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CRE investment highest in cities with strong tech culture

CRE investment highest in cities with strong tech culture

Corporate real estate investment highest in cities with tech cultureCities with tech innovation-oriented cultures have a strong competitive advantage amongst those investing in commercial real estate, claims a new report from JLL (registration). Of 109 cities analysed, the nine leading global markets – Boston, London, New York, Paris, San Francisco, Seattle, San Jose, Sydney and Tokyo, accounted for around 37 percent of total annual real estate investment volumes over the past decade. Like real estate investors, corporate occupiers also search for locations that have advanced innovation ecosystems, the report suggests. These cities sustain highly skilled workforces and are best placed to succeed in the future.

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Report calls for investment in line management training

Report calls for investment in line management training

More than two-fifths (45 percent) of workers believe their line manager don’t help morale at work and one in three (32 percent) feel uncomfortable approaching management about work problems, according to a poll published today. The TUC report, Improving Line Management claims that while the majority of UK workers feel supported by their bosses, more than a third (35 percent) don’t think that their line manager treats them and their colleagues fairly. The TUC says the findings expose the patchiness of management training in the UK, as despite being crucial to workers’ well-being and productivity, less than half of UK managers got any training in the last year, according to most recent government statistics.

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Central London commercial property market investment up over a quarter

Central London commercial property market investment up over a quarter

Commercial property investment in Central London (the City and West End) rose to £3.2 billion in the first quarter of 2019, a 28 percent increase on the £2.5 billion invested in Q1 2018, according to new data from Savills. The firm also claims that investment volumes in Central London in Q1 2019 were also higher than those in Q1 2015 before the UK’s referendum to leave the EU, when they reached £3.14 billion.

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London office market saw more investment than any other global city in 2018

London office market saw more investment than any other global city in 2018

London office market saw more investment than any other global city in 2018Alongside the uncertainty surrounding Brexit there have been many predictions that London will be particularly hard-hit by the economic fallout. However, a new analysis by savoystewart.co.uk of Knight Frank’s The London Report 2019 proposes London will continue to attract the interest of occupiers and investors alike. The research suggests that London saw greater volumes of commercial real estate investment than any other global city in 2018 – with over £16 billion of transactions. More →

Majority of businesses fail to see a return on their technology investments

Majority of businesses fail to see a return on their technology investments

According to a new report from Accenture, the majority of businesses don’t see a return on their technology investments and just 14 percent of businesses manage to realise the full potential of their tech investments. Roughly $3.2 trillion was spent on new technology in the last five years. Businesses that were most successful with their investments were the ones investing in bold moves, rather than incremental shifts.

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Central London office investment last year reached highest level since 2014

Central London office investment last year reached highest level since 2014

30 Gresham Street: Central London office investment last year reached highest level since 2014Investment in Central London offices totalled £5bn in the final quarter of 2018, bringing the year-end total to £17.6bn, a 10 percent rise from 2017 and the highest level since 2014, according to data from CBRE. The final quarter of 2018 saw a 16 percent quarterly rise in investment volumes compared to Q3 2018 and a 69 percent increase on Q4 2017. Over the course of the year, five deals over £500m transacted, including the £1bn sale of 5 Broadgate to CK Asset Holdings and the £1.3bn sale of leaseback of Goldman Sachs’ new European HQ. Whilst none of these larger transactions completed in the final quarter of 2018, Q4 was the most active of the year in terms of number of deals transacted. A total of 65 deals completed in the final quarter of 2018, highlighting the persistent demand for assets in Europe’s principal gateway city. The largest investment transaction in Q4 2018 was the £400m+ sale of 30 Gresham Street to Wing Tai and Manhattan Group from Samsung.

