Shares in property firms continue to tumble as Bank of America warns WFH here to stay June 30, 2022 Selling pressure has mounted after American investment titan Bank of America warned that “real estate’s glory days are numbered”. A major concern for the bank was that “working from home and hybrid working are here to stay”, adding in its research note: “Recession will likely lead office occupancy and market rental values to decline and [...]
Sirius Real Estate more than doubles rent roll in £380m UK push June 13, 2022 Industrial park and flexible workspace provider Sirius Real Estate has more than doubled its rent roll over the past year, as it continues to push into the UK’s hot property market. Rental income has surged over 73 per cent to €167m in the year to 31 March, up from €96.5m a year prior. Sirius put [...]
Customer demand drives post-lockdown rebound for office giant Workspace June 8, 2022 Workspace Group has revealed customer demand for its services has returned to pre-Covid levels, in a vote of confidence for City working.
Exclusive: Co-working firm Second Home launches sale process amid battle for rescue cash June 6, 2022 Shared office firm Second Home has started scouting for a buyer in parallel with efforts to secure rescue cash, CityA.M. understands. The workspace provider has launched a sale process after administrators from FRP Advisory were called in to help fend off insolvency. Headed by a former aide to ex-Prime Minister David Cameron, Rohan Silva, Second [...]
All hail the Elizabeth line: Canary Wharf turns purple to celebrate opening May 24, 2022 Canary Wharf is turning purple to celebrate today’s opening of the Elizabeth line. The financial district is lighting up its most iconic buildings, including One Canada Square and Jubilee Park, as well as Crossrail Place Roof Garden. Shops around the wharf will join in the celebrations, with several restaurants introducing new purple cocktails and shops [...]
TfL looks for investment partners to take up office space at Bank, Southwark and Paddington stations May 20, 2022 Transport for London is looking for an investment partner to work on commercial developments at the sites of Bank, Paddington and Southwark stations. In a bid to reduce its reliance on fares for income, TFL is looking to offer commercial office space at the stations which could generate significant revenue. All three sites have either [...]
Office workers can now use local Tesco to work from as supermarket giant joins forces with IWG May 12, 2022 Office workers across the UK will soon be able to use their local Tesco to work from as the supermarket group launches a new partnership with IWG. Tesco has said the flexible workspace business will convert excess space at its supermarket stores into office space designed for hybrid working. It comes amid the continued shift [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
Exclusive: Salesforce chief says tech firm’s City of London offices are amongst the fullest worldwide April 21, 2022 Salesforce’s London offices are now fuller than almost all of its other offices worldwide, Salesforce’s UK & Ireland head has said to City A.M. Speaking exclusively to this paper, Salesforce UK & Ireland CEO Zahra Bahrololoumi said “Salesforce thrives in city centres,” as she explained the firm is now working to upgrade its offices in [...]
150-year-old Hackney church to be turned into workspaces April 11, 2022 The 150-year-old St Michael & All Angels Church in Hackney is to be turned into workspaces, as London’s offices fall further away from tradition post-pandemic. Boutique developer Aitch Group and property investor VFund have entered a joint venture to restore and develop the Grade I listed building, which is one of just six left [...]