Search Results for: office

Regional office market remains strong and embraces the co-working revolution

Regional office market remains strong and embraces the co-working revolution

by • Cities, Facilities management, Flexible working, News, Property

Artisan Real Estate’s New Waverley scheme in EdinburghThe creative industries sector accounted for over a third 35 percent) of take-up in the regional office market in the first half of the year, with this sector in particular driving the co-working revolution and the provision of flexible office space. Latest figures in CBRE’s H1 2017 Property Perspective, which monitors the performance of ten regional cities, overall, the UK’s regional office markets saw continued demand in the first half of 2017, with office take-up reaching 2.8 million sq ft, only slightly lower than the five-year average. For the first half of 2017, several cities witnessed improved levels of take-up when compared with the first half of 2016, these include Aberdeen, Edinburgh, Leeds and Manchester. Select locations such as Reading, Maidenhead and Watford also saw a continuation of record rents being set during the first half of the year, which has largely been driven by the delivery of new developments.

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Office sector undergoing transformational structural disruption in response to changing supply and demand

Office sector undergoing transformational structural disruption in response to changing supply and demand

by • News, Property

Amid varying economic performances and property fundamentals, North American and European office leasing markets are generally performing well as they undergo an important shift in dynamics influenced by trends transforming both occupier demand and the supply of new product. Traditional drivers of demand are being joined by emerging disruptors that will increasingly shape the future of the office-space market and commercial real estate as a whole. These are some of the key trends noted in Avison Young’s Mid-Year 2017 North America and Europe Office Market Report. According to the report, of the 64 office markets tracked in North America and Europe, which comprise almost 6 billion square feet, market-wide vacancy rates decreased in 40 of the markets as nearly 52 million square feet was absorbed. Occupiers’ desire for new products remains strong and developers have responded, according to the report, with more than 62 million sq. ft. of office space was completed during the 12-month period ending June 30, 2017.

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UK workers find it particularly hard to take a proper holiday break from the office

UK workers find it particularly hard to take a proper holiday break from the office

by • Flexible working, News, Technology, Wellbeing

It may still be the summer holiday season but if you’re finding it easier than you’d expect to get hold of people, it’s because they’re probably checking their emails on the beach. A new survey by Wrike claims that 73 per cent of British employees work while on holiday. The main reason? They can’t relax unless they know everything is going okay in the office. Those from France and Germany have a slightly more relaxed state-of-mind. While 35 per cent of UK workers said they feel better keeping in touch with the office and the Germans aren’t that far behind, with 30 per cent saying keeping one eye on their work was the key to relaxation; in France only 22 per cent felt the same. Brits also said that working while away was because they were hoping to minimise the amount of work they would have to come back to (22 per cent).

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One in five UK office workers admit they struggle with tech more than colleagues

One in five UK office workers admit they struggle with tech more than colleagues

by • Facilities management, News, Technology

The digitisation of the workplace may be seen as a boon to productivity, but that also depends on how well it’s being adopted by the workforce. A new survey claims that one in five (23 percent) UK office workers struggle with technology; and helping to solve the problems of these less tech-savvy employees takes up an average of 17 minutes of their colleague’s working day. The survey from memory and storage firm Crucial, found that work with an average of four colleagues in their office that are less tech-savvy than them. These colleagues always seem to encounter IT problems at work, distracting 62 percent of the UK workforce and costing businesses lost time fixing issues. Just over one in five (23 percent) British office workers admitted that they felt they were one of the less tech-savvy colleagues. A third of these aren’t worried about being less tech-savvy because they have other skills, another third (34 percent) admitted trying to fix tech problems themselves but always end up calling someone else, whilst 26 percent know someone will fix it for them anyway.

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Whatever you might be told, this is not the Office of the Future

Whatever you might be told, this is not the Office of the Future

by • Comment, Facilities management, Technology, Workplace design

office of the futureIt seems like we don’t have to wait more than a few days at a time before some or other organisation is making its own prognoses about how we will be working in the future, especially at this time of year. The thing these reports about the office of the future all share in common, other than a standardised variant of a title and a common lexicon of agility, empowerment, collaboration and connectivity, is a narrow focus based on several of their key narratives and assumptions. While these are rarely false per se, and often offer some insights of variable worth, they also usually exhibit a desire to look at only one part of the elephant. The more serious reports invariably make excellent points and identify key trends, it has to be said. However, across them there are routine flaws in their thinking that can lead them to make narrow and sometimes incorrect assumptions and so draw similarly flawed conclusions. Here are just a few.

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Link between offices and wellbeing is too important for landlords and occupiers to ignore

Link between offices and wellbeing is too important for landlords and occupiers to ignore

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

Developers and landlords who invest to create offices that embody the occupier-driven focus on wellbeing will reap their rewards commercially while those that don’t face diminishing returns, according to a new report from Cushman & Wakefield. The Well Workplace report claims to map out the major trends, opportunities and challenges of the future facing owners and occupiers of commercial office space due to the growing emphasis on employee health and vitality as part of the work environment.  Improved lighting, layout and use of plants are all known to benefit wellbeing and can increase employee performance. Gains through boosting performance far outweigh potential cost savings through real estate efficiencies – making the imperative for occupiers clear, according to the report’s authors.

