Search Results for: real estate

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

by • Comment, Facilities management

Innovate

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…)

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

by • Comment, News, Property

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.

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London conference debates international office measurement standard

by • Facilities management, News, Property

Measuring officesThe 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…)

European cities vie to wear Tech Hub crown

by • News, Property, Technology

© Walt Disney Productions

© Walt Disney Productions

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.

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UK commercial property investment in 2013 hits a six year high

by • News, Property

BroadgateLast 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.

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Consultation begins on international commercial property standards

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

OLYMPUS DIGITAL CAMERAToday 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.

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CBI to embrace open plan working at new London HQ

by • Architecture, Facilities management, News, Workplace design

CBI's new HQ at Cannon Place

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…)

Team announced to review restoration needs of UNESCO World heritage site

by • Facilities management, News, Property, Public Sector

Palace of WestminsterThe 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…)

Insight newsletter is now available to view online

by • News, Newsletter

2.Insight_twitter_logo smIn the Insight newsletter, available to view online; cost is still viewed by businesses as the most important factor in assessing an office’s performance; a suspiciously high number of occupiers claim that their programmes of workplace change are successful; PwC’s nine-storey headquarters in London surpasses all BREEAM scores to date, and we review The Emergent Workplace – a new book which aims to help people make better decisions about their offices. Nigel Sikora discusses the challenges of ensuring the right level of acoustic and visual privacy within the workplace; Charles Marks says London may grab all the headlines but the creative and tech industries are thriving around the country and Richenda Oldham explains ways businesses can improve their knowledge of the range of costs involved in owning or leasing commercial real estate.

New survey reveals extent and nature of workplace change programmes

by • Comment, Facilities management, Property

Apple 11

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…)

Remarkable resurgence of confidence in the UK commercial property market

by • News, Property

Edinburgh is one region enjoying a resurgence in confidence

Edinburgh is one region enjoying a resurgence in confidence

The UK commercial property market is continuing its strong recovery, driven in large part by a resurgence in regional markets and financed by more adventurous borrowing by investors, a juxtaposition of three new reports reveals. According to Lloyds Bank’s twice yearly Commercial Property Confidence Monitor, around three quarters of the small and medium sized commercial property agents surveyed for the report expect a  surge in activity over the next six months, led by especially strong confidence levels in Scotland, South West England, North West England and the Midlands. The results are mirrored in the latest Savills’ commercial development activity survey which found that  the UK’s commercial sector grew at its fastest rate on record during November. Meanwhile, another report from Laxfield Capital claims that investors are willing to take on more debt for new deals to take advantage of the new confidence in the market.

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Don’t be caught by surprise by the hidden costs of commercial property

by • Comment, Facilities management, Knowledge, Property

 

let-signAccording to Colliers International’s recent Global Investor Sentiment Report, 2014 will see an increase in commercial property investor confidence, with 74 per cent of UK based investors saying they were more likely to risk investing across all property sectors, although offices remain the most popular category to invest in. Yet despite this vote of confidence, it seems strange to report that the real costs involved in property acquisition and maintenance, are frequently overlooked by the purchasers. It appears that businesses often have a patchy knowledge of the range of costs involved in owning or leasing commercial real estate, which is surprising when you consider that a company’s biggest single investment next to its workforce is commercial property.

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