Search Results for: investment

November 25, 2014

UK business centres market continues to flourish, claims BCA and IPD report

by Mark Eltringham • Flexible working, News, Property

A new report has revealed just how important the growing business centres market is to the UK economy. According to the report from the Business Centre Association and Investment Property Databank the market is now comparable to the City of London both in terms of the number of people employed and the amount of office space it occupies. The report also outlines both the market’s robust health during the recent economic downturn and ongoing growth in response to increasing customer demand and the changing market for office space. The sector now boasts that it provides a home to some 80,000 businesses employing more than 400,000 people who occupy around 70 million sq. ft. of space including landmark developments such as the Regus No 1 Poultry centre in the City of London (above) and generate around £2 billion of income for the economy. The report, produced in conjunction with Snapdragon Consulting, found that the serviced office sector in the UK now represents around one third of the global market.

November 24, 2014

Derry is the latest city to offer free Wi-Fi in all public places

by Mark Eltringham • Cities, Flooring, News, Technology

The City of Derry in Northern Ireland has announced that it is to introduce free Wi-Fi in all public places. The local council is to work with local business owners to introduce the programme in conjunction with the national Super Connected Cities scheme funded by the UK Government’s Department of Culture, Media and Sport’s Urban Broadband Fund. Full rollout of the programme is expected by the first half of next year and will be accessible to anybody who registers for unlimited access to the city’s network. The initiative claims that it ‘is geared towards increasing digital engagement and energising cultural and economic activity within the city. The network will be available for free public use, with the benefits of being easy to connect, filtered for user protection and scalable for future expansion.’ Derry is Northern Ireland’s second largest city and has in recent years focused inward investment on the digital sector. Last week, we reported on how the Italian Government is looking to offer free Wi-Fi in all public places across the country.

November 24, 2014

Latest Insight newsletter: weaving together the strands of people, place and technology

by Sara Bean • Environment, Facilities management, Flexible working, Newsletter

The latest issue of the Insight weekly newsletter is now available to view online. This week; reflecting on the key messages of this year’s Worktech conference, Sara Bean and Mark Eltringham concur that while the office may be entering a new phase, we still have a need for human interaction and a place we call the workspace. Ergonomics expert Lee Jones warns that the leap in the number of cases of workplace musculoskeletal disorders is a reminder there is a world of difference between an iPad on a sofa and a PC on a workstation and Sam Robins comments on Government plans to measure wellbeing. In news; why the UK’s largest companies are calling for the greater uptake of flexible working, green building credentials become a driver of investment performance and the gender pay gap reaches its lowest point in history. If you don’t already receive a copy, please sign up using the simple subscription form in the right hand sidebar and don’t forget to follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

November 19, 2014

Commercial property market sees significant shift in attitudes to green building

by Mark Eltringham • Environment, Legal news, News, Property

The UK commercial property market is experiencing a major attitudinal shift towards green buildings according to GVA’s fifth Green to Gold report. The biannual survey questions commercial property investors on their understanding of market perceptions of the value of sustainability criteria and gauges their attitudes towards regulation and related issues. The latest edition of the study published this month claims that the market ‘no longer views sustainability as a nice to have’ with more than half of those questioned considering green building credentials as a key driver of investment performance. Perhaps unsurprisingly this belief strengthens with regard to longer term investments. The research also found that nearly all (94 percent) of those surveyed now had a sustainability policy in place at either the organisational or fund level and 59 percent of respondents said that three quarters of their portfolios have been assessed against sustainability criteria, compared with just a quarter in 2012.

November 14, 2014

EU institutions are not implementing their own green building policies

by Mark Eltringham • Environment, Facilities management, News, Public Sector

According to a report on EU news site euractiv.com, the various institutions of the European Union have been ‘unambitious’ in terms of delivering energy efficiency as part of their own buildings strategies. That is the key finding of a new study from the European Court of Auditors. which claims that green building standards and initiatives developed and promoted by the EU are not consistently employed for new buildings or as part of major renovation projects carried out by bodies such as the European Commission, European Parliament, EU Council and other institutions. The special report reveals shortcomings in the approach of these bodies, calls on the EU Commission to propose a common policy for reducing the carbon footprint of EU institutions and bodies and proposes the setting of an overall reduction target for greenhouse gas emissions by the year 2030. The report claims that it is through the design processes of a new building, or for a major renovation, that the greatest impact can be made on its energy performance and this should be the focus of its proposed new approach.

November 13, 2014

Staff would forgo a higher salary to feel more valued by their employers

by Sara Bean • Flexible working, News, Workplace

Employees would give up a higher salary if it meant they could work for an employer that regularly thanks its employees for their efforts. Nearly three quarters workers stated that employee benefits were more attractive than a pay rise, with 71 per cent preferring to work for an employer that offered an effective benefits and rewards package, than take a job with a higher salary. The research conducted by One4all rewards, found that improved benefits can increase an employee’s loyalty to the company, with 68 per cent of those surveyed stating that being regularly thanked for their efforts would be rewarded with loyalty to their employer, and 34 per cent claiming they would be very unlikely to leave a position if they were shown regular appreciation and praise. In addition, a work place that failed to offer or show appreciation for staff members would fail to attract new employees – as 17 per cent stated they would turn down a job offer if no employee benefits were in place.

