Search Results for: financial

May 24, 2015

More intensive space use is helping to drive down office costs worldwide

by Mark Eltringham • News, Property, Workplace design

Office costs are falling worldwide, in part because occupiers are using space more intensively, according to the latest Office Thermometer report from commercial property firm DTZ. The report found that the West End of London has comfortably retained its position as the world’s most expensive location. The average annual cost of a workstation in the area is $29,000 (about £19,000), fully a third higher than second placed New York. The report found that office costs continue to fall significantly in most regions, nearly 4 percent overall on average, although there were increases in fast growing local markets, especially in the Middle East. According to the study, more intensive use of office space by occupiers, an appreciating US dollar, weak economic growth in Europe and significant new supply in emerging markets have combined to cut costs worldwide.

May 21, 2015

Over two thirds of UK staff care about energy efficiency at work

by Sara Bean • Environment, Facilities management, News

New research claims that 68 percent of UK workers care about energy efficiency at work and of these, 22 per cent said they care a great deal. The survey by YouGov for British Gas Business found that Hospitality and Leisure workers care the most – 82 percent – about saving business energy. Other industries that ranked highly were Financial Services (77%) and Manufacturing (76%). With almost two thirds (62%) confirming that their workplace invests in saving energy, it is clear that it is important for companies and organisations to be energy efficient. Yet, less than half (43 %) of workers said that their company or organisation ensures that all lights and computer screens are switched off when not in use and less than 1 in 5 (18%) said they conduct a regular energy audit.

May 21, 2015

TMT and finance sectors drive demand for London office construction

by Sara Bean • Facilities management, News, Property

The total level of office construction in central London has increased over the past six months, fuelled by the greatest volume of new space to start since 2011, the latest Deloitte London Office Crane Survey has revealed. With a rise of 24 per cent over the past six months, a new wave of office construction in central London is under way across almost all submarkets. This comes at a time when the level of available office space is at its lowest for seven years, with current market conditions still suggesting a short-term supply shortage. However, the ramping up of new developments over the last six months has come too late to significantly alter the delivery of new space in 2015. TMT and the financial sector are driving up demand for more office space.

May 19, 2015

Broadband faults are more annoying than car breakdowns, claims study

by Mark Eltringham • News, Technology

Following last week’s report that people would rather lose an unspecified finger than their broadband connection, a new report from comparison site Cable.co.uk claims that people generallly believe that losing their broadband connection for any period of time is more annoying than their car breaking down. Based on a survey of 2,500 UK residents, users also voted broadband disruption more annoying than receiving bad customer service, their boiler failing, waiting in for a delivery that doesn’t turn up and transport delays. Broadband drop-outs were given an average score of 9 out of 10, with 10 being extremely annoying. Half of users rated it 10 out of 10. The report’s authors conclude that this is likely to be because of feelings of a lack of control and an inability to communicate, something we now take for granted.

May 12, 2015

Commuting costs the UK £148 billion annually, claims new report

by Mark Eltringham • Flexible working, News, Workplace

In spite of the growth of flexible working in the UK, commuting to an office each day costs British workers and the national economy some £148 billion annually. That is the key finding of a new report from recruitment firm Randstad. The study claims that an average commute for staff in the UK covers around 22 miles, taking around 43 minutes. The report claims that the time spent commuting continues to increase as people move further away from their main place of work, especially in the South East and North West of England. London workers – unsurprisingly – spend more than anybody else on commuting. There are also major differences across sectors with the workers in financial services, accountancy and IT industries subject to the most costly commutes.

May 11, 2015

Does declining productivity spell the end for IT and property directors?

by John Blackwell • Comment, Facilities management, Property, Technology, Work&Place

When it comes to increasing organisational output, which in turn directly relates to real wage growth and higher living standards, the only determinant is productivity, measured in terms of output per hour worked. This is at the heart of all businesses and is essential for growth. The basic facts on productivity are clear. For over a decade, productivity has been painfully weak across all the major economies. The UK has performed particularly badly, with productivity having declined by 3.7 percent since 2008. A recent OECD report went as far as saying: “weak labour productivity since 2004 has been holding back real wages and well-being. The sustainability of economic expansion and further progress in living standards rest on boosting productivity growth, which is a key challenge for the coming years”.

