Search Results for: commercial

February 19, 2014

London’s West End retains position as world’s most expensive office location

World’s most expensive location

For the second year running, the most expensive office space in the world is to be found in London’s West End, according to the latest edition of Cushman & Wakefield’s annual Office Space Across the World report. Rents rose by 5 percent in the area, driven largely by an ongoing mismatch between demand for high grade space and its supply, as we have previously reported. Worldwide, office rents rose by 3 percent in 2013, with certain high growth regions such as Africa and the Middle East experiencing an increase in rents of as much as 10 percent in specific locations. Hong Kong was the second most expensive location according to the survey while the central business district of Moscow rose to third place, up from sixth in the previous survey.

February 7, 2014

Looming resource constraints go way beyond carbon, warns the Carbon Trust

by Sara Bean • Environment, Facilities management, News

Sustainability in business must expand to meet future demands on resources. These constraints will go way beyond energy management, but include water, waste and land-use; for example there could be a 40 per cent gap between available water supplies and water needs by 2030, and some critical materials could be in short supply as soon as 2016. Organisations that adapt their business models by assessing their exposure to such resource constraints can identify how to manage these risks and exploit commercial opportunities. In turn this will improve efficiency, strengthen long-term resilience, and drive business returns. So says the Carbon Trust’s new report, Opportunities in an resource constrained world, which has profiled four of its customers: Whitbread, BT, Stagecoach, and Bord Bia and sets out some of the steps they have taken on sustainability. More →

February 6, 2014

London office rents are set to reach historic high by 2018

by Sara Bean • News, Property

London office rents are set to reach an historic high by 2018, fuelled by demand from the technology, media and telecoms (TMT) sector. Demand for office space by technology and media firms across central London was more than double of the finance sector in 2013, with major deals signed by Google, Amazon, Facebook, Twitter, News Corp, and Ogilvy & Mather. According to data from Knight Frank, record levels of overseas investment are helping London build its reputation as a global hub. Geographically, it is not just the City and the West End that are seeing a massive surge in demand; take-up in Docklands increased by nearly 20 per cent last year, while completely new districts are emerging which include London Bridge, Battersea and Nine Elms. More →

January 31, 2014

Economic recovery may be constrained by lack of skills and office space

by Mark Eltringham • Property, Technology, Workplace

There are signs that the nascent recovery in the UK economy is already starting to put pressure on the availability of skilled employees and appropriate commercial property for the most rapidly growing sectors. While the Government has announced that the UK’s economy has been growing at its fastest rate since 2007, a new survey published by the UK Commission for Employment and Skills (UKCES ) has claimed that nearly a quarter of vacancies in the UK have gone unfilled because of a shortage of much-needed skills. At the same time, claims a new report from DTZ, demand for commercial property is strengthening with take-up growing across the country while the availability of Grade A office space is declining rapidly.

January 23, 2014

DEFRA confirms Montagu Evans is to manage its UK-wide estate

by Sara Bean • Facilities management, News, Public Sector

In one of the largest public sector portfolios to be re-tendered in recent years, the Department for Environment, Food and Rural Affairs has appointed Montagu Evans to manage its UK-wide commercial estate. Montagu Evans takes over the three-year contract to manage the estates from DTZ, which has been advising Defra in its role as estates asset manager for the past four-and-a-half years. Montagu Evans will take over the management of the estates, which consists of over 180 properties, from 1 March 2014. Montagu Evans managing partner Steve Thomas said: “We are delighted to have secured such an important appointment. We have been highly impressed with the Defra team and believe there is an excellent fit with Montagu Evans’ tradition of delivering high-quality services.”

January 12, 2014

Latest issue of the Insight newsletter available to view online

by Mark Eltringham • Architecture, Facilities management, Newsletter, Workplace, Workplace design

The latest issue of our weekly newsletter is now available to view online. If you don’t already subscribe, please do so. Just submit your email address in the Subscription section on the right of this page and we’ll keep you up to date each week with a digest of the best news and views on the design and management of workplaces, the people who work in them and the technology they use. This week, we offer a timely warning of the perils of predictions while hypocritically predicting what we’ll spend most of 2014 talking about, ponder why wellness programmes are so popular given that they don’t appear to do all they claim, ask why so many UK employees are so keen on moving jobs, question the thinking behind the idea of creating a cycle lane in the sky in London and highlight the ongoing resurgence in the takeup of commercial property in the UK.

January 6, 2014

New SkyCycle route proposed to ease Capital’s transport network congestion

by Sara Bean • Architecture, Environment, News, Property

Demand for London-based workplaces is increasing, but the capital’s transport network is at capacity and ill equipped for a predicted population growth of 12 per cent over the next decade. Despite the Mayor’s efforts to encourage more cycling in the capital, a recent series of accidents has raised concerns about its safety. Architects Foster + Partners together with Exterior Architecture and urban planners Space Syntax have come up with a proposed solution, the SkyCycle network. This consists of a wide, secure deck constructed above the existing suburban railway corridors, to provide over 220 kilometres of safe, car free cycle routes which can be accessed at over 200 entrance points. Each route can accommodate 12,000 cyclists per hour and will improve journey times by up to 29 minutes. More →

January 6, 2014

The nine enduring workplace tensions to keep an eye on in the year ahead

by Mark Eltringham • Comment, Facilities management, Flexible working, Public Sector, Technology, Workplace

There were a number of workplace issues that wouldn’t go away during 2013. And there’s no reason to believe we will resolve many of them during 2014 either. We can try to explain the recalcitrance of such things by referring to the enveloping fog that emanates from the commercial interests who promote problems to their customers so they can provide the solutions, but many are more deep-rooted. Technology and its constant radicalising effects is almost invariably the major driver of change, but it is only one thread in a complex web of social, professional, demographic, cultural and commercial changes. So here, in no particular order, are the issues we expect to spend the most time talking about on Insight over the next year. More →

December 19, 2013

Architects’ workloads remain in positive territory across the country reports RIBA

by Sara Bean • Architecture, News, Property, Public Sector

The design and construction sector continues to pick up, particularly in Scotland, Southern England and London says the Royal Institute of British Architects (RIBA). Although the Future Trends Workload Index fell back slightly in November, standing at +31 compared with +35 in October 2013, it remained firmly in positive territory. RIBA’s monthly survey illustrates the profession’s confidence and workload, and is a useful indicator of the health of the wider UK construction industry.Welcoming the growing confidence across the United Kingdom, RIBA Director of Practice Adrian Dobson said: “In terms of geographical analysis the highest balance figures were in Scotland (+50), the South of England (+41) and London (+40), but all UK nations and regions remain positive about future workloads, again reflecting a widespread increase in confidence levels.” More →

December 17, 2013

New survey reveals extent and nature of workplace change programmes

by Mark Eltringham • Comment, Facilities management, Property

The newly published Workplace Transformation Survey from property consultancy Cushman and Wakefield begins with the now routine statement that “there is no doubt the corporate workplace is rapidly transforming”. So tell us something we don’t know – and in the subsequent report they pretty much do. That said, the methodology of the survey does skew the results by focussing on a particular part of the workplace elephant, because the report was compiled in conjunction with CoreNet Global, based on a questionnaire of over 500 occupiers and other participants from around the world taking part in events in Los Angeles, Amsterdam and Shanghai. So inevitably the results are weighted to at least some degree in favour of those with an interest in commercial property and the regions from which it draws its data. More →