Search Results for: london

August 25, 2017

UK serviced office take-up more than doubles in first half of 2017

Serviced office take up across the UK has increased by 176 percent in the first half of 2017, reaching 1.07 million sq ft compared to the same period in 2016, which saw 386,750 sq ft acquired, according to real estate adviser Savills. The firm claims that while Central London saw a significant increase with take-up reaching 860,368 sq ft in the first six months, property markets outside the capital also saw substantial growth. Savills research shows that the M25 office market saw take-up by serviced office operators rise from 44,676 sq ft in the same period last year to 109,886 sq ft in the first half of 2017, while in the regional markets, serviced offices, including coworking spaces, accounted for 4 percent of overall office take-up in the first half of the year at 95,987 sq ft, compared to 41,568 sq ft during the same period in 2016.

(more…)

August 25, 2017

Half of UK workers plan to leave their current job over the next year

by Sara Bean • Cities, Flexible working, News, Workplace

Fifty percent of full or part-time workers in the UK want to leave their current job in the next 12 months claims a new study conducted by Citation. London businesses will be the worst hit, with two thirds (64 percent) of workers in the capital planning on eyeing up other employers. Furthermore, those aged between 18 and 24 are most likely to jump ship (64 percent), and men are 10 percent more likely to leave than women. For two in five workers, it’s salaries that’s forcing them to look elsewhere – this is most likely to be the key driver for 18 to 34-year-olds. Better career prospects (22 percent), drab company cultures (16 percent), dislike of managers (11 percent) and loathing of their job (10 percent) were other reasons given for wanting to leave. With, according to a study by Oxford Economics the average cost of recruitment costing £30,000, UK business owners look set for a costly year ahead. (more…)

August 22, 2017

Regional office market remains strong and embraces the co-working revolution

by Sara Bean • Cities, Facilities management, Flexible working, News, Property

The creative industries sector accounted for over a third 35 percent) of take-up in the regional office market in the first half of the year, with this sector in particular driving the co-working revolution and the provision of flexible office space. Latest figures in CBRE’s H1 2017 Property Perspective, which monitors the performance of ten regional cities, overall, the UK’s regional office markets saw continued demand in the first half of 2017, with office take-up reaching 2.8 million sq ft, only slightly lower than the five-year average. For the first half of 2017, several cities witnessed improved levels of take-up when compared with the first half of 2016, these include Aberdeen, Edinburgh, Leeds and Manchester. Select locations such as Reading, Maidenhead and Watford also saw a continuation of record rents being set during the first half of the year, which has largely been driven by the delivery of new developments.

(more…)

August 21, 2017

Office sector undergoing transformational structural disruption in response to changing supply and demand

by Mark Eltringham • News, Property

Amid varying economic performances and property fundamentals, North American and European office leasing markets are generally performing well as they undergo an important shift in dynamics influenced by trends transforming both occupier demand and the supply of new product. Traditional drivers of demand are being joined by emerging disruptors that will increasingly shape the future of the office-space market and commercial real estate as a whole. These are some of the key trends noted in Avison Young’s Mid-Year 2017 North America and Europe Office Market Report. According to the report, of the 64 office markets tracked in North America and Europe, which comprise almost 6 billion square feet, market-wide vacancy rates decreased in 40 of the markets as nearly 52 million square feet was absorbed. Occupiers’ desire for new products remains strong and developers have responded, according to the report, with more than 62 million sq. ft. of office space was completed during the 12-month period ending June 30, 2017.

(more…)

August 18, 2017

Almost a quarter of Millennials are unhappy in their current work situation

by Sara Bean • Flexible working, News, Workplace

A majority (85 percent) of 18-34 year olds feel they are not putting their professional ambitions into practice and almost a quarter are unhappy at work, claims a new survey of Millennials by one of the UK’s largest independent higher education institutions, GSM London. By 2020, millennials will make up 35 percent of the global workforce, but despite being the generation told that they can have it all, nearly a third (32 percent) of those surveyed described their work as a ‘means to an end’, with 64 percent describing themselves as having just a ‘job’ rather than a meaningful ‘career’. However, when it comes to pursuing a more meaningful career path, a quarter of respondents cited the pressure of uncertainty (25 percent), disruption to lifestyle (24 percent) and lack of confidence (22 percent) as the main barriers stopping them from fulfilling their goals.

(more…)

August 10, 2017

Employees rate the best UK companies for work life balance

by Neil Franklin • News, Wellbeing

Jobsite Glassdoor has today identified the UK employers which offer the best work-life balance, according to individuals on the Glassdoor website. Winners are ranked based on their overall work-life balance rating from employees in the UK during the past year. For reporting simplicity, ratings are rounded to one decimal place though actual calculations extend beyond the thousandth to determine rank. According to the rankings, the five best employers in 2017 are Expedia, Lookers, American Express, HomeServe and Peninsula.

