In pictures: plans revealed for East London iCity development

by • Company news, Property, Technology

Offices at iCity

Offices at iCity

While Parliament debates the reality or otherwise of the 2012 Olympic legacy, the firms behind iCity on the Queen Elizabeth Olympic Park in East London (above) have submitted detailed planning proposals and launched a new website to promote the development which they claim will become ‘a world-leading centre of innovation, education and enterprise’. The joint venture between property consultancy Delancey and datacentre operator Infinity SDC claims it will offer almost unlimited bandwidth connectivity and provide up to 400,000 sq. ft. of office space, including for digital start-ups, as well as a 250,000 sq. ft. datacentre, studio and production space and a convention centre. The plans have been drawn up Hawkins\Brown architects.

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UK commercial activity growth at strongest rate since March 2007

by • Facilities management, News, Property

Growth of UK total commercial activity at 79-month highImproved client confidence, easier and greater access to funds, the general  upturn in the UK economy and overall stronger demand have contributed to a 79-month high for the UK commercial property sector, according to a new survey from commercial property consultancy Savills. The Total Commercial Development Activity Index from Savills posted +30.2 per cent in October. This was supported by a return to growth in public commercial projects, while the pace of expansion in private commercial work reached a survey peak. UK total commercial activity rose at the strongest rate since March 2007, with the net balance registering +30.2 per cent during October. UK commercial developers also indicated that both public and private commercial office activity increased during the last month. Click here to see the full report.

UK commercial property lease lengths shorten to ten year low, claims report

by • News, Property

let-signLease lengths for commercial property fell to an historic low in the year to June 2013, while income, lost due to tenants going bust, hit an all time high, according to a new report from IPD. The IPD Lease Events Review measures over 93,000 leases, and 3,500 lease events across the UK. The 2013 edition found that over 80 percent of UK leases signed in the year to June 2013 were under five years in length, the highest level since measurement began and up from 55 percent over the last ten years. The average length of commercial property leases is now 5.8 years, down from 7.8 years in 2003, lower even than the 6.0 years in 2009 at the lowest point of the recession. Landlords have struggled to maintain cash flow and lost over 6 percent of their income due to a record numbers of defaults and insolvencies last year.

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Best tall buildings in world competition winners announced by CTBUH

by • Architecture, Company news, Events, News, Property

cctvheadquarters_ext-entranceview-2_(c)butyrskii_igorThe Council on Tall Buildings and Urban Habitats (CTBUH) has announced the winners of its Best Tall Building Worldwide competition. The overall winner was the China Central Television Headquarters in Beijing (above) which was also the regional winner for Asia. The other three regional awards went to The Shard, London (for Europe), The Bow in Calgary (Americas) and the Al Khatem Tower in Abu Dhabi (Middle East and Africa). The awards were presented in Chicago on 7 November with the winners chosen from 60 entries by a judging panel. A popular vote was taken on the evening which also saw the audience voting the CCTV headquarters as the best tall building. The overall winner award was presented to the building’s joint architect Rem Koolhaas, who famously included a chapter called ‘Kill the Skyscraper’ in his 2003 book Content.

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

by • News, Property

London cranesOffice 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 →

RICS’ new FM Guidance Note aims to improve business performance

by • Facilities management, News, Property

RICS launches guidance note to improve business performanceThe 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 →

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

by • Briefing, News, Property

Bank of China HQ, London

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.

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Leading US organisations pledge to promote healthy buildings and communities

by • Environment, Facilities management, News, Property

Adobe pledges to promote healthy buildings and communities 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 →

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

by • Environment, News, Property

EU must develop ambitious plans for retrofitting buildings to hit energy targetsWith 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 →

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

by • News, Property

Navel gazingAccording 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 15th 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).

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

by • 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 →

Workplace Trends conference justifies the workplace in a virtual world

by • 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 →

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