May 21, 2019

London office building at post Brexit high

New office building in central London is at a three-year high, with 13.2 million square feet of space under construction, up 12 percent on the figure six months ago, according to the Deloitte Real Estate’s London Office Crane Survey. Some 55 percent of the office space under construction was already let and for larger schemes of over 100,000 square feet, more than three quarters was already committed to, Deloitte said. The survey covers seven major central London office markets – The City, West End, Docklands, King’s Cross, Midtown, Paddington, Southbank – as well as three emerging submarkets – Vauxhall-Nine Elms-Battersea, White City and Stratford. More →

May 21, 2019

CRE investment highest in cities with strong tech culture

by Marie Hillen • Cities, News, Property, Technology

Cities with tech innovation-oriented cultures have a strong competitive advantage amongst those investing in commercial real estate, claims a new report from JLL (registration). Of 109 cities analysed, the nine leading global markets – Boston, London, New York, Paris, San Francisco, Seattle, San Jose, Sydney and Tokyo, accounted for around 37 percent of total annual real estate investment volumes over the past decade. Like real estate investors, corporate occupiers also search for locations that have advanced innovation ecosystems, the report suggests. These cities sustain highly skilled workforces and are best placed to succeed in the future.

May 16, 2019

Working from home and the future of work. How quaint ⁰

by Mark Eltringham • Comment, Flexible working, Property, Technology

In 1962, a professor of communication studies called Everett Rogers came up with the principle we call diffusion of innovation. It’s a familiar enough notion, widely taught and works by plotting the adoption of new ideas and products over time as a bell curve, before categorising groups of people along its length as innovators, early adopters, early majority, late majority, and laggards. It’s a principle bound up with human capital theory and so its influence has endured for over 50 years, albeit in a form compressed by our accelerated proliferation of ideas. It may be useful, but it lacks a third dimension in the modern era. That is, a way of describing the numbers of people who are in one category but think they are in another.

May 9, 2019

Property investors cool on issue of climate change

by Mark Eltringham • Environment, News, Property

According to a RICS global survey of Commercial and Construction market professionals, in the UK, 47 percent of respondents reported that climate change risks are not important or irrelevant for investors. In addition, while 25 percent reported that there is more interest in energy efficient buildings than two years ago, 37 percent noted that investment into energy efficient buildings was limited to niche investors. The study concludes that it still appears that other considerations take precedence in the UK for investors, and the UK is lagging behind China and Hong Kong in this area, where 41 percent reported that energy efficient buildings are increasingly seen as an attractive form of investment. The issue of responsible investment, will be being discussed on the 13 and 14 May at the RICS World Built Environment Forum, Summit in New York. More →

May 2, 2019

The best workplace events to look forward to in May

by Mark Eltringham • Events, News

The events season is in full swing every May and this year is no exception. So much so that we’ll never do justice to how much is going on in one story. As the workplace sector becomes increasingly well defined in its own right and the world sets out to address a number of pertinent challenges for the way we live and work, this might prove to be something of a seminal year and so it’s important to be out and about sharing ideas. Fortunately, you can find a full list of relevant happenings around the world on our Events page, the most comprehensive calendar of workplace related events in the world, in partnership with Herman Miller. Here are a few of the best to whet your appetite: More →

April 30, 2019

Workplace design in tech sector out of step with demands of modern work

by Neil Franklin • News, Technology, Workplace design

HOK has released the second volume of HOK Forward, its annual report exploring a crucial issue in workplace design. HOK Forward: Tech Workplace Takes Center Stage investigates the distinct threats and challenges facing the tech sector and explores how these same challenges are affecting all companies, regardless of the industry in which they operate. More →

April 25, 2019

UK workplace happiness score has dropped below global average

by Marie Hillen • News, Wellbeing, Workplace

The UK now ranks tenth globally when it comes to happiness in the workplace. Austria (690), Spain (682), United States (719), France (672) and Germany (675) are all above the UK in rating workplace happiness. To date, over 10,000 people globally have taken the free Workplace Happiness Survey by Engaging Works which aims to provide practical and personalised advice to help improve wellbeing at work and to increase productivity and overall happiness within the workplace. The Workplace Happiness Survey asks 26 questions and then delivers a score out of 1000.

April 23, 2019

The flexible solution to workplace loneliness

by Guzman de Yarza Blache • Comment, Flexible working, Wellbeing, Workplace design

For years, the word ‘office’ would doubtless conjure images of the traditional individual cubicle. However, times have changed, and where the cubicle once ruled the roost, a flexible working revolution is already disrupting the office market and reshaping the world of work.

April 15, 2019

Central London commercial property market investment up over a quarter

by Neil Franklin • News, Property

Commercial property investment in Central London (the City and West End) rose to £3.2 billion in the first quarter of 2019, a 28 percent increase on the £2.5 billion invested in Q1 2018, according to new data from Savills. The firm also claims that investment volumes in Central London in Q1 2019 were also higher than those in Q1 2015 before the UK’s referendum to leave the EU, when they reached £3.14 billion.

April 8, 2019

Commercial property investors underestimate risks of climate change

by Neil Franklin • Environment, News

Investors in commercial property are underestimating the risks associated with climate change, including more frequent and intense extreme weather events, and need to rethink their assessment of asset vulnerabilities, according to a new report from the BlackRock Investment Institute.

April 5, 2019

The ladder of life, the death of work, the cane toad of property and some other stuff

by Mark Eltringham • Features

We start with a question. Why hasn’t the gig economy killed traditional work?, asks Greg Rosalsky and goes on to explain what many people have now realised. The answer, as Greg points out, is that the gig economy doesn’t replace traditional work, never has, and the rise of casual work of this kind has primarily been a way for people to deal with a volatile labour market and shrinking real incomes. Offer them the choice of a decent monthly income, benefits and a contract and most of them will take you up on it.

April 3, 2019

Coworking and a new golden era for the workplace and the people who inhabit it

by Gary Chandler • Comment, Coworking, Workplace design

The idea of coworking is starting to resonate with a growing number of businesses and for a growing number of reasons. People new to the concept, or those who are aware primarily of its roots, may discover or retain a notion that it is a way for start-ups and freelancers to share space as a way of keeping down costs or networking with similar organisations. There is still a great deal of truth in this, given that the initial growth of coworking was based almost exclusively on the need for small tech and creative organisations to occupy space near to their larger clients, in precisely those urban enclaves that demand eye-watering rents and conventional leases.