editorIAM – Page 15 – London Office Buzz

Overview of London’s Commercial Property Market – 2nd Quarter 2014

Posted on June 13, 2014

The second quarter of 2014 has proven to be an active period for the capital’s commercial property market. In fact, the first half of this year has seen some of the highest activity levels and take-up rates since 2010. This has been undoubtedly prompted by increased consumer and business confidence, GDP growth, and a recovering labour market. Below you will find a detailed account of how the London commercial property market has fared during the second quarter of the year.

London office property market: trends and figures for Q2 – 2014

During the second quarter of 2014, nearly 3 million square feet of office space were transacted in London. The vast majority of deals involved office properties in The City and in the West End, whereas a relatively small number of deals involved office space in the Docklands area. Take-up rates were up by nearly 20 per cent on a 5-year quarterly average. Approximately 38 per cent of all deals were carried out by companies in the banking and finance sectors. The professional services industry accounted for 20 per cent of all deals, wheras the TMT sector carried out 16 per cent of all transactions.

In terms of rental values, growth has been clearly evident in nearly every sub-market. Prime rents were almost 12 per cent higher than during Q2 – 2013. In the West End, prime rents currently average £115 per square feet. Areas like Mayfair, St James, and Marylebone command the highest prices in the West End, while Battersea, Fulham, and Camden have the lowest rental values in the area. The cost of office space in The City has risen to £58.5 per square feet, and in the Docklands prime rents are in the region of £36 per square feet. There are more than 500,000 square feet under offer in the Docklands, so it is expected that rental values in this area will continue to rise during the remainder of 2014.

During this quarter, pre-letting deals constituted nearly 60 per cent of all transactions, although in some parts of the capital (such as The City), pre-letting accounted for a higher percentage of the total number of transactions. Some of the most noteworthy transactions involved properties that are still under construction in the West End, such as the office buildings at 1 Fitzroy Place, 10 Brock Street, and 10 New Burlington Street. These are expected to be completed by 2015.

Continue reading “Overview of London’s Commercial Property Market – 2nd Quarter 2014” →

The Best London Business Courier Services

Posted on June 6, 2014

Choosing the right courier service is vital for small businesses. Successful operations depend of efficient delivery of documents and goods, including timely delivery. A reliable courier service offers a range of guaranteed services and flexible hours to meet your needs.

Choosing the Right Courier Service

There are dozens of courier services in London. Many operate a range of transportation options that cater to different types of requirements, ranging from motorbikes and bicycles for documents and small parcels to vans and cars for larger items. Some may also use air cargo to ship items across the UK and beyond. A service with a range of transportation options gives you the peace of mind that they will be able to transport and deliver any type of package to any destination.

Another consideration is timing. A courier service that offers a range of time frames for delivery is important if you need a document or parcel shipped urgently. Common options include same-day delivery and next-day delivery. Collection and delivery times can vary depending on when you use the service, for example times may vary on holidays and weekends. It is important to understand timeframes for specific days when you need a courier service.

Flexibility is also important. A good courier service provides door to door service, where couriers pick up parcels and packages right at your door. Alternatively, top couriers operate shops that are conveniently located where items can be dropped off for delivery. Others may offer secure lockers where items can be left. Delivery time will typically vary depending on how items are dropped off, so it is important to confirm timeframes with the courier service. Certain couriers may also not provide same day service or online tracking, which might be crucial for some businesses.

Finally, cost is an important factor when choosing a courier service in London. The size, shape and weight of a letter, parcel or package will affect the price. Expedited services will also have a significant impact on the cost of shipping. Having an item delivered at a specific time is also very costly, whereas options such as same-day or next-day service without a set time can be less expensive. Additional fees may also be charged, including for insurance or other surcharges. It is important to ask courier services what all costs are as some may be hidden.

Top Courier Services in London Continue reading “The Best London Business Courier Services” →

Top Government-Backed Initiatives for SME’s in London

Posted on May 16, 2014

Small and medium sized businesses in London have access to a range of government-backed initiatives that support business development and growth. From loan programmers to mentoring initiatives, these schemes are designed to develop capacity, improve access to financing and support innovation. They are also important tools to help entrepreneurs and managers interested in developing business ideas and expanding their business.

