By Roger Southam, Chair of the Leasehold Advisory Service……… Over the last nine months I have had a lot of conversations about the state of leasehold management. I have encountered the nuances of the soft side of management. When calls go unanswered; when information is not supplied; when the
London Real Estate Exchange Limited confirms that it is progressing plans to launch the world’s first fully regulated securities exchange dedicated to the admission and trading of companies owning single commercial real estate assets. The proposed exchange will seek authorisation as a Recognised Investment Exchange from the Financial Conduct Authority
A highly complex, 4,200sqm two-storey ward and theatre building at Royal Stoke University Hospital has been constructed by Portakabin Hire in less than four months to help meet the increasing demand for orthopaedic services. The £13.5 million contract is the largest in the 52-year history of the Portakabin Group’s
Stainless UK have supplied over 200 stainless steel ribbed bars to SES Contracting for use in the latest phase of a rock bolt renewal programme at Dinorwig Power Station in North Wales. Dinorwig Power Station was opened in 1984 and remains the largest pumped storage power station in Europe. The
Award winning developer Crest Nicholson’s Regeneration division has raised over £70,000 for Variety, the Children’s Charity, at its recent Awards Dinner. The event was held at the Hilton hotel, Heathrow Terminal 5, on Thursday 26th November, and was attended by over 500 guests, including Crest Nicholson Regeneration staff, sub-contractors and
Amec Foster Wheeler announces today its founding membership of the Capital Deliver Alliance (‘the Alliance’), launched by UK Power Networks. Alongside three other key supply chain companies the Alliance will operate together as one body to implement a major £1 billion infrastructure programme over the next 12 years. The four
Attended by VIPs Lord Taylor of Goss Moor and Councillor Neil Atkin Following on from the government’s spending review announcement, which will see the UK’s housing budget double to £2 billion, Trent & Dove Housing Association and Maplevale Developments Ltd celebrated the completion of a joint £2.4 million project on
By Roger Southam, Chair of the Leasehold Advisory Service……… Over the last nine months I have had a lot of conversations about the state of leasehold management. I have encountered the nuances of the soft side of management. When calls go unanswered; when information is not supplied; when the leaseholder feels they are not getting service are all the soft areas that are vital to the management process of a building. Although I genuinely believe managing agents’ service levels have improved over the last five years, there will always be examples of poor service, of agents who don’t do things right, but we have to look at the bigger picture. It’s not easy for anyone when they are in the middle of a problem or feeling they have an injustice. Of course if you go into a store and buy something and are not happy, that is a lone choice, a lone interaction. With management of a building it is really a community and it is finding a common denominator of service. This will never please all the people and may not please a lot. Of course, I hear those who are complaining on levels way beyond customer service. I have touched on these themes previously and they are there every day of the week in my inbox and in work with Leasehold Advisory Service. One of the biggest leaps forward we have made is the launch of the information sheet for potential buyers so they get an understanding of what buying leasehold means from when they first go to look for a property. Leasehold is not a bad way to own a home in a building; it is how it is operated that can cause the issues. I think there needs to be a new perspective given that maybe the managing agents are not bad, they are just doing their best. If their best doesn’t measure to your standards then it is necessary to get the perspectives aligned. For some a restaurant will be great, while others will hate it. There may been no change in service. We have to highlight the bad from the good and it needs the good managers to stand up and shout from the rooftops what should be done to give good management. Roger Southam is Chair of the Leasehold Advisory Service
London Real Estate Exchange Limited confirms that it is progressing plans to launch the world’s first fully regulated securities exchange dedicated to the admission and trading of companies owning single commercial real estate assets. The proposed exchange will seek authorisation as a Recognised Investment Exchange from the Financial Conduct Authority (“FCA”) and, subject to this being achieved, will trade as IPSX (the “International Property Securities Exchange”). IPSX seeks to provide institutional and private investors alike, irrespective of size of investment, with a proxy for direct ownership of commercial real estate in a regulated environment with full transparency and liquidity. Investors will be able to buy and sell shares in companies owning single commercial real estate assets admitted to IPSX in the same way and at a comparable cost to shares in companies traded on existing equity stock exchanges. The aggregate value of the global institutional commercial real estate market is estimated to be in excess of $30 trillion. Institutional investor asset allocation to the market varies by country but is typically low single digit despite the strong yield and capital characteristics of the asset class. In the UK 3% of institutional assets under management are