Search Results for: real estate

I’ve got some real estate here in my bag

I’ve got some real estate here in my bag

Let us be lovers,
We’ll marry our fortunes together.
I’ve got some real estate
Here in my bag.
So we bought a pack of cigarettes,
And Mrs. Wagner’s pies,
And walked off
To look for America.
“Kathy”, I said,
As we boarded a Greyhound in Pittsburgh,
Michigan seems like a dream to me now.

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UK remains most attractive global commercial real estate market, despite Brexit

UK remains most attractive global commercial real estate market, despite Brexit 0

UK remains most attractive global commercial real estate market, despite BrexitOne in three (31 percent) commercial real estate investors say that the UK remains their preferred region to invest in, with a figure that has remained the same since June 2016 despite the UK deciding to leave the European Union in that period. While a quarter (24 percent) of real estate investors favour Germany as their location of choice for commercial real estate opportunities; however, according to the latest BrickVest commercial property investment barometer this represented a fall from 28 percent in June 2016. More than one in five (21 percent) selected the US, the same as last June, while France saw an increase from 13 percent in June 2016 to 15 percent in June this year. The Barometer also revealed that French, German and US investors are more favourable towards the UK since June last year. Nearly a quarter (24 percent) of French, a fifth (19 percent) of German and 23 percent of US investors suggested they prefer the UK in June this year, representing an increase from last year across the board from 22 percent, 18 percent and 20 percent respectively.

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The workplace experience will define how real estate enables business transformation

The workplace experience will define how real estate enables business transformation 0

JLL has today launched ‘Workplace powered by Human Experience’, a new global report series and accompanying tool, the ‘Human Experience model’, looking at how workplace experience can help businesses thrive in the new world of work. Findings of the report, which is part of JLL’s recently launched Future of Work research programme, are based on consultations with decision makers at 40 corporations around the world and the results of a separate, anonymous survey of more than 7,300 employees working for companies with more than 100 members of staff. The survey covered 12 countries and the respondents were aged between 18 and 65 years. Countries where employees were surveyed: Australia, China, France, Germany, India, Italy, Japan, the Netherlands, South Africa, Spain, the UK and the US.

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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

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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Despite Brexit, UK remains most attractive commercial real estate market

Despite Brexit, UK remains most attractive commercial real estate market 0

The UK remains the preferred region to invest in commercial real estate despite seeing a slight dip in popularity since Brexit, according to the latest BrickVest commercial property investment barometer. In March 2017 nearly one in three (30 percent) selected the UK as their preferred commercial real estate investment location, down slightly from 31 percent in March 2016. BrickVest’s quarterly survey of 3,000 investors found that a quarter (25 percent) of respondents favour Germany as their second location of choice for commercial real estate opportunities, the same as last year. Less than one in five (18 percent) selected the US which represents a fall from 21 percent last year. The same number (18 percent) also selected France although this is an increase from 14 percent in 2016.

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London’s law firms cut back on half of new leases as they rethink their real estate

London’s law firms cut back on half of new leases as they rethink their real estate 0

The number of new leases taken up by the largest law firms in London fell by more than 50 percent last year, claims a new report from CBRE. The study of the 100 largest firms in the capital found that the firms are rethinking their real estate strategy in the light of new developments in flexible working, technology and the result of the Brexit referendum.  According to the report, the total space taken through new leases in 2016 was just under 500,000 sq ft – 55 percent down on 2015 and 36 percent below the 10-year average. The report found that no law firms had signed deals for more than 90,000 sq ft last year. The largest deal of 2016 was CMS’ leasing of 84,199 sq ft at Cannon Place ahead of its merger with Nabarro and Olswang, with lawyers from the three firms set to consolidate into one building.

