editorIAM – Page 16 – London Office Buzz

The Most Sought After Careers and Popular Jobs in London

Posted on January 3, 2014

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.

London is also the most popular UK city for graduates who are in search of their first job. This trend has been specially notorious since the economic recession hit, according to the Higher Education Careers Services Unit. But where exactly are the most popular jobs in London and what are the key trends for the near future? In this article we take a look at the most fruitful sources of employment in the British capital and at some interesting data about them.

Finance and banking

With hundreds of financial institutions from all over the world headquartered in London, the city naturally attracts jobseekers who are interested in pursuing a career in finance. The city’s status as a leading financial centre at international level is one of the main reasons why the finance job market in London escaped the worst of the recession. In May 2012, a survey carried out by the Centre for Economics and Business Research showed that financial jobs in the City were down by nearly 100,000 when compared to the pre-recession years. However, the sector has since stabilised and currently the number of finance jobs available is on the rise. Banking jobs have increased by 3.2 per cent, whereas the bulk of finance jobs available is 1.8 per cent higher than last year.

According to the Higher Education Careers Services Unit, approximately 66 per cent of all graduates who are currently working as financial analysts began their career in London. One thing is clear: the finance job market in London is changing, and while jobs some types of finance and banking are becoming scarce, there are new opportunities in areas like fund management and insurance.

Construction

Construction is a booming sector in London that has benefited from the celebration of the Olympic Games and from some large-scale infrastructure projects, like the Thames Tideway Tunnel or Crossrail, which will require large numbers of construction workers until 2019. All in all, there are nearly 700 ongoing construction projects around London. In the residential sector, there are more than 200,000 London homes with approved building permission. According to the Construction Skills Network, at the end of 2012 there were 260,000 people employed in the construction sector in Greater London.

However, the London Assembly Economy Committee has recently published a report affirming that there are important skills shortages in this particular labour market, especially when it comes to dry liners, glazers, plasterers, and building envelope specialists. These are the areas where the best paying constrution jobs can be found.

Hospitality

London is an industry leader in the hotel and catering industry, and according to some recent reports, the hospitality industry in the capital has outpaced the rest of the country and is showing growth levels that are higher than those of the pre-recession years. By 2020, it is expected that there will be 5,000 new hotel rooms in the city, in addition to the 8,000 that opened up on occasion of the Olympics.

Yet, the latest State of the Nation report shows that the city is experiencing critical skill shortages, especially when it comes to chefs and qualified hospitality managers. While vacancies for front of the house staff and waiting staff are always available in London, the highest paying hospitality jobs require at least a bachelor’s degree in a relevant field.

Retail

Retail is one of the most important contributors to the economy of London. According to data published at the London’s Economic Plan website, the retail industry employs more than 400,000 people, a figure that represents approximately 9 per cent of all jobs in Greater London. It is expected that within the next ten years, there will be a further 75,000 retail vacancies available in the city.

By far, the most popular retail jobs are to be found in specialist clothing stores, which employ 78,000 jobs across London. Next are food retail outlets, which provide more than 22,000 people, followed by outlets selling electrical goods, books, and furniture, in which more than 10,000 people are employed.

Work and Career New Year Resolutions for 2014

Posted on December 20, 2013

The countdown to Christmas has already started. In addition to being the best time of the year for family gatherings and for taking some well-deserved time off, the transition period between one year and the next is also great for setting up personal and professional goals. New Year resolutions are often consigned to oblivion after a few weeks, but more likely than not, this is so because the resolutions were not realistic enough. When it comes to the workplace, this period is the perfect time of the year to take stock of our achievements and to set out a few reasonable objectives for the year that’s just about to start. In this article you will find some useful suggestions that might inspire you to start the new year in the office with motivation and enthusiasm.

Start the year with a positive attitude

Although this may seem obvious, a positive attitude can make a world of a difference when it comes to your working life. If you only decide on one New Year resolution for 2014, make it taking yourself less seriously. Of course, there are stressful situations that you will have to deal with, such as dealing with difficult customers, meeting strict deadlines, or simply surviving the kind of days when everything seems to go wrong. But if you think of it, chances are that you will not be the only one in the office feeling overwhelmed by this type of situations. Taking negative things with a pinch of salt and with a lot of humour can help reduce the tension in the office atmosphere.

