Search Results for: development

September 30, 2014

Occupiers’ expansion plans fuel demand for Central London office space

by Sara Bean • Facilities management, News, Property

Amazon to move to Foster & Partners’ designed development Principal Place

The already intense levels of competition for prime Central London office space look set to increase. New data by JLL reports that leasing figures in the Central London office market are set to top those reached in 2013, with City lettings showing potential to reach over 7 million sq ft for the second year in a row and the West End on track for 3.3 million sq ft by the close of 2014. Strong take-up in these markets, combined with a resurged market in the Docklands, will see Central London take-up figures on track to exceed last year’s total of 11 million sq ft. While consolidation and lease expiries have been main drivers up to now, a buoyant economy means occupiers expansion plans are bringing new requirements to the market. Amazon’s recent decision to take a 400,000 sq ft pre-let at mixed-used development Principal Place at Shoreditch, is an early example of this and it’s expected more occupiers will follow suit.

September 25, 2014

Dubai unveils plans for sustainable ‘Perfect City’ real estate hub

by Mark Eltringham • Cities, Environment, News, Property

Undeterred by the seriously stuttering start to existence of Masdar City in Abu Dhabi, the government of Dubai (but of course) has announced plans for what it claims will be the first specialised sustainable city in the world. The plans for the characteristically modestly named ‘Perfect City’ were unveiled this week at the Cityscape 2014 trade show in Dubai and form one of the centrepiece projects of a seven year programme of development masterminded by Dubai Land Development (DLD). Work begins on the project begins next year and is expected to complete in 2021. As with Dubai Media City and Dubai Internet City the idea is to create a sustainable hub for a particular industry, in this case real estate. The plans include a canal, 20,000 trees and the provision that 75 percent of the City will be made up of green space.

September 24, 2014

‘Overwhelming evidence’ of link between office design, productivity and wellness claims report

by Mark Eltringham • Briefing, Knowledge, News, Workplace design

A new report from the World Green Building Council (WorldGBC) claims it has “overwhelming evidence” that office design significantly impacts the health, wellbeing and productivity of staff. Health, Wellbeing and Productivity in Offices: The Next Chapter for Green Building reports on a range of factors – from air quality and lighting, to views of nature and interior layout – can affect the health, satisfaction and job performance of office workers. Understanding the link between workers and their workplace helps to drive the business case for higher quality, healthy and greener buildings, valued by investors, developers and tenants alike. With salaries and benefits typically responsible for 90 percent of an organization’s expenditure, any higher construction or occupation costs are far outweighed by even small improvements in staff performance.

September 22, 2014

Much anticipated BCO Specification Guide update for 2014 launched

by Mark Eltringham • Architecture, Facilities management, Knowledge, Property, Workplace design

The British Council for Offices (BCO) has launched the much awaited new edition of its Specification Guide. Last updated in 2009, the 2014 issue aims to cement the publication’s position as the ‘definitive guide to office development in the UK’. As well as its traditional subjects of occupier density and building infrastructure and services, the latest edition covers topics such as building information modelling (BIM) rights to light, updates to BREEAM and amended planning law and building regulations as well as topical issues such as the inexorable rise of the ‘coffee shop workplace’ and the provision of cycle parks. Richard Kauntze, chief executive, claims the revised BCO Specification Guide represents a greater focus on the needs of end users.

September 19, 2014

England’s local authorities acting like property developers, claims report

by Mark Eltringham • Knowledge, News, Property, Public Sector

England’s local authorities are responding to the country’s ongoing austerity measures by behaving more like property developers as they seek to redevelop property and land valued at £13.5 billion by 2019, according to a new report from local government think tank Localis in conjunction with developer Cathedral Group. Rather than simply selling off assets, the research claims that councils are increasingly looking to develop property to provide them with revenue streams as a way of shoring up their shrinking budgets. The report claims that the proportion of projects slated for redevelopment is currently a third of all disposals but will make up the majority in five years time. The report has received cross party support and links to other high profile public sector initiatives, especially the One Public Sector Estate scheme. The Cabinet Office recently reported that the UK public sector estate had shrunk by 2 m. sq. ft. since 2010.

September 17, 2014

Avanta Serviced Office Group to open Shoreditch business centre at heart of ‘Tech City’

by Mark Eltringham • News, Property

Avanta Serviced Office Group has signed a deal to establish a new business centre in the heart of London’s Tech City at The Eagle, a 27 storey art-deco-style development on City Road, EC1, from Mount Anvil – Central London’s specialist residential-led developer. The centre is set to open on the 1st March 2015. The new centre will provide over 26,000 square feet of flexible office space over two floors, with approximately 400 desks. Set within a mixed-use development comprising retail, affordable accommodation, offices and high-end residential, it is located within TFL’s Zone 1, approximately five minutes’ walk from Old Street Rail and Underground Station, just two stops from Kings Cross.bThis is Avanta’s first site within Tech City, also known as Silicon Roundabout, which is the third largest technology start-up cluster in the world and home to over 15,000 growing businesses.

