May 21, 2014
Supply of new office space in London continues to fall short of demand
One of the downsides to London’s attractiveness as a business destination, as we reported yesterday, is its inability to provide enough office space to satisfy the rapacious demands of the companies who want to work there. Survey after survey reveals the same thing. Even though London has a healthy pipeline of new offices under construction, it cannot keep pace with demand. The latest survey to make the same point comes from Deloitte Real Estate whose London Crane Survey claims that the 9.2 million sq. ft. of office space currently being built will fall short of what is needed. The report claims that London office space is likely to remain in short supply for two years as the new occupancy levels of offices continues to outstrip supply. The report claims that 2014will see 7 million sq. ft. of Grade A office space delivered, the largest volume for over a decade but nearly half has already been let even before construction is complete.
March 5, 2014
Innovate or die? Why facilities management must embrace change to survive
by Demitri Maldonado • Comment, Facilities management
According to recent reports on workplace, facilities management and corporate real estate, the support services sector needs to change. Some even say it needs to innovate or die. That might be a little harsh, but the current model that the majority of FM service providers work to and that their clients take for granted is tired and has not kept pace with the evolving business environment. Zurich Insurance’s report of late 2012 into CRE & FM said the sector was at a cross roads; in 2013 Jones Lang LaSalle said something similar and picked out five global trends to which CRE and FM had to respond. IFMA & CBRE have taken a similar line, but are more specific – namely FM had to embrace its softer side, focus on people skills and develop them to ensure success. More →