Search Results for: london

October 18, 2016

Stress and overwork in the City of London remains endemic, finds research ⁰

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

The financial services industry has never been known as a ‘touchy-feeling’ environment, and despite efforts to raise the issue of mental ill health at work, appears resolutely resistant to cultural change. This perception is reinforced by a new piece of research which claims that rising stress in the City is driving more than two out of three investment bank staff to consider quitting their job – but employees believe talking about stress or mental health issues to management will damage their careers. In a study by MetLife among decision makers at financial institutions two out of five (40 percent) think their job is extremely stressful with 67 percent considering quitting their jobs in the next year if stress levels do not improve. However, despite the impact of stress on their work and home lives, around 70 percent believe that admitting to suffering from anxiety or mental health issues will damage their career prospects and there is a reluctance to offer staff more flexible hours to help reduce the strain.

(more…)

October 13, 2016

London needs to adapt to the changing world of work, claims think tank ⁰

by Neil Franklin • Architecture, Cities, News, Property, Workplace design

Think Tank New London Architecture (NLA) which creates a forum for debate on the built environment, has launched its findings and recommendations from its landmark WRK / LDN Insight study on work and workplaces in London. NLA calls on central government, the Mayor of London and other stakeholders in the capital to act to maintain the capital’s position as a preeminent commercial centre. The report claims that, as the digital economy continues to expand, new suppliers of workspace are rapidly emerging – from co-working providers to ‘fab labs’, makerspaces, incubators and innovation centres. The insight study concludes that the affordable business space that currently supports these industries is at risk. London needs new innovative mixed-use models of city planning to support these changes and adapt to the changing world of work.

(more…)

September 19, 2016

London’s sky high property costs driving uptake of coworking, claims report ⁰

by Mark Eltringham • Cities, Flexible working, News, Property

Start-up tech firms in London face the world’s highest property costs and the result is a boom in coworking, according to a report from Knight Frank. The research, undertaken as part of Knight Frank’s 2017 Global Cities Report, examines the cost of leasing and fitting-out 600 sq ft of office space in the tech and creative districts of the world’s leading cities. Intense demand for space in Shoreditch, London, has seen start-up office costs soar with Knight Frank calculating 600 sq ft of office space to cost US$66,706 per year – the highest of any creative district in the world. This is followed by Brooklyn in New York (US$62,736), Mid-Market in San Francisco (US$61,680), 1st, 2nd and 9th Districts in Paris (US$57,426) and the Seaport District in Boston (US$50,700). However, London’s burgeoning coworking market also shows how firms are using the model to overcome the challenge of finding somewhere to work at an appropriate cost.

(more…)

September 19, 2016

London firms promote health and wellbeing with Square Mile Relay ⁰

by Tim Playbook • Company news, Wellbeing, Workplace

On the 22nd September, the biggest corporations in the City of London will compete in the iconic Bloomberg Square Mile Relay. The global race series, now in seven cities across the world, is celebrating its tenth anniversary in the capital with a record sell-out of 115 teams taking part in a unique relay in the heart of the square mile, as they attempt to prove themselves to be the fastest in the city. Each team consists of 10 runners, and each runner will be required to complete a one-mile course before passing the baton to the next competitor. While at the heart of this race is its charitable motives, it is also reflective of an ongoing rhetoric surrounding the importance of health and wellbeing in the workplace. The companies who have chosen to compete in this year’s global race series are communicating their desire for employees to embrace fitness as a lifestyle choice. It is a strategy in alignment with the ‘soft’ or ‘Harvard’ model of human resource management

(more…)

September 14, 2016

Calls to improve London’s transport infrastructure in Brexit negotiations ⁰

by Sara Bean • Cities, Facilities management, News, Property, Workplace

London’s property sector has been resilient following the EU referendum, with commercial property rents remaining strong over the summer, though over the next few months the overall direction of the market is likely to become clearer. This is according to the latest CBI/CBRE London Business Survey, which has found that businesses want the city’s mayor to play a leading role in influencing Brexit negotiations, particularly in driving improvements to the city’s transport infrastructure. Two thirds (67 percent) wish to see upgrades to the existing London Underground network, whilst over a half (55 percent) want a commitment from City Hall to start building Crossrail 2 and one third (31 percent) hope for greater investment in the capital’s road network. Unsurprisingly, uncertainty over the UK’s role in the EU is the most significant cause for concern (75 percent of firms), followed by retaining the best people for the job (49 percent) and a lack of appropriately skilled staff (44 percent).

(more…)

September 13, 2016

The future of London depends on cohesion, flexible working and infrastructure ⁰

by Mark Eltringham • Cities, Features, News, Products, Technology

The future of London is the subject of a new and wide ranging collection of essays from Think Tank Localis. It includes contributions from the likes of Boris Johnson, Terry Farrell, Peter Bazalgette and Justine Roberts. Its core theme is that while London has established itself as one of the world’s great financial and cultural powerhouses over the last thirty years, it now faces a number of new challenges and intransigent problems that it must address in a new globalised era. These have taken on a new perspective as the UK prepares to negotiate a new relationship with the EU, something which the report repeats was not the choice of Londoners, but which did perhaps reveal a neglect of the rest of the UK as the Government focused too much attention and investment on the capital. So, while the report focuses on London it also tries to create a vision of a London better integrated with the needs of the rest of the UK and based on a new partnership with the EU.

