year award. The award has been launched to recognise the role coworking spaces play in ‘creating a nurturing, inclusive and stimulating environment for the UK’s thriving 4.8 million-strong self-employed workforce;. The venues were judged on a range of criteria including the quality of facilities and staff, the innovation, creativity and distinctiveness of their venue, the passion and commitment to their members and the freelancing community, and the price and value of its membership packages. Intriguingly, only one is in London.
May 29, 2018
Demand for commercial office space in central London has remained above the long-term average, with the amount of space under offer increasing, though the level of supply in the West End has continued to decline, according to the latest figures from Savills. Take-up in April reached 275,473 sq ft across 24 transactions, bringing take-up for the first four months of the year to 1.3m sq ft. The volume of transactions to complete over the month was the lowest for April in five years but overall year-to-date take-up still remained up on the long-term average for this period by 13 percent. More →
May 18, 2018
Central London commercial offices under offers are at the highest point in the last 12 months and take-up is ahead of 2017 levels compared with this point last year, new data from CBRE has shown. Central London office take-up for April 2018 stood at 547,900 sq ft, largely driven by pre-letting activity. Office take-up for the year to the end April 2018 was 4 percent higher than the corresponding period in 2017, standing at 3.4m sq ft. Take-up was boosted by 139,600 sq ft of pre-letting activity. Over the last 12 months, the business services sector has represented the largest proportion of take-up at 32 percent, driven by a large number of deals to flexible office providers. Take-up in April was dominated by the creative industries sector, accounting for 44 percent of take-up. The banking and finance sector (26 percent) and the business services sector (21 percent) also represented notable proportions of take-up in April.
May 14, 2018
Manchester Science Partnerships (MSP) has opened its new £2m tech incubator which it hopes will help create up to 2,000 jobs in data science and technology innovation companies over the next decade. Reflecting the ambitions of the updated Greater Manchester strategy to build on the city region’s strengths in technology and digital innovation, the incubator will provide start-ups with a wide package of business support services including: access to finance, talent and markets advice. Manchester is already a European top 20 digital city and this new incubator is designed play a role in strengthening the city’s status as a location for technology businesses over the coming years.
May 10, 2018
Hubble, an office and coworking marketplace, has published new data which it claims shows that tech startups and other growing SMEs in London are leaving the capital’s best known tech hotspots, including Shoreditch and Soho, for south of the river. Hubble’s search data suggests that London Bridge (29 percent of all searches) is the most popular location in London for companies searching for flexible office space in 2018 (a sharp rise from 3.7 percent of searches in 2017), beating Shoreditch with 27 percent of all searches. More than 37 percent of searches were for office space in south London, counting London Bridge and the Southbank (8.5 percent). Startups and SMEs are branching out to different creative “hub-spots” within London, but most prominently is an unprecedented shift to south of the river. Searches for London Bridge specifically make up 29 percent of all searches and the Southbank, as a whole, making up 37.5 percent of all search queries.
May 8, 2018
Manchester based businesses dominated the annual British Council for Offices (BCO) regional property sector awards dinner held in Manchester at the end of last week. Shoosmiths LLP, Hilson Moran, Neo and The Bright Building all being recognised as some of the best workplaces in the North of England. Other workplaces across the North of England that also received recognition were Number One Kirkstall Forge, Leeds (Winner, Best Commercial Workplace, Waterfront Point, Widnes (Winner, Best Corporate Workspace and Albert Works, Sheffield (Winner, Best Projects up to 1,500 m2)
April 30, 2018
Commercial property lending in the UK surged at the end of last year, according to the latest figures from Cass Business School. New commercial property lending overall reached £44.5bn for the whole year, equalling figures for the previous year. Commercial lending had dropped by 24 per cent in the first half of the year, however, the second half of 2017 was much busier, adding another £26.8bn in new lending. The total value of loan books identified by the CASS research increased by four per cent to £199bn by the end of the year, including both drawn and undrawn amounts. The research from Cass showed that non-bank lenders were actually the most active group, increasing their market share of new loans to 14 per cent from 10 per cent a year earlier. In total, they wrote £6bn of new loans of which 60 per cent was sourced from insurance and pension funds
April 25, 2018
Major metropolitan office markets across the globe are seeing a significant increase in the adoption of green building certification programmes, according to the inaugural International Green Building Adoption Index (IGBAI) – a study by CBRE and Maastricht University. The study reports that 18.6 percent of space in 10 markets across Australia, Canada and Europe is now certified green versus just 6.4 percent in 2007. Canadian cities set the pace, with 51.6 percent of the space in Vancouver (pictured) and 51.0 percent in Toronto holding green certifications. This is particularly notable for Vancouver, as the city has a formal initiative and action plan – “Greenest City 2020” – toward becoming the greenest city in the world by 2020. In Vancouver and Toronto, green buildings trends will continue to drive both new development and redevelopment of office product. In Vancouver, more than half of the 1.5 million-square feet of product under development is being built to high green certification standards, while much of Toronto’s existing class A product is undergoing intensive capital improvement projects that include upgrades aimed at earning green certifications as well.
April 23, 2018
The International WELL Building Institute (IWBI) claims that its WELL Building Standard has now been adopted in more than 780 projects worldwide, covering 147 million square feet of real estate in 32 countries. In Europe more than 170 projects across 13 countries are applying WELL, representing a quarter of of global project square footage. According to the Institute, the growth over the past year has been led by early adopter markets, notably France, United Kingdom, and the Netherlands – as well as new expansion in Poland, Sweden and Ireland. Finland, Germany, Hungary and Italy, which registered their first projects in 2017. Nearly 300 industry professionals in Europe have now passed the WELL Accredited Professional exam.
April 20, 2018
Five businesses celebrated success last night, with Bloomberg, White Collar Factory, Havas UK, Here East and 10 Lower James Street all recognised as some of the best workplaces in London at the British Council for Offices’ (BCO) regional awards. The BCO’s awards programme claims to recognise the highest quality workplaces and sets the standard for excellence across the regional and national office sectors.
