November 6, 2013

Boom in London commercial property development, but demand still outstrips supply

Office construction in the City of London is higher than it has been for five years, according to a report from Deloitte Real Estate. The London Office Crane Survey found that there are over 5 million sq.ft. of office developments at 23 schemes in the Square Mile including major landmark and well known buildings such as the Walkie Talkie and the Cheesegrater. Elsewhere in London, development is at a 4 year high in the central area which covers the West End, King’s Cross, Midtown, South Bank, Docklands and Paddington, with 71 schemes set to create some 9.7 million sq. ft. of new commercial property. The report claims that in 2014 alone, some 6.6 million sq ft of office developments will be complete in central London. More →

November 5, 2013

RICS’ new FM Guidance Note aims to improve business performance

by Sara Bean • Facilities management, News, Property

The Royal Institute of Chartered Surveyors has launched a global guidance note which can help facilities and estates managers increase efficiency and drive up profits across business. The Global Strategic Facilities Management (FM) Guidance Note is aimed at facilities managers and corporate real estate professionals overseeing the running of commercial property worldwide, providing recommendations on developing, implementing and evaluating a strategic plan for the running and servicing of individual buildings and property portfolios. The note is also accessible for clients and consultants by providing them with a clear picture of the best practice methods that should be implemented in the running of buildings in order to boost organisational performance. More →

November 5, 2013

Chinese banks set to take up to 2m sq. ft of commercial property in London

by Mark Eltringham • Briefing, News, Property

Bank of China HQ, London

According to a new report from commercial property consultancy Savills, the global expansion of Chinese financial institutions may see them take up as much as 2 million sq. ft. in the City of London over the next decade. The report claims that Chinese firms see London as one of the key centres for global finance and will take up the opportunities offered by setting London as a base as part of a $1 trillion investment in the West over the next seven years. With four in ten of the World’s largest banks now Chinese, and the sector expanding rapidly since the 2008 downturn, the investment will not only change the structure of the City but also consolidate its position as a global financial centre.

November 4, 2013

Leading US organisations pledge to promote healthy buildings and communities

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

Adobe, one of the first companies to adopt the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) standard, is to conduct a study of its LEED certified workplaces to determine if they measurably contribute to more collaborative, creative, innovative and healthy employees. The move is part of a new Building Health Initiative launched last week by the California chapter of the USGBC. Google, Arup and Interface are amongst the founding partners, along with approximately 20 other organisations from a range of sectors. The movement aims to elevate green building as a benefit to public health as well as encourage the development of transparency standards in building materials. More →

November 4, 2013

EU must develop ambitious plans for retrofitting buildings to hit energy targets

by Sara Bean • Environment, News, Property

With just six months remaining until they are required to deliver long-term strategies on renovation, EU Member States are being urged to develop ambitious plans for retrofitting their buildings. Under the Energy Efficiency Directive, EU Member States must establish “a long-term strategy for mobilising investment in the renovation of the national stock of residential and commercial buildings, both public and private” from 30 April 2014. The World Green Building Council’s Europe Regional Network (of which the UK Green Building Council is a member) and the Renovate Europe Campaign are calling on EU nations to seize the opportunity by publishing strategies that will help ensure investment in jobs and growth, and help deliver lower energy bills for struggling European citizens. More →

October 31, 2013

New report identifies the ten key trends set to transform US commercial property

by Mark Eltringham • News, Property

According to a new report from Deloitte, the recent upturn in the US commercial real estate sector is set to continue unabated into next year. Which is great news but according to the property consultancy, the market that emerges from the ashes of the downturn will be very different to the one from which they were formed. Deloitte’s 15^th annual Commercial Real Estate Outlook report has identified what it considers the top ten trends that will reshape the emerging market based on a mixture of original research, subjective insights and the firm’s experience with clients. These trends are dominated by structural and financial issues and the only nods towards external socio-economic factors are mentions for the aging workforce within the market (so much for the transformational potential of GenY) and increases in single family households (can’t see the link with commercial property).

