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May 26, 2017

Watford office market makes a come back – Josh

According to Savills, take-up in the Watford office market hit 104,678 sq ft (9,733 sq m) in May of 2016, a 40% increase on last year’s total take-up of 74,683 sq ft (6,938 sq m), driven by continued corporate commitment to the town. Savills predicts that take-up is set to

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Oil heads towards $45 as slide quickens

©AP Oil prices extended losses to more than 10 per cent over the past two weeks, dropping towards $45 a barrel, as doubts about the possibility of an output agreement between the world’s main producers intensified. Russia, which Opec hopes may join talks in Algeria next month as the largest

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Recent Political Endorsements Have Been Announced

Recent political endorsements have been announced to update the home buying process after claiming the system is 19th century conveyancing and is not fit for modern buyers and The Conveyancing Association (CA) have welcomed the proposal with open arms. The CA is the trade body for the conveyancing industry and

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BDC 317 : Jun 2024

May 26, 2017

Watford office market makes a come back – Josh

According to Savills, take-up in the Watford office market hit 104,678 sq ft (9,733 sq m) in May of 2016, a 40% increase on last year’s total take-up of 74,683 sq ft (6,938 sq m), driven by continued corporate commitment to the town. Savills predicts that take-up is set to increase further still when the construction of Threadneedle’s 60,000 sq ft (5,574 sq m) office building at Croxley Green Business Park completes in Q4 2017, the first speculative development seen in Watford since 2006. A further 39,990 sq ft (3,715 sq m) of recently refurbished Grade A stock available at 45 Clarendon Road and The Junction should also help meet strong occupier demand. The continued demand for office space has been underlined by a number of recent corporate deals. This includes TK Maxx purchasing a site on Clarendon Road in 2015 with the view to develop 100,000 sq ft (9,290 sq m) of office accommodation and Smith & Nephew taking 60,000 sq ft (5,574 sq m) at Croxley Green Business Park in 2016, the largest letting in Watford for 15 years. Despite this, Watford has remained largely undervalued compared to other surrounding M25 towns. Rents for refurbished Grade A space currently stand at circa £27 per sq ft (£290 per sq m), whereas Uxbridge and St Albans stand at £34 per sq ft (£366 per sq m) and £30 per sq ft (£323 per sq m) respectively. For this reason, a major attraction is Watford’s affordability in contrast to the other core South East office markets. Savills anticipates that rents are likely to increase over the next 12 months. There is already evidence of this, as shown by Veale Wasborough Vizards. The law firm recently took 11,000 sq ft (1,021 sq m) at 45 Clarendon Road, paying £27 per sq ft (£290 per sq m), the highest rent achieved in the town since 2001. Let prior to practical completion of the refurbishment, this underlines the demand for Grade A office space as the lack of any new development continues to drive rent upwards. Andrew Willcock, director in the South East office agency team, comments: “In the past Watford has been unable to capitalise on the significant demand for office space in the northern sector of the South East office market largely due to the lack of new development. However, the commitment from Threadneedle to spec build at Croxley Green Business Park highlights the current developer confidence in the town. Boasting excellent transport links and a vast corporate occupier roll call, it remains an obvious choice for a number of businesses. This recent rental uptick should help to encourage further activity both in the centre and in Watford’s business parks.” Source link

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Oil heads towards $45 as slide quickens

