London Commercial Property Market 1st Quarter 2020

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London’s commercial property market entered 2020 with forecasted supply constraints and substantial rental growth. During the initial weeks of Q1, the market moved as anticipated.

Offices

Take-up levels were off to a slow start of the year, which translated into above-average availability. Average vacancy rates in Central London neared 4%, but they increased to 10% in East London. Office take-up in the West End and the Tech Belt remained stable. The business services sector was behind most transactions, accounting for approximately a third of all deals during Q1. Other key occupiers were banking, finance, technology, and creative.

The largest deal of the quarter involved offices in the EC2 postcode, although overall, the City of London remained the most sought-after destination. Outside of the City, Hammersmith and White City commanded the largest number of enquiries.

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Will the Pandemic Change the Rules of Office Space Size?

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One of the key considerations for office-based businesses is making sure that workspace is efficiently allocated. Over the years, we’ve reached some consensus over what’s the best square metre-to-employee ratio. But with the recent developments brought about by the Covid-19 pandemic, things may be just about to change.

In this post we’ll take a look at the current rules of thumb on office space size and whether this will be affected by the pandemic.

How Much Space Is Enough?

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How to survive working from home during the Coronavirus pandemic

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As Covid-19 cases increase across the UK and the country on lockdown, employees who are able work from home have been asked to do so in order to help slow the speed of the virus and protect the vulnerable.

If you have never worked remotely before this can be a very confusing time. Whether you are a newbie remote worker finding it a struggle to remain productive or a manager who has been tasked with ensuring employees remain engaged and focused, we have created a quick guide to help navigate working from home during the Coronavirus pandemic. As the situation is changing daily we will continue to update this guide as the situation develops further.

So how can you continue to work effectively during this difficult time?

Setting up a designated workspace

No matter where you live, whether in a large house or a shared flat, it’s essential to set up a designated workspace. Working from the sofa may sound ideal for some, but creating a workspace in some shape or form will mean you will be more creative. A desk in a separate room with natural light is ideal however your living space may not allow for that, so at least setting up your laptop on an uncluttered kitchen table or counter top may be the best option for you.

How to stay focused and engaged

Creating a structure for your day is essential when working remotely. Without a structure in place you might find it difficult to motivate yourself, or on the other side of the fence you may find yourself unable to stop working well into the evening. Stick to your normal office hours, tea and lunch breaks. It is important to keep the work/life balance even though you are at home 24 hours a day. Another tip, as simple as this may sound, is to get dressed in the morning. The simple act of getting up at the usual time, showered and dressed will make you more productive and ready to start working straight away. Continue reading “How to survive working from home during the Coronavirus pandemic” →

Everything You Need to Know about the North London Business Park

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North London Business Park is a 16-hectare campus-style office development located in New Southgate, nestled in attractive landscaped grounds with a pretty lake. The park is accessible via Oakleigh Road South or Brunswick Park Road.

Commercial real estate at North London Business Park totals 382,000 square feet and includes a superb portfolio of dedicated office and educational space. Serviced offices are available at the Comer Innovation Centre, and units range from 250 to 80,000 square feet, available on flexible terms, making the park the perfect choice for local businesses and start-ups.

Office space at the North London Business Park is spread over six buildings, although not all currently offer office space:

– Building 3 is a three-storey structure surrounded by 40 acres of parkland that offers Grade A office space as well as serviced offices. Traditional office units are available as whole-floor units or in smaller suites of up to 125,000 square feet.

– Building 4: over 170,000 square feet with on-site security, a cafe, and close to public transportation. The building has open plan office space (sub-divisions considered) and meeting / training space.

– Building 5: a two-storey building complete with auditorium and 140 parking spaces.

– Building 6: the smallest of all buildings at North London Business Park.

Reception is located in Building 2 and there is conferencing and events space available at the Emerald Suite, which is located on the side of the park facing Oakleigh Road. This venue has an approximate capacity of 590 people and has 7 meeting rooms. Continue reading “Everything You Need to Know about the North London Business Park” →

Wembley’s East Lane Business Park

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East Lane Business Park is a commercial real estate development located in Wembley, London. The site has been developed to a total size of 36 acres and consists of multi-purpose industrial, warehousing, and storage units. Nearby amenities include supermarkets, petrol stations (the nearest one being only a couple minutes drive away on East Lane), bakeries, and restaurants. Along Preston Road there are medical centres and pharmacies, but the largest commercial area within close proximity of the park is in Wembley Central, which is 1.5 miles to the south of this business park.

Space for rent at East Lane Business Park

Commercial space at the park is available on a variety of terms, from short lets to conventional long leases and including flexible rental agreements.

Several types of commercial real estate are available at East Lane Business Park. Warehouse units usually range size from 2,000 to 3,000 square feet, but larger units are also available. Average rental rates for warehouse space go just over #30,000 / year for a medium-size unit to more than #83,000 / year for warehouse units of 10,000 square feet. This type of space features amenities and facilities like are side doors, roller shutter access, dedicated loading bays, office space, bathrooms, parking space, and 24/7 security. Units are accessible around the clock. Continue reading “Wembley’s East Lane Business Park” →

Recycling Office Furniture in London

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In this day and age, it is no longer simply an option to select the green choice for disposing of our unwanted office furniture and IT equipment; it is a corporate social responsibility (CSR). We as a society have become more and more aware of the consequences of our decisions regarding the disposal of waste in our domestic and working lives and the importance of sustainability, not only environmentally but also ethically. With the proliferation of businesses, charities and social enterprises dedicated to reuse and recycling, it has never been easier to arrange for clearance of unwanted office furniture in a socially responsible way.