Avoid gossip and criticism

Whether we like it or not, office politics are a fact of life in most workplaces. Having to spend at least 8 hours a day, 5 days a week surrounded by people with different personalities and points of view can be hard and lead to much complaining and criticism. Many employees see criticism and gossip as a way of blowing off some steam, but in the long term, this will end up being counter-productive. Gossiping about others in the office undermines motivation, team spirit, and ultimately, productivity. Make a point of doing your part to contribute to a healthier working environment by avoiding listening and spreading gossip and criticism. Continue reading “Work and Career New Year Resolutions for 2014” →

Overview of London’s Commercial Property Market – 4th Quarter 2013

Posted on December 13, 2013

Latest trends in the London office property market

According to an October 2013 report published by Jones Lang Lasalle, the main characteristic of the London office market during the last quarter of the year has been accelerated rental growth. This has been especially evident in London’s West End and in the City. Prime office rental values in the West End and in the City evidence a quarter-on-quarter increase of nearly 4 per cent. This means that the London office market is now among the top five most expensive in Europe.

Quarter-on-quarter surveys show that the highest increase in rental values has taken place in properties located in Mayfair and St James’, where prices have reached £110 per square foot. Other significant increases have been observed in Soho, Covent Garden, Victoria, Noho, and Fitzrovia. The areas that have experienced the least dramatic increases are Shoreditch, Old Street, Canary Wharf, and Camden.

The largest transaction during this quarter involved a 430,000 square feet property near London Bridge.

The retail property market in London, Q4 2013

The London retail property market has bucked the nationwide trend during this quarter, as it has been characterised by rental growth and low vacancy rates. When compared to the fourth quarter of 2012, retail rental values are 5.7 per cent up.

Investment yields in prime locations have increased by 4.75 per cent, whereas in secondary locations they have grown by 6.25 per cent. However, during the fourth quarter of the year, rental value growth levels for retail floor space has decreased by 0.6 per cent. Continue reading “Overview of London’s Commercial Property Market – 4th Quarter 2013” →

The Most Interesting Office Conversions in London

Posted on November 29, 2013

The Most Interesting Office Conversions in London

London isn’t a city that does things by halves. While there are plenty of contemporary and standard buildings about, there are plenty of unique office locations. In fact, some of the most interesting office conversions in the world can be found there. From historic buildings to air raid shelters, London features plenty of interesting office conversions.

The Kingsway Tunnels
London’s Kingsway Tunnels acted as air raid shelters during WWII. Located in the heart of Holborn, it is perfectly situated for the financial district. Despite this, thousands of people walk past the modest looking doorways without giving a second glance. Over the years, the Kingsway Tunnels have acted as a unique office location for over 200 BT employees at any one time. In 2009, BT announced that they were selling the tunnels, generating a flurry of interest from art galleries, retail stores, and more.

Nike Town in Oxford Street
The exterior of the buildings in Oxford Street haven’t changed since the Regency Era. When Nike came along to develop Nike Town, they revolutionised the inside of the building, but left the outside in tact. Indoors there are table legs formed from scaffolding, TVs on every wall, and branded sports equipment almost everywhere. This makes a refreshing change from the usual shops you find on Oxford Street, by plonking a high-tech office in their midst.

Broadgate Office Building
Broad Street station was a functioning tube stop off from 1865 to the mid 1980s. After being closed, the station stood derelict for more than a decade. Today, it acts as office space for artists and other workers. However, that isn’t the full story. As well as using the space that one housed commuters on their way to work, there are recycled underground carriages sitting on top of the building. From the outside, these carriages look as though they have been dumped there and grafitied. On the inside, there is a team of artists hard at work, making the most of the sustainable office space they got their hands on. Continue reading “The Most Interesting Office Conversions in London” →

Six Unusual, Quirky and Unique Coffee Shops in London

Posted on November 15, 2013

Some of London’s finest coffee shops

The heartland of theatre, dining, shopping, and nightlife, the City of London has more to offer than anywhere in the world. The home of unique, artisan coffee shops, exquisite afternoon tea arrangements, and quirky menus designed by talented chefs, makes London the place to stop for the ultimate coffee shop experience, after you’ve taken in your favourite tourist sites. For a taste of what’s on offer check out these six incredible coffee shops in London.