©AP Oil prices extended losses to more than 10 per cent over the past two weeks, dropping towards $45 a barrel, as doubts about the possibility of an output agreement between the world’s main producers intensified. Russia, which Opec hopes may join talks in Algeria next month as the largest exporter outside the cartel, said prices might need to decline further before it engaged “more actively in this issue”. More On this topic IN Commodities The comments from Alexander Novak, the Russian energy minister, were a blow to hopes that the world’s biggest producers might be inching towards co-ordinated action to restrict output and help accelerate the end of a two-year old supply glut, which has roiled energy markets and hit their budgets hard. Renewed discussions of an output cap had helped prices recover last month, peaking above $52 a barrel on August 19 before renewed uncertainty crept in. A similar plan in April was derailed after Saudi Arabia, the largest producer in Opec, refused to participate without Iran’s co-operation. Brent crude oil, the international benchmark, fell 2.4 per cent on Thursday to $45.78 a barrel, after gaining 11 per cent in August. US benchmark West Texas Intermediate dropped 2.5 per cent to $43.59 a barrel. Plans for Opec to meet in Algiers at the end of September are going ahead, with signs Saudi Arabia may this time be willing to cap output, with its aim of listing a stake in its state oil company being hampered by the drop in prices. Since averaging above $100 a barrel for most of the period between 2008 and 2014, crude prices have since more than halved as fast-growing US shale output triggered increased competition among the world’s largest producers. Opec members have raised output to the highest on record, led by increases from Saudi Arabia and Iraq, while Iran’s production has also recovered since western sanctions linked to its nuclear programme were largely lifted in January. Khalid Al Falih, Saudi Arabia’s oil minister, has insisted Riyadh is not trying to flood the market but has instead raised output to more than 10.6m barrels a day in response to customers and higher domestic demand. Olivier Jakob, a market analyst at Petromatrix in Switzerland, said, however, that much of the additional oil Saudi Arabia was selling might be going into storage, as traders tried to buy up cheap crude to sell at higher prices later. “Part of the demand for crude oil is for stockbuilding,” Mr Jakob said. “Therefore as long as Saudi Arabia continues to gradually increase production to answer the demand for stockbuilding, it is not allowing the expected ‘rebalancing’ to occur.” Production outside of Opec is expected to fall this year, helping bring the market back towards balance, with lower prices also boosting demand. But a recovery from below $30 in January has allowed some US producers to add drilling rigs, with many now operating leaner, more efficient companies after working to drive down costs. Some think the market glut might not clear until well into 2017. “Middle Eastern Opec production also needs to start stabilising (and then falling) before prices can rise sustainably,” analysts at Energy Aspects said this week. Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link

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Recent Political Endorsements Have Been Announced

Recent political endorsements have been announced to update the home buying process after claiming the system is 19th century conveyancing and is not fit for modern buyers and The Conveyancing Association (CA) have welcomed the proposal with open arms. The CA is the trade body for the conveyancing industry and have said they support all political parties who have talked about housing market reform which could lead to a shorter buying process. This left particular attention to fall on the Conservative party as in their manifesto it is clearly stated: `reform and modernise the house buying process` and `crack down on unfair practices in `leasehold.’ It is a complex time and the CA have recognised a lack of interest to bring back Home Information Packs but have emphasized that information needs to be upfront in order for the home buying process to be beneficial to everyone involved. The CA have urged political parties to engage with conveyancing industries in order to further develop their understanding on what is required to deliver a successful modern conveyancing process. The CA want to bring back binding offers which would mean those wanting to move to be assured their deal is bound to a specific time frame. Reservation agreements already in practice are similar to the concept and would involve affordable deposits being put down, and possibly any insurance policies to be undertaken by the seller. This way if they were to withdraw from the house, the purchaser’s expenses are covered. The association believe that by achieving the ability to offer upfront information to the purchases they can secure a binding decision on the mortgage, making a binding offer likely. CA are also working on a range of aspects including enhanced ID verification, completion certainty, secure portals for establishments, local search data and property logbooks. Their plan to modernise the home buying process and its subsequent strategic plan is something they believe can be the building framework for the future of the UK and its housing market. The belief remains that as soon as the UK catches up with countries such as Australia, who already offer efficient and fast digital conveyancing services the better off the UK will be. A buyer in Australia can sign a contract immediately, if they choose to do so, meaning the seller cannot withdraw on the basis another potential buyer is offering more money while the mortgage arrangements are being put in place.

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Flowscape Work on a Human Level So That Employees Bring the Key to a Successful Business

