When does a business come of age?
For many business owners, they would say when they move into their first office, or take a step into an exciting new space that will see the business through the next few years.
For many business owners, they would say when they move into their first office, or take a step into an exciting new space that will see the business through the next few years.
It would appear that Transport for London’s latest property plan will amount to more than just shelter for trainspotters. On the contrary, the £1.1 billion project plans to convert some of the capital’s Tube and bus stations into luxury apartments – and many other uses.
There’s no place like home. Especially if you’re a small business. This is how a vast number of start-ups begin, with one of the most famous being, of course, Apple. The garage initially used by Steve Jobs at his family’s modest ranch-style home in Los Altos, California, was even granted historic site status in 2013.
Fourteen post-war office buildings have acquired Grade II-listed building status, as announced by English Heritage. A building can only attract the listed status after it has reached 30 years since construction. Hence English Heritage has been taking into consideration buildings dating from between 1964 and 1984.
Strutt and Parker has released results of research it has carried out into likely influences on the UK property market over the coming years. The agency looked into potential trends in terms of use, lease models, and location, amongst others, garnering data from interviews, an online survey and research.
Qatari Investment authority has just successfully won a bid for Canary Wharf, a renowned business district in London. The area is distinct for its congregation of banks and massive floor plates. Many were surprised that the bid of 350p per share was accepted as Songbird has previously demanded at least 400p plus per share.
The city of Dubai, fuelled by major glass-fronted development over the past 40 years, appears to have realised that its residents may appreciate more than shopping and gyms. A new design-led area is being purpose-built in the desert, aimed at attracting start-ups and ‘creatives’. While this sounds like the antipathy of how fringe areas usually develop – usually led and grown by the occupants themselves rather than the planners – in Dubai there is little choice if such an area is to flourish.
One of the largest ever portfolio developments is close to beginning with TFL looking to secure Joint Venture partners for its proposed 75 site developments around Central London. Old Street Roundabout, Kidbrooke railway and Bermondsey + South Kensington tube stations have been mooted as potential sites for the vast development plans held by TFL.
The deputy leader of Westminster Council has voiced his concerns over the number of office-to-residential conversions taking place in the borough. Robert Davis, in a recent speech, emphasised that losing valuable office space in favour of residential developments and conversion will change the face of the area for ever, interfering with the fine balance of business, residential and cultural uses that has become established over hundreds of years.
The most recent report by the global real estate adviser Cushman and Wakefield shows that £20.5 billion was invested into the UK commercial property market last year. The previous high peak was £20.6 billion in 2007, before the financial crash. In the final quarter of 2014, the investment in the City of London and Docklands reached its highest ever amount, at £5 billion. The third quarter figures reveal that the West End saw its best quarterly volume at £2.4 billion of deals.