Europe is leading the way on real estate transparency as a raft of new sustainability legislation raises industry standards, according to the latest Global Real Estate Transparency Index [registration] published by JLL, in partnership with LaSalle. Six of the 12 countries classed as ‘Highly Transparent’ in the report are in Europe with France, the Netherlands, Germany and Belgium among the most improved, joining Ireland and Sweden. (more…)

Lord Michael Bichard has published the Bichard RICS Review into the Institution’s Purpose, Governance and Strategy, which RICS Governing Council commissioned last December. The review was a key recommendation of Alison Levitt QC’s critical report into historic issues at RICS, which was published last September. RICS Governing Council said it ‘strongly endorses’ the report and recommendations, which were informed by a global stakeholder consultation process, and will now commence work on their practical implementation. Lord Bichard states in his report that the future success of the organisation “will require nothing less than a transformation of the Institution carried out at pace” and described the need for change as “urgent” and “unarguable”. (more…)

Google has announced the opening of its new Bay View campus in Silicon Valley, representing the company’s first time developing its own major campus.  The Bay View campus was designed by architects Bjarke Ingels Group (BIG) and Heatherwick Studio, as well as Google’s design and engineering teams, and spans 42 acres adjacent to the NASA’s Ames Research Center in Silicon Valley. It totals 1.1 million square feet, with 20 acres of open space, two office buildings, an 1,000-person event centre, and 240 short-term employee accommodation units. (more…)

A study of the London office market from Gerald Eve suggests that there is now the highest number of lettings since before the pandemic with activity focused on smaller requirements and environmentally friendly buildings. Lettings between 10,000 and 20,000 sq ft made up a significant portion of demand with 713,000 sq ft (or 23 percent) of all activity, which totalled 3.1m sq ft in Q1. Tenants are now voting with their feet for best-in-class space, with sustainability at the forefront of decision making. Post-covid requirements continue to shape the criteria for office space as subjective business-linked or staff retention demands rank higher than overall cost in the search for office space. (more…)