allocated to real estate (Source: Investment Association). Retail investor direct exposure to commercial real estate is negligible. Commercial real estate owners (institutional, private and corporate) will have access to a new capital markets solution to complement existing private market sale options. An admission on IPSX will provide owners with flexibility to retain a majority economic share in a company owning the commercial real estate asset as opposed to binary “own” or “sell” options as well as greater flexibility as to when to sell. The flexibility to sell a minority share in a company admitted to IPSX has already generated interest from commercial real estate owners including owner occupiers with strategically important real estate assets held on balance sheet which could offer a release of cash to the core business and improve return on capital. IPSX will be open to both domestic and international commercial real estate owners, subject to satisfying the admission criteria and rules for the exchange and the FCA. Subject to regulatory approval being granted, IPSX plans to launch commercially in mid-2016. +44
A highly complex, 4,200sqm two-storey ward and theatre building at Royal Stoke University Hospital has been constructed by Portakabin Hire in less than four months to help meet the increasing demand for orthopaedic services. The £13.5 million contract is the largest in the 52-year history of the Portakabin Group’s Hire Division and the project is one of its most challenging schemes in terms of programme and site constraints. The structure for the high quality patient facility was installed in just 18 days which included weekend working to minimise disruption to the hospital’s service provision as there were fully operational wards immediately adjacent to the new building. This construction solution allowed the project to be built in the shortest possible time to the benefit of patient care. The purpose-designed scheme, which will be in use for the next five years, has provided 56 new in-patient beds, two large state-of-the-art, clean air theatres for all orthopaedic procedures, recovery room, ‘dirty’ and ‘clean’ utilities, single rooms with en-suite bathrooms, staff changing rooms, reception, kitchenette, offices, 33-person ‘crash team’ lift, and an integral plant room. Commenting on the project, John Simpson, Director of Corporate Services at University Hospitals of North Midlands NHS Trust, said “This type of construction allowed us to benefit from a much shorter delivery programme so we could have the new facility up and running more quickly, meeting the increasing demand for services and enhancing patients’ experience.” “Whilst the building is constructed to permanent standards, its modular construction gives us greater flexibility as the facilities can be dismantled and removed if service needs change. We had an extremely tight timescale to deliver this complex healthcare building for the relocation of clinical services – but I am delighted to report that this was achieved.” “The new facilities have been very well received by patients and staff. There is excellent light, space, décor and infection control. Portakabin Hire successfully installed the building next to the main hospital with minimal impact on service provision. This required detailed logistical planning and the whole installation operation was carried out with military precision by a superb site team. The final design is extremely good.” Jeanette Carter, Royal Stoke Ward Manager, said, “The overall design and layout of the building are fantastic and the interior is very welcoming. We have a lot more space, particularly around beds, to facilitate patient contact and to accommodate any equipment we need. Everything fits into the ward space really well and there is better storage. The wards are airy and the design features – such as integral blinds for the windows – make infection control much easier. We also have more side rooms available which help to reduce waiting times. There has been a lot of positive feedback from staff and patients since we moved into the new building.” The new Orthopaedic Unit is constructed from 124 steel-framed modules up to 14m long and weighing up to 9 tonnes each. These were installed complete with wall finishes, internal partitioning, mechanical and electrical services and flooring already in place, further reducing work and disruption on this busy hospital site. The modules are built to permanent standards, comply with current Building Regulations and have a design life of 60 years. The hiring of modular accommodation is a fast, flexible and cost-effective way for healthcare providers to expand or relocate services, particularly on constrained hospital sites and funded from revenue rather than capital budget streams. The approach also gives NHS trusts greater flexibility as the facilities can be dismantled and removed if patient needs change. Complete, fully-fitted buildings can be delivered in a fraction of the time of a site-based construction solution. Critically, buildings can be installed with far less disruption to patient care and the solution is much safer and quieter as fitting out can also be carried out off site. Portakabin Hire provides accommodation for wards, recovery suites, dialysis units, diagnostics, out-patient departments and treatment centres. All the hospital facilities are constructed to the latest healthcare best practice design standards. For further information about modular healthcare buildings for interim and permanent applications, visit www.portanews.co.uk, email information@portakabin.co.uk or call 0845 401 0010.
