April 13, 2017
Rents start to surge in Australia’s thriving high rise commercial property market 0
Australia can justifiably claim to lead the world in thinking about office design and management right now, but it may be coming at a cost as rents surge for high rise office space in its major cities. The cost of renting office space in the skyscrapers of Sydney and Melbourne (pictured) is rising faster than in any other major global city, as a lack of space pushes up rates. The costs of space have yet to hit the heights of tall buildings in cities like Hong Kong, but Knight Frank’s Skyscraper Index claims that the cost of renting space in the upper floors of skyscrapers in Melbourne had risen by 11 per cent to £40.98 per square foot per year in the six months to the end of last year, while those in Sydney had risen 10.1 per cent to £78.39 per sq ft.
A new guide for facilities management professionals working with clients on BIM construction projects has been issued by the BIFM (British Institute of Facilities Management). Employer’s Information Requirements is a practical 47-page document to support clients using BIM (Building Information Modelling) to advise clients on how to specify their exact requirements for the design and construction phase of a built asset through to its full life-time operation. The purpose of the EIR is to support both FM professionals and clients by providing a template which can be edited and amended by the client or facilities manager to meet individual requirements for the project. Its guidance follows the publication of BIFM’s Operational Readiness Guide For Facilities Managers published in April 2016. Since April 2016, construction projects commissioned by Central Government have been required to use BIM for their procurement and delivery.
Accommodation and food services, manufacturing, and transport industries will be hardest hit by limits on movement of EU and non-EU workers following Brexit, a new report has claimed. The latest edition of Mercer’s 
A majority (84 percent) of British employees use their smartphones at work, with 78 percent regularly responding to text messages during working hours and on average spending as many as 120 hours per year using their smartphones during the working day claims new research. The data, compiled by LaptopsDirect.co.uk, also found that 59 percent regularly take personal phone calls whilst working; 52 percent admit to answering instant messages via platforms such as Whatsapp and Facebook, and 9 percent have sent a Snapchat from their workplace. Employers are not completely against the use of smartphones, though under half (44 percent) permit the reasonable use of smartphones, according to the research; but 14 percent of respondents admit to having been told off for using smartphones at work, and 4 percent have been disciplined for use of their own tech during work time. Of most concern for employers is the fact that more than a third (38 percent) of respondents regularly check their social media accounts while at work.
Demand for construction workers in London looks set to grow due to the completion of Crossrail and the extension of the Northern Line alongside other infrastructure projects. But a new analysis reveals the Capital is struggling to attract and train the workforce needed; with London and the South East having a shortfall of 60,000 people in the construction industry. This is according to a first of its kind analysis of the role of migration on London’s economy by London First and PwC.
Amos Tversky and Daniel Kahneman introduced the concept of Loss Aversion in 1984, highlighting people’s tendency to strongly prefer avoiding losses to acquiring gains. Most studies suggest that losses are twice as powerful, psychologically, as gains. Lose £100 and we will feel a remorse that easily outweighs winning £100. In a similar fashion we find it very hard to see future positives when confronted with short term loses. We understand easily what we have lost but cannot imagine what there is to be gained. Furthermore, as Frederic Bastiat wrote in an 1850 paper, “That Which is Seen, and That Which is Not Seen”, man has a tendency to “pursue a small present good, which will be followed by a great evil to come, rather than a great good to come, at the risk of a small present evil”. Put these together and it is no wonder that, by and large, the future of work, corporate real estate and the workplace is so widely misunderstood.
