birthday edition
DESCRIPTION
Celebrating Fifteen YearsTRANSCRIPT
page 1
Birthday edition
page 2
During 2010 we experienced some of the most challenging trading conditions that we have all seen for many years. It is however with pride that I am able to report that we have managed to maintain a turnover of £75m (including £13.7m from Bell Projects) and a profit before tax of £0.5m.
Given the challenging trading environment for commercial fit-out in 2009, we have managed to maintain our market share and to also position the London Fit-Out division so that we can make the best of any uplift in the coming years. The scope of work reflected the changing economic conditions, which has reduced capital budgets and construction spend. This resulted in more projects where the tenant remained in occupation as clients chose to upgrade and refit existing premises rather than relocate to new space.
Encouragingly, for Ibex, many of these projects were for repeat clients, which helped to replace the lack of fast track fit-out opportunities in central London.
Our regional business enjoyed continued success and experienced a small amount of growth during 2009, working with clients such as: NSPCC, Network Rail, Welcome Trust, Ricoh Arena (Coventry) and the NEC. Through consistent investment and commitment, we now have an established regional business ready to benefit from more favourable trading conditions.
In 2009 we also successfully completed a number of residential projects for one of our sister companies (Bell Projects), which resulted in a transfer of trade taking place from Bell Projects to Ibex on 1 January 2009. We have subsequently created a team dedicated to the development of this part of the business where considerable opportunities exist at the higher end of this sector. We see this as an area where we can
develop and grow the business in the years to come.
Through consistent investment and commitment, we now have an established regional business ready to benefit from more favourable trading. We look forward to 2010 and working with existing and new clients, friends and colleagues. We are confident that despite the market conditions, we can continue to develop the business.
Mark Taylor Managing Director, Ibex
a message from the md
2000Major project completed for
Bloomberg £19M
X100 jobcompleted for Royal
1997
2008
Stockley Park office opened
2011
Ibex Residential established
2009Ibex continue
relationship with mid town with
Farringdon and Clerkenwell
1999
2003
Move to Chancery Exchange
Special Projects established
Ibex’s biggest
project at Westfield completed, £22M
Rebrand of Ibex launched
2007First Midlands office set up at Milton Keynes
1996Company registered
1st April
1998 2002On the move
again to Fleet House, Clerkenwell
2006Second
Midlands office opened in
Birmingham
page 3
KeY faCts
Largest ProjectWestfield
Best repeat BusinessRegus & Deutsche Bank
furthest afieldNetwork Rail, Cardiff NSPCC, Manchester
Planet Positive ProjectNetwork Rail, Milton Keynes
highest 10 Keys scoreRed Lion 9.8 / 10
most glamorousAqua Restaurant
royal approvalRoyal Commonwealth Society
Largest media WallErnst & Young
Biggest digRed Lion
highest specification CinemaParamount Pictures
highest Project Quality audit scoreZBI & Pathe 9.5 / 10
dashBoard
JoB NUmBer
X001 - Northern MLO
X100 - Ibex (Farringdon Point Head Office)
X200 - BBC Elstree
X300 - British American Tabacco
X400 - Old Mutual Asset (Project Romp)
X500 - Deutsche Bank
X600 - London School of Hygiene & Tropical Medicine
2000Major project completed for
Bloomberg £19M
X100 jobcompleted for Royal
1997
2008
Stockley Park office opened
2011
Ibex Residential established
2009Ibex continue
relationship with mid town with
Farringdon and Clerkenwell
1999
2003
Move to Chancery Exchange
Special Projects established
Ibex’s biggest
project at Westfield completed, £22M
Rebrand of Ibex launched
2007First Midlands office set up at Milton Keynes
1996Company registered
1st April
1998 2002On the move
again to Fleet House, Clerkenwell
2006Second
Midlands office opened in
Birmingham
tUrNoVer: 1996 – 2011
1996
2003
1997
2004
2000
2007
1998
2005
2001
2008
1999
2006
2002
2009
2010
£65m
£82m
£27m
£83m£81m
£95m£85m
£106m
£36m
£18m£10m
£70m£64m
£75m £75m
page 4
as Ibex celebrates its 15th anniversary, denise Chevin talks to four clients who’ve come to rely on its innovative approach and professionalism in the fast-changing office marketplace.
Lap tops, smart phones, wireless networks and Google. When we look at what’s changed in the last 15 years nothing has had more impact on the way we work than the march of technology. These days, “a day at the office” could well consist of working from home, brainstorming with colleagues over a latte in the staff canteen or video conferencing in a meeting room. Whatever a day at the office might be, there’s certainly a fair chance it won’t be glued to your desk all day.
