Search Results for: commercial

Act now on retrofitting if you want to boost commercial property values, new report argues

Act now on retrofitting if you want to boost commercial property values, new report argues

For European real estate owners and investors already on a journey to net-zero-carbon through retrofitting, upfront spending has the potential for long-term rent and capital-value accumulation, according to a new report from Colliers. Europe’s Renovation Wave [registration] explores the regulatory and societal pressures the authors claim is now driving an era of accelerated asset renovation, and the proactive actions investors, owners and occupiers can take to make sure their assets are not ‘left behind and stranded’ in the race to decarbonise the built environment by 2050. Retrofitting is also the subject of a special supplement published in the new issue of IN Magazine. More →

Commercial Interiors UK appoints new managing director

Commercial Interiors UK appoints new managing director

Commercial Interiors UK (CIUK), the Trade Association for the UK’s Commercial Interiors Sector has appointed Sean Holt as its new Managing Director. As the new Managing Director, Sean will be responsible for leading a dedicated team to deliver the revised strategy of CIUK following its recent re branding from BCFA, improving member engagement and  benefits, increasing membership and growing the CIUK events portfolio whilst working closely with  its media partner Design Insider to build on its growing reputation as the premier online portal dedicated to commercial interior designers and architects. More →

JLL claims it has unveiled the first GPT model for commercial real estate

JLL claims it has unveiled the first GPT model for commercial real estate

JLL offices London

JLL has announced the launch of JLL GPT, which it claims is the first large language model purpose-built for the commercial real estate sector. Developed by JLL Technologies, the firm claims the bespoke generative artificial intelligence (AI) model will be used by its 100,000 plus workforce around the world to provide CRE insights to clients in what it believes will be a whole new way. JLL’s extensive in-house data will be supplemented with external CRE sources, and the company plans to offer made-to-order solutions to clients later this year. More →

The retrofit of commercial property should be prioritised over new buildings

The retrofit of commercial property should be prioritised over new buildings

A retrofit first principle is advocated in a new reportA retrofit first principle is advocated in a new report, Transform & Renew – Making non-domestic buildings fit for a low carbon future from building consultancy Mace. That and other recommendations set out in the report aim to promote the re-use and repurposing of existing non-domestic buildings which make up about an eighth of total UK building stock but account for a quarter of its carbon emissions. More than 3.5m such buildings require retrofit in the next ten years, Mace suggests in the report. More →

MIPIM 2023 confirms that green sells. But is commercial real estate buying?

MIPIM 2023 confirms that green sells. But is commercial real estate buying?

MIPIM may have returned last year, but 2023 was the year it felt backMIPIM may have returned last year, but 2023 was the year it felt back. That was despite widespread concerns over the rising costs of refinancing and a banking crisis that started with the collapse of Silicon Valley Bank in the US and quickly moved to Europe, with Swiss financial regulators beginning to put together during MIPIM week the deal that would see UBS buy Credit Suisse in an emergency rescue. More →

Vast majority of IT managers prioritise commercial success over sustainability

Vast majority of IT managers prioritise commercial success over sustainability

A new poll claims that the vast majority of tech managers prioritise commercial success over sustainability, despite the fact that nearly all agree with the idea that sustainability is good for businessA new poll claims that the vast majority of tech managers prioritise commercial success over sustainability, despite the fact that nearly all agree with the idea that sustainability is good for business. The report from Software AG is based on a survey of 2,000 senior IT decision-makers from the US, Canada, UK, Germany and France. It suggests that most organisations prioritise commercial objectives over sustainability in the face of economic challenges. This is despite the fact that almost all (95 percent) leaders agree sustainability is either a top or high priority and a similar number (97 percent) agree that other firms’ sustainability credentials are either essential or important in their own buying decisions. The annual Reality Check reports seeks to investigate how technology initiatives can benefit both sustainability and commercial objectives. More →

Commercial property values and returns fell significantly in 2022

Commercial property values and returns fell significantly in 2022

London and UK commercial propertyUK commercial property capital values decreased significantly in 2022, and annual total returns were also down, according to the latest CBRE Monthly Index. Capital values decreased 3.0 percent across all UK commercial property in December 2022. Rental value growth for the month was 0.2 percent and total returns were -2.6 percent. For 2022 as a whole, capital values fell 13.3 percent, and annual total returns were -9.1 percent, according to the report. More →

BCFA rebrands to shape the future of commercial interiors

BCFA rebrands to shape the future of commercial interiors

A modern office interior to demonstrate the new approach to commercial interiorsCommercial Interiors UK, is to be the new name for the BCFA – the UK’s largest trade association representing the commercial interiors sector. Its 250+ members represent leading manufacturers, suppliers, and designers – all shaping inspirational commercial interiors internationally. The rebrand comes after an in-depth strategic review ensuring that this highly respected trade association continues to deliver unrivalled support to its members, addressing the business challenges they face, and in doing so, championing issues affecting the commercial interiors sector as a whole. More →

Commercial property sector should embrace circular economy, say BCO

Commercial property sector should embrace circular economy, say BCO

A man relaxing in a green office space to illustrate the circular economy in the commercial property sectorA new report from the British Council for Offices (BCO) is urging the commercial property industry to ‘retain, extend life, reduce impact’ to futureproof offices. The report sets out to provide circular economy guidance to the office sector in relation to new-build, refurbishment and fit out. The Circular Economy in Offices report [BCO members only] claims to set out how offices can be designed and constructed in order to eliminate waste and pollution, circulate products and materials and regenerate nature. More →

Demand for sustainable commercial property rises modestly, but supply side still falls short

Demand for sustainable commercial property rises modestly, but supply side still falls short

sustainable commercial propertyProgress is being seen in some aspects of the built environment on the drive to be more sustainable, according to the latest annual sustainability report produced by RICS, however the rate of advancement needs to accelerate significantly and become more widespread. The 2022 RICS Sustainability Report, which collated sentiment from almost 4,000 chartered surveyor contributors, around 1200 of which are from the UK, across commercial and construction sectors globally, shows that some improvement in the push for sustainability has been made in the past year, notably in the commercial real estate sector as demand for sustainable commercial property continues to rise. More →

Commercial property values fall during July

Commercial property values fall during July

commercial propertyCapital values decreased 0.5 percent across all UK commercial property in July 2022, according to the latest CBRE Monthly Index. Over the month, rental value growth was 0.3 percent. Total returns were -0.1 percent. In July, capital values for the office sector decreased 0.1 percent. Capital value growth was pulled down by Outer London and M25 offices and offices in the rest of the UK both reporting a decline of 0.3 percent. Central London offices posted a capital value growth of 0.1 percent. Rental values for the office sector increased 0.1 percent in July. Rental growth was driven by Outer London and M25 offices (0.4 percent) and rest of UK offices (0.3 percent). In July, total returns for the office sector were 0.4 percent. More →

Commercial real estate enters downturn in UK, claims RICS

Commercial real estate enters downturn in UK, claims RICS

commercial real estateThe UK’s commercial real estate market is entering or might already be in a downturn, according to an industry survey from the Royal Institute of Chartered Surveyors. As higher interest rates push up investors’ financing costs and economic sentiment takes a dive, 43 percent of respondents to its quarterly commercial property survey thought the sector was in the early stages of a downturn, and a further 10 percent thought it was in the middle of one. By contrast, three months ago 53 percent said the sector was in the early or middle stages of an upturn, a proportion that has now slumped to 22 percent. More →