Experts in Central London Planning & Development
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Small Offices and Mixed Use in CAZ
Small Offices and Mixed Use in CAZ Prepared for The GLA 1 By RAMIDUS CONSULTING LIMITED August 2015 Small Offices and Mixed Use in CAZ Contents Page No. Management summary ii 1.0 Introduction 1 1.1 Project background 1.2 Project brief 1.3 Method statement 1.4 Acknowledgements 2.0 Context 6 2.1 Spatial planning 2.2 Commercial office market 2.3 Defining CAZ 2.4 Defining small offices 3.0 Drivers of change 15 3.1 Growth in self-employed businesses 3.2 Change in the occupier market 3.3 A changing business geography 3.4 Small offices and the flexible space market 3.5 Office-to-residential conversion activity 4.0 Occupied stock of small offices 27 4.1 Stock of offices 4.2 Spatial distribution of small units 4.3 The role of multi-let buildings 4.4 Small offices by sector 4.5 Summary 5.0 Trends in demand and supply of small offices 38 5.1 Take-up 5.2 Availability 5.3 Rents 5.4 Summary 6.0 Strategic and local implications of Policy 4.3Bc 48 6.1 Issues and policies for protecting small offices 6.2 Summary 7.0 Implementation of Policy 4.3Aa 53 7.1 Thresholds 7.2 The extent to which housing has been delivered 7.3 Land swaps or packages involving offices and housing 7.4 Mixed use housing credits 7.5 Analysis of development decisions 8.0 The impact of viability on development activity 61 8.1 Overview 8.2 Factors influencing development viability 8.3 Summary 9.0 Conclusions and recommendations 68 9.1 Context 9.2 Providing for small offices 9.3 The distribution of small offices 9.4 Policy issues 9.5 Policy recommendations Prepared for The GLA i By RAMIDUS CONSULTING LIMITED August 2015 Small Offices and Mixed Use in CAZ Management Summary This study examines London’s Central Activities Zone (CAZ) in terms of the supply of, and demand for, small offices and mixed use development, specifically the balance between office and residential development. -
REAL ESTATE July 2020
LISTED MARKETS – REAL ESTATE July 2020 Leo Zielinski Partner Tel. +44 (0)7980 809031 [email protected] John Rodgers Partner Tel. +44 (0)7810 307422 [email protected] Will Strachan Partner Tel. +44 (0)7929 885859 [email protected] Lloyd Davies We track the share price movement and regulatory announcements Partner of 57 real estate owning listed entities (“Gerald Eve tracked index”). Tel. +44 (0)7767 311254 A summary of the Gerald Eve tracked index in terms of GAV, NAV, [email protected] LTV, Dividend, Share Price, Market Cap, Discount/Premium to NAV and their respective weekly movement is attached. Lorenzo Solazzo Data Analyst We provide a comparison to share price data from 3 February 2020 Tel. +44 (0)783 309 5582 [email protected] (pre-Covid-19 level) to present day to demonstrate the impact across certain entities as a direct result of Covid-19. James Brown Surveyor As at 30 of June, the Gerald Eve tracked index is currently down 30% to pre- Tel. +44 (0)7464 656563 Covid-19 level, under-performing the FTSE350 which is slowly recovering and is [email protected] now down 16%. The tracked listed REITs share price decreased on average 3% since 1 June 2020 (March: -25%, April: +6%, May: -3%). To provide context around the share price movement, the average discount to NAV is currently 31% against 3% pre-Covid-19. It is unsurprising to note that specialist sector entities across Industrial, Healthcare and Supermarkets have out-performed the REIT universe relative to other strategies within the Gerald Eve tracked index. -
Consultation Statement Publication Draft (Regulation 19) Mixed Use Revision
