May 4, 2022
Nearly two thirds of American employees are resisting the calls for a ‘return to the office’, according to a poll published in The Hybrid Performance Review from Poly. The firm surveyed 5,000 US employees and employers to uncover how workspaces, technology, and personality traits impact performance; and how employers are responding. More →
May 2, 2022
Six workplaces across the North of England and Northern Ireland have been recognised at the annual British Council for Offices (BCO) Regional Awards today. The Northern BCO Awards dinner returned in-person to the Kimpton Clocktower in Manchester, recognising the North’s highest quality developments and setting the standard for excellence in the office sector across the UK. More →
April 28, 2022
The start of 2022 saw a jump in new tenants looking to rent UK commercial property, with the uplift particularly prevalent in prime office space. Investor enquiries across all UK commercial property also continued to rise, according to the RICS Commercial Property Market Survey, Q1 2022. Respondents to the survey saw a notable increase in UK office demand in Q1 2022 with the net balance improving to +30 percent from a flat picture at the end of 2021. A considerable change in sentiment was also seen in the retail sector, as occupier demand moved into relatively neutral territory (-1% net balance), the first time this reading has been neutral or positive since the beginning of 2017. More →
April 28, 2022
Six London workplaces have been recognised at the annual British Council for Offices’ (BCO) Regional Awards. The London Awards Lunch returned in-person to the London Hilton on Park Lane, recognising the highest quality developments in London and setting the standard for excellence in the office sector across the UK. The winning workplaces include: 80 Charlotte Street (Commercial Workplace); Plumtree Court, 25 Shoe Lane (Corporate Workplace); Dojo, The Brunel Building, 2 Canalside Walk (Fit Out of Workplace); ASOS HQ, Greater London House, 180 Hampstead Road (Refurbished/Recycled Workplace); Pennybank , 33-35 St John’s Square (Projects up to 1,500m sq. ); 1 Triton, 1 Triton Square, Regent’s Place (Innovation) More →
April 28, 2022
Over two-thirds of UK office workers would consider returning to the office full-time if employers covered commute costs, an Emburse/YouGov poll suggests. The survey of 1,000 British employees, of which 724 worked in an office, were asked questions around their new working preferences in order to understand what the ‘future of work’ looks like. Around 68 percent said that they would be likely to consider going into the office full time if transport costs to the office were fully covered. More →
April 21, 2022
Future Forum, a consortium launched by Slack with Boston Consulting Group, MillerKnoll and MLT to “help companies reimagine work in the new digital-first workplace”, has released the latest findings from its global Pulse study, which shows that employee experience scores are plummeting for knowledge workers who have been asked to return to the office full-time and for those who do not have the flexibility to set their own work schedules. More than a third of knowledge workers (34 percent) are now working from the office five days a week, the greatest share since Future Forum began surveying in June 2020. With this shift, employee sentiment has dropped to near-record lows, including 28 percent worse scores on work-related stress and anxiety and 17 percent worse scores on work-life balance (compared to last quarter). More →
April 14, 2022
When Donald Trump was pictured at the tail-end of his tenure as President, sitting uncomfortably at a table that looked like it had been retrieved from a skip, it provoked the sort of sneering commentary about office furniture choices previously seen when Dominic Cummings popped in to the Downing Street garden to deliver some self-serving blather from behind a rickety trestle. More →
April 14, 2022
Larger office occupiers are getting to grips with the fallout following the pandemic and are now reassessing their office property needs, according to a new YouGov survey commissioned by law firm Irwin Mitchell. The survey of over 500 office property decision makers shows that nearly half (46 percent) of large businesses and (39 percent) of medium sized companies plan to rethink their office space- whether by upsizing, downsizing, or relocating. The survey shows that one in five large businesses plan to increase their existing office space, with the same proportion looking to reduce space and 5 percent to relocate. In addition, 11 percent are looking to reconfigure their existing space. While 37 percent plan to stay the same. More →
April 14, 2022
Higher fit-out costs and service charge growth, not rent rises are set to increase office occupier costs in 2022, claims a new report. Savills analysis of Q1 22 Prime Office Costs (SPOC) in global markets around the world has shown that higher fit-out costs, reflecting material and labour cost inflation, are beginning to creep through in some office markets. While overall there has been no movement in the position of cities in the rankings since the end of 2021, says Savills, some markets are experiencing rising costs in fitting out space and increased service charges. According to Savills this trend is most evident in Chinese cities, Kuala Lumpur, and in North American cities at the moment, but other markets across the globe are set to follow suit in the coming quarters.
Jeremy Bates, head of EMEA occupational markets at Savills, comments: “From higher prices for raw materials to increasing labour costs to keep up with rising inflation, it’s likely that most office occupiers will have to pay more to rent and fit-out their space in global cities this year.
“Whilst rent is the usual indicator of increasing cost, service charge rises and higher capital expenditure will represent the largest contributions towards increased occupier costs in the coming quarters. Even in markets where landlords tend to pay for fit-outs, these costs will eventually be passed on to occupiers later in the form of higher rents. Nonetheless, for many office occupiers the expense is unlikely to deter them from selecting top quality spaces in prime central business districts to attract and retain talent, although they are carrying out extensive data gathering exercises on how employees are using space before making decisions on exactly how much to take.”
Savills says that overall headline rents have, on average, remained flat in local currencies and the increasing additional costs have yet to appear across many markets, according to the international real estate advisor, with fluctuating exchange rates due to increased uncertainty producing the appearance of declining costs for many markets in Dollar terms during the first quarter of 2022, while in local currencies they have broadly remained consistent with Q4 2021.
April 13, 2022
The idea of the cargo cult derives from anthropological observations made about the behaviour of societies that encounter more technologically advanced societies. In particular it is rooted in those rituals and objects created by Pacific islanders in an attempt to attract modern goods and technology and generally earn favour with people who they thought could prevent terrible events. More →
April 12, 2022
In the Discworld series of novels, the author Terry Pratchett introduces us to the colour of magic. He calls it octarine, a sort of greenish purple, described as ‘the undisputed pigment of the imagination’. It’s all fanciful but, in fact, such unseeable colours exist for the human eye. They are seemingly invisible to us most of the time because of the limitations of our vision and not just because they exist outside of the usual visible spectrum. More →
April 25, 2022
What Jacob Rees Mogg really got wrong about working from the office
by Mark Eltringham • Comment, Flexible working, Property