Search Results for: office

September 10, 2015

Shared office ruling could cost Scottish firms millions more in rates ⁰

by Sara Bean • Facilities management, Legal news, News, Property

Large firms that occupy several separate floors in a prime office may need to pay tens of thousands of pounds more in rates, property managers have been warned. The decision by the UK Supreme Court on business rates in shared office buildings will lead to higher fees for many businesses in Scotland, according to commercial property experts at Colliers International. The firm says that the case of Woolway Valuation Office v Mazars, in which the Supreme Court held that businesses occupying space across several floors should pay separate rates for each, will lead to changes in valuations across the country that will cost firms millions of pounds. Up until now, such arrangements were charged as a “single occupation” and benefited from economies of scale. Paying for two separate sets of rates is likely to be more expensive, and the court decision even allows for the changes to be implemented retrospectively.

September 3, 2015

Three quarters of US workers avoid the office to get important work done ⁰

by Mark Eltringham • Flexible working, News, Wellbeing

Three quarters (76 percent) of US workers surveyed by online job site FlexJobs say that when they need to get important work done, they avoid the office completely. Of over 2,600 respondents, 50 percent reported that their home is their location of choice to be most productive on important work-related projects. Another 12 percent said they would choose a coffee shop, coworking space, library, or other place besides the office. Fourteen percent would choose the office but only outside standard hours, leaving less than a quarter who prefer the actual office during regular working hours as a place to complete important work. The main reasons for fleeing the corporate embrace were to avoid interruptions from colleagues (cited by 76 percent), escape distractions (74 percent), evade office politics (71 percent), reduce the stress of commuting (68 percent) and work in more comfortable surroundings (65 percent).

August 28, 2015

The reason offices will always be needed is tied up with human nature

by Nigel Sikora • Comment, Flexible working, Technology, Workplace design

People have a tendency to confuse what is possible with what will happen. This appears to be a particular issue when we consider the effects of new technology. Hence the enduring talk of the death of the office, which technology makes possible but which people make impossible. One of the key areas of research that describes this tension is the work of Tom Allen at MIT. Allen made his name in 1984 with the publication of a book called Managing the Flow of Technology which first popularised the Allen Curve, a graph of his research findings which shows a powerful negative correlation between physical distance and the frequency of communication between colleagues. So precisely can this be defined, that Allen found that 50 metres marks a cut-off point for the regular exchange of certain types of technical information.

August 24, 2015

Demand for commercial office space in UK cities continues to surge ⁰

by Mark Eltringham • Cities, News, Property

According to the latest quarterly update from property advisors Knight Frank, demand for commercial office space in the UK’s regional markets remains remarkably strong, driving upward pressure on rental prices and increasing the demand for new commercial property developments. According to the report, demand is up by around a half compared to the previous quarter, with Birmingham enjoying the largest increase of around 400 percent. Strong economic growth is reflected in healthy occupier demand, which saw a total of 2.08m sq ft taken up in the three months to the end of June, which was 51 percent ahead of the first quarter and 49 percent above the five year quarterly average. The stand out let was HSBC’s at Birmingham’s Arena Central development (top) which accounted for fully half of the city’s take up of space and which we reported here.

August 5, 2015

Using office relocation as a vehicle for positive organisational change ⁰

by Lee Parsons • Comment, Facilities management, Workplace, Workplace design

The impact of office relocation can no longer be solely measured in immediately tangible terms. This doesn’t mean market factors can be dismissed, especially given CBRE’s recent announcement that office vacancies are at an all-time low while rents skyrocket and favourable terms for tenants erode. However, in an era where 67 percent of workplaces cite employee attraction and retention as the most important driver of their workplace design, and 46 percent cite productivity, the human factor also can’t be ignored. If such CBRE statistics aren’t challenging enough, there are also the realities of the modern workspace to contend with, such as creating an environment that suits generations of employees. It’s these human impacts that drive the importance of workplace design and urge top-flight businesses to use office relocation as a vehicle for positive change. Here are some of the latest findings.

July 30, 2015

Far from dying out, the office is becoming more essential than ever

by Luke Finch • Comment, Technology, Workplace design

Samsung recently released a new report which explores how our offices might look in the year 2025. The death of the office has been predicted over and over again, however the Samsung Smarter Futures Report goes against the grain and predicts that the office could actually become more important than ever. Driven by the adoption of smart technology the report claims that offices will become hubs for productivity and collaboration and what Samsung calls ‘Creative Villages’. Smart technology will create devices and systems that take notes, automate admin tasks, organise meetings and deliver information as you need it. This will mean employees have more time for face to face communication and collaborative work. As a consequence, current trends such as flexible working and agile workspace could actually become less of an issue than they are currently.

