Search Results for: cities

Regional office take up in UK’s major cities hits five year low

Regional office take up in UK’s major cities hits five year low 0

by • News, Property

The latest research from real estate adviser GVA claims that Q1 2017 office space take-up across the UK’s ‘Big Nine’ regional office markets was at its lowest level for five years. At 23 percent below average, activity was particularly low in the city centre market where only Cardiff recorded above average take-up. Out-of-town markets were more resilient however with Bristol, Edinburgh, Liverpool and Newcastle recording above average take-up. Professional services made up 28 percent of all take-up over 5,000 sq. ft. in the city centres during Q1, slightly higher than the usual profile, led by legal and engineering firms. Deals to universities in Cardiff and Bristol meant that the education sub-sector made up 15 percent of activity. It was a strong quarter for the Technology Media and Telecom (TMT) sector, which increased its share to 18 percent compared to an average of 13 percent, while recruitment companies were also very active (9 percent of take-up).

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Western European cities ranked high by multinationals on quality of infrastructure

Western European cities ranked high by multinationals on quality of infrastructure 0

by • Cities, Facilities management, News, Property, Workplace

City infrastructure plays a key role when multinationals decide where to establish locations abroad and send expatriate workers, claims a new report. Mercer’s 19th annual Quality of Living survey now includes a supplementary question on city infrastructure, as easy access to transportation, reliable electricity, and drinkable water are all important considerations when determining hardship allowances based on differences between a given assignee’s home and host locations. Western European cities hold most of the top ten places in the city infrastructure ranking, with Frankfurt and Munich jointly ranking 2nd worldwide, followed by Copenhagen (4) and Dusseldorf (5). London is in 6th place, and Hamburg and Zurich both rank 9th. However, in terms of quality of living which is ranked separately, Vienna (pictured) occupies first place for overall quality of living for the 8th year running, and despite increased political and financial volatility in Europe, many of its cities offer the world’s highest quality of living and remain attractive destinations for expanding business operations and sending expatriates on assignment. In the UK, London is favoured for its overall quality of living and for its city infrastructure.

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London, New York and Hong Kong are most expensive cities to rent office space

London, New York and Hong Kong are most expensive cities to rent office space 0

by • News, Property

London has been named the third most expensive city in the world for office space, behind New York and Hong Kong, according to an analysis by Kit Out My Office on office rental prices. The analysis mirrors many similar studies that identify these cities as the most expensive on the planet in which to do business. The report looked at the cost of leasing office space of 10,000 square foot and associated business costs, such as property tax, service charges, and Internet access. However, all is not doom-and-gloom for businesses looking to relocate or start-up in London. Initiatives and grants are available for businesses, such as Enterprise Investment Schemes and R&D tax credits. The report claims that alongside being named the third most expensive city for office space, the decision by the UK to leave the EU has caused an air of uncertainty and posed many questions that are still unanswered. For example, how will EU workers be treated and will there be levies for companies that trade with Europe.

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UK cities now outperforming pre-crisis peak on key socio-economic indicators 0

by • Cities, News

The majority of UK cities and Local Enterprise Partnership (LEP) areas are now outperforming their pre-financial crisis peak, according to the latest 2016 Good Growth for Cities index, produced by PwC and the think-tank, Demos. However, a number of cities that have previously scored highly terms of jobs, incomes and business start-ups are beginning to experience growing pressures on housing affordability, transportation and work-life balance. The report also warns that the elements of the Good Growth index could be impacted by Brexit, with housing, jobs and income potentially seeing the largest effects.  However, it also points to post-Brexit opportunities including revised trade relations and regulations and the potential of new markets beyond the EU. Published today, the fifth annual Good Growth for Cities index measures the performance of 42 of the UK’s largest cities, England’s Local Enterprise Partnerships LEPs  and the new Combined Authorities against a basket of categories defined by the public and business as key to local socio-economic success.

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Nearly all UK cities lagging behind European average for productivity 0

by • Cities, News, Property, Public Sector, Technology

The UK’s major cities are lagging behind their European competitors in terms of skills, innovation and productivity, claims a new report from the Centre for Cities think tank. In Competing with the Continent, the authors argue that the onus is on the UK to come up to speed with the 330 cities covered in the report, especially if they want to compete in the new post Brexit European landscape. However, the report notes that the UK has a number of existing, structural advantages over other countries. UK cities generate around a fifth of Europe’s total economic output and contribute more to the national economy than cities in other countries. Major British cities contribute 60 percent of national GDP, compared to just 36 percent in Germany and 32 percent in Italy. The report shows that UK cities lag behind on a range of indicators including skills, innovation and productivity and a number have an industrial mix that has more in common with cities in Eastern Europe than those in the West.

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Smart cities will play essential role in meeting future energy demand

Smart cities will play essential role in meeting future energy demand 0

by • Cities, Environment, News, Property, Technology

Smart citiesThe changing energy demands of British cities are revealed in a new report published by Smart Energy GB and the Centre for Economics and Business Research. The report’s central claim is that urbanisation, economic growth and new technology will drive cities to meet their energy demands with the greater use of sustainable and renewable sources. The authors claim that  this is the first time that predictions about increases in energy demand in the UK have been analysed and published on a city level. The Powering Future Cities report suggests that this growing demand will primarily be driven by urban population growth, economic growth and a predicted surge in use of new technology, including electric vehicles. The report coincides with an announcement that the World Green Building Council has created a new partnership with the World Resources Institute-led Building Efficiency Accelerator (BEA) to fast-track improvements to energy efficiency within buildings.