November 11, 2014

More than three-quarters of workers are reluctant to switch employer, finds CIPD

by Sara Bean • News, Workplace

There is little appetite among workers to switch employer, despite the growth in employment prospects in the UK. This is according to the CIPD quarterly Labour Market Outlook report which suggests that employment will again grow strongly in the final quarter of 2014 but wage growth is likely to remain subdued. The latest report shows that near-term employment expectations have risen to a seven year high, which can be partially attributed to fewer employers looking to make redundancies, as well as an expected continuation of the trend for many employers to be hiring new staff. The proportion of employers reporting hard-to-fill vacancies is broadly unchanged (44%) and two fifths of these are reported as ‘skill shortage’ vacancies. With over three-quarters (77%) of employees saying that they aren’t currently looking to change employers, there is a resultant reduction in churn amongst the existing workforce. This, combined with a growing number of EU immigrants and older people seeking work and an ongoing skills shortage, goes some way to explaining weak pay growth. More →

November 5, 2014

Employers warned that landmark legal decision could cost them dearly

by Sara Bean • Legal news, News, Workplace

A ruling by the Employment Appeal Tribunal (EAT) is significant and could be potentially financially crippling, employers have been warned, following yesterday’s ground-breaking decision by the EAT to uphold an earlier Employment Tribunal’s decision that both compulsory and voluntary overtime must be included in addition to basic salary for the purposes of calculating a worker’s holiday pay. According to Shivali Chaudhry, an Employment solicitor at law firm Hamlins LLP: “Not only will employers have to increase the amount of holiday pay they pay workers to take into account all overtime, they may also face historic underpayment liabilities going back up to 16 years in respect of some workers.” However, Mike Emmott, Employee Relations Adviser at the CIPD says the ruling still leaves much to be resolved – particularly on the issue of backdating. He said: “The ruling means that employers will have to change how they calculate holiday pay in future to take account of voluntary overtime. However it does seem to have limited the scope for substantive retrospective claims, which was the biggest concern in terms of possible costs for employers.” More →

November 4, 2014

Built environment argues economic benefits of meeting climate change challenge

by Sara Bean • Environment, Facilities management, News

Following the publication of the latest Intergovernmental Panel on Climate Change (IPCC) report, warning about the effects of global climate change; the chief executives and senior leaders of 18 major businesses in the construction and property sector have written an open letter, published in The Daily Telegraph to highlight the economy opportunity presented by climate change and to defend the UK’s ground breaking Climate Change Act. In the letter, which includes signatories from Land Securities Group, BAM Construct and Balfour Beatty, the leaders warn that “undermining of the Climate Change Act is deeply unhelpful, and creates uncertainty”, and that “it should continue to be the central framework against which to deliver clear and consistent policy. It states: “Our businesses are convinced that Britain can and should be a world leader, and that far from being a burden to UK Plc, clear commitment to tackling climate change will open up opportunities for businesses both at home and abroad.”

October 28, 2014

Four-building Hammersmith office development acquired by AXA

by Sara Bean • Company news, News, Property

A 193,000 sq ft (17,930 sqm) office property based in Hammersmith West London has been acquired by AXA Real Estate. 77 Fulham Palace Road comprises four buildings: Hamlet, Horatio, Ophelia and Elsinore and is currently let to 19 tenants. It has a wide range of floor sizes across the four buildings and unusually for Central London has 221 parking spaces. Given a current lack in supply of Grade A office space in West London, AXA has indicated that it will increase the current floor space at the property by 18,900 sq ft (1,755 sqm), and transform it into Grade A office space. This expansion would be undertaken alongside a planned refurbishment of some of the buildings, to enhance their overall functionality and design, adding to the current facilities on offer. Huw Stephens, Head of UK Transactions at AXA said: “At 77 Fulham Palace Road we have identified an opportunity, through a number of asset management initiatives, to add value to a core, well located asset in London. By utilising the expertise of our local asset management teams, we will be able to improve the tenant mix, whilst delivering investment performance to our clients.”

October 28, 2014

New BREEAM environmental standard launched for UK office refurbishment and fit-outs

by Charles Marks • Architecture, Environment, Legal news, Property, Workplace design

The Building Research Establishment (BRE) has launched the latest addition to its flagship sustainability accreditation scheme. Launched fully at MIPIM UK, the Building Research Establishment Environmental Assessment Method (BREEAM) Refurbishment and Fit-Out 2014 standard has been in development for around two years, a period which has included consultations with some of the UK’s largest commercial property occupiers, end users as well as a full assessment of a pilot project at BRE’s base near Watford. It joins existing BREEAM standards as a way of assessing the sustainability of office refurbishment and fit-out projects in the UK and overseas. The standards were tested on a simulated refurbishment project at the BRE site and achieved, in the words of the organisation, “significant savings as well as many other positive learning outcomes”. Firms which took part in the two year development and consultation period included Lloyds, Boots, Legal & General and The Green Investment Bank.

October 15, 2014

Work begins on ‘living laboratory’ to test eco-build products

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

According to Constructing Excellence, buildings collectively account for around half the UK national output of carbon dioxide. To help address this, work has begun on the construction of a new £1.4 million ‘living laboratory’ at the Eden Project in Cornwall, where new eco-build products can be installed, tested and monitored. The Green Build Hub (GBH), is designed as a training centre that encourages inward investment by specialist green suppliers by enabling them to showcase and test innovative products. The project, by the Cornwall Sustainable Building Trust (CSBT), made possible by an investment of £1.1 million from the European Regional Development Fund Convergence Programme, aims to deliver a BREAAM ‘Outstanding’ building that acts as a resource of specialist green building knowledge. The GBH design team includes Gilbert & Goode Ltd, Ward Williams Associates, PBWC Architects, Hoare Lea, CDEC Ltd and TClarke Ltd; with an expected completion date of June 2015. More →