August 24, 2018
Major tech companies continue to acquire new London offices, despite Brexit concerns
The repercussions of a no-deal Brexit are being hotly debated but there are some indications that it’s yet to impact the Capital’s commercial property sector. A number of leading tech and creative companies have continued to acquire large volumes of office space across London. According to figures from CBRE, take-up of Central London office space stood at 1.2m sq ft in July 2018, above the 10-year monthly average of 1.0m sq ft. The increase in July was largely down to two Facebook deals at 11/21 Canal Reach, N1 and Building P2 Handyside Street, N1, where in total 600,600 sq ft of office space has been filled. The creative industries sector led July take-up at 679,400 sq ft, representing 61 percent of the space taken; with the business services sector acquiring 17 percent of space, with 133,200 sq ft going to flexible office providers. In the past 12-months, business services has been the principal sector, accounting for 31 percent of take-up ahead of the creative industries (25 percent) and banking and finance sector (16 percent).
Fears of robots taking workers’ jobs appear to have lessened over the last year, a new report has suggested. Research from Perkbox and SEMrush examined fears of robots at work according to online searches from January 2015 to June 2018 in the UK and found that in just one year, from 2015 to 2016 the phrase ‘will robots take my job?’ increased from zero to 1,600 average monthly searches. In 2017, the phrase was searched 197,800 times/monthly on average. In 2018 so far, the average has dropped but it remains relatively high regardless (57,833 searches). According to online searches with keyword ‘robots’ and ‘work,’ people are gradually becoming more concerned about what jobs robots will replace first. The phrase ‘what jobs will be replaced by robots? was rarely searched in 2015. However, in 2016-17 the number rose from 200 searches/monthly on average (2016) to 2,400 on average in 2017 (a 1,100 percent increase). 
Traditional job roles are becoming more complex due to digital transformation initiatives a new poll claims, with UK businesses having to wait more than five months, on average, for new joiners to get up to speed in their jobs. In the research by Robert Half of almost 5,000 CFOs in 14 countries, CFOs in the UK report that the key skills for finance professionals are changing. With digital transformation a priority for many organisations, there is now more focus on skills such as data analysis (cited by 43 percent of CFOs), financial analysis (35 percent), and data forecasting (34 percent). Finding the right people with these abilities is made even more challenging by the fact that businesses around the world are struggling to find qualified professionals. Almost all (93 percent) UK businesses find it challenging to attract qualified accounting and finance professionals. Globally, the issue is equally pronounced, with 94 percent of businesses also reporting similar challenges.
