Chiswick Business Park

Posted on July 29, 2013

People in a business meetingChiswick Park is a sprawling business park with a variety of amenities and state-of-the-art facilities. The environmentally sustainable site provides excellent transportation and public transit connections for visitors and workers, as well as a welcoming environment to work, relax, and do business. Between 2007 and 2011, Chiswick Park was named as one of the top 50 places to work by the Financial Times.

About Chiswick Park

Several high-profile companies have chosen Chiswick Park as the site of their UK, European and International operations and headquarters. The Park is home to over 40 businesses and organisations, including some of the world’s most profitable and innovative firms. When completed, 12,000 people will work and enjoy Chiswick Park on any given day. Firms at the purpose-built business park represent a range of sectors, including finance, publishing, media and entertainment, information technology and communications, and natural resource development. Tenants include Aker Solutions, CBS News, Discovery Communications, Financial Insurance Group, Foxtons, Paramount Pictures International, Qualcomm, QVC, Regus, Singapore Airlines, Starbucks, The Walt Disney Company, and Vue Entertainment.

Facilities and Amenities

The pedestrian-friendly Chiswick Park includes 10 completed and two planned buildings, ranging in size from 81,000 square feet (7,525 square metres) to 332,400 square feet (30,880 square metres). Facilities include controlled car parking, 24-hour CCTV monitoring and security, and an on-site co-hosting and telecommunications partner. The Park also features on-site data and co-hosting centres, access to leading telecommunications providers and a consultancy for advice and assistance, and on-site building support and maintenance.

The Park offers a variety of shared services and spaces, including parks, cafes and restaurants where employees and visitors can relax, network and meet, and do business. On-site restaurants and shops include WHSmith, Starbucks, Union Bar, and Source. Landscaped parkland and public space include a feature lake, a large multi-purpose events piazza, a waterfall, dedicated cycle and pedestrian paths, and a boardwalk. Additional amenities include a 42,000 square foot Virgin Active health and fitness club, beautician and hairdressers, dance studios, and an inter-company league for sports enthusiasts working at the Park.

Chiswick Park also offers environmentally sustainable facilities. Water-saving features and sustainable washrooms, as well as the use of rainwater helps minimise the site’s dependence on public utilities. The Park also aims to recycle 90% of its waste, and offers habits for a range of wildlife, from amphibians to birds and fish. Energy for the low-emission and low-carbon business park is also sourced from only renewable sources.

Transportation

Chiswick Park is located within five miles of Central London. With the Chiswick roundabout less than a half a mile away, Chiswick Park is easily accessible to the M4 motorway, the A4 road, and the North and South circulars. The business park is also eight miles from Heathrow Airport, which offers convenient national, European and international flight connections. Three other international airports, including Gatwick Airport, can be reached from the Park within an hour’s drive. Central London is under 20 minutes away by car or under 40 minutes by tube.

The Park is well connected to a number of public transport options. Gunnersbury station is a two minute walk from the business park, which provides London Overground connections. A number of London Underground stations are also within walking distance of the Park, including Gunnersbury and Chiswick Park stations for the District Line, and Acton Town station for both the District and Piccadilly lines. Several bus services also operate from Bollo Lane and Chiswick High Street.

Tagged ,

Langstone Business Park

Posted on July 12, 2013

Langstone Business Park is a purpose-built site located near Newport, Wales. At the heart of the business park is a modern business centre with attractive amenities, including a Japanese garden. Offices have state-of-the-art technology, including modern communications technology and air conditioning. Businesses and organisations at Langstone represent various sectors, including printing and publishing, financial and insurance services, and property development and legal services.

About the Langstone Business Park

Langstone Business Park is a collection modern detached office buildings just north of the M4 motorway in Newport. The £20m business park scheme includes 85,000 square feet of floor space, providing employment for over 1,000 people. Flexible office space and lease terms are offered to tenants located at the park. Businesses at the park include Rombourne Business Centres, Admiral Insurance, Henry Howard Finance, M4 Property Consultants, RDP Law, NFU Mutual, and the PCF Company.

Facilities and Amenities

Langstone Business Park features a range of convenient amenities. Langstone is situated next to the Hilton Hotel and is close to a Premier Inn. Non-branded offices are available with administrative support and free on-site car parking. Modern amenities include meeting rooms, café and kitchen facilities, toilets with showers, 24-hour access and security, and conference facilities. All equipment needed for meetings and conferences is also available, including AV equipment, catering and videoconference technology. The business park also provides high-speed broadband Internet service and IT support.

