London has won the thumbs up for offering high-spec offices that are delivered on time and offer good value for money, a study for the Corporation of London shows.
Andy Haynes, business analyst at consultant I&I, which compiled the research, said one of the reasons for the positive results is the quality of facilities management in London.
‘We found that in Paris and Frankfurt facilities management is not really established and because of this they are missing out on a significant learning process that we have in London,’ he told The Facilities Business.
The study, supported by the European Intelligent Building Group, shows 85 per cent of facilities managers who have set up office in the capital over the past three years say they received good value for money at construction phase, and 83 per cent at fit-out and occupation.
Of the facilities managers questioned, 80 per cent said the specification for an office fit-out in London is very high and involves complex IT.
A quarter of fit-outs cost between £1 million and £10 million, while nearly half cost even more. Some 71 per cent of projects are being delivered at or below the predicted budget.
For construction, nearly 90 per cent of office projects meet client expectations, and at the fit-out stage 87 per cent meet client expectations.
Nearly 80 per cent of office projects in London are being delivered to a time scale that meets or exceeds client expectations.
But a quarter disagreed that the quality of utilities was a factor in attracting business to London, with some concerns raised about the reliability of the electricity supply. Nor, said half, are planning and building regulations a factor in attracting businesses. However, companies with international project experience view London’s regulations favourably.
Source
The Facilities Business
