November 12, 2013
UK commercial property lease lengths shorten to ten year low, claims report
Lease 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.
The finest closing sentence of any novel in my opinion is that in The Great Gatsby. “So we beat on, boats against the current, borne back ceaselessly into the past.” It is a reference to the futility of our attempts to escape the past, even as we look to the future, dreaming of how “tomorrow we will run faster, stretch out our arms farther”. F Scott Fitzgerald was referring to people when he wrote it, and Jay Gatsby in particular, but it’s a passage that resonates in a number of ways, especially in those areas of our lives that deal most intimately with what it means to be human. And one of these is self-evidently the workplace, where any articular attempt to define the ideal office for a particular time, including the future, is complicated by the fact that we must always meet the needs of the beasts that inhabit it. Regardless of the tools we have at our disposal with which to work more effectively, or just plain ‘more’ we remain fundamentally the same animals we were thousands of years ago.
November 5, 2013
Technology fix. What employers can do when social media becomes an addiction
by Pam Loch • Comment, Legal news, Technology, Workplace
Recent research shows that technology has helped us to become nearly five times more productive than we were in the 1970s. As well as enabling social interaction and personal expression, social media such as LinkedIn and Twitter can be valuable business aids for innovation and collaboration. However, with over half of people under 25 admitting they have to check Facebook at least once a day, it’s clear that for many, social media has become more than a form of virtual engagement. This can create something of an issue in the workplace, leaving employers with the dilemma of balancing the positive aspects of online communications while discouraging time wasting. More →