Search Results for: real estate

July 1, 2016

Increase in workplace technology spend will help make offices ‘more human’ ⁰

by Mark Eltringham • Flexible working, News, Technology, Workplace design

Spending on workplace technology has doubled in the past five years as artificial intelligence is used to redefine how we connect in the workplace. That is the central claim of a new report from design firm Unispace based on interviews with CEOs and Heads of Real Estate at some 100 blue chip firms worldwide including KPMG, Cisco, Adidas, GE, Accenture, Boston Consulting Group, Regus, Deloitte, UBS, Chevron, CitiGroup, and Ashurst, Respondents were asked to assess how they expect to use office space in 2020. According to the report, respondents indicated that they will continue increasing technology spend, irrevocably changing the traditional office space as we know it. Over the last five years, the average company spent 10 percent of its workplace budgets on technology with 30 percent going on services, partitioning and furniture. The trend has now reversed with technology spend outstripping other spend as companies strive to improve efficiency, collaboration, creativity, engagement and recruitment.

June 29, 2016

Brexit; a round-up of latest thoughts from the property and workplace sectors ⁰

by Mark Eltringham • Architecture, Cities, News, Property

Whatever your opinions on Brexit, there’s no doubt that it has created a range of frequently turbulent knock on effects in the workplace, commercial property, design and architecture sectors. We’ve shared some of the latest views on the next page to go with the initial reactions delivered by a still shell-shocked world that we published last Friday. One thing seems pretty clear is that for most firms, including those in the commercial property sector, there is no rush to judgement and most are prepared to continue business as usual while so much remains undecided. For the same reasons, the FT is reporting that some developers are putting projects on ice until they have more certainty and a report from researchers Green Street suggests that the eventual decision to leave the EU will result in a substantial fall in real estate values. Meanwhile, CIBSE is the latest organisation to calm fears about the impact of the UK leaving the EU.

June 24, 2016

Property and workplace experts have their say on the Brexit outcome ⁰

by Mark Eltringham • Architecture, Comment, Facilities management, Property, Workplace, Workplace design

Well, the results are in and the UK’s electorate has voted by a narrow margin for the country to leave the EU. There are likely to be other developments but whatever you make of the UK’s decision to vote to leave the EU – and I think it’s fair to say most independent people think it’s inexplicable – there’s no doubt that it will have a profound impact on the UK’s economy, relationship with the world, culture, working conditions and markets. What it will mean in practice won’t be apparent for months or years, of course, but that hasn’t stopped experts who work in the property, workplace, design, legal, HR and architecture sectors having their say on its potential implications. We’ll look at these specific issues in more detail going forward but for now, here’s a round-up of those we have so far, which we’ll keep updated throughout the day as the dust settles on what will prove to be a momentous decision for the UK, Europe and rest of the world.

June 15, 2016

New workplace technology will automatically adapt offices to needs of staff ⁰

by Mark Eltringham • Case studies, Facilities management, News, Technology, Workplace design

A new generation of workplace technology that allows the working environment to adapt to the needs of individuals will attract people to work in offices and contribute to their productivity, wellbeing and happiness. That is the key finding of a new report from US office furniture giant Haworth. According to the white paper Enabling the Organic Workspace: Emerging Technologies that Focus on People, Not Just Space a new generation of sensors will measure how offices are used and allow them to adapt on a day to day basis by changing temperature and lighting levels and responding to employees’ needs and influencing their behaviour in other ways. The white paper suggests this will be a development of existing technologies in the way it adapts the immediate working environment to the specific needs of an individual or group. This might even entail using biometrics to assess their psychological and emotional needs, according to the report.

June 15, 2016

Edinburgh most attractive city for commercial property investors outside London ⁰

by Mark Eltringham • Cities, News, Property

Edinburgh is the most attractive British location for commercial property investment outside of London, according to new research by law firm and real estate consultancy Morton Fraser. Research amongst investors by the law firm’s commercial real estate division ranks a list of ten British cities outside of London according to their attractiveness as investment options. Edinburgh, Bristol and Manchester are the most appealing regional locations for investors, based on an indexed score of how many more investors found them attractive propositions compared to those who did not. However, the remaining seven cities did not appeal to the majority of investors, with more rating them an unattractive investment proposition rather than an appealing one. Aberdeen is rated the least attractive location for investors, coming after its energy-dependent economy was hit by falling oil prices, leading to thousands of job losses and the contraction of the oil and gas industry.

June 14, 2016

UK leads the world in serviced offices and demand is set to rise ⁰

by Sara Bean • Facilities management, Flexible working, News, Property

The UK is the leading global serviced office sector, with the largest and most mature market, accounting for over a third (36 percent) of the worldwide serviced office footprint, according to a new report commissioned by serviced office group Office Space in Town. The UK serviced office market has grown by 31 percent since 2008, and it is projected to increase in value significantly by 2025, to £62 billion on conservative projections and £126bn on more optimistic forecasts. There are three key drivers behind its rise: increasing numbers of growth businesses, expansion of key sectors that use serviced offices and the trend towards more flexible working. There are sound economic and business behavioural reasons to believe this growth in demand for serviced offices will continue over the next decade. This, in part, will come from growth in small firms and business start-ups, which comprise a large share of current serviced office users.

