Search Results for: commercial

June 14, 2016

UK leads the world in serviced offices and demand is set to rise ⁰

by Sara Bean • Facilities management, Flexible working, News, Property

The UK is the leading global serviced office sector, with the largest and most mature market, accounting for over a third (36 percent) of the worldwide serviced office footprint, according to a new report commissioned by serviced office group Office Space in Town. The UK serviced office market has grown by 31 percent since 2008, and it is projected to increase in value significantly by 2025, to £62 billion on conservative projections and £126bn on more optimistic forecasts. There are three key drivers behind its rise: increasing numbers of growth businesses, expansion of key sectors that use serviced offices and the trend towards more flexible working. There are sound economic and business behavioural reasons to believe this growth in demand for serviced offices will continue over the next decade. This, in part, will come from growth in small firms and business start-ups, which comprise a large share of current serviced office users.

June 8, 2016

Mayor of London moves to open up more office spaces for startups ⁰

by Neil Franklin • Cities, Flexible working, News, Property

It is telling that one of the first issues to be addressed by incoming London Mayor Saddiq Khan is the problem the capital’s thriving startups have in simply finding a place to work. Although the measures outlined in the new London Plan are aimed primarily at addressing London’s housing crisis, they also include measures to deal with the reduction in the amount of viable office space available following the relaxation of planning rules which allow developers to more easily switch existing office stock to residential use. The costs of office space in London is a growing concern for all sectors, but falls especially hard on startups. According to a recent study by SpareOffice, even the use of coworking space is an issue, with average monthly fees of £357 per person. Now the mayor has announced that he will put new measures in place to help protect and expand office space for small businesses, start-ups and entrepreneurs in London.

June 6, 2016

Only a third of employers have policies to support working carers ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

As baby boomers and Gen X age, more of the working population are responsible for the care of elderly relatives, with some being part of the ‘sandwich generation’, balancing work while caring for older family members and their own children. Yet according to a new survey published today by CIPD/Westfield Health just a third of employers (34 percent) have a formal, written policy or an informal, verbal policy in place to support working carers in their workplace . The report also finds that just 13 percent of organisations offer line manager training to support working carers, which is concerning given the key role line managers play in providing flexibility and support to people with caring responsibilities. With estimates suggesting that 3 in 5 people will end up caring for someone at some point in their lives, employers are being urged to put mechanisms in place to empower and support working carers, before they lose out on key talent; while those employers that do support working carers believe it’s made a positive difference to their culture.

May 27, 2016

Canary Wharf bucks London’s Brexit office market slow down ⁰

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

Canary Wharf has outperformed the Central London office market during the past 12 months, with rental growth reaching 26.7 percent, ahead of Mayfair and St James’. It seems Canary Wharf’s high quality purpose built space, coupled with its relative affordability when compared to the rest of London, has helped attract significant deals in recent months. The most notable deal during Q1 was Thomson Reuters take up of 300,000sq ft in St Martin’s 5 Canada Square. Faisal Durrani, Cluttons head of research, explained, “It was only a matter of time before the area began to draw in occupiers, particularly from the City and City fringes. It’s a market that has undersold itself and its full potential is yet to be realised but we may be approaching a significant turning point in its attractiveness. In recent months, the Central London market has experienced Brexit nervousness and general settling of the market but Canary Wharf has bucked this trend.”

May 18, 2016

What the imminent arrival of driverless vehicles will mean for the way we work ⁰

by Mark Eltringham • Cities, Comment, Flexible working, Technology

Game changing technology doesn’t come any more disruptive than driverless vehicles. The problem is that we may find the whole idea easy to dismiss based on our past experiences of this sort of thing. Autonomous vehicles carry the whiff of Tomorrow’s World about them, yet they are about to go mainstream far sooner than we might think and their advent will have a major impact on the way we work and live. Both Ford and BMW have announced they intend to have fully autonomous vehicles on the roads within five years. That doesn’t mean the test models that are already on the roads but commercially available vehicles; Volvo will have 100 customers in Sweden and the UK using the vehicles next year. Tesla claims its cars will be driverless in two years. And it’s not just car makers who are intent on grabbing a share of this new market but computer makers like Google and Apple as well as sharing economy pioneers like Uber.

May 12, 2016

Making sense of the relentless babble about flexible working

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

Not a day goes by when some organisation or other isn’t found extolling the virtues of flexible working or urging everybody to adopt the practice. While it’s easy to be cynical about the results of surveys from technology companies which are a staple part of this media onslaught, they are actually on to something. And that is why governments, employers and their associations and employees are all attracted to the idea of flexible working as a way of achieving whatever it is they want. The result is the stew of motivations, ideas and terminology that can lead commentators to make grand and daft pronouncements about flexible working; pronouncing it dead, most famously in the case of Yahoo but more subtly in the case of the grand new Xanadus being created in Silicon Valley by the area’s Charles Foster Kanes, or as the harbinger of death for the office based on the notion that somehow we’ll all be working in exactly the same way at some point in the future.

