Search Results for: london

May 29, 2015

London firms focus on wellbeing and agile working to attract staff

by Mark Eltringham • Flexible working, News, Property, Wellbeing, Workplace design

An additional 5.1m sq. ft. of office space will be required by 2019 to accommodate the growth of professional services firms in London, claims new research from CBRE. According to the studio, firms will also adopt more pragmatic workplace strategies that focus on agile working and wellbeing to meet their objectives. Nearly all (92 percent) of the respondents to CBRE’s Professional London survey claim they use the workplace to enhance employee satisfaction and 83 percent of firms use it to control costs. Firms are also placing more emphasis on wellbeing and more agile and intensive ways of using space, according to CBRE. Other factors such as technology and the design of the workplace are also increasingly important. The research suggests that staff are increasingly attracted by on-site amenities, connectivity and location and other ‘lifestyle offerings’.

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May 21, 2015

TMT and finance sectors drive demand for London office construction

by Sara Bean • Facilities management, News, Property

The total level of office construction in central London has increased over the past six months, fuelled by the greatest volume of new space to start since 2011, the latest Deloitte London Office Crane Survey has revealed. With a rise of 24 per cent over the past six months, a new wave of office construction in central London is under way across almost all submarkets. This comes at a time when the level of available office space is at its lowest for seven years, with current market conditions still suggesting a short-term supply shortage. However, the ramping up of new developments over the last six months has come too late to significantly alter the delivery of new space in 2015. TMT and the financial sector are driving up demand for more office space.

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May 5, 2015

A responsible approach needed for the design and build of London’s towers ⁰

by Paul Chilton • Architecture, Comment, Property

There are currently over 260 new towers either proposed, approved or under construction in Greater London, a 12 per cent increase on last year. There has been much debate and concern about the impact of the design and build of so many new towers on the capital and in particular the visual impact. The Skyline Campaign was launched last year with signatures from over 80 public figures hoping to halt the ‘destruction’ of London’s skyline. London is a busy city, on a small island with limited space. Towers allow us to create residential and commercial property using a minimal amount of land. However it is vital that new buildings that are tall enough to have a visual impact have the right design, are in the right place, and are built at the right time.

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April 24, 2015

Rising commercial property costs driving small businesses out of London ⁰

by Mark Eltringham • Cities, News, Property, Technology

The vast majority of small businesses in London and other parts of the South East are considering relocating over the next five years because they are frustrated with the lack of appropriate facilities and soaring commercial property costs in the region. A new study from the University of Sussex’s business incubation network Sussex Innovation claims that nearly two thirds (63 percent) of small businesses, rising to 78 percent of technology startups, believe their future may depend on leaving the capital. The study claims this threatens the viability of the Government’s flagship Tech City hub just months after it announced a new scheme to attract firms to the area. The research is based on a study of over 500 business owners and leaders in London and the South East and was presented at the launch of Sussex Innovation’s new hub in Croydon.

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April 24, 2015

Facebook nearly doubles the size of its London headquarters ⁰

by Mark Eltringham • News, Property, Technology

Facebook has nearly doubled the size of its UK headquarters on Euston Road in Central London, according to property owner British Land. The firm has signed a deal with the landlord that will see it add 66,000 sq ft to its existing 87,000 sq ft office. Facebook will occupy the fifth floor of the Regent’s Place building, as well as floors nine to sixteen and some shared space on the ground floor. The company has recently relocated from a 36,000 sq ft office in Covent Garden. Facebook is one of several global tech giants migrating to the area around Euston and Kings Cross which is in the midst of a multibillion redevelopment. The most high profile new resident is Google which is building a giant new headquarters building in King’s Cross. Other organisations in the area, which has been dubbed the Knowledge Quarter, include UCL, the Guardian and the government’s Digital Catapult Centre.

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April 12, 2015

Green Sky Thinking to focus on designing in sustainability for London ⁰

by Sara Bean • Environment, Facilities management, Wellbeing, Workplace design

Green infrastructure, social sustainability and intelligent design are the main themes for this year’s Green Sky Thinking event, which takes place between 20-24 April. The event includes a range of informal session and on-site talks that highlight what the organisers claim is best practice on how to ‘design in’ sustainability. The purpose of the programme, led by Open-City, is to enable those working within the built environment to see real life sustainable solutions, talking face to face with those responsible for designing, delivering and managing successful schemes. Its ultimate aim is to help them gain a holistic and cross-disciplinary understanding of how sustainable development is being practically applied across London, while understanding the current technologies, policy and thinking and how these translate into practice.

