Search Results for: one public sector estate

Government commits to a further £2billion cut in property estate

by • News, Property

More than £2 billion in savings will be realised from the sale of UK public sector real estate and other efficiencies, Minister Jacob Rees-Mogg has announced. The savings are part of the new Government Property Strategy, which has now been published.  As part of the plans, the government will sell £1.5 billion of property assets over the next three years as projects such as the Government Hubs programme sees government staff consolidated into fewer buildings. £500 million of savings will also be made by reducing operating costs, using modern building materials and energy sources, and cutting spend on leases. More →

UK rated world number one as Europe sets the standard on real estate transparency

UK rated world number one as Europe sets the standard on real estate transparency

by • News, Property

transparent real estateEurope is leading the way on real estate transparency as a raft of new sustainability legislation raises industry standards, according to the latest Global Real Estate Transparency Index [registration] published by JLL, in partnership with LaSalle. Six of the 12 countries classed as ‘Highly Transparent’ in the report are in Europe with France, the Netherlands, Germany and Belgium among the most improved, joining Ireland and Sweden. More →

Built environment sector must think in radical ways and act quickly

Built environment sector must think in radical ways and act quickly

by • Cities, Environment, News

built environment need for actionThe construction sector, the real estate industry and city planners must give high priority to the same goal – to drastically reduce their climate impacts. Powerful, combined efforts across all of the built environment sectors are absolutely crucial for the potential to achieve the UN’s sustainability goals. And what’s more – everything has to happen very quickly. These are the cornerstones to a roadmap presented at the recent Beyond 2020 World Conference. More →

Cuts to government estate save £2bn

Cuts to government estate save £2bn

by • News, Public Sector

Public Sector EstateWork to reduce the size of the government estate has freed up land for development, including new housing, and secured more than £2bn over the past year, the Cabinet Office has claimed. The ‘State of the Estate 2018-2019’ report shows the government estate, which is made up of buildings across the country, is now 30 percent smaller than it was in 2010. In the past year, 339 former government sites have been disposed of, totalling 277,000 square metres – the equivalent of 39 football pitches. The cost of running the estate has also fallen by £50 million a year. More →

Commercial property sector shifts focus to wellbeing in response to tenant demands

Commercial property sector shifts focus to wellbeing in response to tenant demands

by • News

Wellbeing is an increasing focus for the commercial property sector A new report from the Urban Land Institute (ULI), claims that the wave of interest in wellbeing in the UK is expected to translate into significant investment from the commercial property sector over the next three years. The report, Picture of health: the growing role of wellbeing in commercial real estate investment decision-making, has been published by the ULI UK Sustainability Forum to highlight the rise of wellbeing investment in commercial buildings. The report from ULI UK was sponsored by E.ON and addresses questions about the investment case for incorporating wellbeing into buildings and how to measure its impact. More →

The impact of technology, cyber-risk and the future of corporate real estate

The impact of technology, cyber-risk and the future of corporate real estate 0

by • Features, Property, Technology, Work&Place, Workplace design

It’s no surprise to say that technology is having a significant impact on the workplace and the use of corporate real estate. The fast pace of change has seen technology impact all aspects of business, government and culture, as well as personal life, with a constant flow of new innovations and solutions helping us to do things more quickly and efficiently. Equally, technology also provides a challenge to business and, more specifically, corporate operations, with a whole array of disruptive technologies.

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Government continues with massive reduction in size of public sector estate

Government continues with massive reduction in size of public sector estate

by • News, Property

Work to reduce the UK government estate has seen its size fall by 156,000 square metres over the past year. This makes the estate a third smaller than it was in 2010 – creating a saving in real terms of £760 million in running costs, according to the Government. Today’s State of the Estate report also claims that a further £750 million in capital receipts has been generated this year from the sale of over 400 sites, delivering a total of £2.4bn in capital receipts over the past three years. At the same time, vacant space across the government estate is just 1.4 percent, which is significantly lower than in the private sector, according to the report.