Start Up Loans

Start Up Loans is a government funded scheme that provides loans and business mentors for entrepreneurs. The Start Up Loans Company is regulated by the Financial Conduct Authority and was originally created within the Department for Business, Innovation and Skills. Launched in 2012, Start Up Loans has lent more than £85 million to over 16,000 businesses across the UK. Entrepreneurs looking for other financing sources beyond banks and business grants may apply for loans of up to £15,000. In addition to financing, successful applicants have access to a business mentor and other support services.

Delivery partners work with entrepreneurs to develop their business plans and find mentors. Partners in London include Start Up Direct, East London Small Business Centre, South London Business, Connect London, NWES (Virgin Startup), Bright Ideas Trust, Financing Start-up Enterprise, TrainE-TraidE, Kaleidoscope, Fashion Angel and HBV Enterprise. For more information about Start Up Loans and to apply for funding, visit www.startuploans.co.uk. Continue reading “Top Government-Backed Initiatives for SME’s in London” →

The Launch of MedCity

Posted on May 9, 2014

The vision for MedCity is to position London and the South East of England as a leading centre for life science research, development, manufacturing and commercialisation. Launched in April 2014, it will also help develop the region as an interconnected cluster for life sciences over the next twenty years focused on the so-called ‘golden triangle’ of London, Oxford and Cambridge.

Vision for MedCity

MedCity will promote London and the greater South East as a world leader and interconnected region for the life sciences sector. The initiative will involve the collaboration of academic institutions, businesses from various industry sectors, academics and researchers, and government leaders and politicians, and investors. With already over 700,000 people in the South East employed in the life sciences and healthcare sectors, MedCity will be tasked with creating additional jobs in the region. It will also foster additional collaboration and joint ventures to help lead the way towards new discoveries that are commercially viable. The ultimate goal is to promote the life sciences sector in the South East to the same position as the financial services sector in the region and the broader national economy.

About MedCity Limited

Founded by the Mayor of London, MedCity Limited is a partnership between London-based King’s Health Partners, Imperial College Academic Health Science Centre and UCL Partners. The partnership also includes the support of the University of Cambridge and the University of Oxford. The initiative is modelled after the successful Tech City, a technology cluster centred in Central and East London. Continue reading “The Launch of MedCity” →

The Best of London: Jobs, Business Locations and Events

Posted on April 25, 2014

Without a doubt London is one of the most important business locations in the World. Lets take a look at some of the most popular and highest paying jobs, the most sought after business locations, the top business incubators and the essential networking events and conferences to attend in London.

The Most Sought After Careers and Popular Jobs in London

Being the capital of one of the strongest economies in the world, it is not surprising that London attracts thousands of jobseekers every year, who arrive in the British capital hoping to give a boost to their career by landing a position in the city. According to a March 2013 report published by local London newspaper The Evening Standard, the official unemployment rate in the city is at a four-year low, and currently stands at 7.8 per cent. Data collected by the Greater London Authority show that during 2013, the total number of jobs available in the city has increased by 3.9 per cent when compared to the previous year.

The Most Highly Paid Careers in London

As Britain’s biggest financial hub, London has plenty to offer in terms of high paying careers. From the towering buildings of Canary Wharf financial experts manipulate the stock market using a combination of expertise and risk. Within London and around its edges, pilots and flight engineers jet lucky holiday makers off to exotic destinations. If you fancy a career change, or just a little inspiration, these highly paid careers in London can set you right.

The Top Businsess Locations in London

Continue reading “The Best of London: Jobs, Business Locations and Events” →

Overview of London’s Commercial Property Market – 1st Quarter 2014

Posted on March 26, 2014

So far, 2014 has had a promising start in terms of the overall health of the UK’s real estate market. According to the most recent indicators, the British economy is experiencing its strongest growth levels since 2007, and this has undoubtedly had a positive knock-on effect in the UK’s real estate market. Take a look at the key trends and figures that have marked the commercial property market in London during the first quarter of the year.

The London office market: key facts and figures

During the first quarter of 2014, the predominant theme in the London office property market has been increased investment activity and the investors’ willingness to take on bigger risks and to get involved in larger transactions. This trend has been mostly evident in the geographical expansion of the office market within and beyond the city’s boundaries. In previous quarters, activity in the office market concentrated around the Central London area. However, during the first quarter of the year, occupiers and investors have shown an increasingly strong preference for out-of-town offices (whose yields have increased to 4 per cent) and for properties in the Thames Valley area, whose current investment yields average 6 per cent. Nevertheless, office space located in the city’s West End commands the highest investment yield values at an average of nearly 8 per cent, followed by City office floor space, which is currently yielding returns of 6 per cent.

