Search Results for: office

April 21, 2016

Brexit referendum has not diminished demand for London office property ⁰

by Sara Bean • Facilities management, News, Property

Political uncertainty over the Brexit referendum has done little to diminish demand for London office property, despite it causing the commercial property market to experience a nervous start to the year. According to the latest research from Colliers, the number of vacant offices still remains low, with occupiers appearing to be relatively un-phased by external political and economic upheaval. There has been some high profile lettings and a healthy number of new large scale enquiries in the first quarter of this year – but transactions and searches have become protracted and supply shortages are undermining occupier expansion plans. However demand for office space amongst media and tech firms is diminishing in some locations. While Q1 2016 figures show that media and tech accounted for 38 percent of demand for office space across London, in the traditional media enclave of the West End, the figure fell to just 13 percent of demand, down from 45 percent in 2015.

April 17, 2016

How can commuting to your choice of office affect staff productivity? ⁰

by Darren Bilsborough • Comment, Facilities management, Flexible working, Property

To say that I am obsessive about the subject of productivity in the workplace is an understatement. It is integral to much of the subject matter I write about, including the core theme contained in my book Don’t Worry About The Rent. Whilst undertaking research, it was important for me to get to the bottom of the decision making processes that many businesses go through when choosing office space. I was well aware of the predisposition for the commercial real estate industry to ask questions around size, cost and location, but I was particularly interested in what other issues might rise to the surface and become “top of mind” for management to consider around office choice. Predictably, I found that tenant surveys, including those undertaken by Colliers International confirmed that the two major issues management would consider were size and cost. The next biggest issue however was a surprise and it related to concerns around commuting.

April 15, 2016

Office demand prompts rise in level of London commercial construction ⁰

by Sara Bean • Cities, Facilities management, News, Property

London has reached the highest level of commercial construction since 2008, with activity totalling £7.4 billion. According to JLL and Glenigan’s latest UK Commercial Construction Index the level of speculative office development under construction in Central London totalled 8.3 million sq ft at the end of Q1 2016, well ahead of the long term average (5 million sq ft) indicating that developers are continuing to respond to London’s burgeoning requirements for new office floor space. In the West End office market alone, construction started speculatively on nine schemes in the first quarter of this year totalling 596,997 sq ft; the highest level of commencements since the end of 2014. The largest starts were at Brunel, W2 at 241,000 sq ft, which is scheduled to complete in 2019 and The Foundry, W8, a refurbishment planned to complete by the end of this year totalling 110,000 sq ft.

April 11, 2016

What our enduring love of wooden office furniture tells us about how we work

by Paul Goodchild • Comment, Furniture, Workplace design

As the office continues to evolve so too do the materials used within it. While many corporate headquarters make liberal use of brushed steel, aluminium and glass, an ancient, well loved and sustainable material is becoming increasingly popular all over again. Wood never went away, of course, but the latest ideas about office design seem to have given it a new lease of life as a material. In part this is down to an inherent love for wood, but it is also acknowledges the aesthetic and functional crossover between the office and other places where we work such as cafes, hotels and homes. Nowhere is this more apparent than in the new generation of commercial office furniture designs. In many ways they hark back to the 1950s when the British were introduced to modernism in no uncertain terms. This design movement led the British to reject dark woods and embrace new forms and materials including lighter, arguably more natural woods.

April 5, 2016

Scientific management and the enduring love of the open plan office

by Mark Eltringham • Comment, Furniture, Technology, Workplace design

There are many reasons why organisations like open plan offices. When it comes to making the business case for them however, firms prefer to talk about some more than others. So while they prefer to focus on the argument in terms of how openness can foster better lines of communication, collaboration, teamwork and team spirit, they talk rather less about the fact that the open plan is a lot cheaper than its alternatives and how they like it because it allows them to keep an eye on what people are doing. In theory, a great deal more of this surveillance now happens electronically so the need for physical presence should be less pressing, but the residual desire to see with one’s own eyes what people are doing remains. This is the instinct that constrains the uptake of flexible working and also means that there is a hierarchical divide in who gets to decide where they work.

March 22, 2016

Manchester refurbished office market thrives due to occupier demand ⁰

by Sara Bean • Cities, Facilities management, News, Property, Workplace design

Approximately 625,000 sq ft (58,063 sq m) of office space in Manchester is set to be refurbished over the next two years as the market responds to continuing demand. According to Savills, Grade B has accounted for an average of 62 percent of the city’s annual take up over the last 10 years, and with Grade A supplies running low the proportion could be even higher in 2016. Despite growing demand for Grade A office space in Manchester over the last three years, annual take up has consistently been under pinned by larger Grade B occupiers seeking to balance high quality offices with value for money. Savills also reports that the TMT sector has taken more Grade B space in Manchester than any other sector over the last five years, with deals totalling 710,889 sq ft (66,042 sq m); a significant increase on the 294,631 sq ft (27,371 sq m) of secondary space let to TMT occupiers in the previous five years.