Location and Transportation Links

The easily accessible Langstone Business Park is found off Junction 24 of the M4 motorway, which links South Wales with Greater London and Heathrow Airport. Cardiff, the capital of Wales and the nation’s largest city, is 15 miles west of the business park. An international airport with flights throughout Europe and beyond is also located in Cardiff. In addition to excellent road and motorway access, Langstone is just a 5-minute drive (4 miles) from Newport railway station. From Newport, regular rail service is available to London’s Paddington station. A bus service is also available within walking distance of the park, providing quick connections to Newport’s city centre.

Tagged , ,

Higher Education and Construction Activity in 2013

Posted on July 5, 2013

architectural drawingsLarge-Scale Construction Activity Set to Continue in the Education Sector in 2013

Deloitte’s annual real estate predications report for 2013 shows that the Higher Education sector is currently one of the biggest drivers for the UK’s construction activities. There have been high levels of activity and investment within this sector in recent years, and 2013 looks set to be an even bigger year. This is the result of a number of key factors, and each factor shows no sign of slowing down.

Many universities slowed down their construction activities in 2012 to protect themselves against the ‘Olympic Effect’ on construction tender prices. As such any pre-Olympic activities that were postponed would have since been resumed. This is only one reason for growth in 2013, and by no means the most significant.

The effects of the UK recession have been felt in every area of construction, though one area of the market that has consistently flown in the face of the recession has been the Higher Education sector. Previously intense, both national and international demand has increased even further, and with the increase of higher education fees, colleges and universities are under increasing pressure to provide the best facilities, the best housing and the best educational experience. Expected to shell-out £5,000 – £9,000 each year, it is absolutely no surprise to see students expecting more from their institutions; for both education and lifestyle.

London is the seat of much activity in this sector and there are a big number of academic institutions in talks over large real estate strategies. Away from the City, large institutions such as the University of Manchester, Manchester Metropolitan University and Aston University are involved with major construction schemes.

Much of the funding for these construction schemes has come from the taxpayer, which is a result of the coalition’s aim to support institutions that are promoting economic growth or have the potential to do so. In late 2012 the government’s declaration was to provide support for the development of new technologies such as energy storage, Big Data, advanced materials and synthetic biology to increase the UK’s competitive advantage. This support includes the UK Research Partnership Development Fund 2012-15, which has already delivered £300m into universities that focus on research; primarily Russell Group universities.

In accordance with the increasing aim of providing the best ‘student experience’, increased activity within student accommodation has also emerged. This aim, alongside increasing demand and high shortages of purpose-built accommodation, is leading to a healthy investment appetite. Specifically, private investment is becoming an increasingly dominant force, as this is a potential source of non-public sector capital and allows institutions to hand over the responsibility of housing management to specialist private businesses. Private investment schemes for university accommodation are coming with a large number of deal structures tailored to the level of control the institution wants and the amount of capital it needs.

Not every institution is feeling the benefit of extensive public and private investment, and many are under pressure to reduce costs. However, with the predicted increase in land values, many of these institutions are planning strategically to ensure future prosperity with the development of promising planning permissions and the construction of new facilities to free up land elsewhere.

The UK Research Partnership Development Fund will continue to fund research-focused universities until 2015. Across the board there will be continuing efforts to improve the student experience, and as very significant part of this, student housing will remain an increasingly attractive prospect for investors. Accordingly we can expect to see increasing activity for all areas of construction within the Higher Education sector in 2013.

Tagged ,

Over £20 Billion in Foreign Investment in UK Real Estate in 2013

Posted on June 28, 2013

Deloitte have recently published their annual publication ‘UK real estate predictions’ for 2013, and one of the most interesting foresight’s is the expansion of UK property investment by foreign interests. It is calculated that £20 billion in overseas investment was spent within the UK real estate market in 2012, and with the ongoing expansion of investment by existing investors, new investors, and a fast-growing pool of foreign capital, investment is expected to be higher than this figure for 2013.

Over the last few years, one of the most significant trends in real estate (property and construction) has been the large amount of capital investment coming into the UK real estate market from abroad. Foreign investment into the UK is nothing new, – a quarter of London’s property market was owned by foreign investors in the mid-90s – but things have evolved rapidly since then. The pool of capital from foreign investors is now much deeper than previously, many novice investors are making their first purchases, and many new foreign institutions have begun to expose themselves to the UK real estate market.

