After years in which we have gradually seen technology and flexible working practices transform our homes into offices, the UK Government has reversed this apparently natural order of things by introducing legislative changes to the planning system that will allow developers to convert office buildings into blocks of flats without asking councils for planning permission.  The intention is to address the UK’s housing shortage and stimulate the economy. It’s also a sign that many offices are empty as both a consequence of  the downturn and changes in the way they are designed and used. (more…)

German cities dominate the investment prospects for Europe’s commercial real estate sector as investors favour safe havens according to a new report – Emerging Trends in Real Estate Europe 2013. Munich tops the league table followed closely by Berlin in second place and Hamburg in fifth position, with investors taking comfort from each of the cities’ strong local micro-economic climate and resilient property market conditions. London, which is seen by many as Europe’s safest investment, is the largest riser in this year’s report taking third position.  (more…)

Westminster Council has granted Legal and General Property (LGP) planning consent for a new West End office in London’s Hanover Square, expected to become one of Mayfair’s most sought after squares following the completion of Crossrail. The redevelopment will comprise a 56,000 sq ft high office-based scheme, arranged over two basements, ground and seven upper floors. The office element will provide typical floors of 8,200 sq ft, whilst there will also be two retail/restaurant units on the ground floor, totalling 9,300 sq ft and fronting Hanover Square.

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