Search Results for: real estate

August 16, 2013

Healthier people theme for this year’s World Green Building Week

by Sara Bean • Environment, Knowledge, News

The UK Green Building Council has published a calendar of events for this year’s World Green Building Week (WGBW) which takes place from 16-20 September 2013. The theme is ‘Greener Buildings, Better Places, Healthier People’, emphasising the value of green buildings to people – whether higher productivity for office workers, improved learning outcomes for students, healthier workplaces for nurses and teachers, or better homes for people. The key messages are that green buildings make better places to live, work and play; that improving indoor and outdoor environmental quality help us to create healthier places to live and work, and that green buildings can improve well-being and quality of life for everyone in the community. More →

August 13, 2013

Worldwide space standards moving closer to UK norm, claims new report

by Mark Eltringham • Comment, Facilities management, Flexible working, Knowledge, News, Property, Workplace design

Worldwide office space standards are now moving closer to the norm seen in the UK according to a new survey from CoreNet Global. According to the CoreNet survey of real estate managers, the average amount of space per office worker globally has dropped to 150 sq. ft (14 sq.m.) , from 225 sq. ft. (21 sq.m.). This is still well outside the standards from the British Council for Offices Specification Guide which reported a fall to 11.8 sq. m. in 2009 and which will be revised downwards even further with the publication of the new guide which has been promised soon. Even this figure might be seen as high and makes assumptions about the relevance of such space standards given the way some firms now work.

August 7, 2013

UK construction and manufacturing buoyant but mixed picture in global property market

by Mark Eltringham • Knowledge, News, Products, Property

There are signs that the UK’s faltering economy is on the road to recovery. Construction activity in the UK jumped sharply in July to hit its highest level in over three years, according to the latest Markit/CIPS survey of purchasing managers. This may have been driven primarily by a surge in house building, but even the recently moribund commercial construction sector saw an increase in activity. However a new report from the Royal Institute of Chartered Surveyors has highlighted that while the UK may have reason to smile, the picture of global commercial property markets is very patchy.

July 29, 2013

Hospitality giant receives second LEED certificate for sustainable HQ

by Sara Bean • Company news, Environment, Furniture, Lighting, News

Wyndham Worldwide, one of the world’s largest hospitality companies, which counts the Travelodge and Ramada chains amongst its brands has received a second silver certification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program for its New Jersey-based headquarters. One of the green initiatives was the introduction of a sustainable purchasing policy that encourages the purchase of ongoing items such as lamps, electronic goods and furniture, to be environmentally friendly, conserve natural resources, minimize waste and reduce toxicity. More →

July 22, 2013

Green shoots detected for UK regional office rental markets

by Sara Bean • Facilities management, News, Property

There is evidence of improving fortunes for the UK’s regional office markets, latest figures suggest. CBRE has revealed national rental value grew by 1.7 per cent over the second quarter of this year with offices across all UK regions performing well, and none recording a drop in rents. The highest rate of rental growth over the last twelve months, as we reported earlier this month remains that of Central London at 5 per cent (and 1.7 per cent for the last quarter), but a number of the regions outside London and the South East have started to record rental growth for prime offices, whereas until recently the general trend has been down.

July 12, 2013

New joint venture formed to capitalise on booming London Office market

by Sara Bean • Company news, News, Property

A 50:50 joint venture partnership to capitalise on the thriving London office market has been formed by Hermes Real Estate Investment Management Ltd and Canada Pension Plan Investment Board. CPPIB is investing £173.9 million to acquire a 50 per cent interest from Hermes’ BT Pension Scheme’s (BTPS) existing portfolio, which comprises 550,000 sq ft of high quality offices, retail and ancillary accommodation, primarily located in London’s West End. Graeme Eadie, Senior Vice-President and Head of Real Estate Investments for CPPIB, said: “We are pleased to be partnering with BTPS and Hermes on this unique opportunity to invest in a high quality, well-diversified portfolio of office properties in prime Central London locations.”

