Search Results for: real estate

Coworking workstation price jumps nine percent

Coworking workstation price jumps nine percent

by • Flexible working, News, Property

coworking

Between January 2021 and January 2022, the average price for a monthly hot desk rental at a coworking space increased by 9 percent globally, according to the latest report from Coworking Insights, a news source for analysis of the flexible workspace industry. Coworking Insights’ 2022 Hot Desk Price Index Report [paywall] compares pricing from 19,500 coworking spaces in 172 countries across six continents to provide evidence of the demand for shared workspace. More →

Firms rethink office portfolios to accommodate hybrid working

Firms rethink office portfolios to accommodate hybrid working

by • Flexible working, News, Property

hybrid workingA significant majority of businesses, (68 percent) expect to be promoting a more regular return to the office by the middle of this year, according to the latest EMEA Occupier Sentiment Survey from real estate advisor CBRE. Nearly a quarter of those surveyed (23 percent) said the process is already underway, with 45 percent focussing on the remainder of H1 as the return period. However, nearly three quarters are doing so as part of a shift to hybrid working. More →

ESG ambitions should top organisational agendas

ESG ambitions should top organisational agendas

by • Comment, Environment, Wellbeing

ESGWhen the idea of ESG (environmental, social and governance credentials) first surfaced nearly two decades ago in a 2005 United Nations report, it was just an acronym businesses were trying to understand and get to grips with. But in the last few years, ESG strategies have gathered steam – it has become integral to C-Suite strategy and business purpose, and is a deal-breaker not just for investors but also for those considering new roles. In fact, a recent report revealed that job-seekers are turning down job offers by companies showcasing weak ESG credentials, a sure sign of the importance of substantive ESG policies for potential talent. Most of the larger conglomerates (if not all) have set targets to reach net-zero by a set date – ranging from as early as 2025 to anywhere within the next two decades. But is this going far enough for employees, stakeholders, future talent, and more broadly, for society? More →

Facilities managers: you never noticed us because we did such a great job

Facilities managers: you never noticed us because we did such a great job

by • Comment, Facilities management, Workplace design

facilities managersGetting all hot under the collar about brushed chrome door furniture is an understandable but classic displacement activity when much of your work is messy, unglamorous and even occasionally dangerous. You work alongside designers and architects and look longingly at their apparent casual trendiness and clean lines, marvelling at the quality of the beech from sustainably managed European forestries (kiln dried to 10-12 per cent moisture content) with which they have specified the side tables in reception. Achingly cool and effortless in a way you feel you’ll never be.

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Retrofit is essential for the UK’s stock of poor performing commercial property

Retrofit is essential for the UK’s stock of poor performing commercial property

by • Environment, News, Property

commercial property retrofitThe UK Green Building Council (UKGBC) has published a guide that calls on businesses to retrofit the country’s poorly performing stock of commercial buildings. From 2025, every commercial building in the UK will require an energy performance certificate (EPC) which rates its energy efficiency from grade A to G. The Government is seeking to strengthen these standards and has proposed that all commercial properties being let have a minimum EPC rating of at least ‘B’ by 2030 and is considering a possible interim requirement of level ‘C’ by 2027. Buildings which fail to meet these new standards would require owners and landlords of commercial buildings to upgrade their stock. More →

Five new companies join Urban Land Institute net zero carbon goal

Five new companies join Urban Land Institute net zero carbon goal

by • Environment, News

net zero carbon urban land instituteThe Urban Land Institute’s (ULI) Greenprint Center for Building Performance announced today that five more of its real estate members have aligned to ULI Greenprint’s net zero carbon operations goal. These real estate leaders join the 25 ULI Greenprint members that have already adopted this goal to reduce the carbon emissions of their collective portfolio under operational control to net zero by the year 2050. More →

Demand for office space ‘bounces back’

Demand for office space ‘bounces back’

by • News, Property

office spaceThe 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 →

We need to seize the chance to make our buildings far more intelligent

We need to seize the chance to make our buildings far more intelligent

by • Comment, Environment, Property, Workplace design

Even before the pandemic, statistics were making the case for workplaces to be made up of more intelligent buildings. This includes the fact that offices generally operate at around 55-60 percent utilisation, and as we return to the office are currently at 45 percent utilisation. From presenteeism to absenteeism and many other factors in between, workplaces have seldom been utilised by entire workforces at the same time. However, the prevailing approach has been for firms to drive an office setup with one-to-one desking – a seat for every employee, even though five in 10 would not be in at any one time. More →

Office costs creep up, but not because of higher rents

Office costs creep up, but not because of higher rents

by • News, Property

office costs riseHigher 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.

MIPIM revival offers up a pale, stale imitation of life (but there’s hope)

MIPIM revival offers up a pale, stale imitation of life (but there’s hope)

by • Comment, Property

MIPIMIf a week is a long time in politics, then two years in real estate is practically a lifetime. Time enough for an opportunity for MIPIM, the property world’s annual gathering in Cannes to reset itself post-pandemic. Unlike back in London where British Land had offered up space for Ukrainian care packages at its Paddington Central Campus and Quintain also pledge to make space at its Wembley Park space (as reported by Estates Gazette), unfortunately such correct reading of the room wasn’t the case on the Croisette. More →

Retrofit offers the greatest opportunity for a commercial property market beset by uncertainty

Retrofit offers the greatest opportunity for a commercial property market beset by uncertainty

by • Environment, News, Property

Retrofit an opportunity for commercial propertyIn the context of a second major economic shock from war in Ukraine and continuing inflationary concerns, the PWC / ULI report Emerging Trends in Real Estate Global Outlook 2022 focuses on the global outlook for the real estate industry increasing pressure for finance to support the decarbonisation of real estate. The industry challenges lenders and their regulators to provide debt for the retrofit of existing buildings and the scale-up of the ‘climate tech’ needed. More →

New ways of working and what we’ve learned about them over the past two years

New ways of working and what we’ve learned about them over the past two years

by • Flexible working, News

new ways of workingA report published by Advanced Workplace Associates (AWA): Change For Good: 10 Lessons From The Pandemic identifies what it says is the transformative effect of the new ways of working and why there is ‘no going back’ for employers or employees. More →

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