Search Results for: construction

Office take-up in London at highest point in last 12 months, boosted by pre-let activity

Office take-up in London at highest point in last 12 months, boosted by pre-let activity

by • Cities, Facilities management, News, Property

Office take-up in London at highest point in last 12 months, driven by pre-let activityCentral London commercial offices under offers are at the highest point in the last 12 months and take-up is ahead of 2017 levels compared with this point last year, new data from CBRE has shown.  Central London office take-up for April 2018 stood at 547,900 sq ft, largely driven by pre-letting activity. Office take-up for the year to the end April 2018 was 4 percent higher than the corresponding period in 2017, standing at 3.4m sq ft. Take-up was boosted by 139,600 sq ft of pre-letting activity. Over the last 12 months, the business services sector has represented the largest proportion of take-up at 32 percent, driven by a large number of deals to flexible office providers. Take-up in April was dominated by the creative industries sector, accounting for 44 percent of take-up. The banking and finance sector (26 percent) and the business services sector (21 percent) also represented notable proportions of take-up in April.

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Rising demand for Grade A office space helps sustain Edinburgh commercial property market

Rising demand for Grade A office space helps sustain Edinburgh commercial property market

by • Cities, Coworking, Facilities management, News, Property, Public Sector

State Street Bank at Quartermile 3 EdinburghTechnology, media, and telecommunications (TMT) companies are continuing to play a prominent role within Edinburgh’s office market, accounting for approximately 30 percent of transactions in the city. But rising demand for Grade A office space in Edinburgh by a variety of organisations, including coworking,  private and public sector tenants has fuelled significant occupier demand during the first quarter of 2018, according to analysis by property consultancy, Knight Frank. The latest commercial property figures show approximately 460,000 sq. ft. of new occupier requirements came onto the market in the first three months of the year from companies looking to lease office space in Edinburgh. (more…)

How the UK car industry is driving the future of workplace design

How the UK car industry is driving the future of workplace design

by • Comment, Workplace design

The British car industry has grabbed numerous headlines since the Brexit referendum due declining car sales and the uncertainty of its economic and regulatory prospects. In spite of these mounting concerns, the industry continues to invest in the design of its workplaces, not only by creating inviting and engaging places to work, but also by integrating automotive approaches to design and construction into the work environment. As a result, these workplaces don’t just help car companies to stay competitive; they also provide new ideas for all sectors eager to build smarter and more efficient places to work.

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With a year to go, occupiers are less concerned than they were about the impact of Brexit

With a year to go, occupiers are less concerned than they were about the impact of Brexit

by • News, Property

Occupiers are less concerned about Brexit than they were a year ago, according to a new CBRE research survey of over 100 major occupiers across Europe, most of whom have pan-European or global operations. By late 2017, the proportion of European occupiers worried about Brexit having a ‘very significant’ impact on their operations in the UK had dropped from 15 percent to 6 percent compared with a year earlier. The proportion of occupiers worried about Brexit having a ‘significant’ effect has also fallen, from 38 percent to 33 percent, meaning that the number of occupiers worried about negative impacts from Brexit has fallen in total from 53 percent to 39 percent. A year to the day on which Britain aims to exit from the EU, global real estate advisor CBRE has published an updated guide unpicking some of the key real estate impacts of Brexit.

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Local authorities and developers must work together to boost the quality of new developments, says Green Building Council

Local authorities and developers must work together to boost the quality of new developments, says Green Building Council

by • News, Property

The UK Green Building Council (UKGBC) has launched two new resources for developers and local authorities designed to help boost construction standards and improve ‘social value outcomes’.  The first resource is related to residential developments while the second is directly relevant to commercial property. The resource, Social Value in New Development, provides guidance for developers and local authorities to help deliver social value outcomes in new residential and commercial developments. The guidance looks at social value, its stakeholders, strategies for driving positive outcomes and measuring success, and the current barriers to delivery.

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Flexible working and the rise of coworking reducing demand for London office space

Flexible working and the rise of coworking reducing demand for London office space

by • Coworking, Flexible working, News, Property

The number of new office buildings constructed since the financial crisis in 2008 has fallen in a year on year comparison by 56 percent, according to an analysis of planning applications carried out by property lending platform Lendy. The authors claim that the primary reason for the sharp decrease has been the greater uptake of flexible working and coworking models of space use. According to the study, only 2,300 applications to build new office buildings were approved last year, down from 5,200 in 2007/8. Lendy adds that applications to build new offices have also fallen since the financial crisis – down 58 percent to 2,500 last year from 6,000 in 2007/08.  Flexible working has reduced the requirement for new office buildings. Other innovations, such as shared workspace and coworking, have reduced the need for employees to have their own dedicated workspace, according to the report.

