February 4, 2014

Oil and gas firm moves in as regeneration of London’s Victoria area continues

The regeneration of London’s Victoria area continues with the news that Land Securities has let a further 18,000 sq ft at its 123 Victoria Street SW1 development. Oil and gas exploration company Ophir Energy PLC is relocating from its Mayfair headquarters to join existing tenants such as US software company Intuit, CDC Group, CPA Global and Jimmy Choo. This latest letting means 123 Victoria Street is now 93 per cent let with just 17,000 sq ft still available. Kaela Fenn-Smith, Head of Leasing at Land Securities, said: “We are delighted to welcome Ophir Energy to 123 Victoria Street. Their decision to move from Mayfair and choose Victoria as their new home reflects the area’s ever-increasing reputation as a vibrant destination for forward-thinking companies.” More →

January 31, 2014

Economic recovery may be constrained by lack of skills and office space

by Mark Eltringham • Property, Technology, Workplace

There are signs that the nascent recovery in the UK economy is already starting to put pressure on the availability of skilled employees and appropriate commercial property for the most rapidly growing sectors. While the Government has announced that the UK’s economy has been growing at its fastest rate since 2007, a new survey published by the UK Commission for Employment and Skills (UKCES ) has claimed that nearly a quarter of vacancies in the UK have gone unfilled because of a shortage of much-needed skills. At the same time, claims a new report from DTZ, demand for commercial property is strengthening with take-up growing across the country while the availability of Grade A office space is declining rapidly.

January 30, 2014

RICS global research charts ways for FMs to prove strategic worth

by Sara Bean • Facilities management, Knowledge, News, Property

Facilities managers across the globe need to prove the value of FM to board level directors and establish their role as a strategic and essential business function. A new global RICS Research report Raising the Bar: City Roundtables (Phase II), launched in Washington DC this week, calls for innovative new dimensions of measurement to prove FM’s effectiveness and its impact on productivity and profitability. Authored by Occupiers Journal Ltd, the report builds on findings from RICS’ 2012 research Raising the Bar: Enhancing the Strategic Role of Facilities Management (Phase I), which provided robust evidence for high-performing organisations to introduce FM as a strategic management discipline. The research also provided recommendations to support leading FM practitioners in becoming more strategic. More →

January 29, 2014

Green Building Council slams PM’s plans to slash environmental guidance

by Sara Bean • Environment, Facilities management, Legal news, Property

The UK Green Building Council has condemned Prime Minister David Cameron’s pledge to scrap realms of environmental guidance. In a speech to the Federation of Small Businesses earlier this week, the Prime Minister said that by March 2015 Defra will have slashed 80,000 pages of environmental guidance, saving businesses around £100 million per year; “to make it vastly easier and cheaper for businesses to meet environmental obligations.” However Paul King, Chief Executive at the UK Green Building Council, branded the move utterly reprehensible. He said: “The Prime Minister’s boasts of ‘slashing 80,000 pages’ of environmental guidance is. It is the same poisonous political rhetoric from Number 10, devaluing environmental regulation in a slash and burn manner. These words are not only damaging and irresponsible, but misrepresent the wishes of so many modern businesses, both large and small.” More →

January 28, 2014

International serviced office provider in first single floor letting for ‘Cheesegrater’

by Sara Bean • Company news, News, Property

British Land and Oxford Properties have announced the Leadenhall Building in the City of London – known as the ‘Cheesegrater’ due to its distinctive tapered profile – has been let to serviced office business Servcorp. The Sydney-based firm already provides businesses with flexible space in some of the world’s most famous buildings, including The Seagram Building, Park Avenue, New York, IFC 2 Hong Kong, Trust Tower Marunouchi, Tokyo and Emirates Towers, Dubai. This, the first single floor letting in the building, is on the 30th floor, which provides 11,851 sq ft of space. Because of the building’s design, floorplates range from 21,000 sq ft on level 5 to 6,200 sq ft on the top floor (level 45). More →

January 27, 2014

Cities report highlights skewed nature of UK economic recovery

by Mark Eltringham • News, Property

The Centre for Cities has today published its seventh annual report into the economic conditions in the 64 largest urban areas in the UK. The Cities_Outlook_2014 report paints a picture of a patchy economic recovery across the UK, with many cities such as Edinburgh, Birmingham, Manchester, Nottingham, Liverpool and Leeds seeing an upturn in their economies, but one that lags significantly behind that of London. The capital continues to disproportionately attract investment and people from across the UK and overseas, sometimes to the detriment of other towns and cities. The report argues that more power and finding needs to be devolved away from London to ensure that the UK enjoys a sustainable and balanced economic recovery.

