September 30, 2014

Occupiers’ expansion plans fuel demand for Central London office space

by Sara Bean • Facilities management, News, Property

Amazon to move to Foster & Partners’ designed development Principal Place

The already intense levels of competition for prime Central London office space look set to increase. New data by JLL reports that leasing figures in the Central London office market are set to top those reached in 2013, with City lettings showing potential to reach over 7 million sq ft for the second year in a row and the West End on track for 3.3 million sq ft by the close of 2014. Strong take-up in these markets, combined with a resurged market in the Docklands, will see Central London take-up figures on track to exceed last year’s total of 11 million sq ft. While consolidation and lease expiries have been main drivers up to now, a buoyant economy means occupiers expansion plans are bringing new requirements to the market. Amazon’s recent decision to take a 400,000 sq ft pre-let at mixed-used development Principal Place at Shoreditch, is an early example of this and it’s expected more occupiers will follow suit.

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September 26, 2014

RICS Scotland officially opens its new Edinburgh offices

by Sara Bean • Facilities management, News, Property

RICS new Scottish headquarters were officially opened this week at Edinburgh’s iconic Princes Street by Minister for Local Government and Planning, Derek Mackay, MSP. The new, state of the art offices, located at 125 Princes Street, will also host Planning Aid Scotland, Built Environment Forum Scotland and the Scottish Arbitration Centre, with the idea being to create collaborative built environment hub in the heart of Scotland’s capital city. Explained Sarah Speirs, Director RICS Scotland: “Throughout this process we have been very keen to recognise and utilise the professional skills and expertise of our members, including the talents of our building surveying members, who we have now been working on the design and fit out of our transformational space at 125 Princes Street for the past couple of months.” The new open plan offices, which benefit from views of Princes Street Gardens and Edinburgh Castle were designed using BIM technology as a best practice example for the sector. (more…)

September 25, 2014

New letting strengthens Cambridge’s growing reputation as a centre of technology

by Sara Bean • Company news, News, Property, Technology

In the largest office letting in Cambridge in over a decade, technology developer CSR plc has agreed with The Crown Estate to establish an expanded, 100,000 sq. ft. global HQ at Cambridge Business Park. Further lettings of a combined 11,000 sq. ft., to the multi-national computer technology company, Oracle, and to JDR Cable Systems, means that the 320,000 sq. ft. Business Park is now fully let, with over 2,000 people set to be working on site once these tenants move in. These latest lettings underline Cambridge’s growing reputation as a centre of technology – where its success this sector has even led to it being referred to as the “Silicon Fen”, the UK’s equivalent of California’s Silicon Valley. (more…)

September 25, 2014

Dubai unveils plans for sustainable ‘Perfect City’ real estate hub

by Mark Eltringham • Cities, Environment, News, Property

Undeterred by the seriously stuttering start to existence of Masdar City in Abu Dhabi, the government of Dubai (but of course) has announced plans for what it claims will be the first specialised sustainable city in the world. The plans for the characteristically modestly named ‘Perfect City’ were unveiled this week at the Cityscape 2014 trade show in Dubai and form one of the centrepiece projects of a seven year programme of development masterminded by Dubai Land Development (DLD). Work begins on the project begins next year and is expected to complete in 2021. As with Dubai Media City and Dubai Internet City the idea is to create a sustainable hub for a particular industry, in this case real estate. The plans include a canal, 20,000 trees and the provision that 75 percent of the City will be made up of green space.

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September 22, 2014

Much anticipated BCO Specification Guide update for 2014 launched

by Mark Eltringham • Architecture, Facilities management, Knowledge, Property, Workplace design

The British Council for Offices (BCO) has launched the much awaited new edition of its Specification Guide. Last updated in 2009, the 2014 issue aims to cement the publication’s position as the ‘definitive guide to office development in the UK’. As well as its traditional subjects of occupier density and building infrastructure and services, the latest edition covers topics such as building information modelling (BIM) rights to light, updates to BREEAM and amended planning law and building regulations as well as topical issues such as the inexorable rise of the ‘coffee shop workplace’ and the provision of cycle parks. Richard Kauntze, chief executive, claims the revised BCO Specification Guide represents a greater focus on the needs of end users.

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September 19, 2014

England’s local authorities acting like property developers, claims report

by Mark Eltringham • Knowledge, News, Property, Public Sector

England’s local authorities are responding to the country’s ongoing austerity measures by behaving more like property developers as they seek to redevelop property and land valued at £13.5 billion by 2019, according to a new report from local government think tank Localis in conjunction with developer Cathedral Group. Rather than simply selling off assets, the research claims that councils are increasingly looking to develop property to provide them with revenue streams as a way of shoring up their shrinking budgets. The report claims that the proportion of projects slated for redevelopment is currently a third of all disposals but will make up the majority in five years time. The report has received cross party support and links to other high profile public sector initiatives, especially the One Public Sector Estate scheme. The Cabinet Office recently reported that the UK public sector estate had shrunk by 2 m. sq. ft. since 2010.

