Search Results for: real estate

March 28, 2014

CBI moves to new flagship London office at Cannon Place

by Sara Bean • Company news, Property, Workplace design

The CBI is moving out of the Centre Point building this weekend to take up residence at its new flagship offices in London’s Cannon Place on Monday (31st March). The UK’s leading business group is leaving the Centre Point building in London’s West End after 34 years to relocate to new offices in Cannon Place, above Cannon Street station, where its new headquarters will be based. The 25,000 sq ft space on the fourth floor of the eight-floored Cannon Place will be open plan and home to around 200 staff. It will boast a member lounge with work stations and meeting rooms, as well as regular exhibitions showcasing the best of British business from around the globe. This first exhibitor will be Bristol-based film and television company Aardman Animations, the makers of the award-winning Wallace and Gromit series. More →

March 12, 2014

£56m office development planned for Salford’s regeneration area

by Sara Bean • Company news, News, Property, Public Sector

Work is to start on a £56m Grade A office and car park development in Salford’s Greengate Embankment regeneration area. The joint venture partners behind the development are Carillion, Ask Real Estate and Tristan Capital Partners, with Carillion acting as the main contractor. Work on the site, which was part of the former Manchester Exchange railway station, will start in June, with delivery of the 172,640sq ft office and car park planned for spring 2016. Salford City Council has signed an eight-year pre-lease on the whole of the first office building and Q-Park has agreed a 35 year pre-lease for the 442 space car park. The site, which was acquired from Network Rail, also has planning permission for a second phase which comprises another Grade A office building providing 150,000 sq ft of space. More →

March 5, 2014

Innovate or die? Why facilities management must embrace change to survive

by Demitri Maldonado • Comment, Facilities management

According to recent reports on workplace, facilities management and corporate real estate, the support services sector needs to change. Some even say it needs to innovate or die. That might be a little harsh, but the current model that the majority of FM service providers work to and that their clients take for granted is tired and has not kept pace with the evolving business environment. Zurich Insurance’s report of late 2012 into CRE & FM said the sector was at a cross roads; in 2013 Jones Lang LaSalle said something similar and picked out five global trends to which CRE and FM had to respond. IFMA & CBRE have taken a similar line, but are more specific – namely FM had to embrace its softer side, focus on people skills and develop them to ensure success. More →

March 5, 2014

New data suggests that London no longer belongs to the UK, but the World

by Mark Eltringham • Comment, News, Property

Image: London Snap

One of the subjects touched on in the first episode of Evan Davis’s BBC documentary series about the economic distinctions between London and the rest of the UK Mind the Gap was the impact of investment by the global super-rich into London property. At one point he asked the Malaysian investor behind the £8 billion Battersea Power Station redevelopment whether he’d considered investing in other cities in the UK. The response was a straight no, but the accompanying glance said rather more. London is no longer a British city but one that belongs to the world, it said, so any comparison with Manchester, Birmingham, Bristol, Leeds, Cardiff and Edinburgh is meaningless. You might disagree with this point of view, but a raft of new data appears to make it very evident indeed that London is now shaped by global plutocrats in a way that cannot be mirrored in the rest of the UK.

February 24, 2014

London conference debates international office measurement standard

by Sara Bean • Facilities management, News, Property

The implementation of an international property measurement standard for offices (IPMS for Offices) moved forward last week when a group of leading professional bodies from across the world met at RICS’ HQ in London. The two-day meeting (20-21 Feb 2014) brought together representatives from many of the 31 member organisations of the International Property Measurement Standard Coalition (IPMSC), who discussed plans for the launch and implementation of IPMS across international real estate markets. A rise in cross-border property investment and expansion by global corporate occupiers has exposed the difficulties that can arise when dealing with differing national and local measurement practices. The first of its kind, IPMS seeks to standardise the way office space is measured around the world. More →

February 20, 2014

European cities vie to wear Tech Hub crown

by Mark Eltringham • News, Property, Technology

You may not realise it, but apparently there is a close fought race being run between European cities for the title of European Tech Hub. According to a new report from Colliers International the front runners are London, Berlin, Dublin, Paris, Amsterdam, Munich and, in a Eurovision-like extension of Europe’s borders, Tel Aviv. London is currently in pole position but Berlin and Dublin are hot on its heels as they vie for the title of Europe’s ‘Silicon Valley’, according to latest research from Colliers International, global real estate advisors. According to the report, London needs to stay on its toes if it is to fend off the upstarts from Germany and Ireland. Berlin, in particular, is expected to add some 100,000 jobs to its tech sector within the next seven years.

