Search Results for: values

September 16, 2013

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

The 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 →

August 23, 2013

Investor confidence in commercial property highest in five years

by Sara Bean • News, Property

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 →

July 26, 2013

Report: How will the future affect us or can we effect the future?

by Sara Bean • Furniture, Knowledge, News

Workplace furniture specialist Kinnarps has published its Trend Report 2013, which is the culmination of detailed research across European markets and thought leaders, conducted in partnership with Stockholm based futurologists Kairos Future. The study distilled a broad overview of emerging and established trends, across Kinnarps’ European markets, to focus on eight key themes that will influence the workplace of the future. According to the report, big changes are already apparent in our society, but these will come to have an altogether greater impact on the way we evaluate our working environment. More →

July 22, 2013

Green shoots detected for UK regional office rental markets

by Sara Bean • Facilities management, News, Property

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.

June 11, 2013

Two thirds of UK managers complain of unethical demands by employers

by Sara Bean • Knowledge, Legal news, News, Workplace

Employee’s beliefs can differ from that of their employers, and that can cause them to face an ethical dilemma. Take yesterday’s news reports of an ex-CIA operative who alleges that the data-gathering centre GCHQ circumvented the law to gain information on UK citizens, or the recent (rejected) claims by three British Christians to the European Court of Human Rights in Strasbourg who argued their religious rights where being violated by their employers. Following the banking scandals, public expectations on business ethics have risen over the past few years, but are CSR policies being put into practise? It seems doubtful, as new research by the Institute of Leadership & Management (ILM) and Business in the Community (BITC) reveals that nearly two thirds (63 per cent) of managers have been expected to behave unethically at some point in their career.

May 29, 2013

Crown Estate in £320m joint venture to redevelop area around Regent Street

by Sara Bean • Company news, News, Property

The Crown Estate, which manages the Queen’s property portfolio has announced a joint 50/50 – £320 million venture with Canadian real estate company, Oxford Properties. The Crown Estate, which will retain the freehold and take the lead role in the development says the St James’s scheme will provide 210,000 ft² of prime office and 50,000 ft² of flagship retail and restaurant space in two blocks located between London’s Regent Street and Haymarket. The project forms part of the Crown Estate’s ten-year investment strategy for St James’s and will transform a run-down back street service yard and taxi ‘rat-run’ with: “a fantastic new amenity for St James’s, revitalising half and acre of public realm and creating a new 10,000 ft² pedestrian square for world-class business, shopping and dining.” More →

May 23, 2013

UK employee engagement and productivity lags behind most of world

by Sara Bean • Knowledge, News, Workplace

You might regard the concept of employee engagement as just a new way to describe industrial relations, but there is a growing body of research that UK employers need to do more to keep their employees on side. According to the latest missive, low employee engagement and lagging productivity is the greatest employment challenge facing UK business in 2013. Global research by Right Management found that this was the key concern for one in three (31 per cent ) employers compared to a global average of just one in five (21 per cent ) HR professionals, suggesting that after years of economic uncertainty and doing ‘more with less’, the UK workforce has reached a productivity impasse. More →

May 11, 2013

JSA launches latest league table of European office furniture companies

by Mark Eltringham • Company news, Furniture

As the world gets smaller and the communications revolution continues apace, one relatively unnoticed casualty is the design individuality of offices. Time was when you could walk into an office and the furniture would tell you whether you were in Paris, Frankfurt, New York, Milan, Moscow or London. The colours, shapes, materials, construction and image of the furniture were all very local, almost parochial. Who could fail to be struck by the muddy oranges and greens of a French office? Or the inevitable mahogany or teak real wood veneers used in the UK? The panels, worksurfaces and storage units which made up US cubicles were rarely seen outside North America and the massive, dark wood desks and cabinets in Central European deliberately overawed visitors and staff alike.

May 3, 2013

BIM provides opportunities for the built environment finds report

by Sara Bean • Architecture, Facilities management, Knowledge, News, Public Sector

Building Information Modelling (BIM) will raise productivity, provide better buildings, faster and cheaper and represents opportunities for the built environment to become a powerful international player. This is according to a major new report, Growth through BIM produced by Richard Saxon, the UK Government’s BIM Ambassador for Growth who concludes: “No wonder it has been mandated as government policy“. The Built Environment sector, for the purposes of his report, is defined as Property, Construction and Facilities Management, which accounts for about 15 per cent of GDP, and which he describes as: “an enabling sector, facilitating the performance of most other sectors”. 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.

April 15, 2013

Report claims empty offices could provide 11,500 homes

by Mark Eltringham • Knowledge, News, Property

According to new research from Lambert Smith Hampton, there is nearly 12m sq. ft of obsolete office space in the UK’s regional markets which the firm estimates could yield as much as 7.4m sq. ft. of space suitable for conversion to residential use under the Government’s controversial new planning rules. The researchers claim that this equates to approximately 11,500 new homes. The government has relaxed the planning systems in the UK to encourage developers to shift the use of space although critics have argued that this may serve to distort the market for property in some areas as residential properties are potentially more lucrative than commercial properties.

April 2, 2013

Will an upturn spark a revival of interest in the idea of employer branding?

by Mark Eltringham • Facilities management, Technology, Workplace, Workplace design

You may recall that a few years ago there was a voguish interest in the idea of employer branding. This is the kind of thing that has always gone on but can always be defined and popularised, in this case following the publication of a book on the subject in 2005. By 2008 Jackie Orme, the head of the Chartered Institute of Personnel and Development, was calling it ‘an integral part of business strategy’. Still, it appears to have dropped off the radar a bit over the last few years, a fact we might put down to the effect of the recession. Firms certainly seem to have their mind on other things. Research published last year by PriceWaterhouseCoopers showed that in 2009, 54 per cent of businesses said they placed a special focus on retaining talent. By 2012 that had dropped to 36 per cent.