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September 17, 2014

Avanta Serviced Office Group to open Shoreditch business centre at heart of ‘Tech City’

by Mark Eltringham • News, Property

Avanta Serviced Office Group has signed a deal to establish a new business centre in the heart of London’s Tech City at The Eagle, a 27 storey art-deco-style development on City Road, EC1, from Mount Anvil – Central London’s specialist residential-led developer. The centre is set to open on the 1st March 2015. The new centre will provide over 26,000 square feet of flexible office space over two floors, with approximately 400 desks. Set within a mixed-use development comprising retail, affordable accommodation, offices and high-end residential, it is located within TFL’s Zone 1, approximately five minutes’ walk from Old Street Rail and Underground Station, just two stops from Kings Cross.bThis is Avanta’s first site within Tech City, also known as Silicon Roundabout, which is the third largest technology start-up cluster in the world and home to over 15,000 growing businesses.

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September 15, 2014

Key to successful BIM implementation is collaboration, says RICS

by Sara Bean • Architecture, Facilities management, News, Property, Public Sector

The need for collaboration between all the professions working within the built environment was the overriding theme of a free seminar on BIM, hosted by RICS last week, reports RICS’ Schemes and Accreditation Manager Jon Klahn. The event featured speakers from quantity surveying, engineering and architecture, and was designed to help delegates learn more about BIM and RICS’ role in establishing BIM industry standards. Addressing the 80 plus attendees, Dr Anne Kemp FRICS, Director of BIM Strategy and Development at Atkins and Chair of ICE’s BIM Action Group said the various professions can no longer be driven by self-interest. BIM in itself is not the solution. But the change required to make BIM successful will ultimately allow for better construction, better buildings and a better environment. Successful BIM implementation requires a partnership of people, process and technology and for project teams to understand and appreciate each other’s roles as professionals. (more…)

September 12, 2014

Rate of UK commercial property activity slows to weakest for 15 months

by Sara Bean • Facilities management, News, Property

The UK commercial property sector grew for the 24th consecutive month in August, but at its weakest rate since May 2013. According to the latest Total Commercial Development Activity Index from Savills, which monitors the overall performance of the UK commercial property sector, the rate fell from +27.7% to +11.9% in August, the weakest expansion in 15 months. Commercial work continued to rise in the private and public sectors however, and despite growth slowing substantially in both cases, commercial developers in the UK remained optimistic. Anecdotal evidence linked this to positive expectations of increased public sector activity and client interest in new projects. Although solid overall, the growth of refurbishment activity in August was the least pronounced since May 2013 and following 17 successive months of growth, panellists reported stagnation in office fit-out activity as well. (more…)

September 10, 2014

The latest issue of Insight is now available to view online

by Sara Bean • Facilities management, Newsletter, Property, Workplace design

In the latest edition of the Workplace Insight newsletter available to view online; Colin Watson argues the urban environment is an increasingly important part of the ‘virtual’ workplace; Nigel Sikora describes how we’re learning to strike a better balance between distraction and privacy, between noise and quiet; and Justin Miller bemoans a lack of balance in the way the media wants to expose ‘waste’ in public sector purchasing. In news, why London offers the best returns on office refurbishment of any city in the world; the publication of two reports from the UK’s National Audit Office alleging poor management and a low priority given to the country’s public sector procurement function and we report on a discussion document by the BIM2050 Group on the digital future of the built environment. We also include a link to the new issue of Work&Place, the journal we publish in partnership with Occupiers Journal.

September 8, 2014

Overdevelopment leads to bad building design, claim Carbuncle Cup judges

by Mark Eltringham • Architecture, News, Property

Building Design magazine has announced this year’s winners of its annual Carbuncle Cup competition, which aims to name and shame the UK’s ‘unforgivably bad’ buildings. As well as identifying problems with specific buildings, the judges also raised concerns about the catalysts for poor buildings, especially overdevelopment. The judges this year included Owen Luder, former president of the Royal Institute of British Architects, and Prince Charles’s architectural adviser, Hank Dittmar. While the main prize went to Tesco’s ‘inept, lumpen, arrogant and oppressive’ new supermarket in Woolwich in South East London, and the runners up prize went to the 50 storey residential Vauxhall Tower at St George’s Wharf, the most nominated building following the call for entries earlier this year was the Walkie Talkie skyscraper in London. However this office building was deemed ineligible because it is yet to complete. It now looks a shoe-in for next year’s prize however.

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September 4, 2014

London ranked the best city to invest in major office refurbishment

by Sara Bean • Facilities management, News, Property, Workplace design

London offers the best returns on office refurbishment of any city in the world, according to a new report from ARCACDIS. The firm’s survey of buildings more than 20 years old in thirteen cities found that returns on capital invested in major refurbs (which extend the life of the office by up to 20 years) in London were nearly ten percent, significantly higher than second placed Warsaw (7.5%) and Milan (6%). However, London was only ranked second for return on investment in minor office refurbishment, defined as a refurbs that aims to extend the life of the building by up to 5 years. Top place in this instance went to Madrid (9.6%), followed by London (8.5%) and Shanghai (7.9%). The least attractive market for office refurbishment was found to be Dubai, which the report claims is due to the large supply of new office space.