Search Results for: economy

Government BIM target ‘unachievable’, claim construction industry experts

ConstructionThe majority of building industry experts surveyed by law firm Pinsent Masons believe that one of the key UK Government target for the uptake of Building Information Modelling  is now unachievable due to unfit contracts and the lack of a collaborative approach between clients and builders. The Government had hoped that all central Government construction projects would achieve BIM Level 2 by 2016. But according to the new report, nearly two thirds (around 64 percent)of the 70 people surveyed claimed it was impossible for the target to be met. ‘Level 2’ refers to a collaborative 3D setup in which all project information, documents and data are electronic with fully integrated software and interfaces.

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Insight newsletter is now available to view online

The-Fountainhead-newsletter

Gary Cooper as architect in the 1949 adaptation of The Fountainhead

In this week’s Insight newsletter, available to view online; Mark Eltringham on why architects are not the only people entitled to have an opinion on buildings [pictured]; the Carbon Trust warns future environmental constraints will actually go way beyond carbon; the total cost to the European economy of corruption is some €120 billion; and (GCHQ) advises that all public sector staff who are still using Windows XP at home should be denied access to networks. News of the introduction of the first working 3D pizza printer; how the influx of tech firms is leading to an unprecedented rise in London office rents and the construction industry records its best month for almost six-and-a-half years.  To automatically receive our weekly newsletter, simply add your email address to the box on the home page.

London office rents are set to reach historic high by 2018

Capital's office rents to increase by a quarter by 2018 as techies move in

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 →

Corruption in procurement perceived as widespread across EU

Brown envelope cashAccording to the EU’s newly published Anti Corruption Report, around 15 percent UK firms believe that corruption has prevented them from winning a public contract at at least one point during the past three years. Although this rate compares favourably with an EU average of 32 percent, the report concludes that the total cost to the European economy of corruption is some €120 billion. The most commonly cited practices cited by the firms responding to the survey included specifications and procurement processes tailored for certain firms, conflicts of interest in bid evaluation and collusion between suppliers. Although under a fifth of UK businesses claim to have been directly affected, nearly half (46 percent) feel corruption is widespread compared to an EU average of 75 percent.

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This week’s Insight is now available to view online

Living up to iconic office furnitureIn this week’s Insight, available to view online; signs that the recovering UK economy is putting pressure on the availability of both skilled employees and Grade A office space; the disparities that exist in flexible working arrangements across the country; and the Green Building Council criticises Prime Minister David Cameron’s decision to slash 80,000 pages of environmental guidance. RICS publishes a report by Occupiers Journal on how to prove the value of FM to board level directors; Pam Loch provides some legal guidance on managing employees embroiled in an office romance and Mark Eltringham wonders when modern office furniture design will begin to live up to the iconic pieces of yesteryear [pictured]. To automatically receive our weekly newsletter, simply add your email address to the box on the home page.

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

Supply and demandThere 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.

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Cities report highlights skewed nature of UK economic recovery

The Centre for Cities has today published its seventh annual report into the economic conditions in the 64 largest urban areas in the UK. The Cities_Outlook_2014 report paints a picture of a patchy economic recovery across the UK, with many cities such as Edinburgh, Birmingham, Manchester, Nottingham, Liverpool and Leeds seeing an upturn in their economies, but one that lags significantly behind that of  London. The capital continues to disproportionately attract investment and people from across the UK and overseas, sometimes to the detriment of other towns and cities. The report argues that more power and finding needs to be devolved away from London to ensure that the UK enjoys a sustainable and balanced economic recovery.

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Fewer projects put on hold as construction sector recovery continues

Construction sector

In the week the ONS announced the UK unemployment rate has dropped to 7.1 per cent, comes more evidence of the recovery from the built environment. Figures released by construction industry analysts Glenigan have revealed that the value of UK projects put on hold during 2013 was the lowest since the start of the recession in 2008. In total, £12 billion of potential projects were put on hold last year, compared to £47 billion in 2012 and a peak of £80 billion in 2009. According to Glenigan economist Tom Crane, the value of stalled projects have been falling since 2009, but the latest figure shows the continuation of an encouraging trend, with a 16 per cent fall in the value of underlying projects.   More →

Plans submitted for 19 storey tower in Manchester business district

No 1 SpinningfieldDevelopers have submitted plans for the development of a new tower on the site of an existing office building in Manchester city centre. Allied London is looking to create a new 19 storey office in Spinningfields, the city’s troubled £1.5 billion business district which ran into development problems at the height of the recession between 2007 and 2010. The new building a will offer over 340,000 sq. ft. of office space and is designed by Ian Simpson Architects who were responsible for the design of the Beetham Tower. The ground floor is also likely to incorporate retail outlets, cafes and restaurants. A final decision on the application from the local authority is due in April. Quay House, the current building on the site, is argued by the developer to be under-occupied and outdated.

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Surge of turnover and employment growth in UK’s creative businesses

creativityThe Government has released new statistics that demonstrate the increasing importance of the creative sectors to the UK economy, although concerns remain about the UK’s creative skills base. The figures reveal that the overall turnover of creative businesses increased by just under 10 percent in 2012 and employment increased by 8.6 percent over the same period, more than any other sector. The creative industries are now worth more than £70 billion a year and employ 1.68 million people. While employment in the UK as a whole grew by 0.7 percent over the whole economy, jobs growth in the creative sector was 8.6 percent. There was also growth in export sales, up over 16 percent between 2009-11 and worth £15.5bn in 2011.

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Retaining valuable employees is top global priority for CEOS this year

Retaining valuable employees is top global priority for CEOS this yearThe number one priority of business leaders worldwide this year is how best to develop, engage, manage, and retain existing talent. This worker-centric approach means that employee engagement and better management will take centre stage as the way to improve competitiveness, win new customers and raise productivity. According to new research from The Conference Board and UK partner CMI (Chartered Management Institute), CEOs will concentrate on creating a strong internal talent pipeline rather than seeking to recruit externally, with nine out of the top 10 global Human Capital strategies focused on current employees, including providing training and development, raising employee engagement and increasing efforts to retain critical talent. Other closely linked priorities identified in the CEO Challenge 2014 are customer relationships, innovation, operational excellence, and corporate brand and reputation. More →

Consultation begins on international commercial property standards

OLYMPUS DIGITAL CAMERAToday marks the beginning of the three month public consultation by the recently formed International Property Measurement Standards Coalition as the organisation seeks to develop standardised way of measuring commercial, domestic and retail property. Formed in May of last year, the IPMSC includes many of the world’s leading property institutions including the Royal Institute of Chartered Surveyors (RICS) from the UK. The primary aim of the new body is to remove disparities between local property measurement standards by developing globally accepted standards to allow occupiers and investors to make better decisions about property. Research from Jones Lang LaSalle claims that currently a property’s floor area can vary by up to 24 percent depending on how it is measured.

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