The Office Gossip

Judging by recent reports on London's standing as one of the world's leading cities for property investment, it would seem things are still looking up. PricewaterhouseCoopers has revealed London as the most popular location in Europe for investment in commercial property.

Foreign investors have been attracted by the weak pound and today's news that South Korea's National Pension Service is scouting for prime office property in the UK will only strengthen the sentiment that things are picking up. Jun Kwang-woo, chairman of South Korea's NPS, said UK property continued to be attractive and represented "a good buying opportunity".

The only worry is that the government will withdraw economic stimulus before the market has fully recovered. Let's hope the positive reports keep on coming!

There was a good turn out at the LOMA breakfast briefing yesterday morning and it was good to see both familiar and new faces attending.

CBRE was top of the table for 2009 taking a 23% market share.

For the full report, including information on take up, supply, asking rents and construction please click here: http://www.egi.co.uk/lomarketanalysis.htm 

For a brief summary and market overview there is a video hosted online: http://www.egi.co.uk/Articles/Article.aspx?liArticleID=712468&NavigationID=464 

Thank you to all that attended and we look forward to seeing you in April for the Q1 2010 briefing.

The UK has just exited a deep recession with a 0.1% growth in the economy in the last three months of 2009. Although growth is slight it could give the construction industry the push they need to begin developing the many stalled site across London. With a shortage of new grade A office stock due in 2011/12 perhaps developers should take the risk and start picking up tools again in 2010.

A ceremony attended by around 60,000 guests is currently being held to celebrate the opening of the world's tallest building. Although the exact height of the building is still a secret, the Burj Dubai is thought to top 800 m (2,625 ft) and boasts 160 floors of luxury apartments, office space and a hotel.

The development began in 2004 in an altogether more affluent economic climate and despite early interest, it has been difficult to lease the office space with companies currently unable to justify such luxurious premises.

The building, whose interior has not yet been completed, is thought to be almost 1,000 ft taller than Taipei 101. For more information and to share your views, click here

So we are at the end of another hard year, the first snow flakes have fallen and most of us our winding down for a well earned few days off to enjoy the festivities that this time of year brings.

Here are some of the highlights of what 2009 has meant to the property market:

Decline in overseas lenders adds to government headache

Credit crunch bite worse than its bark as banks bite off more than they can chew

UK economy hit with £3.5 billion snowball

Voids soar in latest agency figures

A MAN-made disaster. Not if Lehman Brothers had been Lehman Sisters!

Save your best till last OR offload now to stay afloat?

London toppled by Tokyo

The only way is up, for the Heron Tower at least.

News to be thin on the ground at MIPIM

 
...Toppled by Tokyo, and the Big Apple is next

Students advised "be prepared" as turbulent times hit recruitment market

Desperate times call for desperate measures

On show - law firms cruise into property event on wave of banking woes

Rent correction prompts surge in viewings

U.S Bailout a sight for sore eyes

Fire breaks out near Holborn

Surge in home working

Cheap booze drys up at Diageo

The Shard - A view as far as the eye can see, well almost.

Blow for AIG as landmark property is renamed

Tax increases could turn a trickle into a flood

LandSec chief serves cup of caution for breakfast

More women to fill the boardroom

 
Sir Alan's all go for Bishopsgate

Property firms still collapsing

UK market hit by loans

Fountains and Gasholders to front Kings Cross regeneration

Heron Tower aliens to feng shui traditions

 
FA opt for stadium home

Wires crossed! Can a £15.9 billion project be untangled?

 
Full buckets for EGi research

Mammoth property deal wobbles - Coeur Defense

 
Kuwait's twister nears completion

 
Kuala Lumpur all huggable over Intermark development

For sale, at the right price!! Middle East close on British Land?

Nomura art a breath of fresh air for former Lehmanites

Has the cost of your munch been affected by the crunch?

The 'Shards Of Glass' makes an early arrival

Hit for 6. Or is it 4? Nomura completes City deal

33 story gloom. Will Lehman curse be lifted?

Going for gold: Shell Centre promotes Hasbro venture

Gas holder 8: Architectural Abomination or Design Delight?

More bad news: Unemployment hits new high

Hasty approach - Investors consider speculative sites as stock supply runs dry

London loses property investment crown

Tenants face limited options as grade A dry's up

More go Swiss but motives change

Howdy Partner, Monmouth Dean set to roll into Midtown

Peak a boo. West End office opens today

A Wapping redevelopment for News International

Milton Gate set for Spanish purchase

Debt ridden Dubai rocks world markets

Milton Gate set for Spanish purchase

Debt ridden Dubai rocks world markets

Milton Gate deal is off!!

Eviction notice .... Last ditch raid on the City

 
Unstable ground, £1.9 billion rate bombshell set to knock London businesses off their feet.

 
Say Goodbye to the Naughty Noughties - Welcome to the Lean (and probably Mean) Teens

The team at London Offices would like to wish you all a very merry Christmas and we hope you have a successful and Happy New Year.

With Christmas time fast approaching and the end of another decade finally in sight, it is time to cast our minds back to what has happened over the past ten years and what lies ahead for the next few.

Justin A. Urquhart Stewart, Director of Seven Investment Management Limited, provides an interesting analogy of our time through the so called "naughty noughties" where financial, consumer and property excess exploded with catastrophic consequences, and what is in store for the "lean, mean teens" where financial regulation seems to be the name of the game.

It certainly makes interesting reading: click here

So last night was the research teams Christmas party.

A fine meal (despite the lack of pistachio ice cream) at the Villandy in Holborn started of the festivities while the snow fell from the skies.

The entire research team turned out for the occasion in festive spirits. After polishing off three courses of Christmas grub and several glasses of vino, the team headed for the Ship tavern to carry on the party atmosphere.

Have you had an unforgettable Christmas do? Where was it, and what made it Christmassy for you?