Consultation Statement Publication Draft (Regulation 19) Mixed Use Revision Revision to Westminster's City Plan July 2015 1.0 Introduction 1.1 This Consultation Statement has been prepared to meet the requirements of Regulation 22 of the Town and Country Planning (Local Development) (England) Regulations 2012 (“The Regulations”), and forms part of the proposed submission documents. 1.2 The Statement details the consultation undertaken by Westminster City Council (‘the council’) during the Regulation 18 and informal consultations on the Mixed Use Revision to Westminster’s City Plan, referred to as the “Mixed Use Revision”. 1.3 It details who was consulted, for how long, and how they were invited to make representations. A summary of the main issues raised by the responses is provided, and details as to how these representations have been taken into account in the Publication Draft Mixed Use Revision subject to the Regulation 19 consultation. 1.4 Consultation was carried out in compliance with the council’s Statement of Community Involvement (SCI, adopted June 2014), thus meeting Section 19 of the Planning and Compulsory Purchase Act 2004 (as amended). 1.5 All contacts on the council’s LDF database were consulted, together with all specific consultees in accordance with the Regulations, all ward councillors, and all neighbouring boroughs. The council’s LDF database was created in April 2007 and was initially populated with contact information from the Unitary Development Plan (UDP) database. However it was significantly revised in 2013 to ensure all data was up‐to‐date. Since the creation of the database, consultee contact information has been updated on a continual basis, with contacts being added, removed or amended on request. -
A R Y 2 0 0 8 E D I T I O N
F E B R U A R Y 2 0 0 8 E D I T I O N UK Commercial Property Investment Transactions 1 Jan 2008 - 31 Jan 2008 Value of Sales Number £1,481m 73 CONTENTS Total Value of UK Investment Transactions (Year to Date January 2008) SECTOR LISTING........................................ 2 GEOGRAPHICAL LISTING...........................5 4,000 3,633 BUYERS & SELLERS LISTING....................9 3,500 3,161 THREE MONTH YIELD INDEX...................12 3,000 2,829 2,655 ACTIVE PROPERTY INVESTORS.............14 2,500 INVESTMENT STATISTICS.......................18 The monthly bulletin is available in hardcopy and 2,000 PDF formats for £395.00 pa (12 issues). 1,481 1,500 The next edition of the bulletin will be published on Monday 3rd March 2008. m £ Volume Transaction 1,000 This report is intended for general information and is based upon material in our possession or 500 supplied to us, which we believe to be reliable. Whilst every effort has been made to ensure its 0 accuracy and completeness we cannot offer any warranty that factual errors may not have 2004 2005 2006 2007 2008 occurred. Year to Date (Jan - Jan) For further information please visit our website: www.propertydata.com or call 01785 859300 Office Retail Industrial Leisure Other Total Copyright (c) 2008. Property Data Ltd. Year-to-Date Investor Breakdown 1 Jan 2008 - 31 Jan 2008 Institutions Property Co's Private Investor Overseas Other Purchases £m 41 376 218 725 120 Sales £m 660 182 30 205 404 Net Investment £m -619 194 188 520 -284 Year-to-Date Sector Breakdown 1 Jan 2008 - 31 Jan 2008 -
22 Bishopsgate London EC2N 4BQ Construction of A
Committee: Date: Planning and Transportation 28 February 2017 Subject: Public 22 Bishopsgate London EC2N 4BQ Construction of a building arranged on three basement floors, ground and 58 upper floors plus mezzanines and plant comprising floorspace for use within Classes A and B1 of the Use Classes Order and a publicly accessible viewing gallery and facilities (sui generis); hard and soft landscaping works; the provision of ancillary servicing and other works incidental to the development. (201,449sq.m. GEA) Ward: Lime Street For Decision Registered No: 16/01150/FULEIA Registered on: 24 November 2016 Conservation Area: St Helen's Place Listed Building: No Summary The planning application relates to the site of the 62 storey tower (294.94m AOD) granted planning permission in June 2016 and which is presently being constructed. The current scheme is for a tower comprising 59 storeys at ground and above (272.32m AOD) with an amended design to the top. The tapering of the upper storeys previously approved has been omitted and replaced by a flat topped lower tower. In other respects the design of the elevations remains as before. The applicants advise that the lowering of the tower in the new proposal is in response to construction management constraints in relation to aviation safeguarding issues. The planning application also incorporates amendments to the base of the building, the public realm and to cycle space provision which were proposed in a S73 amendment application and which your Committee resolved to grant on 28 November 2016, subject to a legal agreement but not yet issued. The building would provide offices, retail at ground level, a viewing gallery with free public access at levels 55 and 56 and a public restaurant and bar at levels 57 and 58. -