There are a number of organisations in London who offer a comprehensive service including a survey, quotation, clearance and recycling or reuse of office furniture and goods. Where possible, most of these companies are committed to reuse and cultivate a network of organisations, charities and car-boot and Ebay sellers to repair, re-home and distribute the goods among charities, schools and businesses. Very rarely has office furniture reached the end of its intended life span at the point of disposal, as more often than not it has simply been replaced during a refurbishment or redecoration project. Reuse is by far the most ethically and environmentally friendly approach since the process of repairing, grading and re-installing reused furniture sustains jobs and creates 1000 times fewer CO2 emissions than the manufacturing of a new item. Where it is not possible to reuse, goods are broken down into separate materials to be effectively recycled. Waste goods that are not recycled end up in landfill which may contribute to air pollution due to methane emissions and contamination of water and soil.

Below are some companies offering office clearance in London: Continue reading “Recycling Office Furniture in London” →

London’s Office Buildings Making It Big In Hollywood

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For decades, London has been a top location for the film industry. Hundreds of movies and TV series have been set in London, whether in famous studios like Pinewood, Ealing, Leavesden, or Shepperton, or in the city’s streets and iconic buildings. More recently, some of London’s most representative office buildings have drawn the attention of filmmakers, since their varied architectural styles lend themselves to becoming the setting of everything from comedy to action films. Let’s take a look at the London office buildings that are making it big in Hollywood.

1. The Gherkin

One of London’s most iconic buildings, the Gherkin has received multiple awards due to its unique design and futuristic architecture. This 41-storey high office building was completed in 2003 and its tenants include Regus, Standard Life, JDA, ION Trading, and Kirkland and Ellis (1).

The Gherkin has appeared in several Hollywood blockbusters, including:

– Match Point (2005)
– Basic Instinct 2 (2006)
– A Good Year (2006)
– Harry Potter and the Half Blood Prince (2009)
– Thor: The Dark World (2013)

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The Most Highly Paid Office Jobs in London

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Careers in London - LondonOfficeSpace.com @officeinlondonClerical and desk-based jobs are a popular source of employment in London, although the type of roles available has evolved due to changes in the local and global economy. With the rise of the creative sector, many new and highly paid office jobs have appeared in London, and more specialised office jobs have been created in traditional sectors. Here’s an overview of the top 7 highest-paid office jobs in the nations capital.

1. Finance Officer

Finance officers are mainly responsible for budgeting, auditing, and defining financial policies at a corporate level. This role requires a detail-oriented and analytical personality, as well as an understanding of compliance and strong numerical abilities. This role is more common in large corporations and multinationals within banking, finance, insurance, consulting, but there are also opportunities in the public sector and in smaller companies.

Typical salary:

– Entry level: £30,000.
– City average: £50,000 (approximately 15% higher than the average salary for all other London-based jobs).
– Late career: up to £95,000.

2. Cloud Architect

Cloud computing is one of the fastest-growth fields in IT, since an increasing number of companies are moving their operations to the cloud. Some surveys suggest that up to 77% of businesses interviewed plan to adopt cloud computing within two years, so there are plenty of openings in this area. Continue reading “The Most Highly Paid Office Jobs in London” →

Innovative Meeting Spaces in London.

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London tops the list of the 25 best meeting destinations in Europe, hosting hundreds of conferences, congresses, and professional events every year. The city’s venues cater to every industry sector and accommodate meetings of all sizes, from meeting rooms for small gatherings to large venues capable of accommodating thousands of delegates. Among all this choice, we highlight some of the most innovative and unique meeting spaces in London.

1. Plexal

Plexal is an innovation centre and workspace built in 2017 to provide space for the development of cutting-edge ideas. The building is often chosen for hackathon’s, tech events, and meetups for the creative and tech sectors. Meeting space is suitable for events of up to 300 people, and stands out for the quality of its dedicated event technology. Cutting edge equipment like 3D printers come as a standard, as do large projection screens and monitors and bespoke lighting.

Another way in which Plexal stands out from other meeting venues is its indoor park. This unique space has been specifically created to host informal events, but can also double as a breakout area. Sitting is arranged in bleachers, loungers, deck chairs, even bean bags.

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London Office Space in Strong Demand

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Demand For Office Space In London

London is a premium office market at a global level, and as such, demand for office space in the British capital is always on the rise. Demand for office space in London is evenly distributed across three sub-market categories:

Established markets are in centrally located areas, like the City of London, London Bridge, Canary Wharf, Tech City/ Shoreditch, Aldgate, and Clerkenwell. In the West End, in-demand sub-markets include Westminster, Paddington, St James, and Mayfair. Other more recently established office markets are King’s Cross and Southbank.

Up-and-coming or emerging office sub-markets are mainly located in South and East London. In South London, demand is stronger in Battersea, Vauxhall, Nine Elms and the Greenwich Peninsula, where many new high-spec offices are being built alongside residential buildings. Continue reading “London Office Space in Strong Demand” →