Search Results for: recession

Fewer projects put on hold as construction sector recovery continues

by • News, Property

Construction sector

In the week the ONS announced the UK unemployment rate has dropped to 7.1 per cent, comes more evidence of the recovery from the built environment. Figures released by construction industry analysts Glenigan have revealed that the value of UK projects put on hold during 2013 was the lowest since the start of the recession in 2008. In total, £12 billion of potential projects were put on hold last year, compared to £47 billion in 2012 and a peak of £80 billion in 2009. According to Glenigan economist Tom Crane, the value of stalled projects have been falling since 2009, but the latest figure shows the continuation of an encouraging trend, with a 16 per cent fall in the value of underlying projects.   More →

Plans submitted for 19 storey tower in Manchester business district

by • News, Property

No 1 SpinningfieldDevelopers have submitted plans for the development of a new tower on the site of an existing office building in Manchester city centre. Allied London is looking to create a new 19 storey office in Spinningfields, the city’s troubled £1.5 billion business district which ran into development problems at the height of the recession between 2007 and 2010. The new building a will offer over 340,000 sq. ft. of office space and is designed by Ian Simpson Architects who were responsible for the design of the Beetham Tower. The ground floor is also likely to incorporate retail outlets, cafes and restaurants. A final decision on the application from the local authority is due in April. Quay House, the current building on the site, is argued by the developer to be under-occupied and outdated.

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Retaining valuable employees is top global priority for CEOS this year

by • News, Workplace

Retaining valuable employees is top global priority for CEOS this yearThe number one priority of business leaders worldwide this year is how best to develop, engage, manage, and retain existing talent. This worker-centric approach means that employee engagement and better management will take centre stage as the way to improve competitiveness, win new customers and raise productivity. According to new research from The Conference Board and UK partner CMI (Chartered Management Institute), CEOs will concentrate on creating a strong internal talent pipeline rather than seeking to recruit externally, with nine out of the top 10 global Human Capital strategies focused on current employees, including providing training and development, raising employee engagement and increasing efforts to retain critical talent. Other closely linked priorities identified in the CEO Challenge 2014 are customer relationships, innovation, operational excellence, and corporate brand and reputation. More →

Google is a better source of information than HR team, say line managers

by • News, Workplace

Google is a better source of information than HR team say line managers

The image of the cosy Personnel Manager, part mentor part counsellor, has little in common with the reality of the modern Human Resources professional, steering the organisation through the upheavals of a prolonged recession and engaged in strategic thinking, such as big data. In many ways the professionalisation of HR, which (unlike FM) has achieved Chartered Status, is an encouraging sign that organisations understand the importance of their most important assets – the people. However, the rise of the HR professional has also created barriers between them and line managers. A lack of openness and slow response to queries from HR is driving line managers to Google the answers rather than wait for their increasingly preoccupied HR colleagues to respond. More →

Workforce to grow across the regions next year, bolstered by flexible working

by • Flexible working, News, Workplace

Workforce to grow throughout the country in 2014The management issues which dominated 2013 centred on the rise of flexible working; if pay scales would remain below inflation; and whether jobs recovery would continue and if so, could expand beyond the fringes of London. As today’s ONS figures show unemployment at the lowest rate since 2009, the latest CBI/Accenture Employment Trends Survey reveals that more than half of UK companies expect to create jobs over the next 12 months for the first time in over five years. It says private sector workforces are anticipated to grow across all regions, Yorkshire and Humberside and the east midlands being the most buoyant. Bosses will continue to take a cautious approach to pay however, with flexible contracts used to bolster economic growth and job creation. More →

The creative talent in the UK’s regions (other than London) is quietly thriving

by • Comment, Property, Technology, Workplace

We can now be very confident that the UK economy is on an enduring upward path. We can also be sure that the UK that emerges from five years of recession will be very different to the one that entered it. And on that score things look pretty promising too, because we have the skills and talent needed in some of the world’s most in-demand sectors such as digital media, banking, software development, telecoms and publishing. In fact a recent report from Deloitte says that London employs more people in these and similar knowledge-based sectors than any other country in the world. But while London has an inevitable tendency to grab these sorts of headlines, it’s also great to acknowledge that London doesn’t have a monopoly on this pool of talent, and may even be less attractive as a base for some firms.