Title: the Future of Workplace in Vertical Cities: Hanging Gardens, Roof Terraces and Vertical Plazas Author: Stephan Reinke, Di
ctbuh.org/papers Title: The Future of Workplace in Vertical Cities: Hanging Gardens, Roof Terraces and Vertical Plazas Author: Stephan Reinke, Director, Stephan Reinke Architects Limited Subjects: Occupancy/Lifestyle/User Experience Social Issues Vertical Transportation Keywords: Green Walls Public Space Sky Garden Vertical Urbanism Workplace Publication Date: 2020 Original Publication: International Journal of High-Rise Buildings Volume 9 Number 1 Paper Type: 1. Book chapter/Part chapter 2. Journal paper 3. Conference proceeding 4. Unpublished conference paper 5. Magazine article 6. Unpublished © Council on Tall Buildings and Urban Habitat / Stephan Reinke International Journal of High-Rise Buildings International Journal of March 2020, Vol 9, No 1, 71-79 High-Rise Buildings https://doi.org/10.21022/IJHRB.2020.9.1.71 www.ctbuh-korea.org/ijhrb/index.php The Future of Workplace in Vertical Cities: Hanging Gardens, Roof Terraces and Vertical Plazas Stephan C. Reinke FAIA RIBA Director, Stephan Reinke Architects Level 02, 28 Margaret Street, London W1W 8RZ Abstract As the workplace evolves in our vertical cities, the need for “think spaces” and the public realm to meet, create and innovate will become integral to tall buildings. These people places are designed to address the social challenges and enhance the co- working environments which are emerging in the dense urban context of our future cities. The design of sky terraces and the “spaces between” offer a greener, more humane and smarter work environment for the future. The public realm should no longer be held down, fixed to the ground plane, but rather become part and parcel of the upper levels of our workplace centers. -
Unconventional & Pioneering A.K.A. London
UNCONVENTIONAL & PIONEERING A.K.A. LONDON Much like Ziggy Stardust ( A.K.A. D av i d Bowie) this ground breaking London landmark has many alter egos... From an iconic part of the City skyline to one of the most future focused addresses in which to locate a forward thinking business. IT’S TIME TO LOOK AT 30 ST. MARY AXE FROM A WHOLE NEW ANGLE. With options ranging from approx. 5,162 to 41,828 sq ft of world class, office space across 3 spectacular floors, this is also known as your next move. 007 A.K.A. James bond A NATIONAL TREASURE WITH STYLE AND MAGNITUDE The available office floors in this suave building offer dramatic Grade A specification workspaces that make a real statement. A.K.A. THE Gherkin 22 BISHOPSGATE THE LEADENHALL BUILDING SALESFORCE TOWER A.K.A. THE GHERKIN 52 Lime Street 100 BISHOPSGATE The Willis Building 70 St Mary Axe AN ICONIC PART OF THE LONDON CITY SKYLINE A.K.A. THE ULTIMATE COMPANY Imagine positioning your business as part of the London Skyline at an address that everybody knows. 30 St. Mary Axe is your opportunity to join a thriving and diverse community of game changers. Unrivalled WORKSPACE INSPIRING VIEWS AND ALL THE ON-SITE AMENITIES YOU CAN DREAM OF. AS SOME MIGHT SAY, A MORE ENERGISED AND PRODUCTIVE WORKFORCE. Reception CGI double height space Reception CGI available office floor Rum & Coke A.K.A. C u b a L i b r e A new twist on an old favourite Historically known as the Insurance District, the immediate area has since become a magnet for a more eclectic range of sectors, from technology to education and media to finance. -
Consultation Statement for SPD3