July 24, 2015

Growth in demand for scarce office space will lead to rents rise

by Sara Bean • Facilities management, News, Property

Demand from business for commercial property rose for the eleventh consecutive quarter, while available space fell for the ninth successive period, according to the latest RICS Commercial Market Survey. As a result, rents are expected to rise at the fastest pace since the survey began in 1998 with 46 percent more respondents forecasting higher, rather than lower, rent rates going forward. Offices remain the segment of the market where rental expectations remain most buoyant, while retail continues to lag, although even in this area, momentum is picking up. Across the whole of the UK, but excluding the capital, 95 percent of respondents believe that current commercial market valuations are either at or below fair value (roughly unchanged since Q1 2015). However, in London 50 percent of contributors now feel that commercial office space valuations are ‘expensive’ – an increase from 45 percent in the first quarter of this year.

July 21, 2015

Neocon highlights four of the world’s most important office design trends

by Neil Franklin • Comment, Events, Workplace design

We live in the Global Village, Marshall McLuhan’s idea from 1962 of an electronically contracted world in which attitudes, cultures and our political, business and legislative framework begin to pull together. Yet each nation is shaped by little differences. That is why the comedy programme The Office found an audience on both sides of the pond, but one that needed Wernham Hogg in Slough to become Dunder Mifflin in Scranton, Pennsylvania for it to work for the local audience. The central idea of the show has a universal appeal but needs a local voice. And what is true for The Office with a big O is also true for the office with a small o. This was the takeaway conclusion of a series of events staged in London and Manchester last week by Milliken and Humanscale. The touchstone for these events was a debate about the main conclusions of of June’s Neocon.

July 21, 2015

Regional cities experiencing significant growth in office take-up

by Sara Bean • Facilities management, News, Property

City Centre office take-up across the Big Nine Cities during the second quarter of 2015 is almost 50 percent ahead of the five year quarterly average, the latest quarterly review of the regional office occupier markets by GVA has revealed. The regional office markets have continued to demonstrate a strong occupier story, led by Birmingham where take-up for the half year point has exceeded all records at 650,000 sq ft, helped by HSBC’s announcement to locate its new 212,000 sq ft retail bank HQ into Miller’s Arena Central scheme. Other centres also had above average deal levels, with take-up 65 percent above average in Leeds and well above average in most other cities. Significant deals for Leeds include a 51,500 sq ft pre-let to Addleshaw Goddard at 3 Sovereign Square and 49,600 sq ft to PwC at Central Square. Both buildings are due for completion during the second half of next year.

July 11, 2015

Agile workers beat strikes + World’s healthiest building + 3D printed office

by Sara Bean • Facilities management, Flexible working, Newsletter, Technology, Wellbeing, Workplace

In this week’s issue; Paul Carder points out agile workers were unaffected by tube and train strikes; Maciej Markowski says despite digital technological advances, companies still appear to value human interaction and Sara Bean suggests employers only encourage home-working when it is on their terms. Mark Eltringham finds two new reasons to dislike tall buildings and argues employers attempt to manage stress in the workplace in the wrong way. We learn that a Chinese 3D printing firm plans to print a fully functioning office in Dubai; Melbourne claims to have the healthiest workplace in the world and an alarming report finds that the Internet is reducing our ability to memorise and recall things for ourselves. Subscribe for free quarterly issues of Work&Place and via the subscription form in the right hand sidebar for weekly news, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

July 7, 2015

Demand for East London offices rise as occupiers seek cost effective space

by Sara Bean • Facilities management, News, Property

The amount of leased office space in London over the first half of this year is 13 percent ahead of the same time last year, according to new research published by commercial property consultancy Cushman & Wakefield (C&W). Leasing activity totalled just over 6.26 million sq ft from January to June 2015, compared to the same point in 2014 when 5.6 million sq ft was transacted and is the highest Central London first half total since 1998, when 6.7 million sq ft was let. According to C&W, the figures presented in the report suggest that there was a significant upturn in activity in East London, with 1.2 million sq ft let, only marginally behind the City market (1.24 million sq ft) and significantly ahead of West End volumes (915,000 sq ft). East London offices take-up was at its highest level since Q4 2010 as a result of three transactions over 100,000 sq ft.

July 6, 2015

First office pre-let announced for new Victoria mixed-use scheme

by Sara Bean • Architecture, News, Property

Land Securities has announced the first office pre-let at its Nova scheme based at London’s Victoria. Private equity investor Advent International has agreed to take more than 25,000 sq ft on the 8th floor of Nova South on a 15 year lease. Set on a 5.5 acre site, the first phase of the mixed use Nova scheme will deliver 480,000 sq ft of grade A office space through two distinct buildings – Nova North and Nova South. The Nova scheme is the result of a collaboration between four architectural firms – Benson + Forsyth, Flanagan Lawrence, Lynch Architects and, overseeing the project, PLP Architecture. On completion the site will comprise five buildings delivering 603,000 sq ft of Grade A offices, 193,000 sq ft of apartments and 85,000 sq ft of restaurant, bar and retail space within a new, 82,700 square feet, pedestrianized, landscaped public space, opposite Victoria’s mainline railway station.