Posted on March 26, 2012 by Rob Powell
MILLIONS of pounds of London office building contracts have been won by Galliford Try.
The building group has announced that it has been chosen to build £100,000 sq ft of Grade-A office space near St James’s Park.
It won the £27 million contract for the project from development company, Green Property.
Galliford Try has also won a contract worth almost £9 million from Royal London Mutual Insurance to refurbish and extend extend 6,500 sq m of office space at 1A Wimpole Street.
Galliford Try Chief Executive Greg Fitzgerald said: “We are delighted to have won such significant contracts in the commercial sector. The London office sector remains an important market for us.”
Previous project by the London based builder include the £37 million construction of One Lothbury and a £17 million mixed use project in Mayfair‘s Dover Street.
Posted in London |
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Posted on March 12, 2012 by Rob Powell
CENTRAL Hong Kong is now the most expensive place in the world for prime office space, according to new research.
Premium offices in Hong Kong will cost businesses owners over £97 per sq ft per annum, says the report by Knight Frank. London’s West End, previously the most expensive place for office space, will cost £92.50 per sq ft per annum to rent.
The City of London comes 8th in the global office rents list, which is based on data collected throughout 2011.
Matthew Colbourne, senior international research analyst at Knight Frank, commented:
“Office occupiers remain cautious in many international markets, particularly with concerns over the strength of the global economy, and the future of the Eurozone, resurfacing in recent months. The pace of prime office rental growth in Europe slowed significantly in the second half of 2011, with rents remaining essentially flat in markets such as London (West End) and Frankfurt.
“Asian cities are experiencing mixed fortunes; while confidence remains high in mainland China, falling office rents were observed in late 2011 in markets dependent on demand from international financial occupiers, such as Hong Kong and Singapore.”
Global Office Rents Top 10
- Hong Kong
- London (West End)
- Tokyo
- Moscow
- Paris
- Singapore
- Perth
- London (The City)
- Geneva
- Sydney
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Posted on March 12, 2012 by Rob Powell
OFFICES formerly belonging to a brewery in Staines are to be turned into Grade-A office space.
Ashby House is a three story office building in the town centre, formerly occupied by Courage Brewery and more recently the national sales office for Heineken.
Planning consent was granted late last year by the local authority, Spelthorne Council, for the part-demolition and refurbishment of the building which was built in 1989 and is a short walk from the River Thames.
Architects ESA – part of Capita Symonds – have published an image (above) of how the renewed building will look.
Nic Sampson, Design Director, ESA, said: “The result is effectively a new-build, providing Grade-A office space in the heart of the town.”
A tender for contractors will go out in the summer with work expected to start on site in the autumn.
Later this year, the town of Staines will be renamed as Staines-upon-Thames as part of a bid to boost the local economy.
Posted in Middlesex |
Tagged Demolitions, Planning, Renovations |
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Posted on February 27, 2012 by Rob Powell
A LARGE property developer has announced it will sell its entire office portfolio.
The news from Hammerson came as it published its full year results for 2011. Like for like rental income was up by 2.5% but it would dispose of its offices over the medium term and instead focus on its retail portfolio.
Hammerson’s offices include several major City of London developments including 99 Bishopsgate, valued in excess of £200million, 125 Old Broad Street and 1 Leadenhall Court.
David Atkins, Chief Executive of Hammerson, said:
“Hammerson has created a retail business delivering outperformance from prime assets in winning locations. We now intend to sell our standing office investments over the medium term to maximise returns, redeploying capital into the retail sector to exploit our expertise and build on our existing scale. This will create efficiencies that lead to further cost savings and income growth from our portfolio.”
The company’s retail portfolio includes Brent Cross Shopping Centre, the Bullring in Birmingham and Cabot Circus in Bristol.
Posted in Bristol, London, West Midlands |
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Posted on February 20, 2012 by Rob Powell
NEW research has shown the vast amount of office space in London’s West End that has been “lost” to the residential market.
Over 200,000 sq ft of office space in the West End was converted to homes in 2010, and figures from the first quarter of 2011 show the rate of conversions increasing.
