Abstract
AMA Research has published the 1st Edition of the Commercial Office Construction Market in the UK report. The report should be of particular interest to companies in the construction sector, developers and institutional investors, and provides a comprehensive and informative review of the commercial office property market.
The Reports Covers the Following Areas in Detail:-
- An overall review of the UK commercial office sector with forecasts for growth over the next few years.
- Detailed assessment of new build office construction output together with forecasts for growth up to 2012.
- Review of the key issues of demand, availability, take-up rates, rents and vacancy rates for the Central London and regional offices markets.
- Explores the shift in emphasis on development back into town centres from out of town locations and the growing trend towards regeneration and mixed use office/residential developments.
Of particular interest:-
- Review of the office development pipeline for London and the regions through to 2009. Details key commercial office schemes under construction.
- Review of the key issue of sustainability in the commercial office sector. Many large commercial companies have pledged to reduce their environmental impact, reduce CO2 emissions and incorporate green technologies.
- Analysis of the major office occupiers by end use sector. Illustration of how the financial and business services sector continues to drive development in the sector accounting for an estimated 50% of total office floor-space.
- Assessment of the use of off-site building techniques in the commercial office sector with typical applications including toilet/ bathroom pods and plant rooms.
- Details of the activities and projects of leading contractors, architects, developers and fit-out companies operating in the commercial office sector.
Table of Contents
1. INTRODUCTION
2. EXECUTIVE SUMMARY AND FUTURE PROSPECTS
3. ECONOMIC ENVIRONMENT
- 3.1 GDP
- 3.2 INFLATION & INTEREST RATES
- 3.3 UNEMPLOYMENT
- 3.4 HOUSEHOLD CONSUMPTION
- 3.5 HOUSING & CONSTRUCTION
- 3.6 STERLING
- 3.7 POPULATION PROFILE
- 3.8 CONCLUSIONS
4. THE COMMERCIAL OFFICE MARKET IN THE UK
- 4.1 PERFORMANCE OF THE COMMERCIAL OFFICE SECTOR IN THE UK
- 4.1.1 Office Occupiers by End Sector
- 4.2. LONDON OFFICE MARKET
- 4.2.1 Central London & City
- 4.2.2 West End
- 4.2.3 Docklands
- 4.3 REGIONAL OFFICE MARKETS
- 4.3.1 Birmingham
- 4.3.2 Bristol
- 4.3.3 Cardiff
- 4.3.4 Edinburgh
- 4.3.5 Glasgow
- 4.3.6 Leeds
- 4.3.7 Liverpool
- 4.3.8 Manchester
- 4.3.9 Newcastle upon Tyne
- 4.4 BUSINESS PARKS IN THE UK
- 4.4.1 Performance of the Business Park Sector
- 4.4.2 Office Space/Office Parks in Regeneration Areas
5. CONSTRUCTION MARKET FOR COMMERCIAL OFFICES
- 5.1 CONSTRUCTION MARKET OVERVIEW
- 5.1.1 Value of Output - Construction New Work
- 5.2 CONTRACTORS OUTPUT IN THE COMMERCIAL OFFICE SECTOR
- 5.2.1 Impact of Rising Materials Costs on Office Construction
- 5.3 COMMERCIAL OFFICE - NEW DEVELOPMENT PIPELINE
- 5.3.1 Central London Office Pipeline
- 5.3.2 Regional Office Development Pipeline
- 5.3.3 Office Refurbishment/Fit-Out Market
6. FACTORS AFFECTING THE MARKET
- 6.1 OVERVIEW
- 6.2 PLANNING LAWS
- 6.2.1 PPG4 - Planning for Economic Development
- 6.2.2 PPS6 - Planning for Town Centres
- 6.3 SUSTAINABILITY AND ‘GREEN OFFICES’
- 6.3.1 CO2 Emissions from Buildings
- 6.3.2 Key Environmental Legislation
- 6.3.3 BREEAM Offices
- 6.3.4 Sustainability Code for Non-Domestic Buildings
- 6.3.5 Green Incentives for Developers
- 6.3.6 Sustainability Issues for the Commercial Office Market
- 6.4 USE OF OFFSITE TECHNIQUES IN THE COMMERCIAL OFFICE MARKET
- 6.4.1 Application to the Commercial Office Sector
7. CONSTRUCTION MARKET SUPPLY IN THE OFFICE SECTOR
- 7.1 STRUCTURE OF THE CONTRACTING INDUSTRY
- 7.2 LEADING CONSTRUCTION CONTRACTORS IN THE COMMERCIAL OFFICE MARKET
- 7.2.1 Overview
- 7.3 KEY CONTRACTOR PROFILES
- 7.4 FIT OUT CONTRACTORS IN THE COMMERCIAL OFFICE SECTOR
- 7.5 LEADING ARCHITECTURAL PRACTICES IN THE OFFICE MARKET
- 7.6 LEADING DEVELOPERS IN THE OFFICE MARKET
TABLES AND CHARTS
- TABLE 1 UK OFFICE DEVELOPMENT PIPELINE (SQ. FT ‘000)
- CHART 2 INTEREST RATES AND INFLATION (CPI) FROM 1990-2010
- CHART 3 PDI & SAVINGS RATIO AT CURRENT PRICES 1990-2010
- TABLE 4 EXCHANGE RATE FLUCTUATIONS 2000-2007 - STERLING TO THE DOLLAR, AND THE EURO, SPOT RATES
- CHART 5 AGE DISTRIBUTION OF THE RESIDENT UK POPULATION 2001 (‘000)
- CHART 6 UK OFFICE MARKET - OCCUPIERS BY END SECTOR (FLOOR-SPACE TRANSACTED IN Q2 2007)
- CHART 7 LONDON OFFICE RENTS Q2 2006 - Q2 2008 (£/SQ. FT.)