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Remarkable resurgence of confidence in the UK commercial property market

by • News, Property

Edinburgh is one region enjoying a resurgence in confidence

Edinburgh is one region enjoying a resurgence in confidence

The UK commercial property market is continuing its strong recovery, driven in large part by a resurgence in regional markets and financed by more adventurous borrowing by investors, a juxtaposition of three new reports reveals. According to Lloyds Bank’s twice yearly Commercial Property Confidence Monitor, around three quarters of the small and medium sized commercial property agents surveyed for the report expect a  surge in activity over the next six months, led by especially strong confidence levels in Scotland, South West England, North West England and the Midlands. The results are mirrored in the latest Savills’ commercial development activity survey which found that  the UK’s commercial sector grew at its fastest rate on record during November. Meanwhile, another report from Laxfield Capital claims that investors are willing to take on more debt for new deals to take advantage of the new confidence in the market.

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Revival in UK commercial property driven by high tech enclaves such as Cambridge

by • News, Property, Technology

Silicon FenAs we reported recently, it’s not just technology firms in London’s creaking digital enclaves that are driving recovery in the economy and commercial property markets. The UK is home to several hothouses of innovation and talent and the cluster of technology firms and related businesses in Cambridgeshire – inevitably Silicon Fen – are contributing to the highest level of commercial real estate activity in over six years, according to a survey we reported recently from property advisor Savills. The Cambridge arm of the firm is reporting that as well as new projects, schemes that were shelved during the recession are coming back online. Now in an interview in local magazine, Business Weekly, Savills has described how the national recovery is manifesting itself in one of the UK’s high tech hotspots.

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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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‘Beleaguered’ UK workforce is poorly motivated and unproductive

by • Flexible working, News, Workplace

UK workers are lacking motivation and job satisfaction, with over half either feeling neutral or unhappy about going to work most days, only one in four very satisfied with their jobs and 20 per cent who dread going to work. According to a new report, ‘The Forgotten Workforce’ a series of blows to UK workers, including cuts to their working hours, increasingly inconsistent working patterns, pay freezes, and introduction of zero hours – coupled with little or no investment in technology to support employees – has led to a UK workforce lacking morale and disengaged from the business. An efficient business needs an efficient workforce. If this cycle continues, businesses will face increasingly poor productivity and the UK economic recovery will suffer warns the report. More →

New CIOB survey lifts lid on extent of corruption in UK construction

by • Architecture, Facilities management, Property

Bribe brown envelopeA new survey from the Chartered Institute of Building (CIOB) claims that the majority of professionals in the UK construction industry believe that corruption in the sector is commonplace. The survey, which can be downloaded in full here, found that over a third (35 percent) had personally been offered a bribe or some other form of inducement at some point in their career, while nearly two-thirds (65 percent) believed the offer of gifts and corporate hospitality to win contracts is commonplace. A similar proportion (38 percent) of respondents had come across anti-competitive practices on at least one occasion, and of those, 29 percent had experienced cartel activity in the year running up to the survey.

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Planning approval granted for major new South Bank development

by • News, Property

New Blackfriars developmentA 1.4 million sq ft mixed used development scheme next to Blackfriars Bridge at London’s South Bank has been granted approval by Southwark Council’s planning committee. Nine buildings, including a 48 storey tower are being planned to include 450,000 sq ft of office space, which it is promised, will almost double the number of permanent jobs in the area to over 3,700. The scheme, which also comprises 25,000 sq ft of retail space, nearly 500 residential apartments and the creation of 35,000 sq ft of new pubic open spaces, is being delivered by asset management firm Carlyle. Two existing buildings on the site, which were acquired by Carlyle along with four other nearby buildings for £671m in 2010, will be demolished according to the designs drawn up by PLP Architecture. More →

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