September 17, 2014

Availability of office space in central London has fallen a fifth since last year

by Sara Bean • Facilities management, News

Increased pressure on London rents are being predicted as the latest figures by DTZ show the availability of office space in central London is now 20 per cent lower than the same period in 2013, and 30 per cent below the 10 year average. While London office take up rose by 17 per cent over the same period in 2013, all Central London markets, except the South East fringe, are seeing year-on-year decreases in supply of at least 15 per cent. The North West fringe, the Docklands and the West End have seen the biggest falls in availability over the past 12 months (down 53%, 36% and 30% respectively) with availability in the City falling by 17 per cent over the same time period. A significant development has been the availability of second hand space falling by a third (33%) to 5.6 million sq ft over the past 12 months – 47 per cent below the ten year average. More →

September 15, 2014

Key to successful BIM implementation is collaboration, says RICS

by Sara Bean • Architecture, Facilities management, News, Property, Public Sector

The need for collaboration between all the professions working within the built environment was the overriding theme of a free seminar on BIM, hosted by RICS last week, reports RICS’ Schemes and Accreditation Manager Jon Klahn. The event featured speakers from quantity surveying, engineering and architecture, and was designed to help delegates learn more about BIM and RICS’ role in establishing BIM industry standards. Addressing the 80 plus attendees, Dr Anne Kemp FRICS, Director of BIM Strategy and Development at Atkins and Chair of ICE’s BIM Action Group said the various professions can no longer be driven by self-interest. BIM in itself is not the solution. But the change required to make BIM successful will ultimately allow for better construction, better buildings and a better environment. Successful BIM implementation requires a partnership of people, process and technology and for project teams to understand and appreciate each other’s roles as professionals. More →

September 12, 2014

Rate of UK commercial property activity slows to weakest for 15 months

by Sara Bean • Facilities management, News, Property

The UK commercial property sector grew for the 24th consecutive month in August, but at its weakest rate since May 2013. According to the latest Total Commercial Development Activity Index from Savills, which monitors the overall performance of the UK commercial property sector, the rate fell from +27.7% to +11.9% in August, the weakest expansion in 15 months. Commercial work continued to rise in the private and public sectors however, and despite growth slowing substantially in both cases, commercial developers in the UK remained optimistic. Anecdotal evidence linked this to positive expectations of increased public sector activity and client interest in new projects. Although solid overall, the growth of refurbishment activity in August was the least pronounced since May 2013 and following 17 successive months of growth, panellists reported stagnation in office fit-out activity as well. More →

August 28, 2014

Third-place workspaces as well as flexible hours are key to success, says workplace provider

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

As the summer holidays draw to an end, many working parents will be appreciative of the benefits of flexible working. Now new research from Regus has highlighted the long-term benefits of agile working in helping employers to attract and retain staff. Prospective employees are increasingly demanding some form of flexi-working deal, while nine out of ten employers report that offering flexible working options – including flexi-location as well as flexi-hours – is proving a highly effective way of improving staff morale and helping them to achieve a better work-life balance. While the workplace provider is understandably in favour of the flexi-location concept, as a provider of ‘third-place’ workspaces, for instance at railway stations, this kind of multi-location working is undoubtably growing in popularity More →

August 27, 2014

Lack of regional commercial property could hamper UK growth

by Sara Bean • News, Property

Although construction is on an upward trend, the development of commercial property lags behind, and the situation is particularly challenging in the West Midlands. According to JLL and Glenigan’s inaugural Commercial Construction Index, total construction starts by value, year end Q2 of 2014 were 15 per cent down compared to Q2 of 2013 at £2.03 billion. Graham Taylor, director of JLL’s Birmingham Buildings & Construction team, explained that the volume of commercial property being started has not risen substantially since the recession. Birmingham, Leeds and Manchester are already experiencing a shortage of Grade A office space – with much of the shortfall due to a drop in construction activity compared to the early to mid 2000’s. He said: “Rising corporate confidence means that many companies are looking to upgrade their workplaces. The corporate world is increasingly recognising that well-designed modern offices can be a key driver of productivity and staff retention, two major strategic concerns.”

August 18, 2014

The CIPD is right to focus on the multi-generational workplace

by Justin Miller • Comment, Workplace, Workplace design

Amongst all the talk about Generation Y and its impact on the world of work, it can be easy to miss the fact that the modern workplace is not defined by one particular generation, but a number of them. The multi-generational workplace has significant implications for the way we design and manage offices. While we must avoid the more obvious stereotypes about the needs of different age groups, we must still offer spaces that can meet a wide range of cultural, physical and technological needs if we are to create productive workplaces.The latest organisation to bang the drum for the multi-generational workplace is the Chartered Institute of Personnel and Development. It has published new research together with the Scottish Centre for Healthy Working Lives into the experiences and attitudes of SMEs towards age diversity at work.