Search Results for: commercial

July 9, 2013

First “green-rise” commercial office building announced for Los Angeles

by Sara Bean • Architecture, Environment, News, Property

High-rise buildings tend to evoke a love-hate response, and being green is usually not a strong feature. However a new high-rise is being planned in California which aims to join the handful of tall buildings in North America to achieve the U.S. Green Buildings Council’s LEED Platinum certification. The 37-storey Century City Center will integrate the best new engineering and technological practices and innovations to deliver the first new build LEED Platinum “green-rise” in Los Angeles and Southern California. It promises, say developers JMB Realty Corporation, to effectively create a new benchmark in sustainable performance for the commercial office market in America’s second-largest urban region.

July 8, 2013

Landmark Lloyd’s building sold to Chinese insurance firm in commercial property deal

by Sara Bean • Architecture, News, Property

The iconic Richard Roger’s-designed Lloyd’s Building at One Lime Street, London EC3, has been sold to Ping An, a Chinese insurance company for £260 million, it’s been confirmed. The Lloyd’s Building will continue to house the world’s leading insurance market as it is let in its entirety to the Society of Lloyd’s on a lease expiring in 2031. Jon Crossfield, director within Savills’ Central London team, says “This is a potentially landmark transaction, given it is the first by a Chinese Insurance company overseas. It is a high profile and confident entry to the market for them and further illustrates the dominance of overseas investors in London at present.” The commercial property deal, which represents the first purchase by a Chinese insurance company in the UK was managed by Commerz Real and advised by Savills and CBRE.

June 24, 2013

Approval for first commercial building to achieve top eco-build standards

by Sara Bean • Architecture, Environment, News, Property

A major new £8m low carbon building, which is the first commercial building to be designed to achieve both Passivhaus and BREEAM Outstanding certifications has been granted planning permission. The Enterprise Centre at the University of East Anglia (UEA), designed by UK-GBC members Architype and BDP, as well as Churchman Landscape Architects, also aims to set radical new sustainability standards in terms of embodied energy and use of materials from renewable sources. Ben Humphries, Associate Director from Architype and lead designer for the project, described the building as an “exciting and innovative piece of architecture.” More →

June 14, 2013

Only one commercial office building in RIBA National and EU Awards

by Sara Bean • Architecture, News, Workplace design

Just one commercial office building – Quadrant 3 on Regent Street in London [pictured] by Dixon Jones with Donald Insall Associates – has received a prize in the 2013 Royal Institute of British Architects (RIBA) National Awards. Many of the winners for the most rigorously-judged awards for architectural excellence are publicly, charity or foundation funded, with fewer medium-scale projects amongst the winners, both public and commercial. The shortlist for the RIBA Stirling Prize for the best building of the year will be drawn from the 52 RIBA National and EU Award winners (43 buildings in the UK and nine buildings elsewhere in the EU).

June 5, 2013

Applications for UK commercial property developments continue to fall

by Mark Eltringham • Knowledge, News, Property

According to law firm EMW LLP, the number of planning applications submitted for commercial property developments in the UK has fallen for a second successive year. The firm claims that the around 4 percent fall is down to declining demand from tenants. However there are stark contrasts between London and the rest of the UK measured both in terms of market activity and the number of tower cranes on the skyline, with London now having more than the rest of the UK combined for the third consecutive year according to the Health and Safety Executive. The report echoes the findings of the latest Markit/CIPS report on construction activity which saw a fall in construction activity, although total activity increased on the back of an increase in housebuilding.

April 30, 2013

Dubai developers switch unwanted commercial property projects to other uses

by Mark Eltringham • Facilities management, News, Property

The UK isn’t the only country looking to convert its unwanted office space into other uses. According to a new report from CBRE, the oversupply of new commercial property in Dubai is leading developers to switch the use of projects in the Emirate before they have even finished building them. With occupancy levels already at less than 50 percent in some areas and swathes of new developments coming online thanks to Dubai’s ongoing commitment to a policy of ‘build it and they will come’, developers are taking the decision to convert construction projects to homes or hotels.

April 18, 2013

Commercial construction sector grew in first quarter of 2013

by Sara Bean • Facilities management, News, Property, Workplace

There has been a steady growth in the UK commercial construction sector in the first quarter of this year, according to international property recruitment consultancy Judd Farris. The commercial construction sector has experienced steady growth, with a resulting high demand for experienced commercial candidates with knowledge of fit-outs and general build. There is also a strong recent demand for strategic sourcing candidates within Facilities Management. Said Tom Flood, Associate Director, Judd Farris: “As part of continuing cost-saving measures, companies are keen to appoint procurement specialists to effectively manage their strategic sourcing and supplier contracts.” More →

April 4, 2013

UK commercial property investors shift focus to the regions

by Mark Eltringham • Knowledge, News, Property

Investors in the commercial office market are increasingly being drawn towards the UK regions, according to a new report by Deloitte Real Estate. The UK Key Cities publication explores the trend that regional offices are emerging as a focus for savvy investors seeking higher returns. At the same time, individual cities are recognising the need to stand apart from competing locations and bridge the gap between themselves and London. These cities are being bolstered by factors such as improved connectivity through large planned infrastructure projects, devolution of power, and investment into the retail and leisure markets.

February 4, 2013

Commercial sector bucks downward UK construction trend

by Sara Bean • News, Property, Public Sector

Construction figs Construction business activity fell by the third month running in January, with new orders at slowest pace since October 2012 according to the latest Markit/CIPS UK Construction Purchasing Managers’ Index (PMI). There were some reports that snowfall had contributed to reduced output volumes, but the majority of respondents cited weak underlying client demand and a lack of new projects. However commercial activity was the only sub-sector to buck the wider downward trend in output during January with the latest data indicating unchanged volumes of commercial activity, ending five months of contraction. More →

January 22, 2013

Europe’s commercial property investors opt for safe cities

by Mark Eltringham • News, Property

German cities dominate the investment prospects for Europe’s commercial real estate sector as investors favour safe havens according to a new report – Emerging Trends in Real Estate Europe 2013. Munich tops the league table followed closely by Berlin in second place and Hamburg in fifth position, with investors taking comfort from each of the cities’ strong local micro-economic climate and resilient property market conditions. London, which is seen by many as Europe’s safest investment, is the largest riser in this year’s report taking third position. More →

January 15, 2013

Greenest commercial building in the world opens for business

by Sara Bean • Architecture, Environment, News, Workplace design

The Bullitt Center, proclaimed as the greenest, most energy efficient commercial building in the world, is opening in Seattle. The goal of the Bullitt Center is to change the way buildings are designed, built and operated to improve long-term environmental performance and promote broader implementation of energy efficiency, renewable energy and other green building technologies. Tenant are now moving into the six-storey, 50,000 square-foot building located at the intersection of Capitol Hill and the Central District in Seattle, Washington. More →

November 27, 2012

Commercial property deals on the rise in Yorkshire

by Mark Eltringham • News, Property

Investors have almost doubled the value of commercial property transactions in Yorkshire, according to property consultants Lambert Smith Hampton.However, the level of deals is still slightly below the level at the same time last year. LSH says the total value of Yorkshire investment deals in the third quarter of 2012 rose to £303 million from £172 million in the previous quarter, but was below the £306.5 million total for the third quarter of 2011.