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BCO predicts how Brexit might impact on demand for office space to 2022

BCO predicts how Brexit might impact on demand for office space to 2022

by • Facilities management, Legal news, News, Property, Workplace

Commercial property occupiers remain cautious about the future, and hard data indicates that demand has, so far, been largely unaffected by Brexit, claims a new report from the British Council for Offices (BCO) . ‘Brexit and its Potential Impact on Office Demand’, examines how Brexit might impact on demand for office space on a national and regional basis through to 2022. According to the report, almost one year on from the Brexit vote the situation is one of uncertainty, feeding through to slower growth, with ‘an almost palpable sense that choppy waters lie ahead, particularly with regard to trade and movement of labour’. However, businesses continue to make long-term investments in the national economy and even in the City, some large investment banks have committed to large new office buildings. There is much variation in the relative performance of the UK’s major office centres, though, with some expanding and others apparently in decline.

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The provision of cycling facilities in offices is failing to meet a growing demand

The provision of cycling facilities in offices is failing to meet a growing demand

by • Facilities management, Legal news, News, Wellbeing, Workplace

The quality of the cycling facilities being offered by many workplaces are currently falling short and risk undermining a Government drive to increase the number of people cycling to work; as according to new research published by the British Council for Offices, 16 percent of office workers claim that inadequate facilities are discouraging them from considering commuting by bike. In April, the Department for Transport stated an aim to double the number of cycling stages, defined as a change in the form of transport as part of a longer “trip” (e.g. cycling to the train station before catching a train to work), from 0.8 billion stages in 2013 to 1.6 billion in 2025. However, new research, commissioned by the British Council for Offices and carried out by Remit Consulting, finds that whilst 83 percent of workplaces in the UK offer some form of bike storage, less than half (47 percent) of this is covered and secure. Improved parking facilities could help increase numbers of those cycling to work, with 16 percent of office workers surveyed saying that better bike storage would encourage them to do so.

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Serviced and coworking offices top London leasing market for the first time

Serviced and coworking offices top London leasing market for the first time 0

by • Coworking, Flexible working, News, Property

 Serviced and coworking office space providers have accounted for the largest share of space leased in Central London for the first time, according to new research from Cushman & Wakefield. During the first half of 2017, serviced office or co-working providers – such as WeWork and The Office Group – accounted for 884,235 sq ft of newly-leased office space in central London. The second quarter of the year in particular witnessed a dramatic escalation in activity by serviced office and co-working providers with 651,540 sq ft leased – around a quarter of central London’s take-up across April, May and June. This was more than London’s traditionally dominant occupational sub-sectors such as technology, media and financial services. The H1 2017 total is more than serviced office and coworking providers accounted for in the whole of 2016 (853,178 sq ft). and is just a deal or two shy of the sector’s average annual take-up between 2012 and 2016 (908,972). It seems certain therefore that serviced office and co-working providers will this year surpass their record annual volume of 1,267,926 sq ft set in 2014, according to the firm.

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Middle-aged office workers are now more sedentary than pensioners, finds study

Middle-aged office workers are now more sedentary than pensioners, finds study 0

by • News, Wellbeing, Workplace design

Most middle-aged office workers now spend as much time sitting down as older pensioners, according to a report. The research claims to have overturned previous studies that suggested that older adults are the most sedentary age group in the UK, when it appears to be middle aged office workers who move the least. The study highlights the potential health risks of excessive sitting at work. The study found that 45 to 54-year-old men spend on average 7.8 hours per weekday sitting down, compared with 7.4 hours for the over-75s. Sedentary work is the main reason for this inactivity. Researchers drew upon data from more than 14,000 people in Scotland, taken from the 2012-14 Scottish Health Survey. The findings from the University of Edinburgh’s Physical Activity for Health Research Centre are published in the Journal of Sports Sciences. Only the youngest group of men surveyed – 16 to 24-year-olds – are significantly less sedentary than the over 75s on weekdays.

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Commercial property giant acquires controlling stake in London based flexible office provider

Commercial property giant acquires controlling stake in London based flexible office provider 0

by • Company news, Flexible working, Property

While we should never read too much into a single piece of business, the news that one of the world’s largest property investors is buying a young and still growing British flexible office provider is surely a sign of things to come. As Blackstone, a private equity giant with £140 billion of real estate assets worldwide acquires a controlling stake in The Office Group for £500 million, we must view the deal in the context of a market in which the most dynamic players are WeWork and its contemporaries. The Office Group has grown from seven buildings to thirty-six since it was founded in 2003 and provides flexible office and coworking space to start-ups, freelancers, small businesses and increasingly, corporates such as Facebook, Dropbox and British Gas.

Technology that creates a virtual office is biggest catalyst of change in the workplace

Technology that creates a virtual office is biggest catalyst of change in the workplace 0

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

Companies are increasingly using sophisticated technology offerings as a way to attract and retain talent, as faced with a competitive hiring environment, and rising occupancy costs they must create a user experience that makes employees more efficient and effective and the office the preferred place to work. This is according to CBRE Research’s latest Global Prime Office Occupancy Costs report (registration needed) which found – not uniquely – that technology is the biggest catalyst of change in the workplace today, as mobile devices, virtual networks, videoconferencing and cloud storage create a seamless transition from the physical workplace of the 20th century to the virtual workplace of the 21st century. This technology is also being used by occupiers to understand and manage their occupancy patterns in sophisticated ways and create an environment that maximises employee efficiency.

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