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Many businesses doing little or nothing to alleviate workplace stress

Many businesses doing little or nothing to alleviate workplace stress

by • News

New research by Perkbox claims that almost half (45 percent) of UK businesses do nothing to help alleviate workers’ stress, putting themselves in danger of having their workforces reach total burnout. This is despite work being the cited as the most common cause of stress (for 59 percent) and in light of 1 in 4 (25 percent) struggling to be as productive at work when stressed. What’s more 1 in 10 will call in sick and 7 percent will look for a new job. Businesses within the hospitality industry are the least likely to provide any kind of guidance or aid to help employees deal with workplace stress (64 percent), followed by the leisure sector (63 percent) and transport industry (55 percent).

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Full fibre broadband could deliver £120bn boost to UK economy

Full fibre broadband could deliver £120bn boost to UK economy

by • News, Technology

A new study conducted by economic consultancy Regeneris, and commissioned by Cityfibre, claims that the total economic impact of deploying full fibre ultrafast broadband networks across 100 UK city and towns, could reach £120bn over a 15 year period. The study examined ten areas of the UK economy likely to benefit from full fibre roll-outs. It also sought to quantify the impact of each of these areas in 100 distinct UK town and city economies over a 15-year period. According to the researchers, the UK’s business community – and most particularly its small and medium sized companies – could stand to benefit enormously. Access to full fibre could unlock £4.5bn in business productivity, innovation and access to new markets in these locations; a further £2.3bn in growth could be driven from catalysing new business start-ups; while the increased ability for companies to support flexible working could add £1.9bn.

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Commercial property sector worth £4.8bn to Scottish economy

Commercial property sector worth £4.8bn to Scottish economy

by • News, Property

The Scottish commercial property sector contributes almost £4.8 billion to the Scottish economy and supports more than 92,000 jobs, according to a new report. Compiled by the University of Strathclyde’s Fraser of Allander Institute under commission by the Scottish Property Federation (SPF) its findings include a comprehensive look at the potential economic impact of new commercial work. In total, the commercial real estate element of Scotland’s construction industry has a direct impact of around £2.4bn to Scotland’s economy, however taking into account the additional spill-over effects of the industry, the sector is estimated to have a total impact of around £4.8bn.

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Commercial office market take-up in Birmingham has exceeded one million sq ft

Commercial office market take-up in Birmingham has exceeded one million sq ft

by • Cities, Facilities management, News, Property, Public Sector

Three Snowhill in BirminghamCity centre take up reached 1,005,000 sq ft in Birmingham last year, 51 percent above the 10-year average of 666,000 sq ft which marked a record year, according to Savills Research. Growth was driven in part by the Government Property Unit (GPU) deal, as public services accounted for 27 percent of take-up in the city centre last year, including the 237,000 sq ft pre-let at Arena Central. Birmingham’s boom was also boasted by take-up from serviced office providers that reached 208,000 sq ft during 2017, the highest level on record and this accounted for 21 percent of the total take-up, more than any other regional city. There now remains a shortage of Prime Grade A space in Birmingham city centre following a number of large lettings. Prime Grade A space now stands at only 169,000 sq ft, enough for only six months of take-up at average levels. Major construction project, Three Snowhill won’t complete until the second quarter of next year, when it will deliver 420,000 sq ft of much needed Grade A office space on its completion. Until then, competition among occupiers will further intensify for Grade A space.

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Built environment needs to address the talent gap to make the digital transition says WEF

Built environment needs to address the talent gap to make the digital transition says WEF

by • AI, Architecture, Facilities management, News, Technology, Workplace

Built environment needs to address the talent gap to make digital transition says WEFThe construction industry needs new talent and skills to help in the adoption of new technologies to meet the challenges of digital transformation. It must also become more diverse, including increasing the percentage of women in the industry. These are the recommendations of a new report from the World Economic Forum, developed in collaboration with The Boston Consulting Group (BCG), Shaping the Future of Construction: An Action Plan to solve the Industry’s Talent Gap. The report argues that the Infrastructure and Urban Development (IU) industry has failed to innovate as quickly as other sectors, resulting in stagnating productivity and negative effects on the economy, society and the environment. An ongoing industry-wide shortage of qualified workers is among the key reasons for this issue. It has undermined project management and execution, adversely affecting cost, timelines and quality. It also has impeded the adoption of new digital technologies, such as building information modelling (BIM), automated equipment and cloud-based collaboration tools, which could improve productivity. The report provides twelve key actions which needs to be implemented to close the structural talent gap of the construction industry.

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Luther, Marx, Engels and a nailed-on manifesto for workplace change

Luther, Marx, Engels and a nailed-on manifesto for workplace change

by • Comment, Facilities management, Workplace design

In October 1517 Martin Luther nailed his Ninety-Five Theses to a church door in Wittenberg, thereby setting in motion the process that we know now as the Reformation. At least since that time, it has been apparent that a revolutionary manifesto needs to be laid at somebody’s door – or nailed to it – at the right moment for it to achieve its aims. Revolutionary manifestos are easy enough to set out, but the tract is nothing without traction.

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