Search Results for: london

London large commercial property pipeline leads rest of Europe

London Commercial Property London will be home to 35 new large office buildings before the end of this year making it one of Europe’s most important destinations for major corporates wishing to occupy over 5,000 sq. m. of commercial property, according to a new report from Colliers International. The survey of 23 major European cities found that together they will offer just over 800 readily-available and high quality large scale offices to choose from by the end of 2014. The 2014 EMEA Office Report claims that this year will see London become the city with the joint third highest availability of large offices in Europe, up dramatically from 11th place.  London matches Amsterdam in having 60, trailing Paris with 62 and Moscow with 98. London, however, stands out as having a strong pipeline of new large office developments.

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BCO’s London workplace design and fit-out award winners revealed

One Embankment PlaceYesterday the British Council for Offices announced what it considers London and the South East’s best recently completed workplaces at an awards dinner. The winners included One Eagle Place, BBC Broadcasting House and Brent Civic Centre, who will now go forward to the national awards which will be announced in October. Earlier this month, the regional finalists for Scotland, the Midlands and East Anglia were announced. Ceremonies will be held to announce the regional winners for the North of England and South West during May. Yesterdays’ event saw PwC’s One Embankment Place designed by t p bennett crowned as Refurbished/Recycled Workplace, Argent’s One Stable Street office win the small office category, while the award for Best Fit Out of a Workplace went to The Walbrook Building designed by Scott Brownrigg. The renovation of BBC Broadcasting House and Brent Civic Centre shared the award for Best Corporate Workplace.

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Allied London announces plans for development of former Granada site

hello-house-old-granada-studios-manchester-allied-london+1Property Developer Allied London has announced plans to transform part of the former Granada Studios site in Manchester into a new media hub when it takes control of the building in June. The new building is to be branded Hello House and will offer workspace specifically aimed at media and PR companies, including startups and SMEs as well as established businesses. Not only has the site already enjoyed a long associated with one of the UK’s most famous and well-established media firms, it is also be able to take advantage of Manchester’s growing reputation as one of the country’s most important media and tech locations. The revamped space will include a rooftop media bar and facilities to encourage tenants to work together and develop new joint opportunities. Allied London has already signed up its first tenants.

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Foreign investment fuels record quarter for London commercial property

Foreign investment fuels record quarter for London commercial property

More London, Riverside

More London, Riverside

Foreign investment in London’s commercial property market has fuelled a record breaking start to 2014, according to a new report from Cushman & Wakefield. The influx of overseas capital dominated deals in the first quarter of the year and, in turn, drove total investment levels that exceeded £4.3 billion, three quarters of which came from abroad and was centred on East London and Docklands . The 32 deals covered in the report included the sale of the More London estate to a Kuwaiti investor for £1.7 billion and concluded the busiest quarter since 2007. According to the report, foreign investors are attracted by London’s status as a safe haven. Last month we reported how domestic investors were looking outside the capital for opportunities but the Cushman & Wakefield report now suggests that interest from   domestic investors and occupiers is increasing as the UK economy improves.

Plans unveiled for London’s £1.5 billion Silvertown Quays development

Silvertown QuaysPlans have been released for the £1.5 billion redevelopment of Silvertown Quays in the East of London. The 7 million sq. ft. mixed use scheme will cover 62 acres on the site of the Royal Docks directly opposite the Excel exhibition centre. The development will include around 2.5 million sq. ft. of commercial and retail space, and some 2,500 new homes along with education, research and exhibition facilities. As announced by London Mayor Boris Johnson in 2013, one of the key features of the  project will be an avenue of ‘brand pavilions’, where companies from across the world will be invited to showcase their products. The district will be served by a new bridge connecting it to the ExCel site giving access to transport links, including the new Crossrail station with express services to the City of London, West End and beyond.

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CBI moves to new flagship London office at Cannon Place

CBI Cannon Street 1The CBI is moving out of the Centre Point building this weekend to take up residence at its new flagship offices in London’s Cannon Place on Monday (31st March). The UK’s leading business group is leaving the Centre Point building in London’s West End after 34 years to relocate to new offices in Cannon Place, above Cannon Street station, where its new headquarters will be based. The 25,000 sq ft space on the fourth floor of the eight-floored Cannon Place will be open plan and home to around 200 staff. It will boast a member lounge with work stations and meeting rooms, as well as regular exhibitions showcasing the best of British business from around the globe. This first exhibitor will be Bristol-based film and television company Aardman Animations, the makers of the award-winning Wallace and Gromit series. (more…)

