Delivering the essentials, every day: In defence of the support services sector – and why not all firms are like Carillion February 6, 2018 Cleaning parliament, securing the perimeter fence at Britain’s atomic weapon’s establishment, feeding the nurses and doctors at the NHS’s busiest hospitals, repairing the telephone masts across our isle. These are all services provided by Mitie. We clean, protect, repair and care for the working and leisure environments that 5m people pass through every day. From [...]
Nick Jones’s Soho House primed for $2bn float on New York Stock Exchange February 4, 2018 Private members' club giant Soho House is plotting a $2bn (£1.4bn) float on the New York stock market. Founded by entrepreneur Nick Jones, the network of clubs, restaurants and workspaces has sites across the world, with recent additions including the City's new hotspot The Ned. The company has now hired bankers from JPMorgan and Goldman [...]
Mitie Group share price drops as it reveals another FRC investigation and announces drop in profit and revenue November 20, 2017 Mitie Group has revealed the accounting watchdog has opened another investigation into the group’s financial statements, as it unveils its first half results. The figures Revenue was up four per cent in the first half of 2017, from £922.6m to £959.7m. Operating profit dropped 38.1 per cent to £14.8m from £23.9m. Basic earnings per share [...]
London’s office market is “highly overvalued” and set for a correction, ratings agency Fitch says October 20, 2017 A leading ratings agency has said London’s overvalued office market is set for a correction next year due to Brexit uncertainty. Fitch Ratings said the core London office market had cooled since the Brexit vote last year, but it remains “highly overvalued”. “Tight office supply has supported prices to some extent, while sterling’s weakness has [...]
Co-working space startup Huckletree raises £4.5m in second fundraising round October 11, 2017 Co-working space startup Huckletree has announced a funding round of £4.5m with investment manager Meyer Bergman. Huckletree joins the London-based real estate investment group's portfolio alongside retail space marketplace Appear Here and app company POQ Commerce. The latest round of investment follows a £2.4m Series A fundraising in 2015, and will support the London based [...]
Businesses wasting $1.5 trillion on office space rent costs, says Philips Lighting during World Green Building Week September 25, 2017 Businesses around the world could save a total of $1.5 trillion (£1.11 trillion) in reduced office costs by using space more efficiently, according to analysis by Philips Lighting. Philips is calling for the renovation rate of offices in developed countries to double to three per cent a year. Refurbishing buildings to optimum standards would reduce [...]
The Shard skyscraper has won a new letting as Mitie moves offices September 12, 2017 The Shard, one of London's most iconic skyscrapers, today confirmed office lettings totaling 39,967 square feet. Outsourcing services firm Mitie Group will become the 31st business to move into the 310-metre-high Shard in the first quarter of 2018. The company has agreed a 15-year lease to take the entirety of level 12, which is 29,824 [...]
Airbnb isn’t monopolising the homestay market, it’s popularised it for a new generation of business travellers July 27, 2017 A recent report by PWC found that hotel companies and peer-to-peer home swapping platforms account for the second largest share, in terms of volume of activity, of the UK’s sharing economy. With the meteoric growth of Airbnb in particular, most people assume that traditional rental and aparthotel operators, like myself, are concerned about the impact [...]
WeWork snaps up 280,000 square feet of space in South Bank for setting up the largest co-working space in the world June 7, 2017 US shared office group WeWork has agreed to lease 280,000 square feet near Waterloo station to set up the world's largest co-working space. Owned by property giant Almacantar, the space at Two Southbank Place was let as part of London's largest leasing agreement this year so far. WeWork has 12 locations in the capital and [...]
Google’s new £1bn King’s Cross HQ: 11-storey building will boast a swimming pool, gym, games area and a rooftop cafe June 1, 2017 Google has submitted planning permission for its £1bn King’s Cross HQ that will boast jazzy features including swimming pools and sleep pods. Designed by Heatherwick Studio and Bjarke Ingels Group, construction on the 11-storey building will commence in 2018. Spread across more than 1m square feet of space, the campus will house 7,000 employees. This [...]