award winning architects

Thursday, 01 December 2011 00:00

Tristan Rhodes, Senior Associate Architect

Tristan Rhodes

Estates Gazette and British Council for Offices (BCO) 'Office Summit' Overview

I've just returned from the Estates Gazette and British Council for Offices (BCO) 'Office Summit' held at the recently completed Cannons Place, London.

The venue was excellently connected and the importance of connectivity in relation to value was explored by Robert Noel (MD for Land Securities London portfolio). He outlined the robust level of inward investment taking place in the London market and highlighted the importance of place making in the success of schemes such as New Street Square.

One theme explored by the summit is the opportunity afforded by the glut of upcoming lease expiry events predicted for 2014 /15. The lease events, born out of expiry of 25 and 15 year agreements made in the 80's and 90's boom periods respectively, represent significant levels of existing built stock coming to the market.

Project examples were presented by Derwent London, Hammerson, Hines and Great Portland Estates to demonstrate varying approaches to refurbishment.

Disposal and changing the use of existing office space was presented from an occupiers position by Sally Leonard (Head of Asset Management, British Telecom), with interesting commentary on intensification of occupation.

The key message to be taken from the day for me was the cautionary note that whilst refurbishment presents its own unique set of funding and programme advantages the quality and flexibility of the resulting office space relies upon a robust understanding of the target market and appointment of a suitable and relevantly experienced design team.