Search Results for: office

London office construction declines to three year low

by • Cities, News, Property

The development of new offices in central London has declined, according to the latest London Office Crane Survey by Deloitte Real Estate. Construction activity now totals 12.6 million sq ft, a 9 percent drop since the previous survey (six months ago). The survey reports 25 new office schemes starting construction, adding 1.8 million sq ft into the development pipeline. This is the lowest amount of new space started in over three years and 21 percent below the crane survey average. Refurbishment schemes once again dominate the new starts with 16 offices accounting for 70 percent of the volume. However, refurbishments are generally smaller scale than new-builds so the average size of schemes starting this survey has fallen to 73,000 sq ft, lower than the long-term average of 97,000 sq ft.

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The missing LINC between the office and the future of work

by • Features, Flexible working, Technology, Workplace design

There is a theory that if you want to know how the economy is doing, you ask a taxi driver. The basis for this idea is that they are the first to know when money is getting tight, because people make more use of buses and tubes. In a similar way, one of the best ways of gauging workplace trends is to ask an office furniture company. They’ve always functioned in a fiercely competitive market, but are also the first to notice an economic downturn or a shift in the structure of their markets.

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Falling supply and growing demand for affordable office space in London is putting undue pressure on SMEs

by • Cities, News, Property

As the pressure grows for small businesses to find affordable workspace in the UK’s capital, the London Assembly has published a new report that looks at ways of addressing the underlying issues, especially a fall in the availability of appropriate space. According to the Assembly, the pressure on affordable workspace for SMEs in London is increasing. Sixteen per cent of industrial land was lost between 2001-2015 and if the trend continues, industrial land in London could fall a third by 2041. In outer London, almost one fifth of workspace could be lost to residential homes and since 2013, the relaxation of permitted development rights has led to the conversion of 1.47 million square metres of office space to residential homes.

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Serviced offices and coworking spaces boom in Manchester in response to growing customer demand

by • Coworking, News, Property

Rising demand from businesses for flexible working space has sparked a boom in the provision of coworking spaces serviced offices in Manchester in 2017, according to the latest office market snapshot by real estate advisors Colliers International. The report showed serviced office providers addressed the need for flexible working from small and growing operators by taking in excess of 100,000 sq ft of space in Manchester in the first three quarters of 2017. Major developments included global co-working specialist WeWork following the opening of its first office outside London at No 1 Spinningfields by adding another 44,000 sq ft at One St Peter’s Square and property developer Allied London launching its own co-working brand All Work & Social to operate alongside WeWork at Spinningfields.

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Office rents begin to fall in Central London as Brexit uncertainty bites

by • Cities, Facilities management, News, Property

Office rents have begun to slip across Central London, and the chief reasons could be uncertainty around the outcome of the Brexit talks and the UK seemingly missing out on the rising level of global trade, suggests Cluttons’ London Office Market Bulletin Autumn 2017. While the report highlights that many locations in Central London have seen headline office rents hold steady for the better part of two years, rent free periods have been moving out in order to sustain this, but now appear to be at a critical tipping point, level, which is driving some landlords to consider alternative incentives, such as delayed completions. Freddie Pritchard-Smith, Head of commercial office agency at Cluttons said: “Many firms remain nervous about making a long-term commitment to more space, choosing either flexible overflow space or to reconfigure within their existing office. The exception to this of course remains the serviced office and TMT sectors, who have helped transactional levels in the West End to surpass 4 million sq ft already this year, which is paradoxical to the falling rental conditions.”

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UK offices lack the features needed to boost productivity and wellbeing of introverts

by • News, Wellbeing, Workplace design

A poll from Office Genie claims that Britain’s workplaces are in need of a makeover, with many not catering to employees’ needs. According to the survey of around 1,500 people, workspaces are lacking distinct, tailor-made areas that could enable employees to work more effectively, particularly introverted workers. After surveying 1,456 British office workers, the poll suggests the majority of workplaces do not have areas that aid lone-working (67 percent), offer privacy (54 percent), or opportunities for quiet work (58 percent). They also do not have spaces that promote collaboration (45 percent) or provide chill-out areas for staff (74 percent). Respondents were asked if their workplace allows them to carry out their work comfortably and 20 percent stated it does not. Worryingly, of that number, 70 percent claim it affects their desire to come to work. In terms of improved wellbeing and productivity, chill-out areas, quiet areas, and private spaces are top of workers’ lists.

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Division of workplace hierarchy on impact of office design and flexible working

by • Facilities management, Flexible working, News, Workplace, Workplace design

 

There is a divide in the importance placed on the office environment among different levels of the UK workforce, with new research suggesting C-Suite executives do not fully appreciate the factors that keep employees happiest at work and the impact that the office environment has on their employees’ productivity and wellbeing. According to the new research by Peldon Rose and are happier and work most productive in the office, 88 percent  of middle management and 84 percent of junior employees say they always or sometimes enjoy coming to work every day compared to 76 percent of C-Suite executives. In addition, junior and middle management employees are more inclined to work in the office, with 62 percent and 63 percent, respectively, saying they prefer to work in the office over at home (29 percent, 30 percent) compared to C-Suite who prefer to work at home (40 percent) rather than the office (24 percent). As a result, just a quarter of junior employees believe their office has a culture that allows them to work flexibly compared to nearly half of C-Suite.