Consultation Statement Supplementary Planning Document SPD3: Parking Standards and Design February 2012 LOCAL DEVELOPMENT FRAMEWORK LOCAL Trafford LDF – SPD3: Parking Standards and Design Consultation Statement – February 2012 -1- Trafford LDF – SPD3: Parking Standards and Design Consultation Statement – February 2012 CONTENTS 1 Introduction ............................................................................................... 3 2 Statement of Community Involvement Review ......................................... 3 3 Public Consultation ................................................................................... 3 4 Inspecting the Scoping and Issues and SPD3: Parking Standards and Design consultation papers .............................................................................. 4 5 Representations on the Scoping and Issues SPD and the SPD3: Parking Standards and Design consultation papers ..................................................... 4 6 Consultation Responses and Main Issues ................................................ 5 7 Main Changes to the SPD ........................................................................ 5 8. Next Steps ................................................................................................ 7 Appendix 1 - Specific Consultees ................................................................. 8 Appendix 2 – General Consultees ................................................................ 9 Appendix 3 – Other Consultation Bodies ................................................... -
Investment Demand Continues to Recover
Economics Q4 2016: UK Commercial Property Market Survey Investment demand continues to recover • Investment enquiries rise across all sectors • Occupier demand flat for offices and retail, but the industrial sector continues to outperform • Expectations for rental and capital value growth slip back into negative territory in central London The Q4 2016 RICS UK Commercial Property Market Survey Contributors were also asked whether or not they expect to results show investment demand continuing to pick-up see businesses moving from the UK over the next two years. following the volatility reported around the time of the EU At the national level, 39% thought it was likely that relocation referendum. Trends on the occupier side of the market are would occur (up slightly from 33% back in Q3) while the somewhat flatter, with only the industrial sector seeing a rise majority continued to think otherwise. However, over 50% of in tenant demand during Q4. Meanwhile, sentiment remains respondents in Central London, Northern Ireland and Scotland more subdued across London, with respondents (at an do believe firms will choose to move at least some part of their aggregate level) expecting rents and capital values to weaken business activity away from Britain as a result of Brexit. a little further in the near term. Focussing on the investment market, demand continued to Starting with the occupier market, demand from tenants recover for a second straight quarter with growth in enquiries increased modestly at the all-sector level for the second gaining momentum during Q4. Furthermore, all sectors were consecutive quarter. However, according to the feedback, reported to have seen a pick-up in demand, albeit the rise this was once again driven entirely by the industrial segment was only modest in the retail sector. -
Access Guide Piccadilly Main Building Is Burlington House, London W1J 0BD on Piccadilly, Which Includes the Keeper’S House
Burlington House and Please note Keeper’s House The Royal Academy of Arts is Burlington House housed on two separate sites. Our Access Guide Piccadilly main building is Burlington House, London W1J 0BD on Piccadilly, which includes the Keeper’s House. Our other building, Burlington Gardens Burlington Gardens, is situated 6 Burlington Gardens directly behind Burlington House. London Currently, there is no direct access W1S 3ET between the two sites. To get from one site to the other, you need to General Enquiries: 020 7300 8000 use Old Bond Street, Sackville Street or Burlington Arcade which has General opening hours ramped access on request. 