Redrow anticipates turnover to drop by more than a third June 30, 2020 Housebuilder Redrow expects turnover to drop more than a third this year, as the closure of its sites during lockdown had a “profound” impact on business. The figures In a trading update for the year ended 28 June, Redrow said turnover is expected to fall from £2.11bn last year to £1.34bn. The group’s completions also [...]
Exclusive: Westminster denies firms business rates relief for empty offices during lockdown June 17, 2020 Central London companies whose staff abandoned offices to work remotely during the coronavirus lockdown have been refused business rates relief, City A.M. can reveal. Westminster City Council has refused to grant the relief to office-based businesses such as accountants, law firms, and consultancies despite their workspaces remaining empty over the period. The move has sparked [...]
Shaftesbury swings to £287m first half loss as coronavirus hits property value June 10, 2020 West End landlord Shaftesbury has swung to a £287m first half loss, as the value of its estate plummeted in the wake of the coronavirus crisis. The company, which has a portfolio of restaurants, pubs, shops, and workspaces in central London, said that the store closures brought about by the nationwide lockdown had affected tenants’ [...]
Regus owner IWG targets £315m fundraise to drive expansion after coronavirus May 27, 2020 Office space giant IWG is aiming to raise £315m through a share offering as it eyes expansion opportunities as rival firms struggle during the coronavirus pandemic. IWG, which owns Regus, said “the current environment is presenting an increased number of attractive…opportunities to accelerate the growth and development of the business”. The office provider said sales [...]
Debate: Does the home-working trend caused by coronavirus herald the death of the office? March 24, 2020 As the world gets used to home-working, City A.M. asks whether this means the end for traditional office spaces. Yes – Andrew Johnson, managing director at PowWowNow With millions of people having to work from home worldwide, the future of the office as we know it will be transformed. Companies will have the technology, policies [...]
Workplace: a key driver of business growth March 20, 2020 For organisations that dream of emulating Silicon Valley’s success stories, growth is the main goal. However, many senior managers underestimate the importance of bringing an organisation’s strategy into the physical realm of the workplace. Theoretically, it is well known that an organisation’s people – both its employees and clients – technology and operations are key [...]
Interiors: Working from home? Here’s four tips to make it a bit more bearable March 20, 2020 Unless you’re a nurse, a checkout assistant or a delivery driver, chances are you’re going to be working from home for a while. For those who don’t have a home office set up already, this brave new world of endless conference calls in your living room is going to take some getting used to – [...]
Barclays Canary Wharf worker tests positive for coronavirus March 11, 2020 A worker in Barclays Canary Wharf offices has tested positive for coronavirus, the bank confirmed today. In a statement, Barclays said: “We can confirm that a member of our staff based in our London office, five North Colonnade, has tested as positive for covid-19 today. The health and safety of our staff, customers and clients [...]
City Moves for 25 February – Who’s switching jobs at WorldRemit, Workspace and Hines? February 25, 2020 Today’s City Moves includes WorldRemit, Workspace and Hines WorldRemit Mobile payments company WorldRemit has appointed Ian Cafferky as chief marketing officer. Ian joins from O2 where he was responsible for brand and marketing communications, leading the O2 brand to Marketing Society UK Brand of the Year in 2015. He began his career as a strategy [...]
Why your gloomy office is holding you back: the case for better workplace design February 24, 2020 Whatever industry you’re in, most companies will tell you that their biggest cost is talent. That’s why the prediction that stress-related illnesses will be the main cause of sickness in 2020, accounting for 44 per cent of all work-related absences, should be a big concern. One source of this stress is technology, which has altered [...]