May 29, 2013
Crown Estate in £320m joint venture to redevelop area around Regent Street
The Crown Estate, which manages the Queen’s property portfolio has announced a joint 50/50 – £320 million venture with Canadian real estate company, Oxford Properties. The Crown Estate, which will retain the freehold and take the lead role in the development says the St James’s scheme will provide 210,000 ft2 of prime office and 50,000 ft2 of flagship retail and restaurant space in two blocks located between London’s Regent Street and Haymarket. The project forms part of the Crown Estate’s ten-year investment strategy for St James’s and will transform a run-down back street service yard and taxi ‘rat-run’ with: “a fantastic new amenity for St James’s, revitalising half and acre of public realm and creating a new 10,000 ft2 pedestrian square for world-class business, shopping and dining.” More →
May 30, 2013
UK public sector leading the way in procurement and sustainable building
by Paul Statham • Comment, Facilities management, Public Sector, Technology
Nottingham City Council’s Loxley Building
Over the last few years, the UK Government has grown increasingly interested in finding ways of making its £30 billion property portfolio more efficient. Both the last Labour government and the current Coalition administration have been driven by the opportunities offered them with the advent of new technology, new ways of working and new procurement models. They’ve pursued these issues to cut costs by reducing and changing the way property is designed and managed but have also found how that can also help to establish best practice in sustainable building. What is increasingly apparent, especially given recent news from the Major Projects Authority about cost savings in procurement is that the public sector is now leading the way as models of good practice.
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