May 5, 2015

A responsible approach needed for the design and build of London’s towers ⁰

by Paul Chilton • Architecture, Comment, Property

There are currently over 260 new towers either proposed, approved or under construction in Greater London, a 12 per cent increase on last year. There has been much debate and concern about the impact of the design and build of so many new towers on the capital and in particular the visual impact. The Skyline Campaign was launched last year with signatures from over 80 public figures hoping to halt the ‘destruction’ of London’s skyline. London is a busy city, on a small island with limited space. Towers allow us to create residential and commercial property using a minimal amount of land. However it is vital that new buildings that are tall enough to have a visual impact have the right design, are in the right place, and are built at the right time.

May 5, 2015

UK digital infrastructure struggling to keep pace with demand

by Mark Eltringham • Flexible working, News, Technology

The UK is struggling to create the digital infrastructure it needs to keep up with burgeoning employment and investment levels in new technology. A new study from IT recruitment firm Experis claims there has been an 18 per cent increase in the number of permanent job roles in the IT sector advertised across the UK in the first quarter of 2015. Meanwhile, a report from Santander’s commercial business division claims that the UK’s SMEs are planning to invest £53bn in digital business over the next two years. All of this should be good news except for the fact that digital experts are warning that the UK is about to hit the digital buffers over the next two decades, according to experts who will present their findings to the Royal Society next week.

May 1, 2015

Rubberstamp for relocation of HSBC headquarters to Birmingham ⁰

by Mark Eltringham • Cities, News, Property

Unsurprisingly, the high profile relocation of HSBC to a new base in Birmingham has been rubberstamped by the city’s council. Despite HSBC’s recent threat to quit the UK completely, the planning committee has confirmed that the move, first announced in March, will go ahead as planned. The new 210,000 sq. ft. landmark building at the 2 Arena Central mixed use scheme has been designed by Ken Shuttleworth for handover to HSBC in 2017. The move to Birmingham has been largely attributed to the bank’s reaction to the financial crisis and the subsequent climate of legislative reform and public criticism. HSBC has longstanding links with the West Midlands and The Birmingham Post reported recently that it may resurrect the name Midland Bank as it relocates 1,000 staff to the UK’s heartland.

April 30, 2015

Three workplace issues that could help to shape the general election ⁰

by Mark Eltringham • Comment, Flexible working, Legal news, Technology

With only a week to go until the general election, nobody seems clear on what exactly will happen at the polls, least of all the voters. The BBC’s political correspondent has described it as the Vanilla Election, with the major parties paralysed by the closeness of the race into not doing anything bold or imaginative enough to spook an ambivalent and undecided electorate. With little to differentiate the parties and an unprecedented degree of cynicism fuelled by social media and online commentary, it seems likely that voters may be swayed by what may in the past have been peripheral issues. Over the past few days several news items have even hinted that workplace related issues might have a role to play in making up people’s minds. Here are three.

April 23, 2015

Proposal to fund development of Grade A office space in Northern Ireland ⁰

by Sara Bean • Facilities management, News, Property

Plans to develop a scheme that ensures Northern Ireland has enough Grade A office space to meet its needs has been launched by business development agency Invest NI. It follows the publication of a report that found while demand for Grade A offices has remained relatively steady over the past three years, with no new development taking place, both the overall supply and Grade A supply has fallen steadily. Of the total supply, only around 320,000 sq ft is classified as Grade A, 250,000 sq ft of which is located in Belfast City Centre. Nearly a quarter (21%) is contained within units that are smaller than 10,000 sq ft, a further 36 percent within units sized between 10-20,000 sq ft and there are only three office buildings across Northern Ireland that could offer space exceeding 20,000 sq ft.

April 15, 2015

Flexible workforce ignoring data risks of BYOD and mobiles ⁰

by Sara Bean • Flexible working, News, Technology

The use of BYOD (Bring Your Own Device) practices by an increasingly flexible workforce is posing huge risks to the data security of employers. Six out of ten employees routinely share their work and personal devices with others, nearly a fifth of employees don’t have passwords on devices, and 22 percent admit they don’t have security measures in place. The “Securing #GenMobile: Is Your Business Running the Risk” security threat study, questioned over 11,500 workers across 23 countries and found that attitudes have moved towards more sharing of devices and an indifferent view to security in the workplace. This high risk attitude to data security, which is more prevalent amongst younger workers is being overlooked by employers with over a third saying they have no mobile security policy in place.