January 23, 2014

UK commercial property investment in 2013 hits a six year high

by Mark Eltringham • News, Property

Last year marked a six year high in commercial property investment across the UK according to a new report from property information providers CoStar, driven by increases in regional markets and a sharp upturn of interest in Central London from overseas investors. A total of £52.7 billion of transactions was completed across the UK in 2013, albeit that two-thirds of investments were made in London and the South East of England. It was also a year for record breaking deals, notably the Broadgate office development in the City (above) and More London on the South Bank, each of which were valued at £1.7 billion. London was particularly attractive for Asian investors who CoStar claim see it as a safe haven and invested £9.2bn, up 80.6 percent on 2012.

January 13, 2014

Consultation begins on international commercial property standards

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

Today marks the beginning of the three month public consultation by the recently formed International Property Measurement Standards Coalition as the organisation seeks to develop standardised way of measuring commercial, domestic and retail property. Formed in May of last year, the IPMSC includes many of the world’s leading property institutions including the Royal Institute of Chartered Surveyors (RICS) from the UK. The primary aim of the new body is to remove disparities between local property measurement standards by developing globally accepted standards to allow occupiers and investors to make better decisions about property. Research from Jones Lang LaSalle claims that currently a property’s floor area can vary by up to 24 percent depending on how it is measured.

January 8, 2014

CBI to embrace open plan working at new London HQ

by Sara Bean • Architecture, Facilities management, News, Workplace design

The CBI is to move its headquarters to new offices in Cannon Street, London, after more than 30 years at its present Centre Point home, which is to be converted into apartments. Staff at the UK’s leading business organisation will make the switch from the multi floor office layouts of the 1960s built tower to an open plan 25,000 sq ft space when they move into the fourth floor of the eight-floored Cannon Place development in the spring. The CBI director-general, John Cridland, said he was looking forward to the move to the new offices, on which the organisation has signed a 15-year lease and invited its members to make use of a dedicated member’s lounge at the new London HQ to meet their clients and CBI staff. More →

December 19, 2013

Team announced to review restoration needs of UNESCO World heritage site

by Sara Bean • Facilities management, News, Property, Public Sector

The House of Commons and House of Lords have announced the team which is to carry out an appraisal of the work that needs to be done to restore and repair one of Britain’s most iconic sites. The study will explore a number of ways in which Parliament can remain operational while implementing long overdue essential works to protect the Palace of Westminster, an important Grade I listed building and UNESCO World Heritage site. Deloitte Real Estate, AECOM and HOK have been chosen to undertake an Independent Options Appraisal as part of the Palace of Westminster Restoration and Renewal Programme. The appraisal was commissioned following the publication of a study in 2012 which showed that, unless significant restoration work is undertaken, major, irreversible damage may be done to the Palace. More →

December 17, 2013

New survey reveals extent and nature of workplace change programmes

by Mark Eltringham • Comment, Facilities management, Property

The newly published Workplace Transformation Survey from property consultancy Cushman and Wakefield begins with the now routine statement that “there is no doubt the corporate workplace is rapidly transforming”. So tell us something we don’t know – and in the subsequent report they pretty much do. That said, the methodology of the survey does skew the results by focussing on a particular part of the workplace elephant, because the report was compiled in conjunction with CoreNet Global, based on a questionnaire of over 500 occupiers and other participants from around the world taking part in events in Los Angeles, Amsterdam and Shanghai. So inevitably the results are weighted to at least some degree in favour of those with an interest in commercial property and the regions from which it draws its data. More →