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BAM to upgrade old government offices in London

BAM will upgrade former government offices in London.

A sustainable construction company has emerged with the contract for the London offices which used to belong to a department of the British Government.

BAM have won a contract which will see them refurbish the former offices of the Department for Environment, Food and Rural Affairs (Defra) for £23 million.

The official office address is 1 Page Street in Westminster and BAM will be working under the contractor who tendered the bid out, Derwent London.

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Canary Wharf secures funding for new offices

Filed under: News — Tags: Banks offer a development and investment loan to Canary Wharf Group, Canary Wharf office space funding, London Docklands regeneration project, London office space, London offices — Beth Hepple @ 9:45 am

Banks offer funding for Canary Wharf office space.

£190m put forward for a 23 storey construction at Churchill Place.

Funding has been provided by a selection of banks to construct new London offices at Canary Wharf.

Deutsche Pfandbriefbank AG, Barclays Bank, the Royal Bank of Scotland and Lloyds TSB have granted a £190m development and investment loan to Canary Wharf Group for the project at Canary Wharf, which will see construction begin at the last tower in the original London Docklands regeneration project. (more…)

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London office leasing remains strong

Filed under: News — Tags: London office space, London offices, office space, office space in the uk, office space London, prime office space — Kevin @ 2:31 pm

A real estate company has revealed figures that show the London office space market is still going strong.

Figures released by Cushman & Wakefield show that London office space leasing has defied the national decline in take-up.

Central London’s office space leasing sector enjoyed a strong third quarter, according to property consultant and real estate broker Cushman & Wakefield.

The firm claim that more than two million square feet of commercial space was leased in the West End, Docklands and the City, representing a fifty four per cent rise compared to the last quarter’s figures.

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Green construction project awarded to Skanska

Filed under: News — Tags: commercial office space, London offices, office space London, skanska — Kevin @ 8:00 am

Commercial property company Skanska will deliver 230,000 square foot of green office space in London.

The property deal by Skanska will see construction of a 16-storey building that aims to achieve BREEAM excellence.

Commercial real estate company Skanska has been awarded a construction project to build new office space at 6 Bevis Marks, in the EC3 area of the City of London.

The £50 million contract will see the construction of a 16-storey commercial building, that will hold 230,000 square foot of office space. The construction is due to start immediately with completion planned for the autumn of 2012.

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London sees a luxury house boom on hedge-fund row

Filed under: News — Tags: hedge fund row, London office space, London offices, Luxury house London — Kevin @ 8:00 am

No. 7 St. James’ Square could sell for more than £50 million after its renovation.

It’s hoped the new renovation by Green Property LTD will attract investors from India, the Middle East and the former Soviet Union.

An office building on the London Square with the world’s most expensive commercial lets will be converted into a nine-bedroom mansion it has been announced, as demand from international property buyers drives luxury-home values to record high levels.

No. 7 St. James’ Square, owned by Dublin-based company Green Property LTD, which was designed more than a century ago then converted to offices.

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Derwent’s £105m Old Street expansion plan clears planners

Filed under: News — Tags: Derwent London, London office space, London offices, Silicon Roundabout — Kevin @ 11:30 am

Derwent London have planning permission granted for their £105m expansion plan in Old Street, London.

The London-based company has gained approval for the £105m office development hub which will house 289,00 square feet of office space.

Derwent London has been granted planning permission for a 16-storey office block and associated developments by Old Street Roundabout in the City of London Borders.

The 289,000 square foot redevelopment of the City Road Estate site includes 271,000 square feet of office space, 10,000 square feet of retail and 8,000 square foot of private residential accommodation.

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London tops serviced office market poll

Filed under: News — Tags: London office space, London offices, Manchester offices, office space, world market — Kevin @ 9:00 am

London comes first in poll of the top 25 serviced office markets in the world.

Research reveals that London is the global market leader in serviced office space.

According to a new report revealed this week, London has come in at number one in a poll of the top 25 serviced office markets in the world.

Since 2008 the serviced office market has recorded an 18.5% rise in locations meaning there is more commercial property available for businesses.

Currently London has 414 business centres which generate £517 per workstation per month, whilst New York comes in 2nd place with just 103 centres generating £517 per month.

Paris has the most expensive office space on the world’s market with 100 centres at £949 per month.

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Landmark London office complete

Filed under: News — Tags: cannon place offices, Hines, London offices, office space — Kevin @ 10:00 am

The long-awaited real estate building located in Cannon Place, London is now ready for use.

The London office of international real estate company Hines is celebrating the completion of its new landmark development in Cannon Place.

The Hines building project is a joint development with Network Rail and London Underground and the construction holds 400,000 square feet of prime office space in the capital, together with 10,000 square feet of retail facilities. The commercial property also incorporates the re-development of Cannon Street station, which is situated below the office building.

The development partnership has been widely praised by the architecture industry, due to its innovative glass and steel design. Hines adopted complex techniques which have been used in the construction of the world’s major suspension bridges, to give the appearance of the building ‘floating’ above the underground station.

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Prince’s Foundation announce plans to consolidate London office space

Filed under: News — Tags: consolidation, London offices, Prince Charles, prince's foundation, prince's trust — Amy Edwards @ 9:41 am

As previously mentioned yesterday, the amount of office consolidation deals is on the rise and this is evident in the decision of the Prince’s Foundation to merge their London offices into a centralised property close to Kings Cross Station according to recent reports.

The Prince’s Foundation, which is made up of 20 different charities, currently has 21 offices altogether – six dotted around the UK and nine solely in London. These properties support an array of different areas such as Education, Business, Opportunity & Enterprise and Health.

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Rental growth in city of London set for recovery thanks to increased demand

Filed under: News — Tags: CB Richard ellis, commercial property market in London, Jones Lang LaSalle, London offices, rental growth — Amy Edwards @ 10:52 am

The level of rental growth in city of London offices appears to be on the road to recovery thanks to an increased demand for occupation within the financial sector, according to the latest Global Office Rental Cycle by CB Richard Ellis.

The report, which measures prime rents, vacancy rates and take-up levels across global markets, found that Middle East, Africa and Europe had gained strength in office rental potential.

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