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Record take up in Northern Ireland office market amid concerns over future investment

Record take up in Northern Ireland office market amid concerns over future investment

City Quays mixed-use regeneration projectThe Northern Ireland office market had a record year in 2018, with a 100 percent increase in take-up, according to the latest figures from CBRE. The Northern Ireland (NI) office sector enjoyed its most successful year on record with 885,023 sq ft of take-up reported across 84 transactions, more than double that achieved last year. Notable office deals completed in 2018 included the PwC move to Merchant Square, Northern Ireland Civil Service at 9 Lanyon Place, Allstate at Mays Meadow, TLT at River House and Baker McKenzie at City Quays 2, which is part of Belfast’s City Quays mixed-use regeneration project. However, according to CBRE’s Real Estate Outlook report, the office market in NI is hampered by a severe lack of investment deals in the face of ongoing local, national and international political uncertainty. This means that while the real estate market in Northern Ireland generally has performed well in 2018, the investment sector experienced a decrease in activity as a resulting knock-on effect of the current political situation locally at Stormont as well as ongoing Brexit negotiations.

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Investment in London commercial offices unlikely to be changed by Brexit

Investment in London commercial offices unlikely to be changed by Brexit

London’s commercial office appeal unlikely to change because of BrexitInvestment in City of London offices is up by 7.6 percent for the same period last year reaching £9.47 billion as of the end of October 2018 – while the West End market is on track to reach at least £7.4 billion before the year is out. This is up on the £7 billion turnover seen in 2017, according to Savills. Stephen Down, executive director and head of Savills Central London investment team, says: “Demand for central London offices has remained buoyant throughout 2018. While we may not see the year set any new records, annual volumes look set to either surpass or draw very close to those of 2017. More →

Far too few people cycle to work despite promotion and investment in infrastructure

Far too few people cycle to work despite promotion and investment in infrastructure

In spite of the government investing £1.2 billion into cycling, new research claims that it is still only a few people who are cycling to work, with many citing nervousness about cycling in traffic as the reason. A survey of more than 7,600 UK adults published by Decathlon in the Decathlon Activity Index 2018, shows that only 7 percent of the nation is commuting to work with a bike. Despite cities including Manchester, Cambridge and London having made improvements to accommodate cycling, more than 1 in 4 (26 percent) still feel it is too dangerous to do so. This was followed by 21 percent who said they are still too scared to cycle the roads to work.

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Lack of skills investment means businesses miss out on benefits of automation

Lack of skills investment means businesses miss out on benefits of automation

A new report from the Capgemini Research Institute claims that, in the majority of companies (58 percent), automation is not yet meeting executives’ desired goals of increased productivity. The study, Upskilling your workforce for the age of the machine: Why a workforce upskilling strategy is key to unleashing automation’s productivity potential reveals that while automation does increase productivity to an extent, the key to reaching its full potential is by appropriate upskilling of the workforce.

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Strong growth in office investment helps bolster European real estate market

Strong growth in office investment helps bolster European real estate market

Strong growth in office investment helps bolster European real estate marketTotal real estate investment in Europe decreased by 8 percent in the second quarter of this year, but there has been strong growth in the offices sector, with volumes totalling €29bn, compared to €24.1bn for the same period last year. Office investment for the first half of the year was also up 11 percent on the same period last year. Furthermore, investment into other areas, including healthcare and student accommodation, remained resilient, with volumes on par with that of last year and 6 percent up on the first half of 2017. Following a more subdued start to the year, the UK posted a strong second quarter. Total investment in Q2 2018 reached €19.9bn, driven by a record quarter for London City office investment. Jonathan Hull, managing director of Investment Properties, EMEA at CBRE commented: “Despite ongoing political uncertainties, the UK remains an attractive destination for European and global capital.”

Investment in European corporate real estate takes a downward turn

Investment in European corporate real estate takes a downward turn

Investment levels across European corporate real estate markets are currently on course to meet 2017 levels, after finishing last year on a high. Levels of investment in the first three months of 2018 was broadly in line with the long term average following one of the strongest final quarters recorded in the report from real estate consultancy Savills. Commercial investment totalled €46 billion across the survey area, down 8 percent compared to the same period last year but broadly in line with historic trends.

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