Scale AI announces plans for new European headquarters in London

Scale AI announces plans for new European headquarters in London

by • AI, News, Property, Technology

 

Scale AI has selected London as the location for its first European headquarters, reinforcing the company’s mission to accelerate the development of AI globallyScale AI has selected London as the location for its first European headquarters, reinforcing the company’s mission to accelerate the development of AI globally. Scale’s United Kingdom (UK) office will serve as the centre of its operations in Europe. The firm is an artificial intelligence company headquartered in San Francisco in the US State of California. The company provides labelled data used to train AI applications. The firm was founded in 2016 by Alexandr Wang and Lucy Guo who had previously worked at Quora. (more…)

Oxford rents poised to surge as office and lab space dwindles

Oxford rents poised to surge as office and lab space dwindles

by • News, Property

Oxford’s thriving science and technology sector is facing a potential hurdle: a critical shortage of office and laboratory space. According to a new report by property consultancy Vail Williams, this scarcity could send rents spiralling upwards in the coming year. The report paints a concerning picture. The city, it suggests, has just about enough Grade A office and lab space to meet demand from life sciences and biotech companies for the next year. This limited supply is a stark contrast to the high demand, particularly considering the strong take-up figures from last year, which saw around 420,000 square feet of lab space leased. (more…)

Commercial real estate lending hits ten year low

Commercial real estate lending hits ten year low

by • News, Property

New lending for commercial real estate fell 33 per cent last year to its lowest level since 2013, according to the latest bi-annual report from Bayes Business School, (formerly Cass). Researched and written by Dr Nicole Lux, Senior Research Fellow at Bayes Business School, City, University of London, the report also shows that a significant portion (42 per cent) of the £170 billion of loans outstanding will have to be refinanced within 12 months. Dr Lux expects that will cause ongoing stress in the market. (more…)

BCO London Awards winners focus on sustainability, wellbeing and user-friendliness

BCO London Awards winners focus on sustainability, wellbeing and user-friendliness

by • News, Property, Workplace design

The British Council for Offices Awards for London have gone to seven office buildings across the city. Held at the Park Plaza hotel, the BCO’s annual London Awards Lunch recognised projects that demonstrate best practice in office design, fit-out, operation and sustainability, setting the standard for excellence across the sector. (more…)

Tentative signs of recovery in UK commercial property market, says the RICS

Tentative signs of recovery in UK commercial property market, says the RICS

by • News, Property

The 2024 RICS first quarter monitor for the UK commercial property market indicates tentative signs that the market is moving into a recovery phase, though there is still ample evidence that there remains a challenging backdrop. Higher borrowing rates are holding back investments along with other structural headwinds such as a weak economy, online shopping, working from home (WFH) and environmental concerns. (more…)

European commercial real estate market stumbles in 2024

European commercial real estate market stumbles in 2024

by • News, Property

Dreams of a swift recovery in Europe's commercial real estate market have been dashed as the first quarter of 2024 witnessed a continued slump, marking the seventh consecutive quarter of decline according to new dataDreams of a swift recovery in Europe’s commercial real estate market have been dashed as the first quarter of 2024 witnessed a continued slump, marking the seventh consecutive quarter of decline. That is according to data released by MSCI Real Assets which paints a concerning picture, with completed commercial property transactions reaching a mere €34.5 billion in the first three months – a 26 percent drop compared to the same period in 2023. This translates to the lowest transaction volume since the third quarter of 2010, with the number of companies buying and selling properties also hitting a 12-year low. (more…)

Event explores how the government is setting new office standards for civil servants

Event explores how the government is setting new office standards for civil servants

by • Company news, Facilities management, Property, Workplace design

At a recent event, the Government Property Agency brought together Civil Service leaders to exchange ideas, debate trends and inform how the GPA delivers its property services. The GPA is leading one of the country’s biggest and most ambitious workplace renewal programmes for its clients – delivering a smaller, better connected, better quality, and greener property estate to support the work of Civil Service teams and bring them closer to the communities they serve. (more…)

Office rent, costs and utilisation rates rise as firms focus on prime space

Office rent, costs and utilisation rates rise as firms focus on prime space

by • News, Property

Prime office rents in major cities around the world have risen 1.1 percent in the past year (Q1 2023 to Q1 2024) while tenants’ ‘all-in’ net effective costs (rent plus fit-out costs) have risen 2.4 percent, according to Savills, as the structural trend towards seeking high quality premium office space continues into 2024. (more…)

Don’t worry, be ‘appy. IN Magazine issue 20 is here for you

Don’t worry, be ‘appy. IN Magazine issue 20 is here for you

by • Environment, Facilities management, IN Magazine, News, Premium Content, Property, Technology, Workplace design

The new digital edition of IN Magazine is now available to read online.The new digital edition of IN Magazine is now available to read online. In this issue: reviews of both MIPIM and the Workspace Design Show; a reappraisal of scientific management; what the new generation of workplace apps tell us about how we work; a case study that prompts the question of why office designers don’t make more use of reused products; the road to hell is paved with bad information; Domino Risch on the workplace’s Kodak moment; why facilities managers are the goalkeepers of the workplace; the final word on self-awareness; and much more.  (more…)

West End gateway for Leeds takes shape with green light for McLaren’s mixed use neighbourhood

West End gateway for Leeds takes shape with green light for McLaren’s mixed use neighbourhood

by • Company news, Property

Leeds City Council has McLaren’s mixed use Wellington Square development of build-to-rent homes and commercial space in Leeds’ West End. The new neighbourhood, designed by Howells Architects, will transform a 2.47 acre site into a lively gateway to Leeds city centre with a landmark tower, high-quality new homes and innovative workspace in the city’s professional core and Innovation Arc, which establishes the area as a hub for research and innovation. (more…)

MIPIM has changed, and mostly for the better

MIPIM has changed, and mostly for the better

by • Environment, Features, Property

With an estimated 27,000 delegates from 90 countries, MIPIM is still a force to be reckoned with when it comes to opportunities to network and learnWith an estimated 27,000 delegates from 90 countries, MIPIM is still a force to be reckoned with when it comes to opportunities to network and learn as delegates, with organisations using the week to deliver news, insights and thinking. The theme for MIPIM this year was The Global Urban Community; and it really did feel more international than previous years, the majority of attendees are still from France, Germany and the UK, but there were significant delegations from the United States, Canada, Oman, Egypt and Hong Kong, more from Asia generally and a show stopper from Saudi Arabia, more of which later. (more…)

Microsoft announces new London AI research hub

Microsoft announces new London AI research hub

by • AI, News, Property, Technology

Microsoft AI is opening a new AI hub in Central London. The firm claims that the new Paddington based centre, dubbed Microsoft AI London will ‘drive pioneering work to advance state-of-the-art language models and their supporting infrastructure, and to create world-class tooling for foundation models’, collaborating closely with AI teams across Microsoft and with its partners, including OpenAI.  (more…)

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