Search Results for: london

Mayor confirms £1billion China gateway business district in London

by • News, Property

Royal DocksLondon mayor Boris Johnson has confirmed the details of a £1bn investment in a new business district that will transform the Royal Docks into a 35 acre gateway project aimed primarily at firms from China and Asia looking to establish a business foothold in the UK and Europe. The site is intended to deliver more than 2.5m sq ft of office as well as retail and leisure facilities under the plans. Chinese owned developer ABP will work with Stanhope and architects Farrells with the first firms taking up occupancy in 2017. The Greater London Authority said the proposed development would create 20,000 full-time jobs, and inject £6bn into the UK economy, with £23m in business rates generated annually. No tenants are confirmed at this stage although the developers claim interest from Chinese banks is said to be high.

Three quarters of London investment banks set to trim corporate real estate

by • Knowledge, News, Property

AxeAccording to a new report from CBRE, nearly three quarters (72 percent) of investment banks based in London are looking to cut their corporate real estate portfolios over the next two years as they adjust to a changing global market for their services as well as structural changes in the UK’s regulatory framework.  As well as trimming London based properties, the report says that banks will continue to relocate functions to the UK regions in an effort to reduce costs.  Since the low point of 2009, rents in the City of London have increased from £42.50 per sq ft to about £55 per sq ft. The survey also found that just over a third (34 percent) of banks expect to see cuts as a result of mergers and acquisitions in the sector.

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British Land submits plans for London landmark Mayfair scheme

by • Architecture, News, Property

British Land development

British Land has submitted a planning application to Westminster Council for a major new 193,500 sq. ft. mixed use scheme following its acquisition of the Clarges Estate last year. The site totals almost one acre bounding London’s Piccadilly and includes residential, offices and retail. Planning consent for an earlier scheme was granted in April 2011 but the new plans mean the development’s office element will be re-modelled from 91,000 sq. ft. to 47,500 sq. ft to sit on the ground floor and six upper floors with facades to Clarges Street and Bolton Street.

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City approves plans for new offices by Fire of London Monument

by • Architecture, News, Property

New office development by Fire of London Monument

The City of London has granted planning permission for the development of an 88,000 sq ft (8,175 sq m) office-led scheme, next to the historic Monument column which commemorates the Fire of London in 1666. The project by Skanska Project Development Ltd (SPDL) will see the existing buildings at 11-15 Monument Street, 46 Fish Street Hill and 1-2 Pudding Hill replaced with around 85,000 sq ft (7,896 sq m) of offices on nine floors, with floorplates of around 10,000 sq ft (929 sq m), and 3,000 sq ft (278 sq m) of ground floor retail accommodation. Work is expected to start on site later in the year with completion scheduled for 2015.

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Report highlights changing occupier demands in City of London property

by • Knowledge, News, Property

City of London coat of arms by GuildhallA new report from DTZ has outlined the ways in which the City of London property market is changing in response to occupier demand. As has been revealed in previous recent surveys, one of the most significant factors is a shift in focus away from the City’s traditional financial services heartland towards the technology, media and telecoms (TMT) sector.  Other structural changes include greater demand for different types of facilities from law firms as the legal sector adjusts to developments in its own market. The broader base of tenants and the expected economic upturn will mean a gradual improvement in demand although the report concedes that even by 2017, the market will not have returned to its peak.

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London calling for Green Sky Thinking events

by • Architecture, Environment, Facilities management, News, Property

GST13-ButtonIf you’re looking for some practical guidance on sustainability check out a free London-wide event, Green Sky Thinking, a week-long series of free sustainability-focused events showcasing innovative and practical solutions to greening London’s built environment, which runs across London from 15-19 April. Ranging from onsite project talks, round-table discussions, pecha kuchas and seminars, it offers attendees the inside view from top experts, industry leaders and collaborative teams to understand innovations and what works in practice. Victoria Thornton, Founding Director of Open City, said: “The value of Green Sky Thinking Week is offering the solution of ‘how’ to make London’s built environment  sustainable.” (more…)

$16m revamp of High Commission in London to showcase Canada’s identity

by • Architecture, News, Property, Workplace design

Canada HouseAs part of the Canadian government’s consolidation of its diplomatic mission in the UK, it has put up for sale MacDonald House in Grosvenor Square in London and will look to develop its other main building Canada House in Trafalgar Square. MacDonald House was formerly the American Embassy until 1961 and the Canadian Government has been looking to consolidate its operations for a number of years. As well as moving its functions under one roof, the Government has earmarked $16 million for a revamp of Canada House which will also be designed to showcase Canadian values and know-how.

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London’s Fit Cities event explores architecture and wellness

by • Architecture, News, Workplace

435x200_Fit_Cities

London is host this week to an event that brings together architects, planners, designers, developers, and public health professionals to explore how building design and policy decisions can make communities healthier, helping prevent diseases such as obesity, diabetes, heart disease and some cancers. The Greater London Authority is holding the event in the wake of the 2012 Olympic and Paralympic Games to explore how active design principles were applied to the events and their legacy and to hear how plans are developing around major events coming up in Sochi, Glasgow and Rio de Janeiro.

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London’s West End office market shifting boundaries

by • Facilities management, News, Property

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Shifting occupier dynamics, a limited supply pool, and a flurry of west to east relocations is redefining the boundaries of London’s West End office market. Sue Foxley, head of research, Cluttons, explained: “Corporate occupiers recognise the importance of securing high quality space within key markets in order to attract and retain the best possible staff, however, it is inevitable that the increasingly restricted supply pool is continuing to hamper relocation options. Businesses, regardless of sector, certainly are not looking for ‘budget’ rental options, but they are becoming increasingly aware that opportunities to secure quality space is scarce and not limited to prime areas.”

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Hong Kong and London world’s most expensive cities for start ups

by • Knowledge, News, Property

Hong KongA new report from property consultants Savills based on the total cost of setting up in business in the world’s major cities has today revealed that Hong Kong is the most expensive of the ten cities in which to locate, with London in second place and New York a close third. The total real estate cost of setting up business in all three cities is now almost three times that in the best priced world capitals, Shanghai and Mumbai. The report will be published in full on the 20th March as The World Cities Review and includes measures of headline rent, tax and other charges.

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Portland House is London’s latest major offices to homes conversion

by • Architecture, Products, Property, Technology

Portland HouseLand Securities is the latest developer to announce a major office to flats conversion in the wake of the Government’s change to the relevant parts of the planning system that make it easier to change the use of buildings. The firm has submitted plans to convert the 29 floors of Portland House in Victoria into 206 flats along with ground floor retail units. Land Securities is one of the first firms to take advantage of the new planning rules which have been the subject of much criticism by organisations such as the Royal Institute of British Architects (RIBA) as well as local authorities throughout London who have almost unanimously sought exemptions.

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Liverpool and London regeneration projects get green light

by • News, Property

Liverpool Waters

Liverpool Waters

Two huge regeneration projects, one in Liverpool and one in London, have been approved today. The Community Secretary Eric Pickles gave the uncontested go-ahead for the £5.5 billion Liverpool Waters scheme at the same time as London Mayor Boris Johnson green lit the £1.5 billion regeneration of the 23 acre Heygate Estate in Elephant and Castle, South London. Both will provide a much need fillip to the UK’s moribund construction sector, creating thousands of new jobs as well as thousands of new homes, offices, shops, restaurants and other buildings in rundown areas of the two cities.

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