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British Property Federation announces plans to modernise commercial property sector

British Property Federation announces plans to modernise commercial property sector

by • News, Property, Technology

The British Property Federation (BPF) has launched a Technology and Innovation programme for the UK commercial property sector – to support the sector in its digital transformation – following the Government’s challenge to all sectors of the economy to improve productivity and deliver growth. The programme is launched with the publication of a new report produced by Future Cities Catapult, commissioned by the BPF, to understand the barriers to and opportunities for improving the productivity of the real estate sector through the application of technology.

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New government estates strategy will see thousands of jobs relocate away from London

New government estates strategy will see thousands of jobs relocate away from London

by • News, Property, Public Sector

estates strategyThe UK Government has announced it latest plans to save around £3.6bn over the next two decades by dramatically scaling back its property estate and relocating thousands of staff as part of its new 12 year estates strategy. The Cabinet Office has outlined the plans to move thousands of public sector jobs, including senior roles, out of London by 2030, reducing Whitehall buildings from around 65 to 20 over the same period. Around 20 so-called Government hubs will be set up in the regions by the end of this parliament in 2022. In total, the strategy commits to reducing the number of government-owned office buildings from 800 to under 200, with an estimated saving of £3.6bn over 20 years.

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New Scotland Yard wins Better Public Building Award at the 2017 British Construction Industry Awards

New Scotland Yard wins Better Public Building Award at the 2017 British Construction Industry Awards

by • Architecture, News, Public Sector, Workplace design

The New Scotland Yard building on Victoria Embankment has been named as the winner of the 2017 Prime Minister’s Better Public Building Award. The Award sets out to ‘recognise excellence in publicly funded buildings and infrastructure, and highlights projects that bring real change to communities, demonstrate innovative and efficient construction and deliver value for money’. The winning building, designed by AHMM, is a £58 million project that remodelled and extended the former Curtis Green building. It represents a move back to Victoria Embankment for the Metropolitan Police service, having first previously occupied the address in 1890. The new entrance is designed ‘to create a welcoming and non-institutional yet secure front door’ and reinstates the iconic revolving sign. The project was completed as part of a major rethink of the organisation’s corporate real estate strategy, in line with UK Government objectives for the public sector estate.

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Government failing to meet goals for an integrated real estate portfolio

Government failing to meet goals for an integrated real estate portfolio 0

by • News

The UK Government is getting better value for money from its estate, according to a new report from the National Audit Office. The Government Property Unit (GPU), however, has not yet made much progress towards its objective of creating a shared, flexible and integrated estate. The government’s central estate includes some 4,600 individual holdings, costing around £2.55 billion a year to run. The GPU, which is part of the Cabinet Office, was set up in 2010 to better co-ordinate estate management in the public sector. Since the NAO’s last report in 2012, departments have continued to make good progress in reducing the overall size of the central estate. They have also reduced overall estate spending and pay less for office accommodation than private sector comparators. Departments report they have reduced their annual estate costs by £775 million in real terms since 2011-12 to around £2.55 billion in 2015-16. Between 2011-12 and 2015-16, departments raised £2.5 billion by selling surplus land and properties. The GPU is also starting to have an impact on the wider public estate.

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The impact of technology on corporate real estate: A Panglossian future?

The impact of technology on corporate real estate: A Panglossian future? 0

by • Features, Property, Technology, Workplace design

arton233Amos Tversky and Daniel Kahneman introduced the concept of Loss Aversion in 1984, highlighting people’s tendency to strongly prefer avoiding losses to acquiring gains. Most studies suggest that losses are twice as powerful, psychologically, as gains. Lose £100 and we will feel a remorse that easily outweighs winning £100. In a similar fashion we find it very hard to see future positives when confronted with short term loses. We understand easily what we have lost but cannot imagine what there is to be gained. Furthermore, as Frederic Bastiat wrote in an 1850 paper, “That Which is Seen, and That Which is Not Seen”, man has a tendency to “pursue a small present good, which will be followed by a great evil to come, rather than a great good to come, at the risk of a small present evil”. Put these together and it is no wonder that, by and large, the future of work, corporate real estate and the workplace is so widely misunderstood.

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