March 22, 2016

A growing need to create an office that attracts rather than repels staff ⁰

by Darren Bilsborough • Comment, Property, Workplace, Workplace design

So where do you start when identifying the attributes that make an office an ‘attractor’ for staff? There are numerous articles extolling the virtues of everything from pool tables, to hammocks, creative “playgrounds” and all manner of enticing and unique workplace design considerations. However, I believe that there are more intangible and subjective issues at stake such as building aesthetics, prestige and values alignment. Very few businesses benefit from working in low-key, nondescript locations. The only likely motivation for occupying such a space would be cost-driven. Likewise, nobody wants to work in a building that is run-down, outdated and clearly past its best-by date. It is preferable for most office workers to work in a building that is new, interesting, prestigious or an acknowledged landmark. It becomes something they can be proud of and would be happy to share with family, friends and colleagues.

March 21, 2016

Graduates value flexible work and innovative office spaces over pay ⁰

by Sara Bean • Comment, Flexible working, News, Workplace, Workplace design

There’s been a lot of assumptions and predictions made about Millennials, and the upcoming generation of workers dubbed Gen Z. They’re alternately spoilt with a sense of entitlement or have a zeal for change and strong social conscience. So while there is a danger of stereotyping this diverse group, employers still need to work out the best way to attract and retain the most talented. Today’s graduates have enjoyed much higher quality university accommodation and facilities than previous generations, and the flexibility of the modern day campus is clearly influencing their work choices. Unlike the generation before them, recent graduates place double the importance on flexible work and work-life balance than they do on their earnings to chart their success. A Bright Network study of over 2,000 of the country’s top graduates also found that high priority was placed on a clear path for advancement over and above high earnings.

March 18, 2016

Increase in commercial office take up across Europe expected to continue ⁰

by Sara Bean • Facilities management, News, Property

The commercial property occupier markets across Europe recorded healthy improvements in activity during 2015, with the total take-up in the major office markets rising by 10 percent, according to Knight Frank’s latest European Quarterly Report. Although there was a drop in take-up in Europe’s two largest markets, London and Paris, this was made up by the strong performance of German, Iberian and Central and Eastern Europe markets. Commercial property rents rose by around 3.5 percent over the course of 2015, largely due to growth in markets such as Dublin, London, Madrid and Stockholm. Rental growth is expected to spread to a wider range of cities in 2016 with Paris, for example, expected to see prime office rents rise following more than two years of stability. A total of €64.5 billion was invested in European commercial property in Q4 2015, taking volumes for the full year to €238.5 billion. This represents a 25 percent increase on 2014.

March 16, 2016

Hong Kong, London and Beijing most expensive cities for office space ⁰

by Sara Bean • Cities, Facilities management, News, Property

Hong Kong is the world’s most expensive office location, followed by London, Beijing and New York.This is according to JLL’s Premium Office Rent Tracker, which compares like-for-like occupation costs across 24 cities around the world. This ranks Established World Cities such as New York and London, Emerging World Cities like Shanghai, Dubai and Mumbai, and New World Cities such as San Francisco, Boston and Toronto. The latest research shows that six of the top ten most expensive cities for office rentals are in Asia; with Hong Kong the world’s costliest office rental market on a net basis as well as including added costs such as service charges and property tax. The tracker found continued demand prime office space, despite a rise in economic uncertainty; while across the global cities, the technology, media and telecommunications sectors are moving into premium office space – previously dominated by the finance and professional services sector.

March 15, 2016

Décor matters but location most important factor for the ideal office ⁰

by Sara Bean • Facilities management, Flexible working, News, Workplace, Workplace design

Recent data has shown that increasingly, it’s people, not cost, which is the primary driver behind real estate decisions. British Land has carried out research into what features would make up the UK workers’ ideal office and the results point to a clear link between delivering these ideal features and talent recruitment and retention. The good news is that the workers surveyed believe they would be 36 percent more productive at work if they were working in the ideal office, and, 86 percent say they’d stay longer with an employer that had the ideal office location and features. The other side of the coin is that 80 percent believe that companies that don’t offer their employees a convenient location and attractive features are more likely to lose them. Younger workers in particular are markedly more likely to move jobs to find a working environment that suits them, and this includes offering a workplace with a ‘buzz’.

March 12, 2016

Office redesign a priority + Menstrual leave debate + Nine workplace trends ⁰

by Sara Bean • Facilities management, Flexible working, Property, Workplace, Workplace design

In this week’s Insight Newsletter; Mark Eltringham weighs in on the flexible working/menstrual leave debate; Tricia McCall looks at the way the latest workplace designs are influencing the classroom. We learn about the nine workplace trends that managers should address; that staff believe that 91 percent of firms won’t be competitive by 2020 and that a majority of managers see redesigning their organisation as their most important priority. In news – the Government fails to deliver on technology; London occupiers will pay just for a view; and the CIPD warns that not enough organisations are taking action to address the causes of gender inequality. Download our latest Insight Briefing, produced in partnership with Connection, on how the boundless office can be freed from the shackles of time and place and access the latest issue of Work&Place. Visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.