The key role played last year by the technology, media, and communications sector in the growth of the London office market has continued to be evident during the first quarter of 2014. Analysts at Deloitte affirm that during the remainder of the year, the TMT sector will continue to be the most important source of demand in the capital’s office market. Likewise, analysts have noticed increased demand for office space from banking and financial companies, whose requirements for additional floor space seem to be back on track thanks to the generalised optimistic outlook of the British economy.

Another highlight of this quarter involves the drop in office vacancy rates, which currently stand at 6.8 per cent. This figure is a clear improvement over the long-term average for the city, which has been close to 8 per cent for the past five years. In Central London and the West End, class A prime office rents average £120 per square foot. Last year ended with average rental values of £110, but during the first quarter of 2014 rising demand has resulted in significant price increases.

Outside the West End, leasing activity has been particularly buoyant in areas like King’s Cross, Euston, Paddington, Midtown, Victoria, Mayfair, and the area north of Oxford Street. In fact, some of this sub-markets have experienced year-on-year rental growth values of up to 26 per cent.

Overall, during the first three months of 2014, the most obvious trends in the office property market have been strengthened occupier activity, increased rental values, and stronger investor activity. Continue reading “Overview of London’s Commercial Property Market – 1st Quarter 2014” →

Innovative Networking Events and Ideas in London

Posted on March 21, 2014

In a world where many businesses are caught up in driving commerce via social media, promotions as simple as networking are often neglected. Still, more and more individuals are recognising the need to return to traditional forms of marketing that work. If your approach to networking could do with a refresh, London is the right place to find success. Taking the innovative approach encourages those you network with to engage and creates a sense of excitement that will allow the buzz generated by your event to continue for some time.

Historic Medical Venue Hire

Choosing a historic venue for your networking event will awaken the audience’s imagination. Throw a tour into the mix and you will have everyone feeling enticed by the time the main event arrives. If possible, invite a guest speaker to follow the tour to add to the excitement.

London is teaming with historic venues, and it is those that are medical that often tell the greatest stories. The Royal Hospital of Chelsea–which is currently inhabited by the Chelsea pensioners–comes with a variety of rooms and conferencing facilities. Guests can network under the watchful eye of earls’ portraits in the State Apartments or they can enjoy the unrivaled acoustics of the Wren Chapel. The Royal Hospital is certainly majestic, but it doesn’t really feel medical. For a true healthcare setting, try contacting St. George’s University, in West London, which regularly hires out its hospital-themed sets for filming and other purposes.

Adopt Japanese Influences

In Japan, ‘Pecha kucha’ talks are all the rage. These talks simply mean ‘chit chat’, and are made of short five-minute presentations on concepts. Afterwards, guests have the opportunity to mingle with each other and discuss the ideas that were briefly introduced. The genius of this is quite simple really; five-minutes is enough to entice your audience into wanting to learn more about an idea, which sets the rest of the evening apart for discussions to take place.

Japanese venue hires aren’t in short supply in London. While you could host a ‘Pecha kucha’ anywhere, it feels fitting to give the Japanese concept a Japanese theme. The Japanese Roof Garden of the Brunei Gallery at SOAS, in Russell Square, can leave your guests feel as though they have been transported from London to Japan. The Mayfair is also home to a Japanese-style garden, but this one comes with a moonlit theme. Throw in Japanese drinks and dishes, such as Saki tasting sessions. Continue reading “Innovative Networking Events and Ideas in London” →

The London Marathon

Posted on March 14, 2014

The 34th London Marathon will be run on 13 April 2014, and is one of the world’s leading athletics events. The London Marathon attracts world and Olympic champions, as well as range of amateur runners of all abilities. The festive atmosphere often features playful runners dressed up for charity.

About the London Marathon

Although the current London Marathon was first run on 29 March 1981, long-distance races have been held in the city as early as 1909. In that year, the Polytechnic Marathon was organised for the first time. The last Polytechnic Marathon was run in 1996. The prestigious London Marathon is held each year in the spring. Founded by former Olympian Chris Brasher and John Disley, the London Marathon is one of the top six international marathons recognised by the International Association of Athletics Federations (IAAF) in addition to New York, Boston, Tokyo, Berlin and Chicago. The London Marathon features three groups of starters: Elite Women, Elite Men, and Wheelchair (men and women). These starter groups are followed by a Mass Race with runners of various abilities. The first edition of the London Marathon attracted 6,747 runners. In 2013, the event attracted 34,631 participants.

