December 14, 2016
Surge in take up of London commercial property defies Brexit storm 0
London commercial property has managed to weather the Brexit storm with a late surge of City deals over the past three weeks set to see Central London take-up in line with its long-term average level of 10 million sq ft in 2016. According to the latest figures from JLL, despite take-up in Central London being subdued in the lead-up to and immediate aftermath of the referendum, City take-up has surged during the last quarter, and is expected to reach 5.3 million sq ft by year end, just 6 percent below the long term average. This is offset by strong take-up in East London, where the recent deal to the GPU at Canary Wharf propelled take-up to 8 percent above its long term average level. The most notable deals of 2016 included – The Government Property Unit (GPUK) took 542,000 sq ft at 20 Cabot Square, E14 which was a sub-lease from Barclays; Apple pre-let 500,000 sq ft at Battersea Power Station, SW8 and will be paying a rent in the high £50 per sq ft; Thompson Reuters acquired 315,362 sq ft at 5 Canada Square, E14, paying a rent of £40 per sq ft; 33 Central, EC4 was pre-let to Wells Fargo who took the entire building, totalling 227,689 sq ft and New Look pre-leasing 127,096 sq ft at R7 Handyside Street, N1C for £77.50 per sq ft.
November 28, 2016
Britain is missing a trick by not getting workplace training right 0
by Steve Hill • Comment, Workplace
New research from PwC highlights Britain’s failure to provide opportunities for young people. The study brings attention to the fact that the country ranks a lowly 21st out of 35 OECD members for its ability to get 15 to 24 year olds into work, education or training. If the UK could equal Germany’s low youth unemployment rate it would stand to gain around £45 billion, a 2.3 percent increase in GDP. The PwC report compares numerous countries, however Germany, Austria and Switzerland come out on top when it comes to providing career opportunities and workplace training to young people. Perhaps a clue to their success is that these nations all have so-called ‘dual education systems’ where work-based learning sits with equal stature alongside traditional academic study.
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