10am to 6pm Saturday–Thursday (last admission to galleries 5.30pm) Contact the Access Team To find out more about the RA’s 10am to 10pm Friday dedicated programmes and services (last admission to galleries 9.30pm) for disabled audiences, please visit our website or contact us: Opening times and access to the Website royalacademy.org.uk Keeper’s House and John Madejski Email [email protected] Fine Rooms do vary. Telephone 020 7300 5732 R BURLINGTON GARDEN E S G BU E OL SA N R T D L I CK NG S B Burlington T R ON T VI ON Gardens E E LLE T AR D ST CA ST D E Burlington House PICCADILLY ILLY S ICCAD T. P HA JA YM ME JERMYN STREET Green Park A S’ RK S ET ST REGISTERED CHARITY NUMBER 212798/DESIGN 01.02/ILLUSTRATIONS BY RUSSELL BELL/PRINTED BY TRADEWINDS/PHOTO BY ROY MATTHEWS, © ROYAL ACADEMY OF ARTS OF ACADEMY ROYAL © MATTHEWS, ROY BY TRADEWINDS/PHOTO BELL/PRINTEDBY RUSSELL BY 01.02/ILLUSTRATIONS -
High Streets & Town Centres Strategy (2017-2022)
Tower Hamlets High Streets & Town Centres Strategy 2017 - 2022 Contents Foreword by Mayor John Biggs…………………………………………………………....2 Introduction from Cabinet Member for Economic Growth & Skills ……….……………3 1. Executive Summary………...…………………………………………………….…4 2. Challenges & opportunities for high streets & town centres…………………….6 3. Linking with the Council’s corporate strategies……………..……………………8 4. Methodology to inform the development of the strategy………..……………..10 5. Proposed strategy for High Streets & Town Centres………..…………………11 6. Tracking and monitoring improvement plans…………..……………………….19 7. Reviewing Canary Wharf – a Major Centre……………………..………………21 8. Summary of review of high streets & town centres………………..…………...22 Appendices Appendix 1 – Ranking of performance indicators………..……………………………..51 Appendix 2 – Definition of rankings for town centre performance indicators..………52 Appendix 3 – Maps of 10 District Centres & 2 Destination High Streets………….....54 Tables Table 1 – Key characteristics of local street markets………………………..…………17 Table 2 – Summary of characteristics of key high streets……………………..………22 Table 3 – Environment and consumer experience…………………………………..…36 Table 4 – Overview of licensed premises…………………..…………………………...46 2 Foreword by Mayor John Biggs Tower Hamlets is a great place to do business. We have some of London’s highest profile businesses located in the City Fringe and Canary Wharf, over 16,000 small businesses and a business start-up rate twice that of London and one of the highest in the UK. Our high streets and town centres include some of London’s destination high streets that attract people across London and tourists into the borough including Columbia Road Flower Market, Brick Lane’s curry houses, Bethnal Green’s craft beer pubs and night life, Whitechapel’s growing transport and civic hub and the rich East End history linked to Chrisp Street and Roman Road. -
Central London Development Pipeline Q2 2017
Central London Development Pipeline Q2 2017 Development Completions - As at Q2 2017, there is 9.45m sq ft of available space under construction across Central London. 1.32 million sq ft of office space completed in Q2 2017, adding 710,000 sq ft of available office space to the market. - For future 2017 development completions, 49% of the space is prelet, rising to 55% for 2018. - 10% of space has been prelet for 2019 completions, the low figure being largely the result of the commencement of 22 Bishopsgate adding 1.275m sq ft of availability to the market. - Total take-up by prelets in Q2 2017 equalled 520,000 sq ft, 17 % of total take-up in the quarter. The largest prelet of the quarter was to WeWork at Two Southbank Place, taking 280,000 sq ft. In the third largest letting of the quarter, NEX took 120,000 sq ft at London Fruit & Wool Exchange. Development Pipeline - Completion Year Oversite developments 7,000,000 at Crossrail stations are 6,000,000 projected to begin 5,000,000 construction following 4,000,000 ticket office completion. Sq Ft 3,000,000 The oversite 2,000,000 developments are 1,000,000 projected to complete in 0 2020. 2017 2018 2019 2020 Available Office Sq Ft (NIA) Let Office Sq Ft (NIA) - The most active market is City Core with 7.98m sq ft of proposed office space under construction. City Fringe, Midtown and West End have 1.74m, 2.47m, & 1.70m sq ft of space under construction respectively. - The market with the highest percentage of prelets is Southbank with only 19% of under construction space still available.