Search Results for: investment

January 28, 2014

International serviced office provider in first single floor letting for ‘Cheesegrater’

by Sara Bean • Company news, News, Property

British Land and Oxford Properties have announced the Leadenhall Building in the City of London – known as the ‘Cheesegrater’ due to its distinctive tapered profile – has been let to serviced office business Servcorp. The Sydney-based firm already provides businesses with flexible space in some of the world’s most famous buildings, including The Seagram Building, Park Avenue, New York, IFC 2 Hong Kong, Trust Tower Marunouchi, Tokyo and Emirates Towers, Dubai. This, the first single floor letting in the building, is on the 30th floor, which provides 11,851 sq ft of space. Because of the building’s design, floorplates range from 21,000 sq ft on level 5 to 6,200 sq ft on the top floor (level 45). More →

January 27, 2014

Cities report highlights skewed nature of UK economic recovery

by Mark Eltringham • News, Property

The Centre for Cities has today published its seventh annual report into the economic conditions in the 64 largest urban areas in the UK. The Cities_Outlook_2014 report paints a picture of a patchy economic recovery across the UK, with many cities such as Edinburgh, Birmingham, Manchester, Nottingham, Liverpool and Leeds seeing an upturn in their economies, but one that lags significantly behind that of London. The capital continues to disproportionately attract investment and people from across the UK and overseas, sometimes to the detriment of other towns and cities. The report argues that more power and finding needs to be devolved away from London to ensure that the UK enjoys a sustainable and balanced economic recovery.

January 20, 2014

Largest single office floor plate unveiled in Leeds as demand for space increases

by Sara Bean • Company news, News, Property

The largest single office floor plate currently available in Leeds city centre has been unveiled, following the completion of a £1million refurbishment programme at one of the city’s landmark office schemes. The NFU Mutual insurance firm, which owns No 1 Whitehall Riverside, has refurbished 34,000 sq ft of space within the building to transform the 4th and 5th floors. In a first for the Leeds office market, 100 per cent LED lighting has been installed on both floors, to provide low maintenance, good quality lighting which will reduce CO2 emissions for future occupiers. Joint letting agents Jones Lang LaSalle and DTZ say that the building, which provides 127,731 sq ft of office accommodation over eight floors, helps to meet increasing demand for quality office space in the centre of Leeds. More →

January 15, 2014

New study claims vast majority of builders now enjoying advantages of BIM

by Mark Eltringham • News, Property

A new report from McGraw Hill Construction claims that contractors in nine of the world’s top construction markets who use Building Information Modelling (BIM) believe that the technology helps them to improve productivity, efficiency, quality and safety on their projects, as well as their own competitiveness. The Business Value of BIM for Construction in Major Global Markets SmartMarket Report reveals that contractors in markets with well-established BIM use, such as Canada, France, Germany, the UK and US, as well as those in markets that are still in the initial stages of BIM adoption, such as Australia, New Zealand, Brazil, Japan, and South Korea, are seeing a positive return on their investments in BIM, from project benefits like reduced errors and omissions, to process improvements like the ability to enhance collaboration, and internal business benefits such as enhancing their company’s image.

January 14, 2014

Commercial property sector must take a city scale view of retrofit projects

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

Some 70 per cent of commercial properties will still be standing in 2050, which is why retrofitting, or re-engineering, a city’s built environment and infrastructure is so essential. However, research led by Professor Tim Dixon of the University or Reading’s School of Construction Management and Engineering has found that despite examples of ‘light touch’ retrofit (such as LED lighting, improved building services and building management systems), the rate of retrofit in the sector is low; being hampered by complexity, fragmentation and conservatism. And crucially, the commercial property sector does not take a city scale view of retrofit projects and so is ‘city-blind’ to retrofit opportunities, which is also slowing progress. More →

December 11, 2013

Remarkable resurgence of confidence in the UK commercial property market

by Mark Eltringham • News, Property

Edinburgh is one region enjoying a resurgence in confidence

The UK commercial property market is continuing its strong recovery, driven in large part by a resurgence in regional markets and financed by more adventurous borrowing by investors, a juxtaposition of three new reports reveals. According to Lloyds Bank’s twice yearly Commercial Property Confidence Monitor, around three quarters of the small and medium sized commercial property agents surveyed for the report expect a surge in activity over the next six months, led by especially strong confidence levels in Scotland, South West England, North West England and the Midlands. The results are mirrored in the latest Savills’ commercial development activity survey which found that the UK’s commercial sector grew at its fastest rate on record during November. Meanwhile, another report from Laxfield Capital claims that investors are willing to take on more debt for new deals to take advantage of the new confidence in the market.

