Search Results for: cities

April 14, 2022

Half of large office occupiers plan to rethink their property requirements

Larger office occupiers are getting to grips with the fallout following the pandemic and are now reassessing their office property needs, according to a new YouGov survey commissioned by law firm Irwin Mitchell. The survey of over 500 office property decision makers shows that nearly half (46 percent) of large businesses and (39 percent) of medium sized companies plan to rethink their office space- whether by upsizing, downsizing, or relocating. The survey shows that one in five large businesses plan to increase their existing office space, with the same proportion looking to reduce space and 5 percent to relocate. In addition, 11 percent are looking to reconfigure their existing space. While 37 percent plan to stay the same. More →

April 14, 2022

Office costs creep up, but not because of higher rents

by Jayne Smith • News, Property

Higher fit-out costs and service charge growth, not rent rises are set to increase office occupier costs in 2022, claims a new report. Savills analysis of Q1 22 Prime Office Costs (SPOC) in global markets around the world has shown that higher fit-out costs, reflecting material and labour cost inflation, are beginning to creep through in some office markets. While overall there has been no movement in the position of cities in the rankings since the end of 2021, says Savills, some markets are experiencing rising costs in fitting out space and increased service charges. According to Savills this trend is most evident in Chinese cities, Kuala Lumpur, and in North American cities at the moment, but other markets across the globe are set to follow suit in the coming quarters.

Jeremy Bates, head of EMEA occupational markets at Savills, comments: “From higher prices for raw materials to increasing labour costs to keep up with rising inflation, it’s likely that most office occupiers will have to pay more to rent and fit-out their space in global cities this year.

“Whilst rent is the usual indicator of increasing cost, service charge rises and higher capital expenditure will represent the largest contributions towards increased occupier costs in the coming quarters. Even in markets where landlords tend to pay for fit-outs, these costs will eventually be passed on to occupiers later in the form of higher rents. Nonetheless, for many office occupiers the expense is unlikely to deter them from selecting top quality spaces in prime central business districts to attract and retain talent, although they are carrying out extensive data gathering exercises on how employees are using space before making decisions on exactly how much to take.”

Savills says that overall headline rents have, on average, remained flat in local currencies and the increasing additional costs have yet to appear across many markets, according to the international real estate advisor, with fluctuating exchange rates due to increased uncertainty producing the appearance of declining costs for many markets in Dollar terms during the first quarter of 2022, while in local currencies they have broadly remained consistent with Q4 2021.

April 13, 2022

Experimentation is the name of the game

by Eugenia Anastassiou • Comment, Facilities management, Flexible working, Workplace design

Uncertain times call for different measures and approaches, the old rules and playbooks are no longer applicable – so what are you going to do? Sit around, stagnate, hanker after old solutions trying to manipulate and squeeze them into new, unknowable, untried paradigms? No! One thing human beings are fairly good at is evolving and adapting to new and unknown situations and as we all know, being flexible and accepting change creates resilience and ensures survival. More →

March 29, 2022

MIPIM revival offers up a pale, stale imitation of life (but there’s hope)

by Freddie Steele • Comment, Property

If a week is a long time in politics, then two years in real estate is practically a lifetime. Time enough for an opportunity for MIPIM, the property world’s annual gathering in Cannes to reset itself post-pandemic. Unlike back in London where British Land had offered up space for Ukrainian care packages at its Paddington Central Campus and Quintain also pledge to make space at its Wembley Park space (as reported by Estates Gazette), unfortunately such correct reading of the room wasn’t the case on the Croisette. More →

March 22, 2022

KI furniture brings versatility and a sense of heritage to PwC’s new Belfast office

by Freddie Steele • Company news, Works Magazine

PwC, the global professional services provider, has made a significant investment in the city of Belfast by relocating its offices to Merchant Square. The move to the city centre comes from a desire to not only support the growth of the company, but to signal its confidence in the area and encourage other businesses to take a similar initiative. The new workplace is spread across 200,000 sq ft over nine floors and provides the regional hub for around 3,000 employees. The building is an amalgamation of three existing structures with a dramatic feature staircase linking floors four, five and six. The hope is that the new office will help to increase employee numbers over the next few years, meaning the design needed to have versatility as well as longevity. To meet both of these requirements, a wide range of KI furniture was specified by the lead interior designer, BDP. More →

March 21, 2022

Remote work one of the emergency measures that could cut energy use, says IEA

by Neil Franklin • Environment, Flexible working, News

In the face of the emerging global energy crisis triggered by Russia’s invasion of Ukraine, practical actions by governments and citizens in advanced economies and beyond can achieve significant reductions in oil demand in a matter of months, reducing the risk of a major supply crunch, according to new analysis released by the International Energy Agency. These efforts, including the uptake of remote work, would reduce the pain being felt by consumers around the world, lessen the economic damage, shrink Russia’s hydrocarbon revenues, and help move oil demand towards a more sustainable pathway, the IEA claims.

