National contractor registers its 3000th site – marking its continued commitment to improve image of construction. Morgan Sindall – one of the UK’s leading construction, infrastructure and design businesses – has been recognised for its long-term commitment to improving the image of the construction industry. The company, winner of over
The report, which reflects the cost of renting office space in tower buildings across key global cities, explains that London’s growth is partly due to a buoyant occupier market, which has seen vacancy rates reach the lowest level since 2001. Closely following London’s growth is San Francisco, which witnessed an
National contractor registers its 3000th site – marking its continued commitment to improve image of construction. Morgan Sindall – one of the UK’s leading construction, infrastructure and design businesses – has been recognised for its long-term commitment to improving the image of the construction industry. The company, winner of over 300 Considerate Constructors Scheme National Site Awards, has become the third constructor to register 3000+ sites with the Scheme. The 3000th milestone registration was for the £30m redevelopment of 55 Colmore Row – a prestigious landmark in central Birmingham. The redevelopment is expected to be completed by Autumn 2016 and will provide 160,000 square feet of Grade A office space, including three new floors added to the top of the building. Morgan Sindall strives to care about its appearance, respect the community, protect the environment, secure everyone’s safety and value its workforce – the key principles of the Scheme’s Code of Considerate Practice. The company was one of the first constructors to join the Scheme in 1997 and became an Associate in 2007. Associate Members are companies who have proved their commitment to the Code through a high number of consistently high performing registrations. Considerate Constructors Scheme Chief Executive Edward Hardy commented: “Morgan Sindall’s milestone achievement acknowledges the long-standing commitment they have made towards improving the image of the industry. “Through supporting the Scheme and its aims, they play a pivotal role in driving the industry forward and setting the standard for others to follow. The Scheme looks forward to recognising more milestone achievements with other contractors, as the industry and public continue to realise the benefits that being part of the Scheme brings.” Pat Boyle, Managing Director for Construction at Morgan Sindall said: “I am very proud to accept this milestone award on behalf of all of our employees, which demonstrates our on-going commitment to being a considerate constructor. “As an Associate Member, the Considerate Constructors Scheme is fundamental to the way we manage our construction projects and engage with communities. We strive to go above and beyond the Scheme’s Code of Considerate Practice and our ultimate aim is to leave a positive Morgan Sindall legacy long after project handover.” Ben Cushway, Contracts Manager at Morgan Sindall added: “The Colmore Row project team is delighted to be the 3,000th Scheme site registration for Morgan Sindall. Given the city centre location of the project, being a considerate constructor is paramount to its successful delivery. “The Scheme provides additional focus for us to consider the project’s wider impacts on the local community, our workforce and the environment. We take pride in working with the Considerate Constructors Scheme to continually improve and develop the benefits we provide to the local and wider community by offering a positive and safe experience to all.”
The report, which reflects the cost of renting office space in tower buildings across key global cities, explains that London’s growth is partly due to a buoyant occupier market, which has seen vacancy rates reach the lowest level since 2001. Closely following London’s growth is San Francisco, which witnessed an increase of over 8 per cent considerably more than any other US city, as the city continues to benefit from its ever-expanding tech sector. Hong Kong still tops the ranking with a prime rent of US$255.50 per sq. ft., over US$100 more expensive than New York which sits in 2nd place with a rent of US$153 per sq. ft. Hong Kong’s large lead in the index can be attributed to a variety of factors, such as the restricted geographic area of the city which results in developers having to convert air into ‘land’ and build upwards. William Beardmore-Gray, global head of office agency commented: “Occupier confidence has obviously played a major part in the increase in tower rents achieved across most of the major global cities. However, the main point of interest is that this confidence has coincided with occupiers being more prepared to compete for space that was traditionally outside their preferred locations. “London is a good example where these locational barriers are being broken down with oil, tech and private equity companies relocating across London from their more traditional West End locations.” James Roberts, head of commercial research at Knight Frank, commented: “When construction started on the latest wave of London towers a few years ago, it was to the backdrop of the Euro Crisis, and some commentators said the developers had got their timing wrong. However, the doubters have been proved wrong, with skyscraper rents in London at a record high. In part, this reflects increasing appetite for exclusive space, now the austere business environment of the Global Financial Crisis is becoming a distant memory. “San Francisco is benefiting from on-going expansion in the technology sector, and a growing preference for locating in the city over Silicon Valley. Hong Kong retains the title of ‘the world’s most expensive place to rent an office in a tower’ due to its enormous lead, but growth was slow, as a result of economic headwinds from the China slowdown. This will probably be the case in the rest of this year.” Global Cities: The 2016 Report sets the context for investors by saying that five new cities, each the size of Los Angeles, will need to be built every year for the next five years to accommodate the expected 380 million new city dwellers. The report predicts that the number of people moving to cities over the next five years will be more than three times the current population of Japan, as they try to make the most of the economic advantages cities increasingly deliver. Global Cities : The 2016 Report is available – please CLICK HERE