That has implications for designers. “At any one time, most companies will only find 60 to 70% of the desk space being used,“ says simon Jackson, principal at architectural practice Gensler. “Organisations are finding themselves carrying 30% excess space at any one time and want to see how it can be used more efficiently.”
There’s been talk of hot-desking for some time, and limited but increasing use of it too. But sharing desks is all about matching requirements with business strategy too.
“Increasingly it’s all about how the office space can dovetail better with the work place strategy,” says Mr Jackson. “Staff are spending more time in meetings and less time at their desk, so organisations need more collaborative or social type space, or various sizes of meeting room.”
Gensler is bringing anthropologists into its consultancy team to help understand the way different spaces impact on people’s behaviour and how this differs between different generations.
In the last couple of years most new space has been let, and there’s now a dearth of this now on the market. The next wave of new offices will not come on stream for another two to three years. Then there’s the impact of recession on consolidation and cost cutting. All of these factors add up to a definite new trend over the next few years of tenants and owner occupiers making the most of the offices they have.
The impact of this will be a move away from the traditional Category B fit-out to more refurbishment and retrofitting of offices while tenants are still in occupation. And while they are upgrading their premises, they could well take the opportunity to re-engineer their working practices.
According to alan day, Partner, Project Management and Consultancy, at Cushman & Wakefield, companies are asking themselves why give people fixed positions when they are working in different ways? “ For example, advertising agencies may want a space where they put together people for a specific project and then these people move on and a new team comes together. It’s about being able to move people, rather than the more costly option of moving desks.”
There’s also a tendency to re-use furniture, with larger 1.8m desks being cut down to 1.4m desks, explains fellow
Ibex customer, gary Wingrove, Head of Construction Programme Management at BT.
”The arrival of flat-screen computers means that such large desks are no longer needed. The trend generally is about simplifying the work space. With free-standing furniture and bench-style rather than corner desks, it all makes the space more flexible,” he says.
Allied with this is the fashion to move all but key staff out of London into less glamorous offices in the UK Regions.
This is a key focus of BT, which has an 80 million sqm property portfolio including buildings of older vintage. “What we are doing is moving staff out of newer buildings like City Place at Gatwick and upgrading older buildings such as two technical centres we’ve recently fitted out at Dorking and Crawley,“ says Mr Wingrove.
“We’re moving more to desk-sharing and giving people the technology to work from any building,” he says. “We are looking to reduce the amount of space we have in the portfolio. We’re now at a ratio of 1.3 people per desk. I’d like to get that up to 1.6 per desk in next three to four years. People want more informal and communal spaces.”
“The next generation will work at times which suit them. We’ll be operating 24-hour buildings and we’ll have to think about managing them differently. Lines between work and play will be blurred. People could well work from the pub.”
Despite the flexibility that mobile communications bring, new developments and refurbishments are still equipped with traditional cabling and the raised floors it necessitates. “No one is brave enough yet to go to a fully wireless solution – that will come once wireless is considered fast enough,” says Cushman & Wakefield’s Mr Day.
fIt-oUt of the fUtUre
We’ve done a few jobs with Ibex recently including two technical centres in Dorking and Crawley. Our people were pleasantly surprised by the quality of space and finishes. There’s been lots of plaudits for that.
gary Wingrove
Head of Construction Programme Management, BT
page 5
What eLse Is NeW?
Julie Kortens
Head of Corporate Services, Channel 4
We’ve worked with Ibex consistently over the years. They are one of the few fit-out contractors who can work in a live broadcast environment. One of the reasons we go to them is because their Managing Director Mark Taylor gets personally involved. I would say they are aligned with us culturally. Because of the nature of what we do our agenda and brief tends to shift. The team at Ibex is flexible enough to accommodate us without significant impact on the commercial side.
simon Jackson
Principal, Gensler
We’ve done some excellent projects with Ibex over the years – including DTZ headquarters and ZBI. They have some great people, who have been with the firm for a while.
While the changes in the delivery of office fit-outs may not be quite as dramatic as the changes in technology we use in them, contracting has certainly moved on too in the last 15 years.
Ibex’s customers say the industry has become more professional, less adversarial and much slicker with fewer wet trades. Traditional contracting has given way to more design and build, and lead-in times have been cut to the bone. The recession, too, has taken its toll.
“At the moment there’s a trend to lease furniture and spread the cost over a longer period,” says Mr Day. ”Cash is tight so companies are looking at a low cost approach to furniture and finishes. Clients are more sensitive about spending capital than they have ever been before.”
He says there is a general tendency for clients to go for the lowest bid when procuring fit-out services – “but if we get involved, we make sure it’s properly benchmarked. If contractors operate at a loss they then spend their time looking to make it up in variations.”
Another recent development is for many big companies to procure the work through a centralised procurement team – including e-bidding on line, which Mr Day believes is actually compromising quality.
