Commercial Property

weworkWhen your office becomes the platform

It was a symbolic moment for both the commercial property and retail sectors, and a bold statement from a company reinventing the way people work. Last month, the Lord & Taylor Building, a New York landmark on Fifth Avenue in Manhattan, a “676,000-square-foot temple of urban commerce”, as The New York Times described it, was sold to WeWork Property Advisers, a joint venture between WeWork and the Rhone Group, for $850m.

Engineering the future

Over the next ten years, we will see a number of key trends influence the design and quality of the built environment. Most of these changes will enhance our lives and improve productivity. But it is necessary, also, to sound notes of caution on how these are implemented to make sure people’s needs aren’t compromised by the disruptions we face.

On the cusp of a tech revolution

A new generation of property technology companies, or proptech as they’re coming to be known, are emerging across the country. One by one, their technologies will change commercial property for the better, whether it’s how much office space a business leases, how a clinic manages its rooms, or enabling automated control of buildings.

Clyde Gateway, the home of business

“Its combination of location, minutes from Glasgow city centre with easy access to the motorway and three train stations, its technical specification, with Grade A office space and gigabit bandwidth, and – at around a third of the cost of the city centre – its value,” said Fionna Kell, “is very compelling.”

FutureScot is delighted to announce BIM & Digital Transformation Scotland 2018 – Towards a Digital Built Scotland, a full-day conference examining Scotland’s ‘digital revolution’ for the built environment. Join the conversation at #BIMScot2018, and join us at Strathclyde University Technology and Innovation Centre, Glasgow, on 7 February 2018.

Glasgow’s newest business district takes shape

Work is well underway at Magenta, Glasgow’s new satellite business district. Comprising 1.2 million square feet, Magenta will become one of the UK’s largest business parks. It is positioned on 27 acres, next to the River Clyde and M74 motorway network and just two miles from Glasgow’s city centre and 15 minutes from Glasgow Airport.

Conservation’s solution for 21st Century challenges

Scotland’s identity is closely linked to its historic buildings, ranking in the Nation Brands Index 12 out of 50 nations for its reputation of being rich in cultural heritage. The historic environment is also very important for Scottish economy and society: according to the 2016 Scotland’s Historic Environment Audit it contributes in excess of £2.3 billion to Scotland’s economy and it is good for our health and well-being.

Flexibility, dynamism, and wellbeing

There is a polarisation in office space provision, according to Jonathan Steel, Joint Head of Real Estate Occupier Solutions at BNP Paribas Real Estate. “Flexibility and agility is key,” said Steel. “there is uncertainty around markets and the required headcount to service a business. There has been a move over the years to leasehold rather than freehold and we have seen a reduction in the average length of leaseholds. And, more recently, there has been a rapid expansion in serviced offices.”

Business rates call amid fall in sales

Analysis conducted by the Scottish Property Federation on the most commercial property sales figures July to September) 2017 shows that the total value of commercial property transactions in Scotland fell for the third quarter in a row.

Download Commercial Property in The Times Scotland, 30 November.