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Prestige of a London office location continues to drive demand among SMEs

Prestige of a London office location continues to drive demand among SMEs

by • Cities, Facilities management, News, Property

Leo offices in MayfairThe London office market remains a buoyant market despite Brexit uncertainty, as many organisations see it as the most prestigious location for businesses of any size. In research conducted by London Executive Offices (LEO) 60 percent of entrepreneurs and business executives would choose London as their business location for allowing good access to customers; 57 percent say that start-ups have the best chance of success if located in London, and that they could achieve annual growth of 20 percent by being based in the capital. Over half of those surveyed strongly believe that a London office address creates a better perception of their business. LEO’s findings also demonstrate that certain London locations remain traditionally associated with particular sectors. Of those financial companies surveyed, 73 percent would choose established financial services hotspots Bank and Canary Wharf to base their start-up. Office space in the City remains an attractive proposition, evidenced by LEO’s recent launch at 1 King William Street at over 80 percent let.

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Office ping pong tables a waste of money as solution to low productivity

Office ping pong tables a waste of money as solution to low productivity

by • News, Technology, Wellbeing, Workplace, Workplace design

Over half (55 percent) of UK employees are productive for less than 30 hours per week yet UK employers plough money into quirky benefits that a majority of employees see as a distraction a new report claims. New research from Sage. ‘Why your workforce isn’t working’ found that while many companies invest in quirky benefits to keep staff happy, their employees aren’t impressed. Only 9 percent believe company outings are a valuable benefit, and even fewer were favourable on office games such as ping-pong – with only 6 percent saying they value it as part of the work experience. In fact, in some cases people felt these were doing more harm than good: with over half (55 percent) saying that they are distracting and decrease productivity. Commissioned by Sage People, the study spoke to 3,500 global workers to uncover what people really want from their employers. The UK findings show the disconnect between the benefits employers provide and what employees want.

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Future office and changing business of work debated at Workplace Trends

Future office and changing business of work debated at Workplace Trends

by • Comment, Coworking, Facilities management, Technology, Wellbeing, Workplace design

Those working within the built environment are already in the change business, was the view of Neil Usher of workessence in his presentation at the Workplace Trends Conference which was held in London this week. This was apt, as the changing business of work’ was the theme of the conference. It’s a pretty common topic these days of course but a strong line up of speakers ensured some interesting discussions; which included the rise of the gig economy, the variety of ways people from different cultures perceive workplace design and predictions on the workplaces of the future. On the current design and fit out of the office, Usher was clear; that creating a fantastic workplace is independent of culture, location, the work style you want to create and the sector in which you’re working. His other mantra was that you can still work in an awful workplace with great technology, but not the other way around, which is why there is no excuse for not getting your technology right.

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Record demand for London West End offices boosted by tech and media firms

Record demand for London West End offices boosted by tech and media firms

by • Facilities management, News, Property, Technology

Spotify has acquired offices at The AdelphiTake up of new commercial offices in London’s West End in September 2017 hit the highest quarterly total on record – with tech and media firms, along with serviced office schemes being the most active, according to figures from real estate advisor Savills. The take-up was 857,259 sq ft (79,639 sq m) – bringing total take-up by the third quarter to 1.62 million sq ft (150,498 sq m). Leasing activity in the third quarter of 2017 brings total take-up year to date, to 3.99 million sq ft (370,671 sq m), which already surpasses 2016’s total annual take-up (3.97 million sq ft) and places the West End in a strong position to exceed the record 4.3 million sq ft (399,470 sq m) amassed in 2015. Key deals that helped elevate the market included: Aegis pre-letting the entire 310,000 sq ft (28,799 sq m) at British Land’s 1 Triton Square; The Boston Consulting Group pre-letting 123,500 sq ft (11,473 sq m) at 80 Charlotte Street and Spotify acquiring 104,133 sq ft (9,674 sq m) at The Adelphi.

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Working conditions and office design shown to impact on employee performance

Working conditions and office design shown to impact on employee performance

by • Facilities management, News, Wellbeing, Workplace, Workplace design

Link made between impact of workplace conditions and office design on performance

New evidence of a strong correlation between productivity, creativity and even profitability with employee working conditions, such as: light, air, noise, health, culture, design, movement and the quality of furniture have been established in a new report. The syndicated research project, Wellness Together, carried out by Sapio Research, of 1000 UK based office workers and 50 Facilities Management experts, suggests a strong link between people feeling catered and cared for by their workplace/employers and how this impacts business performance. Wellness at work is a dominant theme in any discussion about the workplace. But this is not just a discussion about happiness, it is about creating cultures and environments that are conducive to commercial success. The study identifies that in order to achieve true ‘Wellness’ attention to every single component that can impact mental and physical health needs to be considered, from building structures and company cultures through to the physical furniture and fittings that employees require to work efficiently and effectively.

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