The Route

The route for the London Marathon is largely flat and concentrated around the River Thames. It has changed very little over the years, with changes primarily being made as a result of construction and road works. The race begins at three different points around Blackheath. The often fast-paced marathon ends at The Mall, next to St. James’s Park and close to Buckingham Palace. The course spans 42.195 kilometres, or 26 miles and 385 yards.

Beginning at Blackheath, the London Marathon travels south of the River Thames and east towards Charlton. The three separate starting points merge after 4.5 kilometres (2.8 miles) near the Royal Artillery Barracks in Woolwich. From there, runners travel past the Old Royal Naval College before heading to the Cutty Sark in Greenwich. The course then winds towards Surrey Quays at the Docklands, followed by Bermondsey. After running along Jamaica Road, competitors reach the half-way point of the marathon at Tower Bridge. Continue reading “The London Marathon” →

The Top Business Incubators in London

Posted on February 28, 2014

A business incubator is an excellent opportunity for start-up and development stage businesses to grow. Through a variety of supports that include mentorship, office space, financing and more, businesses and entrepreneurs are able to improve networks and develop skills and promising products or services for the market. London is home to some of the world’s top business incubator programmes, including Impact Hub and Accelerator.

Accelerator

Accelerator is a specialist business incubator located in Shoreditch. The district is at the centre of London’s information and communication technology (ICT) and digital media economy. Part of London Metropolitan University, the incubator provides services for students and businesses. For students, Accelerator offers support, advice and advice for any one interested in starting their own business. The program also runs an annual Business Plan Competition for students. From two-day boot camps for entrepreneurs and start-ups to meeting facilities, the incubator offers, the incubator delivers supports for pre-start up, start-up and early stage businesses. Both physical and virtual incubation is available to businesses primarily in the ICT and digital media community, including affordable office space, access to business support and training, networking opportunities, and other resources. For more information, visit www.accelerator-london.com.

Impact Hub Islington

Impact Hub is an international network with more than 8,000 members from around the world. Business and entrepreneurs in London have access to advice, resources and development opportunities from over 40 Impact Hubs in dozens of cities. The collaborative network includes Impact Hub Westminster, which opened in 2011. Impact Hub Islington hosts monthly programmes and events to provide entrepreneurs and businesses with opportunities to connect. With 1,200 members, Impact Hub Islington also makes a community workspace available for entrepreneurs and businesses to meet, connect, and work. The incubator is based in a modern space located at a converted warehouse near Angel tube station in Islington. Visit www.islington.impacthub.net for more information about Impact Hub. Continue reading “The Top Business Incubators in London” →

Office Breakfast Delivery Services in London

Posted on February 7, 2014

‘Breakfast like a King, Lunch like a Prince and Dine like a Pauper’ – a delicate balancing act of what quantities one should consume for the healthiest diet, this old saying has become somewhat turned on its head in recent years.

Breakfast is undoubtedly the most important meal of the day: it affects the rest of your day. Skipping this all important meal can lead to a host of irritations that will affect the entire day. Mood swings and gnawing hunger certainly won’t lead to a productive start to your day, and can make you snappish and difficult to get on with – something that is certainly not going to be helpful if there’s a big meeting coming up. After a full night’s sleep, the brain desperately needs to replenish its glucose stores, and so feasting on a scrumptious and healthy breakfast will extend your attention span as well as increasing productivity.

Of course, grabbing a bacon butty swimming in grease and butter – while being delicious and filling at the time – can be no better than eating nothing at all. Full of fat, calories and salt, breakfast meats such as bacon and sausage can sit in your stomach all day, making you feel bloated and uncomfortable. A balanced breakfast with slow-release foods and fruit can work wonders as a morning pick-me-up.

Luckily, in this age of instant messages, email and microwave-able ready meals, the hassle of cooking up a large, healthy and balanced breakfast can be dropped into another’s hands. Whether as part of the catering for a busy morning meeting or just to share with co-workers, there are many catering companies which offer a variety of readymade, delicious breakfast menus delivered to the office.

London’s office breakfast delivery businesses are booming, with companies such as Grazing, Franks Express, Kudos and Office Diner being only a sample few amongst dozens. Continue reading “Office Breakfast Delivery Services in London” →