Search Results for: financial

July 7, 2015

Demand for East London offices rise as occupiers seek cost effective space

by Sara Bean • Facilities management, News, Property

The amount of leased office space in London over the first half of this year is 13 percent ahead of the same time last year, according to new research published by commercial property consultancy Cushman & Wakefield (C&W). Leasing activity totalled just over 6.26 million sq ft from January to June 2015, compared to the same point in 2014 when 5.6 million sq ft was transacted and is the highest Central London first half total since 1998, when 6.7 million sq ft was let. According to C&W, the figures presented in the report suggest that there was a significant upturn in activity in East London, with 1.2 million sq ft let, only marginally behind the City market (1.24 million sq ft) and significantly ahead of West End volumes (915,000 sq ft). East London offices take-up was at its highest level since Q4 2010 as a result of three transactions over 100,000 sq ft.

July 1, 2015

Three ways in which the business case for green building design is moving on

by Dan Callegari • Architecture, Comment, Environment, Facilities management, Workplace design

The case for sustainable building design used to be based on two straightforward principles. The first was that buildings had to offer up some sustainable features to comply with the ethical standards of their occupiers. The second was that there was some financial benefit. Often these principles went hand in hand, especially when it came to issues such as energy efficiency. They remain the foundations of the idea of green building design and are applicable across a range of building accreditations such as BREEAM as well as standards relating to specific products and policies. Over the past couple of years, however, we have become increasingly aware of other drivers that might make us all re-evaluate how we approach sustainability. These drivers are based on a more sophisticated understanding of green building design and the benefits for all of those involved.

June 30, 2015

Is the environment now a non-issue for building occupiers and managers?

by Mark Eltringham • Comment, Environment, Facilities management, Workplace design

This week, I took part in a series of debates in London and Manchester. The discussions, led by Rob Kirkbride of the US workplace design trade journal Monday Morning Quarterback, focused on workplace trends in North America and Europe, based on the issues that dominated the recent Neocon show in Chicago. This in turn is based on the premise that what suppliers talk about when they present their products in public reflects what their clients are saying to them. However, one subject we didn’t cover in any detail was the environment, because nobody was talking about it very much at Neocon. Indeed nobody seems to talk about it very much at exhibitions anywhere these days. While few would deny that sustainability is an important subject, could it be that it is now something of a non-issue for building occupiers and their suppliers?

June 25, 2015

Long distance commuting, agile working and dinosaur extinction in the UAE

by Douglas Langmead • Cities, Comment, Flexible working, Property

In Dubai, there are no suburban dinosaurs; those large-scale, single purpose office buildings that ignore the agile realities of modern working life. In the western world, these giants evolved on business parks, driven by the perceived benefits of having office workers agglomerated in order to achieve efficiency of communication and dissemination. The business practices and technologies that underpinned these buildings have evolved and improved and many are in the process of being re-purposed. Things happen on a grander scale in the Middle East where the mantra is “if the land-use doesn’t fit the land, make more land.” Here, the patterns of work and place have evolved differently from the west, and at a much faster pace with creeping tides of development spreading rapidly out from the small centres of traditional trade and commerce to vast tracts of new development.

June 16, 2015

Staff want flexible working but worry about growing fat, stale and lonely

by Mark Eltringham • Flexible working, News, Workplace

A new report from Regus, based on a study of 44,000 workers worldwide claims that while many people see flexible working as an important factor in their career choices, they also remain worried about what working from home will mean for their happiness, health, family lives and job prospects. The report claims that many workers are afraid that working from home will mean they grow lonely, overweight and stale. According to the report, home workers still long for a chance to mix with other professionals and so opt to pop out of the house regularly for a change of scenery and to reconnect with the real world. More →

June 11, 2015

Government urged by top organisations to combat climate change

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

In an open letter to the Financial Times, 80 UK businesses, including Willmott Dixon, Cisco, E.on, Kinnarps, UK-GBC and BT have joined with the Worldwide Fund for Nature (WWF) to call on the government to take action to combat climate change. It calls on the administration to; seek a strong global deal in Paris in December which limits temperature rises to below 2°C; set an ambitious 5th carbon budget to drive forward UK emissions reductions (covering period 2028-32) and establish a long-term framework for investment in the low-carbon economy. WWF-UK Chief Executive David Nussbaum said: “British business is ready to step up. From construction and energy to retail, the best British enterprises know that green growth is the future. They take on board that it’s no longer credible to base a sustainable economy on fossil fuels, so the Government should put us on track for a low-carbon world.”

June 3, 2015

IT firms hold TechNorth digital hub in higher regard than TechCity

by Mark Eltringham • Cities, News, Technology

TechNorth, the Manchester based technology hothouse devised as a regional counterbalance to London, is held in higher regard than the capital’s flagship TechCity development, according to research from recruitment firm Robert Half. The study of IT decision makers across the UK claims that the vast majority would prioritise working with Northern firms over their London counterparts, with 87 percent either ‘highly likely’ or ‘somewhat likely’ to place work with IT businesses in the TechNorth hub rather than those in TechCity London given the choice. The figure is 100 percent for IT leaders based in the North and to 95 percent for those in Scotland. More surprisingly, 80 percent of those based London and the South East said they would prioritise TechNorth, as did 75 percent in the South West and Wales.

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.