One of the major driving forces behind the increased investment activity has been the widespread establishment of pensions and insurance savings in developed and developing nations and emerging markets around the world. London real estate is associated with stability and good ROI, and this is marrying well with the desire of foreign institutions to gain bond-like assets that produce stable levels of income. With the recovery of commodity prices following the financial crisis, many new markets are emerging with the means to invest. It is reported that an extensive number of foreign institutions are planning to invest in 2013.

Though the wealth of many nations is variable and often lower than nations such as the UK, the size of their respective populations is resulting in funds that are more than large enough to invest. In many cases the scale of these funds is almost impossible to overestimate, and this coupled with the need for security and stability, levels of interest are remaining high and are unlikely to fall. Even in small and medium sized countries like South Korea and Malaysia, the need for pension funds for the diversification of investment portfolios is having a very significant affect on the UK real estate investment landscape.

Another trend is the expansion of relatively new funds. Funds which were new to the UK but a few years ago have now acquired the experience to push for higher returns away from the prime London property markets. As such, activity in regional areas is predicted to increase in 2013, as well are the amount of joint ventures between foreign investors and local funds managing the assets. More adventurous entities are likely to be attracted to development opportunities, perhaps partnering with UK funds or developers.

Investment has certainly not been limited to the commercial property market, and all signs point to increased investment in the residential market also. Strength in the international demand for high-value residential real property remains, though a recent and interesting trend shows emerging countries expanding their investment horizons and looking to affordable residential property situated in Greater London and further afield. Much of this is a result of the growing number of families with good levels of income in emerging countries. Such families are happy to see their public institutions diversify outside of local regions into ‘safe haven’ investment areas.

To conclude, the foreign demand for UK property, both residential and commercial, in London and outside, is continuing to support the UK property market and is very-much expected to exceed the investment levels of 2012.

Read more about commercial property and real estate in the UK.

Tagged ,

The Office Building of the Future is Born in 2013

Posted on June 21, 2013

Office Trends are Changing in 2013

In the recent publication “UK Real Estate Predictions 2013”, Deloitte has analysed the current state of the UK real estate market, including the state of new office builds. The findings suggest that, apart from in the Capital, office values are currently lower than build costs. Given the many issues causing this lack of development, one of the only potentially effective solutions suggested would be to reduce building specifications – and technology may be the key to making this work.

Deloitte’s recent development report ‘London Office Crane Survey’ demonstrates the strength of office development in London, though in contrast, there is very little indication of construction activity across the rest of the UK. There is a very clear reason for this – high office values in London make construction economically viable, whereas lower office values across the rest of the UK don’t. Increasing office values and falling construction costs would both help to address this problem, though it is not thought that rising values would be enough in the short-term to make any real difference, and given the current state of the construction industry there is not a great deal of room for gaining any useful savings. As such, there is little benefit in focusing on value or construction costs to increase the viability of new office buildings.

Another solution is to reduce building specifications, and thanks to technological advances – some related to construction and some not – this solution looks much more promising. For regional locations, the only effective way to create viable office developments is to reduce construction costs, and the only effective way to reduce construction costs is to reduce building specifications and requirements. Technology is a prime enabler here.

Over the last three decades, many new consumer and commercial technologies have been introduced, and while many of them have resulted in office buildings that are more advanced than ever before, key technologies like mobile computing, Wi-Fi and cloud computing are facilitating the redundancy of built-in IT infrastructures. The elimination of such infrastructures from building requirements is an easy way to cut costs, and with other technology resulting in less required space for each employee, the size of real estate can be significantly reduced.

Modern working culture can also play its part in increasing the viability of new office constructions outside of the City. The evolution of modern working practices, brought on by technology and shifting working attitudes, is helping very much with the viability agenda. Remote working, activity-based working and ‘bring your own device’ programs are becoming more widespread, reducing the layout of offices and the amount of office space needed. In comparison to only a decade ago, many businesses are able to run with the same level of efficiency and productivity for a much smaller technological outlay and a smaller real estate investment.

It is important for business owners to recognise these changes and not let themselves stay stuck in the past. If businesses are able to throw away the established preconceptions of what a good office space is supposed to be, they will gain much higher viability for their office build. For such businesses struggling to make their build viable, now would be the time to throw away thoughts of open-plan, spacious working areas, unnecessary conference and seminar rooms and expensive IT, network and cooling systems, and start thinking about how new technology and the new, flexible working practices of today can help them acquire a great office space with much lower rental and running costs. Pushing for lower office specifications is now a smart move for many types of business.