(more…)

August 9, 2017

Government to create new civil service hubs in Cardiff and Edinburgh

by Mark Eltringham • News

The UK government has announced that it has signed a 25 year lease at the Central Square development, Cardiff to create a new civil service ‘hub’. The news follows a similar announcement that a new lease had been signed for a hub in Edinburgh, as the government sets out to rationalise its estate and increase the number of civil service jobs outside London. The deal is part of the Government’s Hubs Programme which it claims ‘will transform the way the Civil Service works by accommodating several government departments in one building, across the country’. The programme plans to deliver over a billion pounds of savings, free up land for housing and reduce government buildings from 800 to around 200 by 2022. The UK Government has agreed to lease 265,000 sq ft in the Cardiff city-centre development, which will accommodate over 4,000 public servants from several different UK Government departments. HMRC will be the majority occupier and Central Square will become one of their regional centres. The office will be ready by 2020 for civil servants to occupy.

(more…)

August 7, 2017

New analysis reveals shrinking pool of younger workers in the UK workforce

by Sara Bean • Legal news, News, Workplace

An increase in the number of UK-born employees leaving the UK’s workforce, either through retirement or emigration is coinciding with a shrinking pool of younger workers, which a fall in immigration can no longer fill, a new report warns. An analysis of the UK’s workforce showed that the UK’s workforce grew in 2016-2017 only because of an increase in EU and non-EU workers. Mercer’s Workforce Monitor showed that retirement, opting out (i.e. due to caring responsibilities) or emigration saw around 143,000 UK-born employees leave the UK workforce with the loss of workers only being offset by the entry of around 147,000 EU-born workers and around 232,000 Non-EU workers. In sum, the UK’s workforce grew by an estimated 234,000 over 2016-2017. From Q1 2016 to Q1 2017, the number of workers over 50 in the UK economy grew by 230,000, the under 35’s grew by 50,000 while the number of workers aged 35-49 shrunk by 48,000. According to the analysis, if net migration into the UK levels off at 100,000 per year from 2020, the number of under 50s in the workforce will fall by 200,000 by 2025; the over 50s would increase by over 1 million while the number of under-25s in the population would fall by 100,000. This means apprentices and graduates numbers will be less.

(more…)

August 3, 2017

One in five UK office workers admit they struggle with tech more than colleagues

by Sara Bean • Facilities management, News, Technology

The digitisation of the workplace may be seen as a boon to productivity, but that also depends on how well it’s being adopted by the workforce. A new survey claims that one in five (23 percent) UK office workers struggle with technology; and helping to solve the problems of these less tech-savvy employees takes up an average of 17 minutes of their colleague’s working day. The survey from memory and storage firm Crucial, found that work with an average of four colleagues in their office that are less tech-savvy than them. These colleagues always seem to encounter IT problems at work, distracting 62 percent of the UK workforce and costing businesses lost time fixing issues. Just over one in five (23 percent) British office workers admitted that they felt they were one of the less tech-savvy colleagues. A third of these aren’t worried about being less tech-savvy because they have other skills, another third (34 percent) admitted trying to fix tech problems themselves but always end up calling someone else, whilst 26 percent know someone will fix it for them anyway.

(more…)

August 2, 2017

Air quality in cities would benefit more from electric heating in buildings than from electric vehicles

by Mark Eltringham • Environment, Facilities management, News

There would be more immediate benefits to the air quality in UK cities by converting all their buildings to electric heating than from the much talked about government plan to halt the sale of petrol and diesel cars by 2040, according to consultancy WSP. A switch to electric heating would provide around a 40 reduction in emissions, a similar level to what would be achieved if all vehicles were to become electric by 2040, according to the report. It highlighted the figures following yesterday’s government announcement that petrol or diesel cars would no longer be sold from 2040. In Central London alone 38 percent of NOx emissions come from buildings using gas power, claims WSP. In 2014 WSP published a report that showed that if all transport and buildings were to become electric by 2030 in London, air pollution could be reduced by over a third, carbon emissions cut by 80 percent and noise pollution reduced significantly. Its figures come from the expected London emissions in 2020 from London Atmospheric Emissions Inventory.

(more…)

July 28, 2017

UK commercial property market remains largely resilient

by Neil Franklin • News, Property

Although the commercial property market in the UK is proving largely resilient, demand to rent levelled off for the first time in almost five years during the past three months, according to a study from The Royal Institution of Chartered Surveyors (RICS) Its gauge of commercial tenants’ demand for property fell to -2 for the second quarter of 2017, its lowest reading since the third quarter of 2012. Demand varies across market sectors, however, with occupier demand declining in the office and retail sectors of the UK commercial property market, but conditions in the industrial segment remain firm, according to the survey.

(more…)

July 26, 2017

Putting people at the centre of building design could provide large boost to the economy

by Neil Franklin • News, Workplace design

More thoughtfully designed workplaces, centred around people’s needs, could improve performance and help tackle the UK’s productivity gap, according to a new report. Applying design thinking to boost workplace productivity by 5-8 per cent could contribute up to £20 billion to GDP. The potential gain in productivity, equivalent to twice the annual contribution to UK GDP made by the aerospace industry, is revealed in research conducted by researchers from Imperial College London in partnership with Atkins. Atkins commissioned the research to better understand and quantify the economic benefit from human centred design. The research claims to examine the ripple down effect on productivity brought about by an human centred focus on health and wellbeing. This in turn has a benefit for future business growth and can enhance the position of the national economy, according to the report. The research claims to support the importance of employees’ experience of the building in which they work and confirms that steps to create the right working environment can have a material impact on staff productivity and wellbeing.