1. South Bank: Westminster Bridge – Brassierie Joel

Park Plaza Hotel, Westminster Bridge

Enjoy free live music, seasonal produce and a snack, on London’s trendy South Bank. The lounge and patisserie coffee shop attached to the brand new Park Plaza Hotel, Westminster Bridge, is home to celebrity chef Joel Antunes. Serving gorgeous afternoon teas and a view to die for, this perfect place overlooking the River Thames, is the place to go after viewing the art at the Tate Gallery, or going for a ride on the London Eye.

2. Marylebone: Near Oxford Circus – Villandry Charcuterie

170 Great Portland Street, Marylebone, W1W 5Q.

This delightful restaurant and Grand Cafe venue is also a food store, making it ideal to pick up a hamper to go picnicking in nearby Hyde park. Complete with several dining rooms, two cafes, including an outdoor tearoom, this stylish venue prides itself on sourcing the best produce from around the world. You’ll think you’ve died and gone to coffee heaven sipping deluxe beverages, and sampling the famous cake counter menu. Continue reading “Six Unusual, Quirky and Unique Coffee Shops in London” →

Has the Royal Baby boosted the Economy?

Posted on October 29, 2013

Despite predictions of doom, prophecies of gloom, and the never-ending austerity anachronisms bandied about by the British media, the British economy has edged into recovery. This recovery has leading financial pundits grasping for explanations, including the possibility Royal Baby George is somehow responsible for pushing macro-economic pounds around the United Kingdom.

The mystical source of rising GDP in the Northern Hemisphere’s seventh largest economy, is rumoured to be due to a chunk of benevolent circumstances, which fall outside technocratic economic models. Think-tanks have been out-thunk by the birth of a magical boy baby, whose Midas-touch upon arrival, blessed the London Stock Exchange with trading certainty. In the month leading up to the Royal birth the FTSE index rose by 59 points – equalling the highest net-rise for the market in 2013. This can’t be coincidence.

Alongside one of the biggest baby booms seen in England since the birth of the previous Royal singleton, Prince William, in 1982, more than an explosion in the coffers of Mothercare has led to the economic recovery Britain is experiencing. The spirited flame containing Olympic Gold, lingering from the incredible successes of the 2012 London Olympics, must have been passed to new Prince George – if the price of gold is anything to go by. Commodity traders cleaned up on July 22nd, 2013, as the COMEX indice shot up to 1315 from a slump of 1200 at the month’s start. Pop those champagne corks now – there’s a new Royal baby in town! Continue reading “Has the Royal Baby boosted the Economy?” →

Overview of London’s Commercial Property Market – 3rd Quarter 2013

Posted on October 4, 2013

According to the latest research data, during the third quarter of 2013 the commercial property market in the British capital continued to show signs of growth. These signs began to be evident earlier in the year, and in line with the forecasts, the market has continued to stabilise between the months of July and September.

Across all sectors take up figures have been on the rise, but particularly in the retail and office markets. With nearly 3 million square feet being taken up during this quarter, the availability of Grade A commercial space in London has recently hit a ten-year low. Following a period of generalised slowdown in economic activity caused by the recession, it finally seems that the commercial property market is on its definitive way to recovery. The positive signs are particularly striking when compared to the same period during 2012, as in the year to date take up figures for commercial property in London are 42 per cent higher than last year.

Despite the positive outlook, investors and occupiers remain cautious, and this has been reflected in the value of prime rents, which remain stable across the commercial property market in the capital. Other market indicators that are worth mentioning include the increased vacancy rates and supply indexes in the West End. This, along with low occupier demand and a very low volume of projects under construction, suggest that there is a clear preference for properties in The City and Docklands areas.

Key trends in the London office property market

During the third quarter of 2013, approximately 75 per cent of all the properties taken up were classified as office space were based in The City. The properties in this area of London continue to be favoured by firms who are looking to upgrade their office accommodation, despite the high cost of prime rents when compared to other parts of the capital. Continue reading →

Focus On: Highgate Business Centre

Posted on September 2, 2013

Highgate Business Centre

33 Greenwood Place, Kentish Town, London NW5 1LB

Highgate Business Centre is set in an imposing and characteristic warehouse built in the Victorian era, circa 1880, when the whole of Kentish Town went under huge development, both residential and commercial as a area for warehouses and the expansion of the UK railway network . More recently it has undergone a stage by stage renovation project to comprehensively overhaul each floor to create a modern and usable space. However, during renovation, specific focus has been directed towards maintaining the building’s historical features, character and style.