December 6, 2013

Businesses missing the potential of property to benefit performance says BCO

by Sara Bean • Facilities management, News, Workplace design

The UK spent an estimated £28.5 billion on offices in 2012 – outstripping business expenditure on legal services (£24.3bn), accounting (£14bn) and insurance services (£23.8bn). Yet despite this, nearly three fifths (57%) of 250 senior executives from large organisations in a recent poll said property issues are not regularly discussed in the boardroom and responsibility for property is still likely to fall outside management teams. The research, carried out by the Centre for Economics and Business Research (Cebr) and Populus, found businesses take a very cost-centric view towards the workplace. Although almost three-quarters of organisations were constantly analysing and assessing whether their space is being used efficiently, cost was still found to be the most important factor in assessing the office’s performance (73%). More →

December 6, 2013

Don’t be caught by surprise by the hidden costs of commercial property

by Richenda Oldham • Comment, Facilities management, Knowledge, Property

According to Colliers International’s recent Global Investor Sentiment Report, 2014 will see an increase in commercial property investor confidence, with 74 per cent of UK based investors saying they were more likely to risk investing across all property sectors, although offices remain the most popular category to invest in. Yet despite this vote of confidence, it seems strange to report that the real costs involved in property acquisition and maintenance, are frequently overlooked by the purchasers. It appears that businesses often have a patchy knowledge of the range of costs involved in owning or leasing commercial real estate, which is surprising when you consider that a company’s biggest single investment next to its workforce is commercial property.

November 28, 2013

RICS ‘Think Strategic’ campaign opens with advice to FMs on cutting costs

by Sara Bean • Facilities management, News, Property

The Royal Institution of Chartered Surveyors (RICS) has published the first in a series of monthly articles offering practical advice from leading industry professionals for FM practitioners. It marks the beginning of RICS new ‘Think Strategic’ campaign designed to encourage FM professionals to think and act more strategically by providing the tools to develop an FM plan that will directly feed into their wider corporate objectives. The idea is to help FM leaders demonstrate the value of the profession to business and gain a competitive advantage. Click the link Why cutting FM costs can have a business-wide impact to access the first of the articles, which are all available to download for free from the RICS website. More →

November 19, 2013

2020 vision is a useless metaphor for far-sightedness in a number of ways

by Simon Heath • Comment, Facilities management, Furniture, Technology, Workplace design

The year 2020 is a mere seven years away. Yet the designers of the future workplace and those who invite them to talk about it are still referring to it as if it marks the next frontier of human endeavour and as if we weren’t already up to our collective armpits in the 21st century. The idea of 20/20 vision is considered, in ophthalmological circles at least, to represent “normal” visual acuity and is dependent on the sharpness of the retinal focus within the eye and the sensitivity of the interpretative faculty of the brain. In practical terms, this means it’s about seeing and interpreting what is directly in front of us at a distance of around 6 metres. So as a metaphor for farsightedness regarding the future of work or workplaces it’s always been a poor one. And as we get closer to the eponymous year, it becomes worse day by day.

November 14, 2013

As economy picks up, change management is greatest employment challenge

by Sara Bean • News, Workplace

The latest figures from the Office of National Statistics show that the unemployment has fallen to 7.6 per cent, its lowest rate in more than three years, and the signs are that employers can plan for the future with renewed confidence. In a poll conducted at the recent Chartered Management Institute’s National Annual Conference, 74 per cent of managers said market conditions for their business are currently more conductive for growth than they were last year. Their biggest management challenge in the coming year will be implementing change initiatives, with other priorities being: coordinating business development activities; getting the best performance out of their team; achieving results with fewer resources; internally promoting their department as a value-adding business partner; and managing and bringing through star performers.

November 12, 2013

Leading management bodies launch initiative to help employers value their talent

by Sara Bean • News, Workplace

Measuring the value of an organisation’s talent and its people management practices has remained stubbornly elusive. This has prompted a group of leading professional bodies to join forces to help businesses measure the impact of their people on organisational performance and better equip them to improve workforce skills and productivity. The ultimate goal of the ‘Valuing your Talent’ initiative by the CIPD, the UK Commission for Employment and Skills (UKCES), the Chartered Institute of Management Accountants (CIMA), the Chartered Management Institute (CMI), Investors in People (IIP) and the Royal Society for the Arts (RSA); is to develop an open framework for the measurement of human capital that will make good people management practices more visible, and encourage businesses to invest more strategically in their workforces.