Tagged ,

Focus on: Business in Slough

Posted on June 7, 2013

Slough is an important business centre located in the county of Berkshire, in the Thames Valley region, twenty two miles from Central London. Slough benefits from excellent motorway links and close proximity to Heathrow International Airport, making one of the strongest areas for businesses to be based in the UK. Key industries in the economy of Slough include business services, health and education, manufacturing, communications, distribution, wholesale and transportation.

Slough Trading Estate is home to hundreds of major companies including Mars, Incorporated, Nintendo, and Amazon.co.uk. Other key businesses opting to open offices in Slough are Dulux, Furniture Village and Black and Decker.

The Heart of Slough Project, due for completion in 2018, is a £400 million project aimed at large scale redevelopment of Slough town centre. This project is focused on a cultural quarter for information technology, communications and creative media industries.

Read more »

Tagged , ,

Globe Business Park

Posted on May 31, 2013

people talking in the officeA market town in South Buckinghamshire, Marlow is a popular tourist destination during summer months. First developed in the mid-1980s, Globe Business Park is the largest and most established business park in the town. It is also a major employer and key economic driver for Marlow and Wycombe District.

About Globe Business Park

Also known as simply Globe Park, the business park has approximately 1,000,000 square feet of office space. Businesses at the site employ an estimated 3,000 people. Stretching from Station Road to the west and the A404 to the east, Globe Business Park sits north of Parkway, the main route across the estate. The site contains 20 large office buildings, including newer buildings completed in the early 2000s at adjacent Globeside Business Park. The business park also features additional light industry units.

Facilities and Amenities

Read more »

Tagged , ,

Business Opportunities in Newbury

Posted on May 22, 2013

The town of Newbury is situated in Berkshire, in the Thames Valley region, on the picturesque River Kennet. Newbury is the administrative centre of the unitary authority of West Berkshire and is famous as the home of Newbury Racecourse. A host of companies have chosen to open head offices in Newbury, including Vodafone, Bayer AG, Quantel and Micro Focus.

Newbury Town Council , represented by twenty three Town Counsellors, provides advice and information for both residents and businesses in Newbury. The town is divided into seven wards, Pyle Hill, St Johns, Clay Hill, Victoria, Brummel Grove, Northcroft and Falkland.

The Newbury Business Group offers business owners and entrepreneurs in Newbury the chance to make connections, network with like minded individuals, create business opportunities, develop relationships and organise meetings.

Read more »

Tagged , ,

A Closer look at Belmont Business Park

Posted on April 30, 2013

People chatting in an officeSituated outside Durham in Northern England, Belmont Business Park is approximately 25 minutes south of Newcastle upon Tyne. The 11-acre business park features flexible business and office space for tenants in a range of sectors, including IT, government, training and education, financial services, and legal. Businesses and organisations located at Belmont include Bedeplc, Capita, the Home Housing Association, Indigo Software, Waterstons, Birks Sinclair, the British Red Cross, and the Regional Learning and Skills Council.

.
About Belmont Business Park

Belmont Business Park was developed by Helios (Belmont) Ltd and Whelan Construction. The eleven building site is found within the Belmont Industrial Estate and is one of the largest business parks in the North East. Belmont is accessible by the primary estate road and is bordered by an inner security fence, offering a secure work environment for tenants and their employees. The site features on-site parking, state-of-the-art IT and communications systems, CCTV monitoring and 24-hour access, and high-speed broadband service. Pedestrian paths provide access to a range of local amenities, including a post office and a supermarket. Additional off-site amenities include a fitness centre, hotel, and retail services.

Read more »

Tagged ,

A Legal Insight into Renting Commercial Property

Posted on April 22, 2013

The following guest post has been contributed to Prime Office Space by a third party. We are pleased to present this informative post but take no responsibility for its contents. Please contact the author (see below) if you would like any further details about the information discussed in this article.

A Legal Insight into Renting Commercial Property

Commercial premises are one of the foundations for a successful business and likely to be one of your main costs. The law touches on all aspects of commercial property rentals, and getting things right from a legal perspective is crucial. Here we summarise some of the main points to be aware of:

Are the premises rights for my business?

When choosing commercial premises you need to consider the factors that will affect what the building can be used for and whether this is consistent with your business. Notably, this includes local authority classifications and planning permissions, as well as covenants and restrictions on use imposed by the landlord.

The building will need to meet laws regarding, for example, disability access and health and safety. It is important to check that the physical nature of the building will allow you to comply with these and that there are no planning permissions preventing you from making any necessary amendments.

Lease or License?

Read more »

Tagged ,