Search Results for: real estate

New report identifies the ten key trends set to transform US commercial property

by • News, Property

Navel gazingAccording to a new report from Deloitte, the recent upturn in the US commercial real estate sector is set to continue unabated into next year. Which is great news but according to the property consultancy, the market that emerges from the ashes of the downturn will be very different to the one from which they were formed. Deloitte’s 15th annual Commercial Real Estate Outlook report has identified what it considers the top ten trends that will reshape the emerging market based on a mixture of original research, subjective insights and the firm’s experience with clients. These trends are dominated by structural and financial issues and the only nods towards external socio-economic factors are mentions for the aging workforce within the market (so much for the transformational potential of GenY) and increases in single family households (can’t see the link with commercial property).

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Yahoo and HP “seeing success” by taking a stand against flexible working

by • Facilities management, Flexible working, News, Property

Yahoo! Sunnyvale headquarters. October 28, 2001 (Y! Photo / Brian McGuiness)

Yahoo has had some successes since curtailing its work from home policies, global corporate real estate leaders were told at this week’s CoreNet Global Summit in Las Vegas. Continuing the industry conversation around balancing an organisation’s need to foster work and collaboration in person (aka: presenteeism) against the needs of employees to work off site, the discussion centred on how employees can “be present” in an increasingly virtual world, and where should leaders in corporate real estate place their focus? Julie Ford-Tempesta, Senior Director, Real Estate & Workplace at Yahoo said despite predictions of “epic policy failure” following the announcement that all employees must work in the office; employee engagement is up, product launches have increased significantly, and teams are thriving. (more…)

Winners announced for outstanding leadership in sustainable buildings awards

by • Environment, News, Property

City Green Court

City Green Court building in Prague

British Land, Spanish city Vitoria-Gasteiz and the City Green Court building in Prague, Czech Republic, have clinched the top spots in the inaugural World Green Building Council Leadership Awards – Europe Region. The awards, which were announced to coincide with World Green Building Week 2013 – honour leadership and best practice in green building policy, construction projects and corporate initiatives. British Land won the category for Business Leadership in Sustainability; Vitoria-Gasteiz picked up the award for Leadership in City Policy for Green Building award; and office building City Green Court, topped the Leadership in Building Design and Performance category for its sustainability features. (more…)

Value of offices and property rental income across the UK hit two year high

by • News, Property

Manchester Media CityThe value of commercial real estate in the UK rose for the fourth consecutive month during August, led by increases in the average value of offices, according to a report from Investment Property Databank (IPD). The average value of offices, warehouses, retail and industrial rose by a 0.4 percent across the country. Office buildings rose by 0.6 percent during the month while total return, which combines changes in real estate values and rental income, was 0.9 percent, to reach the highest level since March 2011. The report claims the upturn is down to the wider economic upturn and persistent  low interest rates which incentivise investors to acquire high income generating assets. The report also notes that investors are looking to acquire more property outside of London as the economic recovery spreads across the UK. (more…)

When it comes to transparency, most businesses might fail The Peacock Test

by • Comment, Workplace

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The HR profession took a savaging yesterday in a Daily Telegraph article by Louisa Peacock following what many felt to be a disastrous appearance by the BBC’s head of HR, Lucy Adams in front of the Public Accounts Committee. You can see a brutal excerpt above. A thread of sensationalism runs through the Telegraph piece but some good points are made that have broader lessons for the commercial world. There have been acres of coverage generated by the debacle at the Beeb, but there is a real sense of “there but for the grace of God go I” and schadenfreude about much of the commentary and chatter from the business community.

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Research reveals UK’s shrinking workplace space standards and regional disparities

by • Facilities management, Flexible working, Knowledge, Property, Workplace design

Alice growingThe latest Occupier Density Study from the British Council for Offices reveals that London and the South East of England have some of the most spacious workplaces in the UK, in spite of the fact that London has the most expensive office space on Earth. The BCO research found that the South West has the highest density at 8.6 sq. m. per workstation while London (11.3 sq. m.) and the South East (12.7 sq. m.) have lower densities than all UK regions apart from Wales (11.4 sq. m.). Yet recent research from Cushman and Wakefield has identified London as the world’s most expensive city to rent office space and a report last week from BNP Paribas revealed the large disparities in total occupancy costs between London and the rest of the UK.

