February 27, 2019
Businesses leaving themselves vulnerable to a failing of business continuity
By failing to properly explore what service provision is offered in the event of a serious incident such as flood or fire, businesses are leaving themselves vulnerable to a failing of business continuity, a new survey from Regus suggests. The survey found that 40 percent of businesses rely solely on what their workplace recovery provider tells them, or what is in their contract to protect them from a crisis. The lack of testing of recovery facilities by businesses also leaves them open to further disruption, with businesses at risk of finding that, in reality, the location they have been allocated is too small, with seats only available on a first-come-first-served basis, leaving business-critical staff unable to work.
Well over a third (40 percent) of UK businesses have experienced a cyber security breach or attack in the last 12 months, according to new government figures as it announces the UK is set to become a world leader in the race to eradicate some of the most damaging cyber security threats. The Business Secretary Greg Clark has promised that increased security and protections will be built into digital devices and online services with the help of up to £70 million in government investment through the Industrial Strategy Challenge Fund and backed by further investment from industry.
Office investment volume in Central London in 2018 is expected to come close to £20 billion, despite the ongoing economic and political uncertainties of Brexit. According to Savills London witnessed notably above average levels of office take-up in 2018 and achieved the best ever City of London rent (£80 per sq ft). The list of global businesses committing to long term leases has continued to grow with announcements in the last 12 months from Facebook, LinkedIn and Sidley Austin. The constrained development pipeline has seen more office pre-lets over 50,000 sq ft agreed in 2018 than ever before, while a shortage of available Grade A options has matured into a greater number of development opportunities. Savills also predicts a greater number of value-add and development opportunities coming to the market and that trading in London will insure the ongoing creation of the world’s best office buildings in a city where people will continue to want to work. This in turn creates new investment opportunities for global investors searching for prime assets.