Flowscape work on a human level to showcase their belief that happy employees bring the key to a successful business. The company aid others to create pleasant work environments hiring 1,000 employees a year to spend 60,000 annual hours on unnecessary friction-the equivalent to thirty full time jobs. With the most offices experiencing some types of friction in the workplace, no matter how big or small the issues may be, Flowscape make it their business to help their clients remove difficulties and make a work environment that is productive, while also reducing overall costs. Their human approach is unique, simple and personal and works fantastically for all these reasons and more, so the team decided to communicate their beliefs through the form of film. The film itself uses an artistic representation that shows the causes of friction that can be experienced by employees on a daily basis as well as the snowballing damage the effect can have on energy levels across the office/business. Flow can outrival friction and this is the message the company were desperate to get across! Through the use of cutting edge technology, Flowscape have managed to reduce the amount of time that is wasted and promote the interaction and productivity among a business’ colleagues, they use their main feature: Flowmap to give companies an overview of their offices which enable them to quickly find meeting rooms, equipment, desks and coworkers. Ericsson and Flowscape have started a cooperation which aims to help Ericsson’s employees have an easier time reserving work space and communicating with colleagues. Facility management and IT are combined to transform offices into modern workplaces that have a genuine care for those working in the business. The Flowscape app aims to optimise the workplace offering several useful features for a variety of businesses that keep everyone up to date with optimum ease, speed and efficiency.

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Northseal Scaffolding Announced That They Have Selected Actavo Hire & Sales

Northseal Scaffolding has announced that they have selected Actavo Hire & Sales to be their supplier of choice. The Glasgow branch will be the chosen supplier for the specialised contracting company. Through the working partnership that they have formed, the companies will be delivering on their joint project to provide the scaffolding requirements for a £130,000 project undertaken for East Ayrshire Council. Northseal is based in Galston and East Ayrshires and has been providing and installing scaffolding to a range of different clients around Scotland. The scaffolding company works for clients in commercial and private sectors as well as local authorities in the country in order to offer scaffolding supplies and services. For this latest contract for East Ayreshire Council, Actavo is required to deliver a range of different scaffolding solutions for work that is taking place of the New Farm Loch estate. It is one of a number of different contracts that Actavo has undertaken in partnership with Northseal. New Farm Loch estate was originally built between 1968 and the middle of the 1970s and consists of a number of different residential spaces. The estate has a variety of medium-rise blocks for residential purposes, and there are also a number of terraced homes. There is a project being carried out on the New Farm Loch estate to improve the insulation of the buildings. For this work to be carried out there needs to be an extensive amount of scaffolding. The local authority has started carrying out the insulation work in order to make their housing more energy efficient. Northseal was first brought on to the project to supply the scaffolding, but the project requires larger volumes of scaffolding to cater for the flats and the long rows of terraced homes. Actavo supplied the project with scaffolding that uses the K-Lock system, reducing the nots bolts and wedges required to construct the scaffolding. The K-Lock is one of the fastest systems to construct and install which is efficient for such an extensive project.

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I4 Recruitment Limited Taken Over New Premises With the Vulcan Road Business

The recruitment consultants, I4 Recruitment Limited is a Norwich based company that has taken over new premises within the Vulcan Road Business Zone in the City. The commercial building used to be occupied by a recycling company. Therefore, before the recruitment could take over the space the old recycling centre need a bit of refurbishment. Part of the refurbishment that has been carried out includes renovation of the main floor area which needed levelling. The work was carried out by Smart Render, another Norwich based company; who used a range of Saint-Gobain Weber products throughout the project. The building was surveyed at first with the assistance of Weber’s support team, who helped to create the technical specification of the work. The substrate that was originally on the floor of the space sloped in to a central gully and the room required sand blinding in order to establish a reasonable level before the space was covered by a 100 micron weberfloor DPM. The work has been finished to a high standard and will allow I4 Recruitment Limited to apply any other floor covering on to the newly acquired space. The recruitment company are focusing on creating quality facilities for their staff members. The work carried out on the space that used to be a recycling centre was fast and efficient and has made a significant upgrade to the premises. Smart Renders began operating five years ago and the company has used webertherm External Wall Insulation as part of a number of different projects that are located around East Anglia. The business is capitalizing on the change from more typically industrial and perhaps more “dirty” practices to more technological processes, there is a demand for the workspace updates that can be offered by Smart Renders. The space at Vulcan Road is a prime example of this change as it has been transformed from a rugged and basically fitted out space in to smart and modern office space. The former recycling space at Vulcan Road will now be used as a gym and a recreation centre to allow I4 Recruitment’s staff the ability to let off a bit of steam.