May 12, 2016

Office construction at highest level in London for eight years ⁰

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

Office construction in the Capital is at its highest level for eight years, according to Deloitte’s latest London Office Crane report, which measures the volume of office development taking place across central London. Recognising that the low supply of available office space across central London offers a limited choice for tenants, developers have responded by starting a record number of new schemes since the last survey. The latest results show that the volume of office construction has increased by 28 percent over the past six months to 14.2 million sq ft the highest level since the beginning of 2008. In just 18 months activity nearly doubled from 7.7 million sq ft in 2014. The financial sector has leased the largest share of office space under construction in the latest results, accounting for 2.3 million sq ft, or 39% of the let space while currently accounting for 38 percent of the space let, the TMT sector is a leading occupier group.

May 11, 2016

Central London office activity slows as EU uncertainty hits market ⁰

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

Given the level of uncertainty around June’s Referendum on the UK’s membership of the EU, the £11.9bn invested into commercial real estate during the first three months of 2016 appeared robust. However, 50 percent of Q1’s volume was in January, with the data from Lambert Smith Hampton showing that activity tapered off significantly in the following two months. Anecdotal evidence clearly linked the slowdown directly to the approaching vote. As a result there was a significant fall in activity, which translated into a very quiet quarter for Central London Offices, where volume halved quarter-on-quarter to £2.2bn, the lowest quarterly total since the last part of 2011. Given that financial services is widely regarded as the most exposed sector to a possible ‘Brexit’, this sector appears to have suffered most from investor caution.In marked contrast, investment in the rest of UK Offices has remained buoyant at £1.4bn, the highest quarterly total since the middle of 2007.

May 7, 2016

Problem of London’s success + Design & people + Latest Work&Place ⁰

by Sara Bean • Architecture, Facilities management, Newsletter, Workplace

In this week’s Newsletter; Simon Heath suggests that FM should be satisfied with remaining essentially a service; Mark Eltringham bemoans the rise of tall buildings; examines commercial buildings that become synonymous with an organisational or sector crash; and celebrates the work of Donald Broadbent, whose research into cognitive psychology helps us address the effects of unwelcome noise in open plan offices and of German artist Fritz Kahn, in providing some understanding of how people respond to their surroundings. There’s news of a significant drop in employee satisfaction; why remote working may help to reduce the strain on overcrowded cities; and the negative effects of admin and unreliable technology on productivity. You can read the latest issue of Work&Place, download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

April 29, 2016

Start-ups help drive the rise in uptake of serviced offices in Australia ⁰

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

The number of flexible workspaces is growing in Australia, which has seen a 15 percent increase in new serviced offices and co-working spaces opening in the last year, according to data from Instant Offices. But the country still has some way to go when compared to other major international destinations for business, with only 300 such offices in total compared to more than 3,000 in the US alone. During the relative economic uncertainty of the past year – with growth limited to 2.5 percent however, Australia is now witnessing the growth of a “contingent” workforce. Small businesses of four employees or less make up more than three quarters of the total market, and considering that in two of the country’s commercial markets, Sydney and Melbourne, the typical entrance to the market has been via fixed lease of seven to 10 years in length; the agility offered by flexible workspaces is gaining in appeal.

April 25, 2016

Driverless vehicles set to create vast swathes of developable real estate ⁰

by Mark Eltringham • Cities, News, Property, Technology

A new report from WSP and Farrells claims to identify exactly how the advent of autonomous vehicles will have a significant impact on the real estate sector worldwide. It suggests that changes in the way cars are owned and used will free up large tracts of potentially valuable property for other uses. Although the report confirms that driverless cars may increase the amount of people able to use cars for transport, including those currently unable or unwilling to drive, the amount of parking necessary to accommodate them may shrink significantly as shared ownership becomes a norm and road design changes to meet the needs of autonomous vehicles. The end result will be significant changes in the way urban space is planned and developed with a potential increase in the amount of land available for development by up to a fifth. IN the UK this will equate to hundreds of millions of pounds of added value for major city centres.

April 23, 2016

Latest Work&Place + Performance management + Design and people ⁰

by Sara Bean • Facilities management, Flexible working, Newsletter, Property, Work&Place, Workplace

This week’s Newsletter features the latest issue of Work&Place, which presents a truly global perspective on the forces redefining our relationship with work. In news, the Government extends the One Public Sector Estate scheme and London’s commercial property sector is unaffected by the Brexit jitters. The three day working week is the ideal scenario for the over 40s; current performance management practices discount the digital workplace; and employees spend too much time checking work emails at home. Mark Eltringham says design what you like but don’t discount the impact of adding human beings to the mix; how people have been writing guides to good ergonomics at least since the early seventeenth Century; and that Charles Eames came to have mixed feelings towards his most famous chair. Download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.