CIBSE’s new website inspired by iconic new City of London building

5 Broadgate

5 Broadgate in the City of London

The look and feel of the Chartered Institution of Building Services Engineers’ (CIBSE) new website, which was unveiled this week, has been inspired by a building. According to CIBSE the modular, precise design of 5 Broadgate, designed by Make Architects is echoed in the modern new design, improved user navigation and optimisation for mobile and smart devices of its new website. 5 Broadgate, the new City headquarters for financial services firm UBS, is a 700,000 sq ft, 12 storey building based on a single block form, featuring deep reveals to windows and openings that are designed to add to its overall feeling of substance. The new building will include up to four trading floors, each able to accommodate approximately 750 traders, allowing UBS to consolidate its London trading operations into one building, when fully occupied in 2016. (more…)

UK commercial property thriving, as domestic investors shy from London

Edinburgh is one city enjoying a resurgence in investment

Edinburgh is one city enjoying a resurgence in investment

The distinctions between the commercial property market in London and those in the rest of the UK are becoming increasingly evident, based on new data from DTZ. While the value of transactions hit a record breaking £44.7 billion last year, up nearly a third on the figures for 2012, the majority of investments into regional markets were made by domestic firms while those in London were dominated by overseas investors. Around £23 billion of the overall total was invested in property outside of the capital, a reversal of last year when more money was invested in the capital than outside it. Meanwhile foreign investors spent a total of £20bn throughout the year with the majority (£14.2 bn) invested in Central London. According to DTZ, one notable trend in the year was for UK investors to divest property in London and shift investment to other areas of the UK.

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New data suggests that London no longer belongs to the UK, but the World

One of the subjects touched on in the first episode of Evan Davis’s BBC documentary series about the economic distinctions between London and the rest of the UK Mind the Gap was the impact of investment by the global super-rich into London property. At one point he asked the Malaysian investor behind the £8 billion Battersea Power Station redevelopment whether he’d considered investing in other cities in the UK. The response was a straight no, but the accompanying glance said rather more. London is no  longer a British city but one that belongs to the world, it said, so any comparison with Manchester, Birmingham, Bristol, Leeds, Cardiff and Edinburgh is meaningless. You might disagree with this point of view, but a raft of new data appears to make it very evident indeed that London is now shaped by global plutocrats in a way that cannot be mirrored in the rest of the UK.

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City of London grants planning permission for ‘Gotham City’

Leadenhall1-MakePlanning permission has been granted from the City of London for a £12.7 billion scheme at 40 Leadenhall Street. The building – dubbed ‘Gotham City’ – is located beside the Gherkin at the heart of the City’s eastern cluster of tall buildings and will vary in height between 7 and 34 office storeys. It will feature two additional basement levels, a roof level plant (total height 170m AOD), a flexible retail/café and restaurant uses at ground floor level and café/restaurant with roof terrace overlooking Fenchurch Street.  The total size of the building is 910,000 sq ft, split between 890,000 sq ft office and c. 20,000 sq ft retail. As part of the design by Make architects; a grade II listed building at 19-21 Billiter Street, built in 1865, will be restored and integrated into the proposed scheme. (more…)

London conference debates international office measurement standard

Measuring officesThe implementation of an international property measurement standard for offices (IPMS for Offices) moved forward last week when a group of leading professional bodies from across the world met at RICS’ HQ in London. The two-day meeting (20-21 Feb 2014) brought together representatives from many of the 31 member organisations of the International Property Measurement Standard Coalition (IPMSC), who discussed plans for the launch and implementation of IPMS across international real estate markets. A rise in cross-border property investment and expansion by global corporate occupiers has exposed the difficulties that can arise when dealing with differing national and local measurement practices. The first of its kind, IPMS seeks to standardise the way office space is measured around the world. (more…)

London’s West End retains position as world’s most expensive office location

West End

World’s most expensive location

For the second year running, the most expensive office space in the world is to be found in London’s West End, according to the latest edition of Cushman & Wakefield’s annual Office Space Across the World report. Rents rose by 5 percent in the area, driven largely by an ongoing mismatch between demand for high grade space and its supply, as we have previously reported. Worldwide, office rents rose by 3 percent in 2013, with certain high growth regions such as Africa and the Middle East experiencing an increase in rents of as much as 10 percent in specific locations. Hong Kong was the second most expensive location according to the survey while the central business district of Moscow rose to third place, up from sixth in the previous survey.

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