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Lightning Protection Systems Recently Been Created as Part of Protection and the IEC Standard

Lightning Protection Systems have recently been created as part of protection and the IEC standard, the IEC 62305. The Isolated Lightning Protection System, or LPS has been created in order to offer level of protection that can gain an adequate separation distance. The protection measures could include equipment such a lightning conductor is and the Isolated LPS makes sure that there is enough electric or physical distance between what is being used to conduct the current and what is being protected.  Therefore, the Isolated LPS is an effective way of reducing the impact of lightning. Another way of protecting from lightning is the non-isolated protection. These are more conventional and include equipment such as Faraday Cages that are normally attached directly on to the structure or asset that need to be protected. This process can normally be an effective form of protection as a minimum requirement however in cases where directly connecting a non-isolated LPS becomes at the least, inefficient and at most dangerous; such as when the equipment that need to been protected in flammable or perhaps explosive, an isolated LPS is recommended. Isolated LPSs makes sure that if a lightning strike were to happen, the area around the building is made safe when installing an LPS. Meaning that when protecting sites that come with disastrous consequences if lightning were to strike the surge protection is increased a lot with the use of an Isolated LPS. An important thing to consider when looking to secure any kind of building or facility is the consequence of a direct lightning strike. If the consequences could mean the ignition of flammable of explosive product, it may be worth looking in to Isolated LPS. As part of construction, the protection of the building from freak weather conditions must be addressed, and it is a wise move to consult an expert for the best way to protect a building or facility.

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There Will Be 179,000 New Jobs Created For The Construction Industry

It has been forecast that over the next five years there will be 179,000 new jobs created for the construction industry. This is great news as the sector is experiencing a level of growth that has not been reached since the recession. However, there has also been a number of skills deficits found within the construction industry, which will increase as the industry grows. In order to combat this deficit training is being provided in order to help companies hire fully-qualified and able people to fill job roles. The current gaps that have been noted within the construction industry covers several different trades, and it is predicted that Small or Medium sized Enterprises, or SMEs could have the most challenges to deal with over the next five-year period. Within the construction industry at the moment there has been a reported lack of roofer, plumbers and other skilled workers in the industry. The training that is being offered is fully funded and will come at no extra cost to the SME, but is will help the business fill the available job spaces that they have. With predictions that the employment figures in the industry will reach 2.6 million over the course of this period of growth. This will be a 1.7% growth in the sector. Therefore, the training that has been set up by The Skills Support Workforce, or SSW, will help SMEs through their new fully funded training project to reduce the skills gap that is currently being experienced. Being able to fill in these gaps will hopefully help the business to make the most of this fruitful period for the construction industry. The increased pressure to create more and more housing in order to meet demand has been suggested as one of the reasons for the increased growth in the sector. To meet the demand for new homes, approximately 220,000 new homes would have to be constructed. This high demand has a knock on effect and increases the demand for construction trades. However, the skills gap is meaning that the number of skilled workers is being spread quite thin. Hopefully the SSW’s new project will be beneficial for the industry.  

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AECOM Announced That They Have Finished Some Distinctive Landscaping Designs

AECOM has announced that they have finished some distinctive landscaping designs for the project that will see Dreamland, the historical amusement park that is located in Margate. The amusement park was opened in the 1870s. The amusement park will be opening this week after undergoing some major renovation work. The work should see the sensitive upgrade of the park, with restored vintage rides and the introduction of a range of different modern facilities. One of the new facilities that has been added is an open air venue that has the ability to hold 15,000 people. The venue has been designed and built with music venues in mind and it is thought that the space will be ideal for such performances. The design that has been drawn up by AECOM covers the entire of the 3.5-acre site and will look to upgrade the open and hard surfaces that the park had before with the use of greenery and plants that are well suited to the coastal theme park. The intention was to create green spaces around the vintage rides and make the whole theme park fell more intimate and create an open parkland area that is a perfect location for the main stage area of the park. As well as the transformation to the theme park site AECOM has designed the 1.5-hectare space that will be an expended park space for the public to use and contains the 15,000 capacity events space. The performance space, called the Scenic Stage will have a food court plaza nearby and will also have a public amphitheater surrounding it. The plans depict the installation of more than 1,000 trees and 60,000 different shrubs that will suit the seaside aspect of the theme park and the microclimate of Margate. As well as the design for the landscape in the newly renovated park, AECOM provided a number of different services to the redevelopment project. These services include engineering, cost management, lighting and wayfinding for the project.

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