Search Results for: real estate

June 10, 2013

British Land on track to meet targets on green building efficiency

by Sara Bean • Company news, Environment, Facilities management, News, Property

British Land says it is on track to meet many of its 2015 targets on managing buildings efficiently, developing sustainable buildings and reducing carbon emissions. In its Corporate Responsibility Report for 2013, the real estate investment trust, which owns and manages a portfolio of commercial property worth £16.4 billion reiterates its commitment to sustainable property management: “There are increasing indications to support our view that sustainability, and particularly energy efficiency, grow income and grow value in the longer term. We are convinced this will be proven over time. Green buildings are also less at risk of obsolescence, thus further protecting and growing capital value over the medium to long term.” More →

May 21, 2013

Worldwide competition launched by RIBA to design a new Scotland Yard

by Sara Bean • Architecture, News, Property, Public Sector, Workplace design

Courtesy of Simon Heath

A worldwide competition to design a new Metropolitan Police HQ has been launched by the Royal Institute of British Architects (RIBA). The force is moving from its landmark New Scotland Yard site in Westminster, central London as part of cost cutting measures. The project on behalf of the Mayor’s Office for Policing and Crime (MOPAC) and Metropolitan Police Service (MPS) will involve the redevelopment of the existing and currently unoccupied Curtis Green MPS building located on the Victoria Embankment, London, SW1. Roger Harding MPS – Director of Real Estate Development said: “The opportunity to create a modern efficient working environment for the Met’s future headquarters, with world-class architecture that provides value for money and is alive to the history of the building provides a wonderful challenge.” More →

May 1, 2013

Global coalition to create universal standard of property measurement

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

The world’s leading property institutions meet today to create a universal method of measuring property assets. At present, the way property assets – such as an office development is measured, varies widely from country to country. With so many different methods of measurement available, it makes it difficult for those looking to invest in these developments to compare like with like. This confusion can affect property values, lead to errors in financial reporting and, consequentially, undermine market confidence. Headed by RICS, this initial meeting of the International Property Measurement Standards Coalition (IPMSC) is the first step to delivering this consistency.

May 1, 2013

Resistance to workplace change marks the passing of the old order

by Martin Brooker • Comment, Facilities management, Technology

When Vodafone announced in March that the UK’s businesses could save up to £34 billion with the more widespread application of flexible working models, the research to support the claim had two very familiar components. The first was a crystal clear business case, the second an admission that the message was still not quite getting through to those at the top. In fact, Vodafone claimed, around two-thirds of business leaders continue to insist their business can’t afford to reduce the number of workstations they use despite all evidence to the contrary. A third haven’t even considered the idea of reducing the number of workstations they use as a way of cutting costs.

April 30, 2013

Dubai developers switch unwanted commercial property projects to other uses

by Mark Eltringham • Facilities management, News, Property

The UK isn’t the only country looking to convert its unwanted office space into other uses. According to a new report from CBRE, the oversupply of new commercial property in Dubai is leading developers to switch the use of projects in the Emirate before they have even finished building them. With occupancy levels already at less than 50 percent in some areas and swathes of new developments coming online thanks to Dubai’s ongoing commitment to a policy of ‘build it and they will come’, developers are taking the decision to convert construction projects to homes or hotels.

April 19, 2013

High wire act: balancing attitudes and expectations in the workplace

by Simon Heath • Comment, Facilities management, Property, Workplace, Workplace design

This week, with some fanfare and a modest splash on social media, CBRE, the Global real estate services provider launched The Workshop Idea. One of its stated aims is the revitalisation of our high streets and, with the introduction of local venues in a number of differing guises, an increase in the degree of choice and flexibility of places in which to work when not travelling into the office. A whitepaper is due out shortly and we will cover this specific initiative once that has been given the proper consideration and thoughtful analysis it deserves. However, it raises some initial thoughts on expectations, attitudes and behaviours that need to be overcome in the way we view our high streets and places of work and the degree to which those who provide services respond.

April 8, 2013

One St Paul’s offices attracts “new type” of City tenant

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

A marketing campaign aimed at attracting non-traditional City occupiers appears to have paid off, with the entire 60,000 sqft office element of One St Paul’s in the City of London being let to a single tenant. Genesis Oil and Gas Consultants Ltd has agreed a 15-year lease for all six storeys of bespoke office space, and will take possession upon handover of the building works during the summer of 2013, with the aim of moving its headquarters in the autumn. The deal marks the culmination of AXA Real Estate’s reworking of the property as a major mixed-use redevelopment scheme.

April 5, 2013

What Tesco’s move into a Clerkenwell office tells us about how it sees itself

by Mark Eltringham • Comment, Property, Technology

If Tesco ever wants to update its three word strapline from Every Little Helps, it could plump for something more accurate such as We Own You. Unless Facebook or Google register it first, of course. The news this week that the extensively diversified retailer is to set up an office for its digital operations in the heart of one of the UK’s Technology Media and Telecoms (TMT) hothouse in Clerkenwell tells us a great deal about how it sees its operations in this area. The move will not only help Tesco to recruit staff in and around the Tech City area of East London, but sets a marker for how it views its place in the scheme of things.

April 4, 2013

UK commercial property investors shift focus to the regions

by Mark Eltringham • Knowledge, News, Property

Investors in the commercial office market are increasingly being drawn towards the UK regions, according to a new report by Deloitte Real Estate. The UK Key Cities publication explores the trend that regional offices are emerging as a focus for savvy investors seeking higher returns. At the same time, individual cities are recognising the need to stand apart from competing locations and bridge the gap between themselves and London. These cities are being bolstered by factors such as improved connectivity through large planned infrastructure projects, devolution of power, and investment into the retail and leisure markets.

March 29, 2013

We shape the world’s cities, then they shape us

by Mark Eltringham • Architecture, Comment, Knowledge, Property

The story of the world’s cities is often told not in words but in numbers. This is especially the case with the megacities – those with a population in excess of 10 million – which obtain enough critical mass not only to produce eye boggling statistics but also to distort the fabric of whole regions and change the way people live and behave. This is true for the established megacities of London, New York and Tokyo as well as the emerging global metropolises in Sao Paolo, Beijing, Mumbai, Shanghai, Cairo and Istanbul. It is also increasingly true for cities many people have never heard of.

March 14, 2013

Communal workspace model making inroads in US offices

by Sara Bean • Facilities management, Knowledge, News, Technology, Workplace design

Costar

There is a growing trend in the United States to downsize office space, particularly amongst larger public firms, as they increasingly adopt policies for sharing non-dedicated offices and implement technology to support their employees’ ability to work anywhere and anytime. In a webinar presented to subscribers of commercial real estate intelligence group CoStar, Norm G. Miller, PhD, a professor at the University of San Diego, Burnham-Moores Center for Real Estate examined what would happen if office tenants used 20 per cent less of the US’ current office space, which has a total valuation of $1.25 trillion.

March 11, 2013

Hong Kong and London world’s most expensive cities for start ups

by Mark Eltringham • Knowledge, News, Property

A new report from property consultants Savills based on the total cost of setting up in business in the world’s major cities has today revealed that Hong Kong is the most expensive of the ten cities in which to locate, with London in second place and New York a close third. The total real estate cost of setting up business in all three cities is now almost three times that in the best priced world capitals, Shanghai and Mumbai. The report will be published in full on the 20^th March as The World Cities Review and includes measures of headline rent, tax and other charges.