September 12, 2014
Rate of UK commercial property activity slows to weakest for 15 months
The UK commercial property sector grew for the 24th consecutive month in August, but at its weakest rate since May 2013. According to the latest Total Commercial Development Activity Index from Savills, which monitors the overall performance of the UK commercial property sector, the rate fell from +27.7% to +11.9% in August, the weakest expansion in 15 months. Commercial work continued to rise in the private and public sectors however, and despite growth slowing substantially in both cases, commercial developers in the UK remained optimistic. Anecdotal evidence linked this to positive expectations of increased public sector activity and client interest in new projects. Although solid overall, the growth of refurbishment activity in August was the least pronounced since May 2013 and following 17 successive months of growth, panellists reported stagnation in office fit-out activity as well. (more…)









The UK government has announced that it is to extend its groundbreaking One Public Estate scheme to a further twenty local authorities. The programme aims to divest and consolidate government-owned land and property to cut public sector spending and boost economic growth and regeneration. The government believes the initial phase will save £21m in running costs and £88m in capital receipts, generate around £40m for local economies and create an estimated 5,500 jobs and 7,500 homes over the next five years. The Cabinet Office is now looking to build on this with the extension of the schemes to councils including Liverpool and Birmingham city centres as well as six from Greater Manchester and Cornwall, Southampton and Plymouth. The Government Property Unit will provide funding and training to the participating authorities.

The UK’s snail-paced broadband infrastructure isn’t up to the demands placed on it by 21st century businesses and there is not enough ambition to bring it up to speed with that of other nations, according to a new report from the Federation of Small Businesses. The report found that while nearly all small business owners (94 percent) consider a reliable internet connection essential, just 15 percent are happy with their provision and a staggering 45,000 small businesses are still dependant on a dial-up connection and many more are struggling by with slow broadband speeds under 2 Megabits per second (Mbps). The FSB also claims that current Government targets of 24Mbps for 95 per cent of the population and 2Mbps for the remaining five per cent will not meet future demands and that it should commit to delivering a minimum of 10Mbps (megabits per second) for all homes and businesses by 2017 rising to 1Gbps (gigabit per second) by 2030.