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Mobile and internet connectivity should be a priority for commerical real estate

Mobile and internet connectivity should be a priority for commerical real estate 0

Mobile and internet connectivity should be a priority for commerical real estate

Cluttons has proposed that a mobile coverage rating should be added to lettable workspace criteria, because despite mobile and internet connections being the fifth essential utility for the modern environment they are often overlooked when leasing space. With the rise of dependence on SIM-based equipment, the property firm argues that workplaces should be let with a coverage rating, measuring connectivity within a property. It argues that given the fast-paced evolving nature of the sector, landlords who invest in excellent telephony infrastructure are likely to secure tenants for longer periods and potentially achieve higher rental values. The approach is being borne out by the government recognising the importance of better mobile and internet infrastructure, by making it a focal point to extend superfast broadband to 95% of the UK by the end of 2017. This comes as no surprise given that several emerging markets are leap-frogging the adoption of technology and are quickly outpacing the UK in the sophistication of infrastructure on offer to occupiers. London is ranked near to the bottom of the internet connectivity league table when looking at Europe.

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Brexit effect means London’s real estate is much better value than last year

Brexit effect means London’s real estate is much better value than last year 0

In the two years running up to the Brexit vote, London vied with New York and Hong Kong for the title of most expensive world city to accommodate employees and last year it was crowned the most expensive world class city for international businesses to rent office and living space for their employees. Now Brexit’s impact has made the UK look much better value on a world stage as the devaluation of sterling means it now ranks closer to Paris and Tokyo, leaving New York and Hong Kong in a league of their own with much higher accommodation costs. It now costs an average of US$88,800 per person to rent office and housing space in London, well below the price tag of June 2014 of US$124,500, according to the latest Savills Live-Work Index which measures annual accommodation costs per worker in leading world cities. By this measure, London is now 10 per cent cheaper in these terms than it was in December 2008.

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Future shock + Government saves billions in property + Technology and real estate 0

In this week’s Newsletter; Jo Sunderland visits the Boston Consulting Group (BCG) latest office in the new heart of New York; and Mark Eltringham remembers Alvin Toffler, author of Future Shock. The majority of employers are unprepared for new gender pay reporting Regulations coming into force in April; plans unveiled on a landmark £1 billion project in East London; and rationalisation means that vacant space within the central government estate now only represents 1.4 percent – well below the average in the private sector of 8.9 percent. UK workers stressed by putting in unpaid extra work; and even engaged employees will leave for the lure of a fresh challenge. From the latest issue of Work&Place which can be downloaded or viewed here, Kate Langan assesses the impact technology is having on the workplace and the use of corporate real estate;Download our Briefing, produced in partnership with Boss Design on the link between culture and workplace strategy and design; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

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

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

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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Major corporate real estate occupiers struggle to balance cost cutting with strategic goals

Major corporate real estate occupiers struggle to balance cost cutting with strategic goals 0

Although the world’s major corporate real estate occupiers retain a focus on managing the costs of their workplace when it comes to making the big decisions, there is a growing emphasis on offsetting this against issues such as staff recruitment and retention. That is the key finding of a new report from Cushman & Wakefield into the priorities and decision making of large corporate occupiers. It claims that firms are now far more focused on striking the right balance between goals that are often in direct opposition to one another. The study, produced in partnership with CoreNet Global, was based on interviews with 266 occupiers, three quarters of whom have more than 25 offices worldwide. The survey examined not only how location and workplace strategy are viewed as corporate value drivers, but also CRE’s alignment with business strategy.

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Nearly a third of investors say Brexit offers commercial real estate investment opps

Nearly a third of investors say Brexit offers commercial real estate investment opps 0

london-brexitThe recent warning that the major banks are planning to leave the Capital following the Brexit vote has understandably caused some concern within the commercial property sector;  so it’s cheering to hear that three in ten (30 percent) institutional investors actually believe Brexit will either increase or significantly increase European commercial real estate investment opportunities. A further one in four (23 percent) institutional investors believe that Brexit will have no impact on commercial real estate investment opportunities. According to a new study by BrickVest, following the UK’s decision to leave the European Union, nearly two in five (38 percent) institutional real estate investors cited London as the top European city to invest in commercial real estate, ahead of Berlin (36 percent), Munich (31 percent) and Paris (22 percent). However, one in five (21 percent) cited both Dublin and Hamburg and a further 16 percent selected Frankfurt, highlighting a clear positive trend towards German commercial real estate. Indeed 40 percent of the top ten European cities were German.

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