January 24, 2014

Fewer projects put on hold as construction sector recovery continues

by Sara Bean • News, Property

In the week the ONS announced the UK unemployment rate has dropped to 7.1 per cent, comes more evidence of the recovery from the built environment. Figures released by construction industry analysts Glenigan have revealed that the value of UK projects put on hold during 2013 was the lowest since the start of the recession in 2008. In total, £12 billion of potential projects were put on hold last year, compared to £47 billion in 2012 and a peak of £80 billion in 2009. According to Glenigan economist Tom Crane, the value of stalled projects have been falling since 2009, but the latest figure shows the continuation of an encouraging trend, with a 16 per cent fall in the value of underlying projects. More →

January 23, 2014

UK commercial property investment in 2013 hits a six year high

by Mark Eltringham • News, Property

Last year marked a six year high in commercial property investment across the UK according to a new report from property information providers CoStar, driven by increases in regional markets and a sharp upturn of interest in Central London from overseas investors. A total of £52.7 billion of transactions was completed across the UK in 2013, albeit that two-thirds of investments were made in London and the South East of England. It was also a year for record breaking deals, notably the Broadgate office development in the City (above) and More London on the South Bank, each of which were valued at £1.7 billion. London was particularly attractive for Asian investors who CoStar claim see it as a safe haven and invested £9.2bn, up 80.6 percent on 2012.

January 22, 2014

Land Securities to submit application for solution to Walkie Talkie solar glare problem

by Sara Bean • Company news, Facilities management, Property

Land Securities has confirmed it will submit a planning application next month for the solution to the solar glare problem at the ‘Walkie Talkie.’ Last year the skyscraper at 20 Fenchurch EC3 was dubbed the ‘Walkie Scorchie’, after it was found its unusual design was reflecting and magnifying the sun’s rays, which were melting parts of vehicles parked in nearby streets. According to the developer, despite its problems, the building is now 64 per cent pre-let, with a further 23 per cent in solicitors’ hands, and just 42,700 sq feet of space remaining. Land Securities has also announced, that due to increased demand for London office space it is to launch two new central London developments. More →

January 22, 2014

Plans submitted for 19 storey tower in Manchester business district

by Mark Eltringham • News, Property

Developers have submitted plans for the development of a new tower on the site of an existing office building in Manchester city centre. Allied London is looking to create a new 19 storey office in Spinningfields, the city’s troubled £1.5 billion business district which ran into development problems at the height of the recession between 2007 and 2010. The new building a will offer over 340,000 sq. ft. of office space and is designed by Ian Simpson Architects who were responsible for the design of the Beetham Tower. The ground floor is also likely to incorporate retail outlets, cafes and restaurants. A final decision on the application from the local authority is due in April. Quay House, the current building on the site, is argued by the developer to be under-occupied and outdated.

January 20, 2014

Largest single office floor plate unveiled in Leeds as demand for space increases

by Sara Bean • Company news, News, Property

The largest single office floor plate currently available in Leeds city centre has been unveiled, following the completion of a £1million refurbishment programme at one of the city’s landmark office schemes. The NFU Mutual insurance firm, which owns No 1 Whitehall Riverside, has refurbished 34,000 sq ft of space within the building to transform the 4th and 5th floors. In a first for the Leeds office market, 100 per cent LED lighting has been installed on both floors, to provide low maintenance, good quality lighting which will reduce CO2 emissions for future occupiers. Joint letting agents Jones Lang LaSalle and DTZ say that the building, which provides 127,731 sq ft of office accommodation over eight floors, helps to meet increasing demand for quality office space in the centre of Leeds. More →

January 16, 2014

BIM learning opportunities expand in new RICS and Salford University agreement

by Sara Bean • Architecture, Facilities management, News, Property, Technology

A distance learning version of a Certificate in BIM Implementation and Management, available online to professionals across the world is being offered by the University of Salford’s School of the Built Environment. The Certificate is designed to offer those working within the built environment the fundamental knowledge and understanding of BIM principles, terminologies, tools and techniques, including the technology, process and people needs for the successful adoption of BIM on construction projects. A range of new Continuous Professional Development programmes have been agreed with the Royal Institution of Chartered Surveyors (RICS), which includes a one-day Introduction to BIM Implementation and Management and a five-day Certificate in BIM Implementation and Management. More →