- CHART 8 CENTRAL LONDON OFFICE TAKE-UP (MILLION SQ. FT.) Q4 2002 - Q2 2007
- CHART 9 LONDON OFFICE MARKET - OCCUPIERS BY END SECTOR (FLOOR-SPACE TRANSACTED IN Q2 2007)
- CHART 10 WEST END OFFICE MARKET - OCCUPIERS BY END SECTOR (FLOOR-SPACE TRANSACTED IN Q2 2007)
- TABLE 11 REGIONAL OFFICE MARKETS DEVELOPMENT PIPELINE 2007 - 2009 (SQ. FT. ‘000)
- TABLE 12 UK BUSINESS PARKS - TOTAL OFFICE SPACE (SQ. FT MILLION)
- TABLE 13 UK BUSINESS PARKS - SPACE UNDER CONSTRUCTION Q2 2006 & Q2 2007 (SQ. FT. ‘000)
- TABLE 14 TOP URBAN REGENERATION SCHEMES IN THE UK - % OF COMMERCIAL OFFICE SPACE
- CHART 15 VALUE OF CONSTRUCTION OUTPUT NEW WORK 2002-2012 (£ BILLION)
- TABLE 16 CONTRACTORS' OUTPUT IN THE COMMERCIAL OFFICE SECTOR 2002-2012 (£M)
- TABLE 17 INCREASE IN BUILDING MATERIALS PRICES JULY 2006 - JULY 2007
- CHART 18 CENTRAL LONDON OFFICE DEVELOPMENT PIPELINE 2007-2010
- TABLE 19 LONDON OFFICE MARKET - DEVELOPMENT PIPELINE STATISTICS
- TABLE 20 CENTRAL LONDON - PRINCIPAL COMMERCIAL OFFICE SCHEMES IN DEVELOPMENT
- CHART 21 REGIONAL OFFICE DEVELOPMENT PIPELINE 2007-2010
- TABLE 22 REGIONAL OFFICE MARKETS - DEVELOPMENT PIPELINE STATISTICS
- TABLE 23 CONTRACTORS OUTPUT - INTERIOR REFURBISHMENT 2000-2011 AT CURRENT PRICES (£M)
- TABLE 24 FIT-OUT COST FOR COMMERCIAL OFFICE SECTOR (BY END USE) (£/SQ. FT.)
- CHART 25 CO2 EMISSIONS FROM PROPERTY AND PROCESSES BY SECTOR
- CHART 26 OFFICE TYPES - RENEWABLE ENERGY COSTS AS % OF TOTAL BUILDING COSTS
- CHART 27 % COMMERCIAL DEVELOPMENTS USING TOILET PODS 2001 - 2007
- TABLE 28 MAIN PRIVATE CONTRACTORS - BY NUMBER OF EMPLOYEES 2006
- TABLE 29 LEADING CONTRACTORS' SHARE OF COMMERCIAL SECTOR CONSTRUCTION WORK IN 2006 (£M)
- TABLE 30 LEADING ARCHITECTS IN THE COMMERCIAL OFFICE MARKET
- TABLE 31 LEADING DEVELOPERS IN THE COMMERCIAL OFFICE MARKET