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Opportunities and challenges crystallise for smart cities and buildings

Opportunities and challenges crystallise for smart cities and buildings 0

by • Case studies, Cities, Facilities management, News, Workplace design

Smart citiesGlobal law firm Osborne Clarke has released its fourth research report on smart cities and the future of the built environment. The new edition addresses a number of key issues related to the built environment and poses what it suggests are the two  key questions: How can the built environment become smarter? And what are the challenges and obstacles that might prevent this from happening? The report looks at case studies cross Europe and interviews experts in an attempt to discover how smart built environments ‘leverage data, new technology and innovative and collaborative thinking to deliver services that benefit citizens’. The report concludes that a fundamental  shift in thinking is already well underway but it is patchy and still faces a large number of major obstacles, not least a silo mentality in decision making which restricts the ability of organisations to innovate and achieve results across a broad base of objectives.

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Brexit uncertainty leads to drop in cost of living rankings for UK cities

Brexit uncertainty leads to drop in cost of living rankings for UK cities 0

by • Cities, Facilities management, News, Property

Moving to BirminghamUK cities have dropped down the ranking in Mercer’s annual Cost of Living Survey this year as Brexit fears weaken the value of the Pound, whilst the Euro stays strong against the Dollar. Although the UK’s capital remains in the top 20 costliest cities worldwide, London (17) has dropped five places, whereas Aberdeen (85) and Birmingham (96) have fallen seven and 16 places respectively. Further down the list, (119) has dropped 10 places and Belfast (134) three. The survey finds that factors including currency fluctuations, cost inflation for goods and services, and instability of accommodation prices, have all contributed to the cost of expatriate packages for employees on international assignments. Mercer’s survey covers 209 cities across five continents with Hong Kong ranking highest, pushing Luanda to second place. Ranking 3rd, Zurich is the most expensive European city, followed by Singapore (4) and Tokyo (5).

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Cities must lead the way in cutting carbon emissions says IEA

Cities must lead the way in cutting carbon emissions says IEA 0

by • Cities, Environment, Facilities management, News, Technology

Green citiesWith urban areas accounting for up to two-thirds of the potential to reduce global carbon emissions, cities must take the lead in the transition to low-carbon energy, says the International Energy Agency (IEA) in its annual report. Offering long-term pathways that could limit the global temperature increase to no more than 2°C, in line with the goals set at the Paris climate conference (COP21) in December 2015, the report suggests that the most cost-effective approach involves deploying low-carbon options in cities, especially in emerging and developing economies. Because buildings provide useful space to self-generate the electricity they consume: by 2050, rooftop solar could technically meet one-third of electricity demand. Such buildings offer significant demand potential for the roll-out of the most efficient technologies, like energy-efficient windows and appliances. However, international collaboration is essential, claims the report.

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Public neither knows nor cares about the coming era of smart cities

Public neither knows nor cares about the coming era of smart cities 0

by • Cities, News, Technology

Smart cities reportThe smart city is the poster child for the new era of immersive digital living, but the British public remains ‘clueless or indifferent’ about the nature of smart cities and what they will mean for their lives, according to a new report entitled: Smart Cities – Time to involve the people published by the Institution of Engineering and Technology.  The report claims that only 18 per cent of the British public has heard of a ‘smart city’ and many are unaware that city-wide technologies could improve the quality of life in urban areas. One third of respondents were unable to select the correct definition of a smart city from a list of options. Eight per cent of respondents opted for “a city that has a higher than average proportion of universities and colleges and aims to attract the most intellectual”. And a further five per cent saw it as “a city that has a strict cleaning regime for its buildings, roads and public places”.

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Hong Kong, London and Beijing most expensive cities for office space

Hong Kong, London and Beijing most expensive cities for office space 0

by • Cities, Facilities management, News, Property

Hong KongHong Kong is the world’s most expensive office location, followed by London, Beijing and New York.This is according to JLL’s Premium Office Rent Tracker, which compares like-for-like occupation costs across 24 cities around the world. This ranks Established World Cities such as New York and London, Emerging World Cities like Shanghai, Dubai and Mumbai, and New World Cities such as San Francisco, Boston and Toronto. The latest research shows that six of the top ten most expensive cities for office rentals are in Asia; with Hong Kong the world’s costliest office rental market on a net basis as well as including added costs such as service charges and property tax. The tracker found continued demand prime office space, despite a rise in economic uncertainty; while across the global cities, the technology, media and telecommunications sectors are moving into premium office space – previously dominated by the finance and professional services sector.

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World cities are victims of own success as high costs price out businesses

World cities are victims of own success as high costs price out businesses 0

by • Facilities management, News, Property, Technology, Workplace

New York CityThe two highest ranking global cities in the world, London and New York (as measured in the A.T. Kearney Global Cities Index), are also the most expensive for businesses and workers to occupy. According to Savills latest Live/Work Index, which measures the combined cost of residential and office rental per person per year across leading world class cities, the cost of accommodating an employee in London (US$112,800) is more than double that of Sydney, ($49,500). The average total cost of accommodation per worker, per year in the 20 cities that were measured is US$56,855, in a list that includes established world cities and some dynamic up and coming rivals, dubbed “upstarts” by Savills. The rise of the digital economy has pushed these smaller cities, such as Berlin (population 4.3 million) and Dublin (1.7 million) into the realm of world class city status; with San Francisco seeing the greatest price rise over 2015, up by 13 percent, compared to a 9 percent fall in Moscow and Rio de Janeiro.

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