(more…)

September 5, 2016

Majority of Londoners support greater restrictions on new tall buildings ⁰

by Mark Eltringham • Architecture, Cities, News, Property

Most Londoners think tall buildings should only be built in areas like the City and Canary Wharf, and that there should be limits on how high they can be, according to an IPSOS Mori survey carried out on behalf of the Skyline Campaign. The findings come after Westminster Council controversially gave the green light for a 30 storey tower to be built in Paddington, and show stark differences in the views of Londoners in the inner and outer boroughs about how this new generation of tall buildings is affecting the Capital. The survey of more than 500 Londoners finds almost half (49 percent) of residents of inner London boroughs think that the 270 tall buildings planned, proposed, or under construction in London is too many. This contrasts with 34 percent of people in outer boroughs who say the same. Latest data released after the research was conducted indicates more than 400 new tall buildings are planned, proposed or under construction.

(more…)

August 2, 2016

London firms paint a mixed picture in their post Brexit reaction ⁰

by Sara Bean • Cities, Facilities management, News, Workplace

Investment and hiring intentions remain relatively robust among London’s leading firms, despite the Brexit vote, claims a new analysis by the CBI and CBRE. Over two fifths (41 percent) of the 186 firms surveyed after the Referendum said that they planned to maintain their investment plans, with one in ten (9 percent) planning on actually increasing their plans. The demand for property from occupiers and investors also appears to remain strong. However, 16 percent of firms said they will freeze investment plans, whilst a fifth (21 percent) think they will reduce them. Half of businesses (50 percent) plan to continue to hire after the Referendum, with less than a third (29 percent) not planning to do so and 12 percent planning on reducing staff numbers. Many firms though are still considering their response to the Referendum and will be looking for a clear plan from the Government and City Hall to maintain the openness of London’s economy.

(more…)

July 12, 2016

Skyscrapers in London will be hardest hit by new business rates ⁰

by Sara Bean • Architecture, Cities, Facilities management, News, Property

As we reported yesterday there are plans afoot to surround the ‘Walkie Talkie’ winner of last year’s Carbuncle Cup with other tall building. However for organisations interested in occupying a London skyscraper it’s worth noting that according to Colliers, businesses in London’s twenty tallest skyscrapers can expect to pay an extra £50 million under forthcoming major changes to business rates. In a data analysis published recently, Colliers has assessed the likely effects of forthcoming business rates changes – floor-by-floor – on the occupiers of London’s twenty tallest buildings. Overall, firms will need to cough up an extra £50m as business rates bills go from £194m to £243m over the next three years. And the infamous ‘Walkie Talkie’ at 20 Fenchurch Street, and now fully occupied – will see the largest increase with office occupiers and luxury rooftop restaurants faced with a business rates bill of over £19m by 2019, an increase of £5.1m compared with current levels.

(more…)

July 11, 2016

London planning to hide Walkie Talkie with…more tall buildings? ⁰

by Mark Eltringham • Architecture, Cities, News, Property

It was Frank Lloyd Wright who said ‘a doctor can bury his mistakes but an architect can only advise his clients to plant vines’. His words will be ringing in the ears of London planners who have decided they need to do something about the blight of Rafael Viñoly’s reviled Walkie Talkie building at 20 Fenchurch Street, according to an article in the Architect’s Journal. The building was last year’s Carbuncle Cup winner and has been held responsible for creating wind tunnels in the streets at its base and even frying people, shops and cars around it with reflected solar rays. Remarkably, the solution offered by planners appears to be to surround it with other tall buildings to hide it (while also creating new office space). Gwyn Richards, head of design for London, told the AJ: ‘One issue that has been brought to our attention is whether it would be preferable to have the Walkie Talkie effectively moved into the cluster so that it is less assertive. We are hearing from stakeholders saying that it would benefit the cluster to bring it into a tightly knitted group.’

June 23, 2016

Demand for professionals to fill London’s creative hub remains high ⁰

by Sara Bean • Cities, News, Technology, Workplace

As we reported last week, the success of the tech and media sector in London is driving the Capital’s offices market. Now new research has shown that demand for professionals in London’s creative occupations remains high, with over a third of jobs in the sector found within the UK’s main creative hub. The latest Professional Recruitment Trends report from the Association of Professional Staffing Companies (APSCo) based on data provided by Burning Glass, claims that 33.5 percent of all creative occupation postings were found in Greater London. The South East ranks second with 16.1 percent of creative roles followed by the West Midlands in third with an 8.1 percent share of total job postings. The list of ‘in demand’ skills for creative roles is mostly dominated by coding and programming languages. However the report suggests that the skills in the highest demand, excluding those specific to IT based roles, are communication, creativity and writing.

(more…)

June 21, 2016

London office rents predicted to stay strong provided there’s no Brexit ⁰

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

The continuing imbalance between the supply and demand for office space throughout London is resulting in a shift in the balance of negotiating power away from tenants, according to the latest London Office Update from Carter Jonas. Rents across Central London have, on average, risen by over 50 percent over the last five years in the West End, Midtown and South Bank office markets, and by over 30 percent in the City of London. Rent free periods have typically fallen by up to six months over the same period. In the next 18-24 months, the trend will continue to be higher rents and shorter rent free periods as availability remains low. While some occupiers may leave London altogether, others may adopt a ‘spoke and hub’ strategy, whereby back office functions relocate to peripheral, lower cost, areas while ‘client facing’ operations are retained in Central London. This prediction assumes that Britain rejects Brexit however, and there are no major economic shocks.