October 30, 2013

Major injuries at work have reached an all-time low says HSE

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

There has been an 11 per cent drop in major injuries at work compared to 2011/12, according to the latest Health and Safety Executive (HSE) statistics – though construction remains one of the most dangerous sectors. Meanwhile, figures compiled by health and safety expert ELAS shows the HSE has fined UK firms more than £5.5 million for health and safety failings under its ‘Fees for Intervention’ scheme (FFI) since its launch one year ago. Under the Health and Safety (Fees) Regulations 2012, companies that break health and safety laws are liable for fines to cover HSE related costs, including call-outs, inspections, investigations, and taking enforcement action. Businesses were fined a total of £5,532,565 for such breaches by the watchdog since October 2012. These can range from slips, trips and falls, right down to not providing enough toilets or washing facilities. More →

October 30, 2013

Workplace Trends conference justifies the workplace in a virtual world

by Sara Bean • News, Property, Workplace design

In his lightning summary of five decades of the office at Workplace Trends 2013: Making it Work, which took place last week, architect Frank Duffy remarked on the challenge of justifying place in an increasingly virtual world. It’s never been easy to gauge the productivity of offices and knowledge workers – a conundrum the conference returned to throughout the day. Tim Oldman from the Leeman Index, which has gone some way to measure workplace effectiveness, revealed that only 53 per cent of 42,677 workers questioned had agreed their workplace enables them to work productively. Yet despite this, as most of the sessions of the day confirmed, the office is far from obsolete, and as a place for workers to congregate and collaborate, it remains king. More →

October 28, 2013

Global urbanisation trends present UK cities with new opportunities

by Charles Marks • Comment, Environment, Property, Technology

There is a great deal of talk about the growing urbanisation of the world right now, and its effects on societies, economies and individuals. The numbers of people involved are daunting, especially in the developing world. As a result, many countries are currently experiencing the sort of upheaval we in Britain experienced nearly 300 years ago, and they are doing so in a very compressed time span compared to the 150 years it took in Britain. But the changing nature of cities is also apparent in the UK where it is having an effect not only in the country’s only megacity but in regional centres too. For places such as Manchester, Birmingham, Bristol and Glasgow the challenges presented by a new generation of initiatives focussed on urbanisation can be profound and mark an opportunity to shift at least some of the UK’s economic focus away from London.

October 24, 2013

Yahoo and HP “seeing success” by taking a stand against flexible working

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

Yahoo has had some successes since curtailing its work from home policies, global corporate real estate leaders were told at this week’s CoreNet Global Summit in Las Vegas. Continuing the industry conversation around balancing an organisation’s need to foster work and collaboration in person (aka: presenteeism) against the needs of employees to work off site, the discussion centred on how employees can “be present” in an increasingly virtual world, and where should leaders in corporate real estate place their focus? Julie Ford-Tempesta, Senior Director, Real Estate & Workplace at Yahoo said despite predictions of “epic policy failure” following the announcement that all employees must work in the office; employee engagement is up, product launches have increased significantly, and teams are thriving. More →

October 23, 2013

Mixed use scheme’s sustainable power supply gets vice-presidential seal of approval

by Sara Bean • Company news, Environment, Property

The Quadrant 3 redevelopment of offices, retail, residential, restaurant and hotel space in the Regent Street Quadrant in London has become the first in the UK to install an efficient and sustainable fuel cell that draws its power from the same technology used to provide energy to space shuttles during flights. It’s so impressed former US Vice President Al Gore he’s headquartered his sustainable investment firm, Generation Investment Management at Quadrant 3. The building’s sustainable design was an important factor in the firm’s decision to move to the scheme with Mr Gore commenting that the developer, The Crown Estate demonstrated a “sophisticated commitment to sustainability”. More →

October 22, 2013

Over 40 percent of refurbishment projects fail September health and safety checks

by Mark Eltringham • Legal news, News, Property

Following the extensive enforcement action it took against construction sites in March, the latest Health and Safety Executive ‘swoop’ on refurbishment projects in September found that more than 42 percent of them failed the subsequent inspection. During the month, HSE inspectors paid unannounced visits to 2,607 construction sites where refurbishment or repair work was taking place and reported that 1,100 of them failed the safety checks. On 644 of the sites, practices were deemed so poor that enforcement action was taken to protect workers. More seriously, 539 prohibition notices were served to put an immediate end to dangerous activities and inspectors issued 414 improvement notices requiring standards to improve.