We’ve also seen the shift of design and build contracting from smaller jobs to widespread use. Says Mr Day:
“The quality of specification is not as good or as detailed as it was – bills of quantities have gone and documents that come to contractors are far less detailed. Of course, because of the holes in the contract, the risk is greater for the contractor and the clients pay a higher price.”
BT’s Gary Wingrove adds: “In terms of procurement,we are moving away from frameworks and going to the traditional model of tendering. At the current prices, why wouldn’t you?
“We are also tending to go for design and build – it lets you be a bit nimbler. Interiors companies are responding well to it and are happy to take on design responsibility to get the work."
Many clients are noticing an all-round improvement in customer service, says Julie Kortens, Head of Corporate Services at Channel 4.
"The fit-out industry has matured a lot in the past 15 years. The contractors are now a different type of animal. They are now much more professional and switched on to what users and occupiers need. They are no longer as adversarial as they were back in the 1980s and 1990s. And they are far slicker than ever before.”
alan day
Partner Project Management and Consultancy, Cushman & Wakefield
article written by denise Chevin Freelance and ex-Editor, Building
I always enjoy working with Ibex. We’ve worked with them on lots of projects over the years including Discovery TV at Chiswick Park, Schroeders offices in Gresham Street and the Welcome Trust. They’re genuine people, hard working and dedicated, non-adversarial, and always want to please the client.
page 6
ChartIs
Level 5 & 6, 150 Cheapside, London, EC2V
4,645m2
4.2M
18 Weeks
fIt-oUt
page 7
ChaNNeL 4 teLeVIsIoN124 Horseferry Road, London, SW1 Multi Million
BrItIsh teLeCommUNICatIoNs
rUsseLL reYNoLds assoCIatesAlmack House, 26-28 King Street, London SW1Y
2,415m2
Multi Million
16 Weeks
1,500m2
1M
19 Weeks
Equam que ni aute escia ped eos enis nonseni occusan duntiae perferuptam aciur? Moluptatem ut aut odia nia sereium etur? Quis volor magniasimus incimilitae. Intiandis dolorer spelige nihitaq uaturenimus.
Beatem es ent et accuptat ut a quatemp orestem et ium res quidundae. Uciunt perum dolupti sequam expeliquidem velliqui offictas a delliciis pos perferu ptaquis erat event aci dolent, quam, nisque et ab iduntius maximus et dolesseque num quam, quiae is que lacescitat.
page 8
NetWorK raIL
Reception, 2nd, 3rd & 4th Floor, Milton Keynes
9,588m2
2.8M
UK regIoNs
page 9
aCL - rICoh areNaCoventry
6,503m2
2.9M
22 Weeks
WeLLCome trUst78-84 High Street, Birmingham
drIVINg staNdards ageNCYAxis, Upper Parliament Street, Nottingham
5,016m2
4.2M (3 contracts)
4 + 6 + 20 Weeks
195m2
172K
5 Weeks
Esedi ommolupti inverias eium is sum hictiis simaio que es ipsa con re simus eritae voluptur, tenienim fuga. Nequo volum, optaquam, conet idis intibus mo tet, eatem sereperit ut dolestectur aut unt est, quo doluptus coresti oreceri buscime nem quis as aliquibuscia con ped magnaturit, corum voles aut volores pe cusdaecae int.
Maiorer itatur aut endam que numquos doleserspe conse niminul landita comnis corerum cus moluptiur rem ullesti dolorit et, ilique iliquundiant dolendigent vent
page 10
heathWest
4 West Over Hill, West Heath Road, London, NW3
2,044m2
15M
104 Weeks
resIdeNtIaL & refUrBIshmeNt
page 11
harrods87 - 135 Brompton Road, Knightsbridge, London SW1
1,350m2
3.4M
60 Weeks
haLCYoN ProPertIes3 Lovat Lane, London, EC3R
strUtt & ParKer13 Hill Street, London, SW1
2,787m2
7.4M
66 Weeks
1,000m2
4.7M
48 Weeks
Musae a dolor molo tendanda evellendae. Nequam con nescili gnatem. Et omnihil mo dis asint ea qui con premquam et as int atur ape non re a venduci mincti sam, te idero tenditis dolo to magnatur, odis andant fugitias erum re cusam alit eritatet eici sit erumquuntur, nim dolor simolupta volupta non pos estiuntis di ipsamet occae cum earum expedia nobis ma autectibus, ommoluptae omnis ipitemqui omnihilis core pres dolut magnis eum alici blautatem qui aces dolut aut quid etur?
