Category: Refurbishment (page 2 of 2)

Is Silicon Valley Style Office Design The Best Way To Attract Graduate Talent?

While architectural magazines are beginning to question playful office design, an article in the Guardian newspaper recently suggests that it is the best way to attract top graduate talent.

The article, Fun agency office design draws in the bright, young graduates, says that this may be the reason trendy media companies have the pick of the best talent out there because these graduates have come to expect relaxed environments full of toys and places to get away from the desk when a break is needed.

Not every business of course has the budget to start filling their offices with table football, slides and so on so it puts businesses that seem less cool in comparison at a distinct disadvantage recruitment-wise.

Companies such as Facebook, Bloomberg and of course Google are just a few of the trail blazers when it comes to fun office design, but in the UK outside of London, you may struggle to find many examples of firms incorporating playgrounds into offices.

There are plenty of business owners out there who would rather have their staff just get on with their work rather than preside over offices that can look like a youth clubs or kindergartens. But it’s the media companies who seem to be driving a good proportion of the innovation and growth in the UK economy.

Canary Wharf Offices Best For Rental Growth In 2016

If you happen to own offices in Canary Wharf, London, this year will be one of the best years yet for rental growth.

Canary Wharf in Central London is London has become a magnet for service sector businesses in recent years. So much so that it will have the best rental growth in the city this year at 12.8% which puts it ahead of nearest rivals Shoreditch 10% and Midtown 9.6%.

Despite the increase in demand for offices in Canary Wharf, it still remains an affordable alternative to Central London. Excellent connections to the city centre via Crossrail have raised its appeal even further.

The increasing number of tech and creative firms setting up in the capital will be the key drivers of growth in 2016 according to the Knight Frank report. In fact the technology sector has been the largest source of demand for office space in the capital for the past 5 years.

While rising rents and increased demand will be good news for owners who let office space, those seeking more affordable offices may be forced to move further out. Vacancy rates are currently at their lowest level for nearly 14 years. In the West End of London, the vacancy rate is at its lowest level since 1989.

An Office With No Walls Or Doors?

How would you like to be sitting in an office where you can see everything the boss is doing? This is the case with US banking giant Citigroup which is not just opening the doors to a new HQ but removing them altogether!

The bank is about to take the open office a stage further with its no-door design according to the Wall Street Journal. While open offices are more in line with what you might expect from the likes of Google and other trendy creative firms, this marks a significant departure for the more sober world of banking (though some might argue that creativity is alive and well in banking for better or for worse).

CEO of Citigroup, Michael Corbat, will swap his current 600-square-foot office for a 360-square-foot office which doesn’t have walls or a door. How is this possible? Well the walls are replaced with 7ft glass panels.

Desks in the office won’t be assigned either which might freak out anyone who likes to make desk space their own.

With the current trend now moving towards a mix of spaces which people can make their own and also areas to collaborate, this extreme open-plan idea is pushing things in the wrong direction but maybe bankers will be happier keeping an eye on each other through the working day.

Central London Office Conversions More Likely To Be For Housing

Commercial landlords are growing increasingly alarmed at the number of offices being converted to residential housing. Many have attacked the government’s policy on housing in Central London, which appears to be at odds with the need for more rather than less office space in the capital.

Apparently large areas of central London are being turned over to the housing sector as property prices continue to soar and residential property becomes more lucrative for developers.

Westminster for example has lost a total of 4.4 million sq ft of commercial office space in recent years. Commercial landlords fear that the lack of office space could put a lid on economic growth in the capital with businesses forced to look outside central areas for available space.

If the mass conversion of offices into residential property continues, it is almost certain to put the government on a collision course with business groups while in the longer term it will do little to solve the housing shortage in the capital.

The UK population and that of London continues to rise and this will only put further pressure on the availability of land for development. There are calls for central London to be treated differently to the rest of the country when it comes to planning to ensure that the correct balance is struck between commercial and residential buildings.

Supermarket Warehouses Worth More Than Their Stores

The big supermarkets may well be axing many of their high street convenience stores due to a combination of high costs and low profits, but the supermarket warehouse boom is continuing and attracting the attention of commercial property investors in the process.

According to the Financial Times recently, customers are increasingly shopping online and this is what is driving demand for large warehouse spaces from supermarkets such as Tesco, Morrisons, Sainsbury’s and Aldi.

Online sales are currently growing at 12% a year and although they still account for only 12% of spending, the convenience of online shopping is likely to see online sales rival those of supermarkets in the years to come. It may also bring an end to the traditional weekly shop. People may be more likely to gather round a tablet or desktop computer to shop rather than venture out in the car.

The expansion of warehousing may be halted temporarily by the lack of space to build and a shortage of available units. This may well act to push up the prices of warehouses across the UK and land that is suitable for the purpose.

Investors are likely to find the prospect of high demand now and in the future a good reason to put more money into what was previously seen as an unglamorous and low yield investment.

The Return of The Urban Warehouse

Just when you thought they had been consigned to history, warehouses in the city are once again seeing a rise in demand as online retailers are pressured into delivering next day and on time.

Far from spelling the end of the out of town super warehouse, the new breed of smaller urban warehouses will be an important step on the journey a product takes to get to the purchaser’s address.

Even with today’s sophisticated storage and delivery technology, it is still a stretch for companies to be able to deliver at specific times without any delays. So having an urban warehouse on the spot where goods can be quickly transferred in the locality will speed things up a lot.

Amazon once again are the ones blazing a trail in recent years when they introduced a small network of warehouses to London in 2013 and there are plans for further expansion in US cities to go with the 19 urban warehouses it already has.

The move towards urban warehouses is sure to make an interesting investment proposition as land prices are already sky high in cities like London. It may also put pressure on the development of residential property, which ironically has benefitted from the conversion of old 19th Century warehouses into trendy loft apartments.

A Right Royal Refurb – Part II!

Having spent over £1million on refurbishing their Kensington Palace home, the Duke and Duchess of Cambridge are said to be embarking on another programme of decoration because Duchess Kate is now said to be unhappy with the colour scheme she planned for the royal residence whilst pregnant with Prince George.

It’s been reported that William and Kate have now entrusted the new decorative scheme for their 20-room apartment to urban designer and architect Ben Pentreath. Best known for his classical designs, Pentreath cites Sir Terence Conran and the late decorator/designer David Hicks as his inspiration. “[Hicks] was a traditionalist, but never boring. I love his crazy use of colour that underlies his classicism. We’re a bit timid with interiors today” Pentreath has said.

Counting the late Princess Diana as a former client, Pentreath has also been asked to help revamp the Cambridge’s country home, Anmer Hall, on the Queen’s Sandringham estate.

It’s said that Kate is blaming the first disastrous decorative scheme on her pregnancy hormones.

At Millennium SI we aim to get things right first time, every time! We’re experts in office refurbishment and new builds, creative office space planning and the sound design of office interiors. Our concept-to-completion service includes taking a detailed brief to fully understand and meet your requirements. Then we’ll work closely with you to enhance your workspace with the right flooring, décor and furniture [standard or bespoke] to make your office interior truly reflect your business and employee needs.

You might not have a right royal budget, but we’re dedicated to ensuring that your office space is a real crowning glory!

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