December 10, 2013
Sale of premier real estate portfolio More London announced
More London has been sold to Kuwaiti firm St Martins Property Group for approximately £1.7 billion, according to Reuter’s sources. Owners London Bridge Holdings said it had originally intended to refinance More London (which is located adjacent to Tower Bridge and opposite The Tower of London), by the early summer of 2014 but had been persuaded to capitalize on “a highly attractive offer,” the details of which it has not yet disclosed. In a statement London Bridge Holdings said the transaction had underscored its success in transforming “a blighted, brown field site into a vibrant and vital global business centre.” The site was acquired in 1998 and is now a fully managed estate, with occupiers that include the Greater London Assembly – housed in City Hall, as well as PwC and Ernst and Young.
December 6, 2013
Extended rights to flexible working could prove a logistical headache for employers
by Pam Loch • Comment, Flexible working, Workplace
A recent decision by the government could result in emptier offices on Fridays and Mondays as staff vie with each other to work from home. This is because from April 2014 onwards, employers will have to be prepared to consider flexible working requests from any employee, not just for employees who have children under the age of 17 or responsibilities as carers. One of the more challenging areas for employers is how to manage condensed hours requests and to keep enough staff covering core office hours, without affecting the business. This could result in employers having to juggle competing flexible working requests from employees who they may not be able to accommodate all at the same time. (more…)