Refurbishments have included the fitting of fashionable up-lighting throughout; industrial elements are highlighted to create a modern, stylish feel; the external facade is maintained while multi-pane double glazed windows have been fitted with steel trimmings to sustain the theme. Floor by floor, the building has been upgraded and now provides spacious and economic office space and units that are stylish, bright, well-lit with natural light, spacious, airy and flexible in terms of use.

Current use

The building is currently used to provide contemporary studio offices, industrial spaces and accommodation. The majority of the office space has the versatility of demountable partitions which are used to change the layout of the internal area, providing office design flexibility for those companies wishing to rent space within the business centre. The on-site amenities include two lifts, disabled access and facilities, 24 hour access, a dedicated care-taker, an entry phone system and secure parking. The building is particularly popular with creatives including advertising, marketing, architecture, design and web-based companies. This type of clientele has played a large part in building the diversity and energy of the local area, which is now undergoing regeneration itself.

Getting there

Highgate business centre is easily accessible being situated on Greenwood Place, just off Highgate Road in up-and-coming Kentish Town. The centre is just five minutes walk from Kentish Town tube station which is served by the Northern line. Alternatively, Capital Connects over ground train line serves Kentish Town rail station. This mainline station has a direct pedestrian link to Kentish Town underground. From the tube station, turn right up Kentish Town Road and bear left as the road forks. Follow on to take Highgate Road, go past the HMV Forum music venue and turn left into Greenwood Place.

Highgate Business Centre Office Space

If you’re interested in finding out about office space at this centre give us a call on 020 3053 3893 or send us a message.

Click here to view other offices in Highgate and North London.

Explore Fleet Street: History, Architecture, Business and Tourism

Posted on August 22, 2013

Fleet Street – The historic heart of Britain’s newspaper industry is Fleet Street. Given its past as a centre for publishing and printing, Fleet Street has become linked to some of Britain’s most notable literary personalities. A main thoroughfare throughout its history, Fleet Street is today connected with the rest of the city with nearby Underground stations, including Temple, Chancery Lane, and Blackfriars, as well as the City Thameslink and Blackfrairs railway stations.

Continue reading “Explore Fleet Street: History, Architecture, Business and Tourism” →

Focus On: Southampton Buildings Chancery Lane

Posted on August 15, 2013

Chancery Lane – Greater London – WC2A 1AL

Chancery Lane was originally made and used by the Knights Templar wishing for easier access between Holborn and the Strand. Along this lane, they went on to build their original Knights Templar temple, on the same site that now houses the Southampton buildings, a row of magnificent structures built in the early Victorian era. The buildings were purpose built and most famously used for the headquarters of the UK’s Patent Office from 1902 until late in the 1990’s. When the headquarters moved to bigger premises, the Southampton buildings undertook internal renovation work throughout. Whilst keeping the stunning exterior of the building in its original form, the inside of the buildings have been well designed, crafted and mix both modern design with Victorian grandness. The highlight of the building is perhaps the original galleried reading room, which remains as majestic as ever.

The building is now used as a provider of executive offices, meeting rooms and suites, all crafted and finished to a very high standard, with most offering flexibility and the opportunity to tailor the space to the specific needs of the business. The beautiful lobby provides an impressive entrance and welcome to the building, and the professional and stylish environment more commonly attracts corporate business interest. The Southampton buildings offer several services and amenities including: air conditioning, lifts, 24-hour access, CCTV and access facilities for disabled. Furthermore there is on site IT support as well as full network computer cabling across the building and wifi available throughout. The office spaces are unbranded, furnished (if desired), set up for video conferencing and finished to a high specification. Additionally, the reception provides a 24 hour greeter, answer phone and telephone service. There is also the option to use the address as a virtual office with all the usual services being available, including customised phone answering, email messages, mailing address and post forwarding. The buildings location is in easy walking distance to local amenities such as coffee shops, restaurants and bars

Getting there

The Southampton buildings are easily accessible by both London underground and over ground train networks. Chancery Lane tube station is just a 200 meters walk, with Holborn and Farringdon tube stops also only 600 meters away. Additionally, City Thameslink station, Farringdon and Blackfriars are all within 500 meters or so.