July 9, 2013

New study to investigate effectiveness of UK carbon reduction policies

by Mark Eltringham • Environment, Facilities management, Knowledge, Legal news, News

Deloitte has been commissioned by the Green Construction Board and the Green Property Alliance to carry out a study into the effectiveness of the UK Government’s policies for carbon reduction as the it seeks to meet its commitment to reduce the country’s carbon emissions by 80 percent by 2050. Inevitably buildings, which reportedly are the largest source of CO2 including some 17 percent from non-domestic property, have been targeted to make significant contributions. With the much vaunted Green Deal in the news for all the wrong reasons – either because of its low take-up as well as new fears that it could lead to homes overheating – the survey will gauge how policies aimed specifically at commercial property such as Energy Performance Certificates and the Carbon Reduction Commitment have fared in spite of their own difficult gestations.

July 8, 2013

Landmark Lloyd’s building sold to Chinese insurance firm in commercial property deal

by Sara Bean • Architecture, News, Property

The iconic Richard Roger’s-designed Lloyd’s Building at One Lime Street, London EC3, has been sold to Ping An, a Chinese insurance company for £260 million, it’s been confirmed. The Lloyd’s Building will continue to house the world’s leading insurance market as it is let in its entirety to the Society of Lloyd’s on a lease expiring in 2031. Jon Crossfield, director within Savills’ Central London team, says “This is a potentially landmark transaction, given it is the first by a Chinese Insurance company overseas. It is a high profile and confident entry to the market for them and further illustrates the dominance of overseas investors in London at present.” The commercial property deal, which represents the first purchase by a Chinese insurance company in the UK was managed by Commerz Real and advised by Savills and CBRE.

July 3, 2013

Two separate reports highlight thriving London office market

by Mark Eltringham • Knowledge, News, Property

Holborn Circus

The London office market continues to thrive according to two new reports from property consultancies CBRE and BNP Paribas Real Estate. According to the CBRE survey, take-up of Central London office space in the second quarter of 2013 increased by 32 percent compared with the previous quarter while, according to BNP Paribas, the take up of central London offices in the first half of 2013 rose by nearly a quarter 24 percent to 6.02m sq ft compared with the same period in 2012, while activity rose by around a third (31 percent) to 3.08m sq ft in the second quarter of the year compared with the second quarter of 2012. CBRE report that there were three deals for offices over 100,000 sq ft in the period covered and eight deals over 50,000 sq ft, the highest number since Q4 2010.

July 1, 2013

Office Insight announces partnership with Worktech 13

by Mark Eltringham • Company news, News

The publishers of Office Insight are pleased to announce a partnership with Worktech 13, which will be held at the British Museum in London on the 19th and 20th November. This will be the tenth annual Worktech conference staged by organisers Unwired. The conference looks at the implications of the convergence between the worlds of technology, corporate real estate, work and the workplace making it an ideal partner for Office Insight which is the UK’s most widely read specialist publication on those topics. Over the next few months Worktech and Office Insight will be publishing content from some of the world’s foremost thinkers on office design and management including Frank Duffy, Philip Ross, Dave Coplin and Greg Lindsay. Office Insight readers will also be able to take advantage of a 20 percent discount on delegate tickets. More →

June 25, 2013

What Jeremy Clarkson can’t teach us about workforce productivity

by Mark Eltringham • Comment, Workplace

In 2011, one of Top Gear’s regular bits of lazy casual racism caused a bit more fuss than the rolling of eyes it typically deserves. The presenters had mocked a Mexican sports car with Richard Hammond – who has never said anything interesting or funny in his life – claiming that ‘cars reflect national characteristics. A Mexican car’s just going to be a lazy, feckless, flatulent oaf with a moustache, leaning against a fence asleep, looking at a cactus with a blanket with a hole in the middle on as a coat.’ There was a bit more of this kind of stuff with Jeremy Clarkson suggesting that the Mexican ambassador to Britain would be too lazy to make any kind of complaint. He was wrong about that (he did) and they were all wrong about Mexicans anyway because according to a new report into global productivity, Mexico has the world’s most productive workforce.

June 10, 2013

British Land on track to meet targets on green building efficiency

by Sara Bean • Company news, Environment, Facilities management, News, Property

British Land says it is on track to meet many of its 2015 targets on managing buildings efficiently, developing sustainable buildings and reducing carbon emissions. In its Corporate Responsibility Report for 2013, the real estate investment trust, which owns and manages a portfolio of commercial property worth £16.4 billion reiterates its commitment to sustainable property management: “There are increasing indications to support our view that sustainability, and particularly energy efficiency, grow income and grow value in the longer term. We are convinced this will be proven over time. Green buildings are also less at risk of obsolescence, thus further protecting and growing capital value over the medium to long term.” More →