February 24, 2014

London conference debates international office measurement standard

by Sara Bean • Facilities management, News, Property

The implementation of an international property measurement standard for offices (IPMS for Offices) moved forward last week when a group of leading professional bodies from across the world met at RICS’ HQ in London. The two-day meeting (20-21 Feb 2014) brought together representatives from many of the 31 member organisations of the International Property Measurement Standard Coalition (IPMSC), who discussed plans for the launch and implementation of IPMS across international real estate markets. A rise in cross-border property investment and expansion by global corporate occupiers has exposed the difficulties that can arise when dealing with differing national and local measurement practices. The first of its kind, IPMS seeks to standardise the way office space is measured around the world. More →

February 20, 2014

European cities vie to wear Tech Hub crown

by Mark Eltringham • News, Property, Technology

You may not realise it, but apparently there is a close fought race being run between European cities for the title of European Tech Hub. According to a new report from Colliers International the front runners are London, Berlin, Dublin, Paris, Amsterdam, Munich and, in a Eurovision-like extension of Europe’s borders, Tel Aviv. London is currently in pole position but Berlin and Dublin are hot on its heels as they vie for the title of Europe’s ‘Silicon Valley’, according to latest research from Colliers International, global real estate advisors. According to the report, London needs to stay on its toes if it is to fend off the upstarts from Germany and Ireland. Berlin, in particular, is expected to add some 100,000 jobs to its tech sector within the next seven years.

February 19, 2014

London’s West End retains position as world’s most expensive office location

by Mark Eltringham • News, Property

World’s most expensive location

For the second year running, the most expensive office space in the world is to be found in London’s West End, according to the latest edition of Cushman & Wakefield’s annual Office Space Across the World report. Rents rose by 5 percent in the area, driven largely by an ongoing mismatch between demand for high grade space and its supply, as we have previously reported. Worldwide, office rents rose by 3 percent in 2013, with certain high growth regions such as Africa and the Middle East experiencing an increase in rents of as much as 10 percent in specific locations. Hong Kong was the second most expensive location according to the survey while the central business district of Moscow rose to third place, up from sixth in the previous survey.

February 18, 2014

Innovative new work space planned for the home of Dave

by Sara Bean • Company news, Facilities management, Property

The media company which counts Dave, Yesterday and Gold amongst its ten channels has announced its intention to move its 250 staff from its Hammersmith Road location to a ground-breaking new London headquarters by July this year. UKTV has signed a lease for 32,500 sq. ft. of an ecologically-recognised development at 10 Hammersmith Grove, London, and plans to work collaboratively with interior design and architecture studios PENSON to create a new headquarters that is inspirational, distinctive and “built for innovation”. The building itself is highly sustainable: one of the first in London to be entirely lit by LED lights and powered by solar panels and over the three floors of the development, there will be sociable working spaces, a café-bar and outdoor terrace, studio facilities and a screening room. More →

February 13, 2014

Fin solution for Walkie Scorchie melting problem submitted by developers

by Sara Bean • Architecture, News, Property

The 37-storey tower at 20 Fenchurch Street – dubbed the Walkie Scorchie last summer, after its sloped design was found to be melting cars in the area, will be fitted with a brise soleil shading system to stop it reflecting damaging sun rays reports the Construction Enquirer. Joint development partners Land Securities and Canary Wharf Group have just submitted a planning application to the City of London to fit horizontal light diffusing aluminium fins from the third floor to the 34th floor on the south-facing façade. The fins have been designed by the building’s architect Rafael Vinoly Architects alongside solar glare experts Loisos + Ubbelohde. Once planning consent is granted, the refit project, expected to cost less than £10m, should take around six months to complete.

February 12, 2014

Small steps to innovation debated at Workplace Futures 2014

by Sara Bean • Facilities management, Flexible working, News, Property

New or refurbished workplaces are often described as ‘innovative.’ But while the architect and designers behind a building’s design are often credited with innovation, when it comes to the FMs tasked with managing the property, things are less clear cut. Although the FM sector is increasingly under pressure to demonstrate innovation, whether as services provider or as an in-house department; determining what exactly this constitutes, much less being able to demonstrate it in practice, is a lot more difficult. The 2014 i-FM Workplace Futures Conference, held this week at the Siemens Crystal building in London’s Docklands, bravely aimed to address this conundrum. It was, as the organisers admitted, a tall order to ‘nail this innovation theme,’ but it seems that taking small incremental steps may be the key to success. More →

February 12, 2014

Government BIM target ‘unachievable’, claim construction industry experts

by Mark Eltringham • Architecture, Facilities management, News, Property

The majority of building industry experts surveyed by law firm Pinsent Masons believe that one of the key UK Government target for the uptake of Building Information Modelling is now unachievable due to unfit contracts and the lack of a collaborative approach between clients and builders. The Government had hoped that all central Government construction projects would achieve BIM Level 2 by 2016. But according to the new report, nearly two thirds (around 64 percent)of the 70 people surveyed claimed it was impossible for the target to be met. ‘Level 2’ refers to a collaborative 3D setup in which all project information, documents and data are electronic with fully integrated software and interfaces.

February 6, 2014

London office rents are set to reach historic high by 2018

by Sara Bean • News, Property

London office rents are set to reach an historic high by 2018, fuelled by demand from the technology, media and telecoms (TMT) sector. Demand for office space by technology and media firms across central London was more than double of the finance sector in 2013, with major deals signed by Google, Amazon, Facebook, Twitter, News Corp, and Ogilvy & Mather. According to data from Knight Frank, record levels of overseas investment are helping London build its reputation as a global hub. Geographically, it is not just the City and the West End that are seeing a massive surge in demand; take-up in Docklands increased by nearly 20 per cent last year, while completely new districts are emerging which include London Bridge, Battersea and Nine Elms. More →

February 4, 2014

Arup announces first Manchester office relocation in over 40 years

by Sara Bean • Company news, Property

Arup has announced it is to take 20,000 sq ft of Grade A office space at the Carlyle Group’s Three Piccadilly Place in Manchester. The TSK Group has been appointed to design and deliver the engineering and property consultancy’s first new Manchester office relocation in over 40 years. Three Piccadilly Place comprises 190,000 sq ft of flexible workspace over 11 floors, with 9,300 sq ft of retail space on the ground floor. Keith Rudd, Arup Director and leader of Arup’s Manchester office explained: “The relocation has been a major decision, driven by the growth and breadth of services we now offer across a range of sectors. As an employee owned firm, it’s important we have the right environment to attract and retain the best people, to enable us to continue to deliver great work for our clients.” More →

February 4, 2014

Strongest growth in commercial construction activity since 2007

by Sara Bean • News, Property

The construction industry has had its best month for almost six-and-a-half years; including the largest increase in commercial activity since August 2007. Although the upturn was led by house building, which increased for the twelfth successive month; surging growth was also recorded for commercial construction and civil engineering, due to increased spending by business on infrastructure, office space, industrial units and retail outlets. The Markit/CIPS Construction PMI™ rose from 62.1 in December to 64.6, its highest since August 2007 – one of the strongest growth rates seen since survey data were first collected in 1997. The index shows that while house building has been rising for a full year, commercial building and civil engineering only started recovering in earnest last summer. However, growth of both has now accelerated sharply. More →

February 4, 2014

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

by Sara Bean • Company news, Property

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.