Search Results for: commercial

Canary Wharf bucks London’s Brexit office market slow down

Canary Wharf bucks London’s Brexit office market slow down 0

Canary WharfCanary Wharf has outperformed the Central London office market during the past 12 months, with rental growth reaching 26.7 percent, ahead of Mayfair and St James’. It seems Canary Wharf’s high quality purpose built space, coupled with its relative affordability when compared to the rest of London, has helped attract significant deals in recent months. The most notable deal during Q1 was Thomson Reuters take up of 300,000sq ft in St Martin’s 5 Canada Square. Faisal Durrani, Cluttons head of research, explained, “It was only a matter of time before the area began to draw in occupiers, particularly from the City and City fringes. It’s a market that has undersold itself and its full potential is yet to be realised but we may be approaching a significant turning point in its attractiveness. In recent months, the Central London market has experienced Brexit nervousness and general settling of the market but Canary Wharf has bucked this trend.”

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What the imminent arrival of driverless vehicles will mean for the way we work

What the imminent arrival of driverless vehicles will mean for the way we work 0

Driverless carsGame changing technology doesn’t come any more disruptive than driverless vehicles. The problem is that we may find the whole idea easy to dismiss based on our past experiences of this sort of thing. Autonomous vehicles carry the whiff of Tomorrow’s World about them, yet they are about to go mainstream far sooner than we might think and their advent will have a major impact on the way we work and live. Both Ford and BMW have announced they intend to have fully autonomous  vehicles on the roads within five years. That doesn’t mean the test models that are already on the roads but commercially available vehicles; Volvo will have 100 customers in Sweden and the UK using the vehicles next year. Tesla claims its cars will be driverless in two years. And it’s not just car makers who are intent on grabbing a share of this new market but computer makers like Google and Apple as well as sharing economy pioneers like Uber.

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Making sense of the relentless babble about flexible working

Making sense of the relentless babble about flexible working

Zurich slideNot a day goes by when some organisation or other isn’t found extolling the virtues of flexible working or urging everybody to adopt the practice. While it’s easy to be cynical about the results of surveys from technology companies which are a staple part of this media onslaught, they are actually on to something. And that is why governments, employers and their associations and employees are all attracted to the idea of flexible working as a way of achieving whatever it is they want. The result is the stew of motivations, ideas and terminology that can lead commentators to make grand and daft pronouncements about flexible working; pronouncing it dead, most famously in the case of Yahoo but more subtly in the case of the grand new Xanadus being created in Silicon Valley by the area’s Charles Foster Kanes, or as the harbinger of death for the office based on the notion that somehow we’ll all be working in exactly the same way at some point in the future.

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Office construction at highest level in London for eight years

Office construction at highest level in London for eight years 0

Deloitte's Crane surveyOffice construction in the Capital is at its highest level for eight years, according to Deloitte’s latest London Office Crane report, which measures the volume of office development taking place across central London. Recognising that the low supply of available office space across central London offers a limited choice for tenants, developers have responded by starting a record number of new schemes since the last survey. The latest results show that the volume of office construction has increased by 28 percent over the past six months to 14.2 million sq ft the highest level since the beginning of 2008. In just 18 months activity nearly doubled from 7.7 million sq ft in 2014. The financial sector has leased the largest share of office space under construction in the latest results, accounting for 2.3 million sq ft, or 39% of the let space while currently accounting for 38 percent of the space let, the TMT sector is a leading occupier group.

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Central London office activity slows as EU uncertainty hits market

Central London office activity slows as EU uncertainty hits market 0

office spaceGiven the level of uncertainty around June’s Referendum on the UK’s membership of the EU, the £11.9bn invested into commercial real estate during the first three months of 2016 appeared robust. However, 50 percent of Q1’s volume was in January, with the data from Lambert Smith Hampton showing that activity tapered off significantly in the following two months. Anecdotal evidence clearly linked the slowdown directly to the approaching vote. As a result there was a significant fall in activity, which translated into a very quiet quarter for Central London Offices, where volume halved quarter-on-quarter to £2.2bn, the lowest quarterly total since the last part of 2011. Given that financial services is widely regarded as the most exposed sector to a possible ‘Brexit’, this sector appears to have suffered most from investor caution.In marked contrast, investment in the rest of UK Offices has remained buoyant at £1.4bn, the highest quarterly total since the middle of 2007.