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Investor confidence in commercial property highest in five years

by • News, Property

Investor confidence in commercial property highest in five years

The news this week that work is to begin on the former Lumiere site in Leeds is a clear indicator of how investor confidence in commercial property has reached its highest level since Q2 2008, according to Jones Lang LaSalle. Its latest UK Real Estate Investor Confidence Survey, which canvassed the views of nearly 100 principals and lenders in the UK commercial property investment sector, found investor confidence has jumped by 7 per cent in the second quarter of 2013 compared with Q1, a 63 per cent increase on Q2 last year.  The report’s findings also showed even greater competition for assets amongst property investors is anticipated with 61 per cent of respondents expecting more buyers than sellers, up from 42 per cent last quarter. (more…)

Healthier people theme for this year’s World Green Building Week

by • Environment, Knowledge, News

Wellness theme for this year's World Green Building Week from 16-20 September

The UK Green Building Council has published a calendar of events for this year’s World Green Building Week (WGBW) which takes place from 16-20 September 2013. The theme is ‘Greener Buildings, Better Places, Healthier People’, emphasising the value of green buildings to people – whether higher productivity for office workers, improved learning outcomes for students, healthier workplaces for nurses and teachers, or better homes for people. The key messages are that green buildings make better places to live, work and play; that improving indoor and outdoor environmental quality help us to create healthier places to live and work, and that green buildings can improve well-being and quality of life for everyone in the community. (more…)

Worldwide space standards moving closer to UK norm, claims new report

by • Comment, Facilities management, Flexible working, Knowledge, News, Property, Workplace design

ShrinkingWorldwide office space standards are now moving closer to the norm seen in the UK according to a new survey from CoreNet Global. According to the CoreNet survey of real estate managers, the average amount of space per office worker globally has dropped to 150 sq. ft (14 sq.m.) , from 225 sq. ft. (21 sq.m.). This is still well outside the standards from the British Council for Offices Specification Guide which reported a fall to 11.8 sq. m. in 2009 and which will be revised downwards even further with the publication of the new guide which has been promised soon.  Even this figure might be seen as high and makes assumptions about the relevance of such space standards given the way some firms now work.

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UK construction and manufacturing buoyant but mixed picture in global property market

by • Knowledge, News, Products, Property

Construction savingsThere are signs that the UK’s faltering economy is on the road to recovery.  Construction activity in the UK jumped sharply in July to hit its highest level in over three years, according to the latest Markit/CIPS  survey of purchasing managers. This may have been driven primarily by a surge in house building, but even the recently moribund commercial construction sector saw an increase in activity. However a new report from the Royal Institute of Chartered Surveyors has highlighted that while the UK may have reason to smile, the picture of global commercial property markets is very patchy.

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Hospitality giant receives second LEED certificate for sustainable HQ

by • Company news, Environment, Furniture, Lighting, News

 Wyndham Worldwide HQ wins second LEED silver award

Wyndham Worldwide, one of the world’s largest hospitality companies, which counts the Travelodge and Ramada chains amongst its brands has received a second silver certification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program for its New Jersey-based headquarters. One of the green initiatives was the introduction of a sustainable purchasing policy that encourages the purchase of ongoing items such as lamps, electronic goods and furniture, to be environmentally friendly, conserve natural resources, minimize waste and reduce toxicity. (more…)

Green shoots detected for UK regional office rental markets

by • Facilities management, News, Property

Signs of recovery in UK regional office markets

There is evidence of improving fortunes for the UK’s regional office markets, latest figures suggest. CBRE has revealed national rental value grew by 1.7 per cent over the second quarter of this year with offices across all UK regions performing well, and none recording a drop in rents. The highest rate of rental growth over the last twelve months, as we reported earlier this month remains that of Central London at 5 per cent (and 1.7 per cent for the last quarter), but a number of the regions outside London and the South East have started to record rental growth for prime offices, whereas until recently the general trend has been down.

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