March 2010 « London Offices

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London office space becomes vacant as the Government relocate to Bradford

Filed under: Uncategorized — Tags: Bradford, budget, cutbacks, government, london, London office space, office space, relocation — Adam @ 10:29 am

The government is in the process of announcing a dramatic office upheaval with 15,000 London office jobs to be relocated to other areas.

Bradford is currently being considered as a potential area for relocation of the London government workforce.

Regeneration officers in Bradford have said that offering office space for relocation could be mutually beneficial to Bradford and the government.

Not only is office space in Bradford “great value for money” but it is hoped that the relocation will boost the local economy.

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Lloyds Bank refute London office plans

Filed under: News — Tags: downsize, Edinburgh, Financial Times, Lloyds' bank, london, London office space, Manchester, office space — Adam @ 10:33 am

On Monday The Financial Times reported that Lloyds Banking Group planned to acquire London offices, but the company has now commented that they have no such plan.

The paper had unnamed sources, but wrote that the bank was making preparations to have a series of ‘regional hubs’ in Edinburgh, London and Manchester.

Initially no one at Lloyds was available to comment but, since the report was printed, a Lloyds representative has shed some light on the reported plan.

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London office prices increase as City starts to recover from the recession

Filed under: Uncategorized — Tags: Canary Wharf, Canary Wharf office space, london, London office space, office space, rental price, West End — Adam @ 10:54 am

London offices have recently seen the largest ever rise in rental values as the property market finally starts to recover from the recession.

The office rental market was seriously affected by the recession because businesses became reluctant to spend money on renting new office space.

But now, after two and a half years of decline, there is finally a price increase in the rent of commercial properties.

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Threadneedle signs three new tenants

Filed under: News — Tags: Business, commercial property, london, London office space, London offices, threadneedle, West End — Krista Harrison @ 9:00 am

Property investment firm Threadneedle Property Investments have announced the signing of three brand new leases at 85 Newman Street in London’s West End.

The new tenants they have signed will help Threadneedle obtain an increase in rental income by £258,000. (more…)

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Hammerson’s Docklands sale plan

Filed under: News — Tags: commercial property, Hammerson, Harbour Exchange Square, Jones Lang LaSalle, london, London Docklands, London office space, London offices — Krista Harrison @ 9:00 am

Real estate investment trust Hammerson is to test the water for investment interest by putting Harbour Exchange One and Two onto the market.

They are reported to be instructing Jones Lang LaSalle to put the building on to the market for £150 million, representing a net yield of 8.5% initially. (more…)

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Baby Shard gets backing from Southwark Council

Filed under: News — Tags: london, London Bridge, London office space, London offices, shard, skyscrapers, southwark, thames, the shard of glass towe — Krista Harrison @ 9:00 am

The ‘Baby Shard’ has been granted planning permission from Southwark Council after a redesign.

The building, designed to echo the Shard of Glass tower, which will stand opposite, was originally granted planning permission in 2007, however the Thameslink rail upgrade meant the the plans had to be rethought. (more…)

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Financial Services Authority bold move to Canary Wharf

Filed under: News — Tags: 25 The North Colonnade, Canary Wharf, financial services authority, FSA, John McAslan and Partners, London office space, London offices, skyscrapers — Krista Harrison @ 9:57 am

The Financial Services Authority (FSA) have recently announced that they will be moving to new office space in London’s Canary Wharf.

FSA are planning on taking another 460 members of staff to increase their authority and supervision across the financial industry of the UK, including an extra 100 staff for the enforcement team. (more…)

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London recognised as Low Carbon Economic Area

Filed under: News — Tags: carbon footprint, commercial property, development, energy, environment, london, London office space, London offices, sustainabilty, UK commercial property — Krista Harrison @ 12:10 pm

It has been announced that London has been designated as a Low Carbon Economic Area (LCEA).

It received the designation for energy efficient building and is the seventh area to be recognised under the scheme, the government strategy for a low carbon economy. It highlights £90 million of invested funding towards more sustainable building projects that have taken place recently by regional development agencies, rather than bringing new investment from the government. (more…)

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‘Octopus’ plans rejected in Chiswick

Filed under: News — Tags: business centres, chiswick, commercial property, london, London office space, London offices, new developments, octopus — Krista Harrison @ 10:21 am

Plans have been rejected for a futuristic office building in Chiswick.

The building, known as the ‘Octopus’ has been turned down due to it being too distracting to drivers, causing chaos on the roads. It was planned to sit on the Chiswick Roundabout, next to the M4 – a very busy junction. The proposed 170 ft building was designed by Ken Shuttleworth, the architect famous for designing the Gherkin. It was to be five storeys high and contain 25,000 sq ft of much needed office space in the area. (more…)

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33 Charlotte St acquired by Standard Life

Filed under: News — Tags: commercial property, Jones Lang LaSalle, knight frank, London office space, London offices, UK commercial property, w1 — Krista Harrison @ 12:03 pm

Standard Life Investments have recently announced their latest acquisition, 33 Charlotte Street, London, W1.

They have acquired the property on behalf of Standard Life Investments’ UK Property Fund, for a net figure of £19.10 million. They bought it from Capital & City Plc and the site comprises mainly of offices, as well as three restaurant units and some residential space. Purchase yield was 5.6%. (more…)

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