January 31, 2013

New York state of mind to increase building energy efficiency by 20percent

by Sara Bean • Environment, Facilities management, Lighting, News, Technology

Build NY

In one of the most ambitious green initiatives in the United States, New York Governor Andrew Cuomo has issued an Executive Order directing state agencies to increase energy efficiency in state buildings by 20 percent in seven years. He also announced Build Smart NY, a plan to strategically implement the Executive Order by accelerating priority improvements in energy performance. The largest and most inefficient buildings will be addressed first and undergo comprehensive whole-building improvements, including new lighting fixtures and controls, heating, ventilating and air-conditioning systems and automated energy management systems. (more…)

January 25, 2013

Deadline to nominate Northern Ireland building design prowess

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

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Today (25 January) is the deadline to nominate Northern Ireland’s most remarkable developments in land, property and construction. The RICS (Royal Institution of Chartered Surveyors) Northern Ireland Awards will present accolades for Community Benefit, Building Conservation, Regeneration, and Design and Innovation at an awards ceremony in Riddel Hall, Queen’s University Belfast on 10 May. The scheme is open to anyone working within the property profession, and will celebrate the talents of surveyors, developers, engineers, planners, architects and others.

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January 25, 2013

London’s West End now most expensive office location in World

by Mark Eltringham • News, Property

London’s West End has overtaken Hong Kong’s Central district as the world’s costliest office location according to a new report from property consultancy DTZ. The annual occupancy cost per workstation in the West End was stable last year at $23,500 (£14,900) but moved from fifth to gain top spot as costs in Tokyo, Hong Kong, Dubai and Paris fell. Three weeks ago we reported that firms were migrating from the West End to London districts such as Clerkenwell and Shoreditch to take advantage of lower costs and pools of talent in new industries. (more…)

January 22, 2013

Europe’s commercial property investors opt for safe cities

by Mark Eltringham • News, Property

German cities dominate the investment prospects for Europe’s commercial real estate sector as investors favour safe havens according to a new report – Emerging Trends in Real Estate Europe 2013. Munich tops the league table followed closely by Berlin in second place and Hamburg in fifth position, with investors taking comfort from each of the cities’ strong local micro-economic climate and resilient property market conditions. London, which is seen by many as Europe’s safest investment, is the largest riser in this year’s report taking third position. (more…)

January 22, 2013

Green retro fitting a ‘best bet’ for 2013

by Sara Bean • Environment, News, Property

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Refurbishing existing buildings to new standards and turning them into good green assets has been identified as one of the best bets for the property sector in the year ahead, according to new research from the Urban Land Institute and PwC. The survey of industry leaders across Europe found the move to ‘reactivate assets’ – refurbish good properties with green credentials – is taking hold. Sustainable properties are increasingly commanding higher rents and values, as governments move to force companies to increase building’s energy efficiency and reduce their environmental footprint.

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January 16, 2013

Workplace transformation strategies are an essential element of CSR

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

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Adopting 21st-century workplace practices that meet the needs of employers and employees is an important form of Corporate Social Responsibility (CSR), according to a new corporate real estate (CRE) industry advocacy statement by CoreNet Global. The report finds the nature of work is “changing dramatically, transcending the traditional definitions of productivity to include the concepts of enabling work, employee engagement, employee satisfaction and employee wellness, framed around an emerging ‘work-life support’ business model.” (more…)

January 14, 2013

JLL’s CEO new Chairman of the UK Green Building Council

by Sara Bean • Architecture, Environment, News, Property

Jones Lang LaSalle’s Andrew Gould has succeeded Dan Labbad, Group CEO of Lend Lease, as Chairman of the UK Green Building Council. He takes up the position at a time when business leaders are increasingly focused on the need to show leadership on climate change and recognise the opportunities for green growth in the UK. The UK Green Building Council is an industry-led campaign group, part of a global network of Councils that are active in over 90 countries worldwide. (more…)

January 7, 2013

Appetite for long leases presents challenges

by Mark Eltringham • Property

The news from the weekend that Axa Real Estate is looking to raise around £1bn to invest in buildings with very long leases has resparked the debate into what sort of lease represents the best value for investors and tenants in these uncertain times. The new fund will target commercial properties with minimum twenty year leases even though investors have to pay a premium for such properties and the majority of occupiers don’t want them. (more…)

January 1, 2013

Regional slump responsible for overall UK property fall

by Mark Eltringham • News, Property

The New Year starts with news from Chicago based property broker Jones Lang LaSalle that investors spent some £ 30 billion on income generating property in the U.K. during 2012, about 9 percent less than in 2011. However there was a marked disparity between the London market and the rest of the UK. London deals totaled £18 billion in 2012, the highest figure for four years, while purchases outside the capital reached 12 billion pounds, the lowest amount over the same period. (more…)

December 31, 2012

Global office market to stabilise during 2013

by Mark Eltringham • Knowledge, News, Property

A new report from consultants Cushman and Wakefield has predicted that the global commercial real estate market will stabilise over the next twelve months and, in some areas of the world, may enjoy a degree of growth. While acknowledging wide regional variations, the report claims that there are some clear global themes that can be identified, not least in the ongoing growth of markets in Asia. Significant growth is not expected in the majority of regions until 2014 and beyond.