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April 10, 2015

Central London occupiers prepared to pay more for upper floors and terrace ⁰

by Sara Bean • Facilities management, News, Property

There is a growing trend for London occupiers prepared to pay more for upper floors, particularly with access to a terrace, as according to the latest research by Cushman & Wakefield (C&W), unprecedented rental rates are being paid for tower floors and roof gardens. Central London office leasing activity overall, was 2.4 million sq ft for the first quarter of 2015, which equals the same period in 2014, which marked the highest first quarter volumes since 2007. Momentum in the City of London office market has also continued, with a total of 1.8 million sq ft let, up 34 percent for the same time last year. The West End recorded a relatively quiet quarter, with leasing volumes down to just over 600,000 sq ft – the lowest level since mid-2013. However, this is against a backdrop of falling vacancy rates, leading to the increasing migration of commercial occupiers out of the West End.

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April 7, 2015

New masterplan submitted for £5bn East London development

by Mark Eltringham • Cities, News, Property, Technology

Developers have submitted a revised masterplan for the £5 billion Greenwich Peninsula mixed use development in East London. The new plans not only increase the number of homes on site but also include a greater focus on digital arts and media studios as well as more high rise buildings in keeping with London’s current predilection for tall buildings and emphasising the shift in London’s centre of gravity eastwards. The original plan, created by Farrell & Partners and dating back to 2004 are described as outdated by developers Knight Dragon, who have submitted the new mixed use plan for around 15,000 dwellings, 59,000 sq.m. of hotel, retail and recreational space and 60,000 sq.m. of office space as well as a design district, space for healthcare buildings, educational facilities, transport hubs, visitor attractions, parking, cycling paths, community facilities and parks.

April 2, 2015

London workers take longer lunch breaks than staff in other regions

by Mark Eltringham • News, Wellbeing, Workplace

London’s workers take 25 percent longer for lunch break than their contemporaries elsewhere in the UK, according to Avanta’s London Worker Index. The report, based on a survey of 1,500 people in the capital, also found that some 24 percent of male workers report using their lunch break to take a nap, compared to just 14 percent of their female colleagues. In addition to napping, the survey found that 54 percent of London workers use their lunch break to go shopping, whilst a similar number (52 percent) run errands. More than a quarter (27 percent) visit the gym and over a third (28 percent) meet up with friends. However, not every Londoner is quite so lucky. Almost a quarter (23 percent) of Londoners skip lunch three or more times per week, and one in ten don’t take lunch breaks at all.

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March 26, 2015

London remains world’s most expensive city in which to live and work

by Sara Bean • Facilities management, News, Property

London has retained its place as the world’s most expensive city for businesses to accommodate their employees. But according to the latest analysis from Savills, Hong Kong and New York are closing the price gap. The three cities have dominated the Savills Live/Work Index since its launch in 2008 and form a tight group of world class cities where it now costs over US$110,000 per employee per year to rent typical office and living space. London is now 7.3 percent cheaper in dollar terms than in June 2014, while 4th placed Paris has slipped below the US$100,000 per employee threshold for the first time since mid-2012 as a result of rental falls, dollar appreciation and euro weakness. Meanwhile, fuelled by an improving US economy and tech industry expansion, San Francisco has outpaced all other cities in the live/work index, with growth in rent and other real estate costs of 55.1 percent since 2008.

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February 26, 2015

London reveals latest plans to move cars, bikes and people underground

by Mark Eltringham • Cities, News, Property, Public Sector

The Mayor of London has revealed the latest plans to move the city’s pedestrians, bikes and cars underground and elevated on decking. The latest proposals would see a number of the capital’s major roads mounted or buried with the space saved at ground level converted to greener and more pleasant uses (and property development obv). An announcement from the Greater London Authority claims that over 70 sites across London have been considered for the scheme which will include new tunnels, fly-unders and decking. It follows hard on the heels of another proposal to create the Underline, a network of cycle lanes and walkways based on the city’s existing web of unused tunnels. The roads proposed for the new scheme include the A4 in Hammersmith, the A13 in East London and sections of the North Circular Road.

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February 18, 2015

Record uptake of London office space continues…but at a price

by Mark Eltringham • News, Property, Technology

Take up of leased office space in London has hit its highest level since 2000, claims a new report from BNP Paribas Real Estate. The recorded level of 4.49 million sq. ft. during the final quarter of 2014 was driven by serviced office operators and occupiers in the technology, media and telecoms sectors. TMT firms accounted for just under a third (31 percent) of the market in Q4 and 24 percent for the whole year. However the market is still characterised by a mismatch of supply and demand which means not only low vacancy rates in key business districts but also sustained upward pressure on rents. The average office rent per square metre in the City of London has risen by 17 per cent from £560 to £655. In the prime parts of the West End rents have jumped 8 percent over the year to £1092 per square metre.

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