Nam volut quis dolecto et ipsapienis mi, quaecul lorepedipsam qui sam qui nobit ipsam ut eate is ipsam elesed molut omnis molorum lam lit ende nit dolupta
page 12
aVIVa LIfe & PeNsIoNs UK
130 Fenchurch Street, London EC3
130m2
120K
4 Weeks
sPeCIaL ProJeCts
page 13
erNst & YoUNg1 More Place, London, SE1
84m2
200K
7 Weeks
ChUmLeIgh gardeNs CafeBurgess Park, Albany Road, SE5
somPo JaPaN INsUraNCe Co.First Floor, Devonshire Court, London, EC2
882m2
590K
7 Weeks
510m2
1.2M
8 Weeks
Pietur? Duciliqui di que voleni incimi, quis nonsequam issitionsero expliquundi re sernatum is volestet fugitis dolupta tiosae aliti volupta dem im hiciendam quidi officte prem facculloris debis earcia eos min rem. Odignim agnihit aut rem reprovitio quam unt apiet aut quam fugia cullant.
Udi tem sectiam sanda corit, as endi occust prem ipsumquam quassin velentet atur simusae ius as enda est venisque as id que quost quati nis sitata que expliquodi que prepudit volupta tendaep eruptasperi quos dolorrumquid quuntem as experum num, sus aspe et utatque cuptassus dollene voloreh enisin exeri
page 14
association of Interior specialists 2010
Highly Commended: Aqua Restaurant, London
Considerate Constructors award 2010
Silver: Caxton House, London
Considerate Contractor scheme 2009
Highly Commended Gold Award: Halcyon Properties, London
association of Interior specialists 2009
Silver: Engine Group. London
Considerate Constructors award 2009
Silver: Debevoise and Plimpton, London
BCo award (regional) 2009
Winner: Best Fit-out, for Driving Standards Agency
Building 2007 specialist Contractor awards
Winner:Fit-out Specialist of the Year
aIa Chicago 2007 excellence in architecture award
Winner: For Kirkland & Ellis, London
fX International design award 2006
Winner: Total Workplace Concept for Red Bull, London
BCo award (regional) 2004
Winner: Best Fit-out Major Projects, (North England) for N. Brown / JD Williams
times & gestetner award 2003
Overall Winner: The Digital Office Collection for Bloomberg LP
fX International design award 2003
Winner: Best Medium to Large Office Fit-out for Corinthian Television
Building magazine award 2003
Winner: Interior & Specialist Contractor of the Year
BCo award (regional) 2003
Winner: Best Fit-out Small Workplace for Workforce Headquarters
d&ad British design and art director award 2003
Winner: Bloomberg European Headquarters
BCo award (National & London) 2002
Winner: Best Fit-out Workplace for Bloomberg European Headquarters
BCo award (London) 2001
Winner: Best Fit-out Workplace for BAT Imagination and Evolution
aWards
halcyon Properties London
driving standards agency Nottingham
debevoise & Plimptons London
engine group London
page 15
staN
dard
10 Keys is the Ibex ‘DNa’ which maps the processes and systems by which all projects are managed and monitored as part of the Quality Management Systems. Ibex have also consolidated our environmental management system, ISO 14001 and use this tool for complying with the relevant environmental regulations, achieving self-defined environmental objectives and maintaining continual improvement of performance.
istandard is an approved method, implemented by a dedicated Ibex team during the project Close Out period, to ensure a consistency in the level of quality and client satisfaction at Handover. This is also measured as part of the Quality audit system with rigorous metrics and awards for best practice and approach.
Ibex take the environmental and sustainability agenda very seriously. To reflect this we have not only consolidated our environmental management system (ISO14001) but also achieved accreditation as a BReeaM Office assessor for clients such as DTZ, Canada Life, Network Rail and Trillium.
as part of this process we have achieved a planet positive accreditation which gives us 110% carbon free status and now impacts on the whole business as we use recycled paper and ensure sites identify and recycle waste to our strict standards.
asndasdhoashdosa daisodasndask dhsadasdoisahdsadasaishd iahsdioah sdouh dashdiosahdiash dasdhsahdas daioshd iohdiashda
sPeCIaLIst sYstems
sUstaINaBILItY & the eNVIroNmeNt
IBeX oNLINe
Follow Ibex (@ibexinteriors) for the latest news and updates.
http://twitter.com/ibexinteriors
WeBsIte
ibex-interiors.co.uk
Like our Facebook page to keep up to date with the latest news and photo galleries.
Search: IbexInteriors
page 16
Chancery exchange 10 Furnival Street London, eC4a 1aB
020 3206 4300
020 3206 4301
12a Fleet Street Birmingham B3 1JL
0121 236 9369
0121 236 4367
Lakeside House 1 Furzeground Way Stockley park Uxbridge, UB11 1BD
020 8622 3041
020 8622 3281
ibex-interiors.co.uk
printed on recycled paper