Search Results for: financial

February 6, 2014

London office rents are set to reach historic high by 2018

London office rents are set to reach an historic high by 2018, fuelled by demand from the technology, media and telecoms (TMT) sector. Demand for office space by technology and media firms across central London was more than double of the finance sector in 2013, with major deals signed by Google, Amazon, Facebook, Twitter, News Corp, and Ogilvy & Mather. According to data from Knight Frank, record levels of overseas investment are helping London build its reputation as a global hub. Geographically, it is not just the City and the West End that are seeing a massive surge in demand; take-up in Docklands increased by nearly 20 per cent last year, while completely new districts are emerging which include London Bridge, Battersea and Nine Elms. More →

January 23, 2014

UK commercial property investment in 2013 hits a six year high

by Mark Eltringham • News, Property

Last year marked a six year high in commercial property investment across the UK according to a new report from property information providers CoStar, driven by increases in regional markets and a sharp upturn of interest in Central London from overseas investors. A total of £52.7 billion of transactions was completed across the UK in 2013, albeit that two-thirds of investments were made in London and the South East of England. It was also a year for record breaking deals, notably the Broadgate office development in the City (above) and More London on the South Bank, each of which were valued at £1.7 billion. London was particularly attractive for Asian investors who CoStar claim see it as a safe haven and invested £9.2bn, up 80.6 percent on 2012.

January 15, 2014

Legal update – Employment Law changes ahead in 2014

by Pam Loch • Facilities management, Flexible working, Legal news, Workplace

Some of the most hotly debated employment law issues from last year; including flexible working, workplace wellbeing and the contractual rights of employees look set to make more headlines this year, because 2014 is shaping up to be another year of significant change in UK employment law. While the timetable is subject to amendment, currently the Government is intending to introduce a number of revisions. The key employment law events and cases to watch out for in 2014 will include changes to TUPE, flexible working, flexible parental leave, employment tribunal procedures, redundancy consultation, Acas conciliation, calculation of holiday pay and post-employment victimisation; which we list below in the date order in which they are proposed. More →

January 6, 2014

The nine enduring workplace tensions to keep an eye on in the year ahead

by Mark Eltringham • Comment, Facilities management, Flexible working, Public Sector, Technology, Workplace

There were a number of workplace issues that wouldn’t go away during 2013. And there’s no reason to believe we will resolve many of them during 2014 either. We can try to explain the recalcitrance of such things by referring to the enveloping fog that emanates from the commercial interests who promote problems to their customers so they can provide the solutions, but many are more deep-rooted. Technology and its constant radicalising effects is almost invariably the major driver of change, but it is only one thread in a complex web of social, professional, demographic, cultural and commercial changes. So here, in no particular order, are the issues we expect to spend the most time talking about on Insight over the next year. More →

January 2, 2014

Take up of office space in Central London at highest level in six years

by Sara Bean • Facilities management, News, Property

Take-up of office space in Central London was almost 11m sq ft in 2013, way above the 2012 figure of 7.3m sq ft and an increase of more than 50 per cent year-on-year. According to the latest figures from Cushman & Wakefield, leasing activity to December increased across all Central London markets, with transaction volumes 22 per cent above the five-year average. It says that the number of transactions over 50,000 sq ft was a major driver of leasing volumes, with 30 deals signed during 2013 – the highest number since 2007. The Media and Technology sector saw most activity across Central London, accounting for 36 per cent of all letting volumes in 2013, up from 23 per cent in the preceding two years. 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.

December 5, 2013

New report finds lack of consensus in measurement of social sustainability

by Sara Bean • Environment, Facilities management, News

A lack of consensus on what is to be reported on and measured makes comparison difficult when measuring social sustainability. This is one of the key findings of the first annual Sustainable FM Index report, which examines how sustainability is embedded within facilities management service companies. Compiled by Acclaro Advisory, the University of Reading and Workplace Law; the index provides a comparative assessment of FM providers within the UK market. The results, which can be applied to internal and outsourced organisations, aims to showcase achievement, as well as highlighting areas of weakness to stimulate change and raise the delivery of sustainability. The companies which made the index, including Carillion, CBRE and Vinci facilities, have reported high levels of commitment to sustainability in terms of the governance, social and environmental criteria assessed. More →

December 1, 2013

Case study: dPOP’s jaw-dropping new offices light the road ahead for Detroit

by Rob Kirkbride • Case studies, Facilities management, Flooring, Furniture, Workplace design

If you think you know what’s going on in Detroit based on the stories of the city’s financial woes and pictures of some crumbling buildings, it is worth a visit to the offices of dPOP, the two month old design firm with origins in creating the award-winning office spaces for Quicken Loans and its family of companies.The design firm’s space in the basement of a long defunct Detroit bank embodies what being from the Motor City is all about — being tough, but talented; gritty yet glamorous; fun with a funky twist.They design like they don’t care what you think — and that might just be true. Their own offices and those they created for the 11,000 workers that were moved from divergent suburban sites to the center of Detroit are bold, bright and fun. Most of all fun. But the result is spectacular.

November 29, 2013

The meaningful aspects of what we do give us the greatest rewards

by Annie Gurton • Comment, Workplace

Charles Handy recently explained to attendees at Worktech 13 London why money is not the main motivating factor for employees; while at the same event, Claudia Hamm-Barstow of Jones Lang LaSalle added that the dream workplace is “a place where the company adds value to the employee experience, people feel valued and welcomed, the organisation feels meaningful, the work is rewarding and importantly there are no stupid rules”. According to The Human Givens Institute neither of these statements should be at all surprising. But The Human Givens theory adds that we also need to be respected, to feel in control, to have self-esteem, privacy and community. And, most crucially of all, we need to have purpose and meaning in our lives. More →

November 25, 2013

How a 70 year old happiness model is still helping us to define wellness

by Mark Eltringham • Comment, Workplace

This year marks the seventieth anniversary of Abraham Maslow’s hierarchy of needs, the model that still introduces most of us to notions of what makes people happy and fulfilled. Maslow first proposed the model in his 1943 paper “A Theory of Human Motivation” in Psychological Review, developing his ideas throughout the rest of his life. His work has been parallelled and built upon by other researchers since, but few have had the influence and longevity. Maslow’s hierarchical characterisation of human needs by category is ingrained into the minds of students all over the world. In the first of two pieces to mark this anniversary, Cathie Sellars of Workspace argues that Maslow continues to offers us the ideal definition of wellness.

November 21, 2013

Quality of the place and the pace of work is more important than money

by Sara Bean • Architecture, Events, Flexible working, Workplace design

O+A designed Aol’s new West Coast HQ

In a remarkable session on the future of work at Worktech 13 London this week – Charles Handy declared that organisations need passion, people and profit, in that order. Money isn’t the main motivating factor for individuals either, which is why Handy’s thoughts on the emergence of the portfolio worker should inspire anyone who dreams of quitting their corporate job to do something more interesting instead. Those who don’t have that option would have been cheered to hear the prevailing message at Worktech was that employers are waking up to the fact that the quality of the place and the pace of work (i.e. flexible working) is of equal importance to remuneration in attracting and retaining staff. More →