The research comes from property consultants H2SO and is an update to a report they first carried out last year. Using data from Westminster Council’s planning office, HS20 has calculated that 3.1million sq ft of office space was converted to residential use between 2001 and 2010.
The strength of property prices in the West End is thought to be a key driver behind the change.
H2SO partner, Paul Smith, comments: “As high-end residential values continue to outstrip their commercial counterparts, it is inevitable that an increasing number of property owners will continue to explore the option for residential conversion. This update demonstrates that the rate of conversion is not abating and is, in fact, due to start accelerating.”
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Posted on February 16, 2012 by Rob Powell
AN HISTORIC country house in Somerset which has been used for fifty years as office space is set to be turned into a visitor attraction.
Hestercombe House, near Taunton, is being handed over by Somerset County Council to the Hestercombe Gardens Trust who plan to renovate the building and open it to visitors.
The impressive country home, which has been enlarged and rebuilt since a house was first built in the 16th century, has been owned by the county council since the 1950s. It has been used as administrative offices and as the emergency call centre for local fire and rescue services.
The council, who can’t afford to maintain the building, will now licence Hestercombe House to the Trust, who already maintain and open the gardens to visitors.
Somerset county councillor, David Huxtable, commented:
“This is great news for the council, great news for Somerset residents and great news for the Trust. The building needs improving and investment – money we just do not have in these tight financial times. The Trust has a bold plan to carry out improvements. It will be great to see part of our Somerset heritage fully restored and thriving once again. We wish success to all concerned with Hestercombe’s future.”
Posted in Somerset |
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Posted on February 8, 2012 by Rob Powell
THOUSANDS of O2 employees will take part in a home working trial as the company prepares for London 2012.
The initiative by the mobile phone giant aims to “push the boundaries” of what’s possible though home working, the company says.
This summer’s Olympic games are expected to put a major strain on the capital’s transport network and companies are being encouraged to make contingency plans.
O2 says it will share findings from its pilot with other organisations as 3,000 employees take part as the doors to its Slough HQ are closed for a day.
O2 Business Director, Ben Dowd, commented: “Today’s office-wide flexible working initiative is an opportunity for us to take the next step on our flexible working journey and tangibly demonstrate the opportunity and potential available to British businesses today.
We practice what we preach, and by asking O2 employees to work together as a team to test the company’s flexible working practices for themselves, we want to show that there are no limits – no matter how big or small your business is.”
Posted in Berkshire |
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Posted on February 8, 2012 by Rob Powell
FORMER council offices in East London could soon be demolished to way for new homes.
Fairview Homes has applied for permission to knock down Chingford’s old municipal offices.
The locally listed old town hall, built in the 1920s, which forms part of the site will not be knocked down if permission is granted by the local authority.
Waltham Forest council issued a briefing note to prospective bidders last year where it started that the land, about 5 minutes walk from the town’s shopping area, would be suitable for a residential development.
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Posted on January 27, 2012 by Rob Powell
SERVICED office provider i2 Office has announce yet another new business centre – this time in Watford.
The Milton-Keynes based company is showing no signs of slowing down as it announces the deal just weeks after new business centres were announced in the City of London and Manchester, and the Greenwich centre has just opened for business.
The Watford business centre will be based at Meridien House adjacent to Watford Junction station and fitting out is already under way.
Philip Grace, CEO of i2 Office, said: “Watford is an important business centre for the North of London and our new business centre will be perfectly located for rail and road access.”
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Posted on January 24, 2012 by Rob Powell
DAVID CAMERON has announced a new campaign to inspire entrepreneurs including an initiative to make available spare government office space.
The Prime Minister launched the ‘Business in You’ campaign yesterday in Yorkshire, and told invited business people that he wanted to offer unused government office space to start up businesses.
“It’s a very simple, very practical idea. It’s about using the spare space that we have in the public sector to help businesses to grow in the private sector.”
The ‘Business in You’ scheme is a partnership between the government and organisations such as Startup Britain, the CBI and the Federation of Small Businesses. A new website provides startup success stories and aims to put entrepreneurs in touch with business mentors.
Earlier this month, it was revealed that the government owns hundreds of offices around the country that are not being used.
Posted in Misc |
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