March 17, 2022

Co-living ideas explored in Davidson Prize longlist

by Neil Franklin • Company news, Flexible working

The judges of the 2022 Davidson Prize have selected a longlist of 14 teams. Responding to this year’s theme of Co-Living – A New Future, the longlisted teams represent diverse and exciting collaborative approaches to transforming the architecture of the home. The Davidson Prize is a design ideas and communication prize established in 2021 in memory of architectural visualisation pioneer Alan Davidson. Following the success of the inaugural Prize last year, in 2022 teams made up of architects working collaboratively with other disciplines were asked to consider whether current notions of home in the UK are keeping step with the 21st century. More →

March 17, 2022

Levelling up agenda failing to address city imbalances

by Neil Franklin • Cities, News

The UK’s smaller towns and cities are expected to show stronger economic growth than those that are larger and more metropolitan and there is an increased focus from the public on wellbeing, the environment and income distribution, according to PwC’s annual Good Growth for Cities report. Areas such as Bournemouth, Exeter and Plymouth, are expected to see the strongest gross value added (GVA) growth rates for 2021 and 2022, with cities in the North and Midlands continuing to lag behind despite the Government’s ‘levelling up’ agenda. More →

March 2, 2022

Sustainability doesn’t have to depend on high-tech solutions

by Chris McMahon • Architecture, Environment, Features, Technology

It’s a popular idea that the path to sustainability lies in high-tech solutions. By making everyday items like cars electric, and installing smart systems to monitor and reduce energy use, it seems we’ll still be able to enjoy the comforts to which we’ve become accustomed while doing our bit for the planet – a state known as “green growth”. But the risks of this approach are becoming ever clearer. Many modern technologies use materials like copper, cobalt, lithium and rare earth elements. These metals are in devices like cell phones, televisions and motors. Not only is their supply finite, but large amounts of energy are required for their extraction and processing – producing significant emissions. More →

March 1, 2022

Mindspace signs up for two new locations in Berlin

by Freddie Steele • Company news, Property

Flexible office provider Mindspace has announced it will occupy 7,000 square meters of office space, a lobby and several roof terraces in Berlin’s FÜRST. The landlord for the project is the FÜRST Projektgesellschaft. The premises are part of the first construction phase of the district development, which was already completed in October 2020 on Berlin’s well-known Kurfürstendammwith a total of 19,000 square meters of commercial space and an additional parking garage with more than 500 parking spaces. In addition, Mindspace has also announced the appointment of its new global VP of Real Estate and Projects, Ana Nekhamkin.

The FÜRST Projektgesellschaft is developing a site of 20,000 square meters in the prime Kurfürstendamm location in an area that extends over 97,000 square meters of commercial rental space for retail, office, lifestyle and art. Based on the design of the architectural firm Kleihues + Kleihues, in addition to the revitalisation of an entire block, a new public square will be created for Berlin’s City West.

With Ku’damm being one of the most important shopping streets in Germany, Mindspace secures yet another flex office of over 7,000 square meters in a AAA Berlin location.

Besides FÜRST, Mindspace is opening a second new location in Berlin on Zimmerstraße, which marks the 10th German location for the company. The two new locations in Kurfürstendamm and Zimmerstraße are scheduled to open in July 2022 and both will be close in proximity to the three existing Mindspace offices on Berlin’s Friedrichstraße, Skalitzer Straße and Krausenstraße (pictured).

The new Mindspace Zimmerstraße can be found at the historic border of the Berlin Wall and covers 4,500 square meters on eight floors.

“Germany is a key market for Mindspace and our expansion in Berlin is one of the many to come. Currently our occupancy rate in Germany is over 95 percent and in some cities, even more. Mindspace is on a path of growth and we’re excited to have such great partners by our side for the journey,” says Oliver Lehmann, General Manager Mindspace Germany.

Mindspace currently operates 32 locations in 17 cities, and following their recent funding of $72 million of equity capital, the company is following through on its promise to continue expanding its proven offerings to meet the high demand. A significant part of the expansion is planned for Germany, and specifically Berlin as it’s a hub for startups, tech companies and creatives.

February 23, 2022

We need a growth mindset for buildings to make them adaptable

by Matthias Rebellius • Comment, Environment, Property, Technology

The world is in a race. And it’s a race against time – against rising sea levels, overcrowded cities, and a virus that has shown us a thing or two about being adaptable. Although the current developments around infection rates and the omicron variant are cause for hope that the virus will soon become endemic, the experience of the last two years have emphasized something important: There is an urgent need to transform infrastructure across different dimensions – one of which is the physical space: the changing needs and expectations of people in their buildings, factories, facilities, offices and homes call for adaptability. More →

February 21, 2022

Who watches the workplace watchmen?

by Mark Eltringham • Comment, Technology

One of the world’s best known and most enduring foundational psychological experiments does not appear to be as clear cut as we commonly think. It was back in 1961 that a team led by the American psychologist Stanley Milgram asked a number of ordinary people to administer what they believed to be increasingly high levels of electric shocks to a person in another room while listening to their responses. More →