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Problem of London’s success + Design & people + Latest Work&Place

Problem of London’s success + Design & people + Latest Work&Place 0

Insight_twitter_logo_2In this week’s Newsletter; Simon Heath suggests that FM should be satisfied with remaining essentially a service; Mark Eltringham bemoans the rise of tall buildings; examines commercial buildings that become synonymous with an organisational or sector crash; and celebrates the work of Donald Broadbent, whose research into cognitive psychology helps us address the effects of unwelcome noise in open plan offices and of German artist Fritz Kahn, in providing some understanding of how people respond to their surroundings. There’s news of a significant drop in employee satisfaction; why remote working may help to reduce the strain on overcrowded cities; and the negative effects of admin and unreliable technology on productivity. You can read the latest issue of Work&Place, download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

Start-ups help drive the rise in uptake of serviced offices in Australia

Start-ups help drive the rise in uptake of serviced offices in Australia 0

Australian office marketThe number of flexible workspaces is growing in Australia, which has seen a 15 percent increase in new serviced offices and co-working spaces opening in the last year, according to data from Instant Offices. But the country still has some way to go when compared to other major international destinations for business, with only 300 such offices in total compared to more than 3,000 in the US alone. During the relative economic uncertainty of the past year – with growth limited to 2.5 percent however, Australia is now witnessing the growth of a “contingent” workforce. Small businesses of four employees or less make up more than three quarters of the total market, and considering that in two of the country’s commercial markets, Sydney and Melbourne, the typical entrance to the market has been via fixed lease of seven to 10 years in length; the agility offered by flexible workspaces is gaining in appeal.

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Driverless vehicles set to create vast swathes of developable real estate

Driverless vehicles set to create vast swathes of developable real estate 0

Driverless vehicles and commercial propertyA new report from WSP and Farrells claims to identify exactly how the advent of autonomous vehicles will have a significant impact on the real estate sector worldwide. It suggests that changes in the way cars are owned and used will free up large tracts of potentially valuable property for other uses. Although the report confirms that driverless cars may increase the amount of people able to use cars for transport, including those currently unable or unwilling to drive, the amount of parking necessary to accommodate them may shrink significantly as shared ownership becomes a norm and road design changes to meet the needs of autonomous vehicles. The end result will be significant changes in the way urban space is planned and developed with a potential increase in the amount of land available for development by up to a fifth. IN the UK this will equate to hundreds of millions of pounds of added value for major city centres.

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Latest Work&Place + Performance management + Design and people 0

Insight_twitter_logo_2This week’s Newsletter features the latest issue of Work&Place, which presents a truly global perspective on the forces redefining our relationship with work. In news, the Government extends the One Public Sector Estate scheme and London’s commercial property sector is unaffected by the Brexit jitters. The three day working week is the ideal scenario for the over 40s; current performance management practices discount the digital workplace; and employees spend too much time checking work emails at home. Mark Eltringham says design what you like but don’t discount the impact of adding human beings to the mix; how people have been writing guides to good ergonomics at least since the early seventeenth Century; and that Charles Eames came to have mixed feelings towards his most famous chair. Download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

Brexit referendum has not diminished demand for London office property

Brexit referendum has not diminished demand for London office property 0

St James scheme in London's West EndPolitical uncertainty over the Brexit referendum has done little to diminish demand for London office property, despite it causing the commercial property market to experience a nervous start to the year. According to the latest research from Colliers, the number of vacant offices still remains low, with occupiers appearing to be relatively un-phased by external political and economic upheaval. There has been some high profile lettings and a healthy number of new large scale enquiries in the first quarter of this year – but transactions and searches have become protracted and supply shortages are undermining occupier expansion plans. However demand for office space amongst media and tech firms is diminishing in some locations. While Q1 2016 figures show that media and tech accounted for 38 percent of demand for office space across London, in the traditional media enclave of the West End, the figure fell to just 13 percent of demand, down from 45 percent in 2015.

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How can commuting to your choice of office affect staff productivity?

How can commuting to your choice of office affect staff productivity? 0

Working while commuting is on the increase survey findsTo say that I am obsessive about the subject of productivity in the workplace is an understatement. It is integral to much of the subject matter I write about, including the core theme contained in my book Don’t Worry About The Rent. Whilst undertaking research, it was important for me to get to the bottom of the decision making processes that many businesses go through when choosing office space. I was well aware of the predisposition for the commercial real estate industry to ask questions around size, cost and location, but I was particularly interested in what other issues might rise to the surface and become “top of mind” for management to consider around office choice. Predictably, I found that tenant surveys, including those undertaken by Colliers International confirmed that the two major issues management would consider were size and cost. The next biggest issue however was a surprise and it related to concerns around commuting.

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What our enduring love of wooden office furniture tells us about how we work

What our enduring love of wooden office furniture tells us about how we work

Robin Day Office FurnitureAs the office continues to evolve so too do the materials used within it. While many corporate headquarters make liberal use of brushed steel, aluminium and glass, an ancient, well loved and sustainable material is becoming increasingly popular all over again. Wood never went away,  of course, but the latest ideas about office design seem to have given it a new lease of life as a material. In part this is down to an inherent love for wood, but it is also acknowledges the aesthetic and functional crossover between the office and other places where we work such as cafes, hotels and homes. Nowhere is this more apparent than in the new  generation of commercial office furniture designs. In many ways they hark back to the 1950s when the British were introduced to modernism in no uncertain terms. This design movement led the British to reject dark woods and embrace new forms and materials including lighter, arguably more natural woods.

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