May 18, 2016

What the imminent arrival of driverless vehicles will mean for the way we work ⁰

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

Game changing technology doesn’t come any more disruptive than driverless vehicles. The problem is that we may find the whole idea easy to dismiss based on our past experiences of this sort of thing. Autonomous vehicles carry the whiff of Tomorrow’s World about them, yet they are about to go mainstream far sooner than we might think and their advent will have a major impact on the way we work and live. Both Ford and BMW have announced they intend to have fully autonomous vehicles on the roads within five years. That doesn’t mean the test models that are already on the roads but commercially available vehicles; Volvo will have 100 customers in Sweden and the UK using the vehicles next year. Tesla claims its cars will be driverless in two years. And it’s not just car makers who are intent on grabbing a share of this new market but computer makers like Google and Apple as well as sharing economy pioneers like Uber.

May 12, 2016

Office construction at highest level in London for eight years ⁰

by Sara Bean • Cities, Facilities management, News, Property

Office construction in the Capital is at its highest level for eight years, according to Deloitte’s latest London Office Crane report, which measures the volume of office development taking place across central London. Recognising that the low supply of available office space across central London offers a limited choice for tenants, developers have responded by starting a record number of new schemes since the last survey. The latest results show that the volume of office construction has increased by 28 percent over the past six months to 14.2 million sq ft the highest level since the beginning of 2008. In just 18 months activity nearly doubled from 7.7 million sq ft in 2014. The financial sector has leased the largest share of office space under construction in the latest results, accounting for 2.3 million sq ft, or 39% of the let space while currently accounting for 38 percent of the space let, the TMT sector is a leading occupier group.

May 11, 2016

Central London office activity slows as EU uncertainty hits market ⁰

by Sara Bean • Cities, Facilities management, News, Property

Given the level of uncertainty around June’s Referendum on the UK’s membership of the EU, the £11.9bn invested into commercial real estate during the first three months of 2016 appeared robust. However, 50 percent of Q1’s volume was in January, with the data from Lambert Smith Hampton showing that activity tapered off significantly in the following two months. Anecdotal evidence clearly linked the slowdown directly to the approaching vote. As a result there was a significant fall in activity, which translated into a very quiet quarter for Central London Offices, where volume halved quarter-on-quarter to £2.2bn, the lowest quarterly total since the last part of 2011. Given that financial services is widely regarded as the most exposed sector to a possible ‘Brexit’, this sector appears to have suffered most from investor caution.In marked contrast, investment in the rest of UK Offices has remained buoyant at £1.4bn, the highest quarterly total since the middle of 2007.

May 10, 2016

Alternate workplaces strategies explored as demand for US offices grows ⁰

by Sara Bean • Facilities management, Flexible working, News, Property

The US national office market recovery slowed slightly in the first quarter of 2016 amid some volatility within the financial markets. However, as the financial markets stabilised later in the quarter, office based job growth accelerated, likely signalling stronger tenant demand in the months ahead, according to a new report from CBRE. Tech and healthcare companies continue to drive growth, resulting in a scarcity of creative space in many cities. Meanwhile, energy-dominated markets slowed further due to sustained low oil prices. Many companies continued to seek space in vibrant downtown and suburban areas near public transport links in order to attract talent. A tightening supply within the Class A market has resulted in tenants exploring well-located Class B properties and creative space, with tenants across geographies and industries exploring alternate workplaces strategies to maximise efficiencies and collaboration.

May 5, 2016

The problems that come with London’s success need better solutions ⁰

by Mark Eltringham • Architecture, Cities, Comment

We might all welcome London’s success as a thriving centre of commerce and culture, but this comes at a price and we need to look for a better balance than we currently see between London and the rest of the UK. Of course London is often the main victim of its own success. Its thriving tech and creative firms continue to spill out of the incubator districts created for them to find cheaper and more appropriate spaces in which to grow. In doing so they are pushing up rents in such unlikely nearby places as Croydon. In the traditional business districts in the City and Docklands, the capital’s tech giants are now able to compete for the first time for some of the most expensive real estate on the planet. To cope with demand, the Mayor is rubberstamping tall buildings like never before, many of them bloody awful, unloved by Londoners and heritage organisations alike, transforming the skyline and creating windswept, arid tundra at their feet.

May 4, 2016

London firmly established as global leader in tech and media start ups ⁰

by Sara Bean • Cities, Facilities management, News, Property, Technology

One new tech company has started every hour in London since 2012, which has firmly established the Capital as the global leader in tech and media start ups. According to property firm JLL, over the last five years, a massive 45,000 new tech businesses has been set up in London, with 98 percent of tech companies being start-ups and small businesses. There is migration from the West End to the City and the East, including ‘Silicon Roundabout’ in Old Street, but also new areas which are attracting technology and media companies. The growth of small business has also seen the average office footprint of T&M business fall over the last three years. JLL says for every one T&M company that moved out of Aldgate, Clerkenwell and Shoreditch over the last three years, two new tech and media companies moved in indicating the rapid consolidation of T&M business in the East.