Stainless UK have supplied over 200 stainless steel ribbed bars to SES Contracting for use in the latest phase of a rock bolt renewal programme at Dinorwig Power Station in North Wales. Dinorwig Power Station was opened in 1984 and remains the largest pumped storage power station in Europe. The power station itself is located inside a mountain with lakes above and below it. It is used to provide almost instant power for the National Grid at times when demand suddenly increases or there is a loss of power from other stations. At such times the gates holding back the water in the top lake are opened and the water passes through the 6 generating turbines housed in the mountain and then on into the bottom lake. The generating turbines are located in an enormous cavern within the mountain and are serviced by a 16km network of tunnels. As part of an ongoing programme to maintain the stability of the bare bedrock in the tunnels, Stainless UK manufactured 25mm diameter ribbed bars with threaded ends in lengths of up to 6m for use as rock bolts. The duplex stainless steel bars were resin fixed into holes drilled into the rock and then tensioned using a 15mm thick stainless steel end plate. Stainless UK are specialists in the manufacture of stainless steel rock bolts and have supplied a number of similar applications to this including Lochay hydro electric power station in Scotland.
Award winning developer Crest Nicholson’s Regeneration division has raised over £70,000 for Variety, the Children’s Charity, at its recent Awards Dinner. The event was held at the Hilton hotel, Heathrow Terminal 5, on Thursday 26th November, and was attended by over 500 guests, including Crest Nicholson Regeneration staff, sub-contractors and suppliers. The charity function included an awards ceremony designed to recognise key individuals and suppliers within Crest Nicholson’s Regeneration team. Managing Director Scott Black and Regeneration Chairman Chris Tinker were on hand to present awards and recognise some of the exceptional work the Crest Nicholson team has undertaken this year. Notable winners included Jan Simpson, who was named ‘Sales Advisor of the Year’, and E.ON Community Energy, who were named ‘Contractor of the Year’. The evening was a great success, raising a remarkable £70,000 for Variety, which is committed to improving the lives of ill, disabled and disadvantaged children in the UK. Crest Nicholson forged a partnership with Variety in 2005, and during this time the Group has raised over £850, 000 for the cause. Crest Nicholson’s Regeneration team helped to raise money throughout the evening with guests participating in an open auction. Prizes included a Formula One day out at Silverstone Race Course, a bespoke fitted kitchen and a luxury Fortnum and Mason hamper. Attendees could also pledge support to Variety’s Sunshine Coach Programme, which provides life changing transportation for thousands of disabled and disadvantaged children across the country every day. Scott Black, Director and Chairman at Crest Nicholson’s Regeneration division, said “Working in partnership with Variety, brings the very best out of us all. Their focus on helping disadvantaged children is strongly aligned with Crest Nicholson’s desire to work with and improve the lot of local communities where we develop. I am delighted that during the evening we raised £70,000 and look forward to seeing the direct benefits this will bring to both our local communities and disadvantaged children in the months ahead.” Mike Haszko, Variety’s Head of Corporate Fundraising commented “The support of Crest Nicholson Regeneration has been crucial in our enabling us to help improve the lives of children, through Crest’s funding of our Sunshine coaches, wheelchairs and sensory equipment. This has made a huge a difference to the children and their families. We are incredibly grateful for Crest’s long term and invaluable support”
Amec Foster Wheeler announces today its founding membership of the Capital Deliver Alliance (‘the Alliance’), launched by UK Power Networks. Alongside three other key supply chain companies the Alliance will operate together as one body to implement a major £1 billion infrastructure programme over the next 12 years. The four UK Power Networks partners are Amec Foster Wheeler, Clancy Docwra, McNicholas and Morrison Utilities Services. Working collaboratively with UK Power Networks, the four companies will refurbish and upgrade electricity substations, cables and power lines across London, the East and South East to achieve greater efficiency and innovative ways of working – to deliver excellence in service to UK Power Networks’ customers. Representatives from all the companies will be based in one London office to enable them to operate as one entity and progress an agreed work plan. Marc Boulter, Managing Director of Amec Foster Wheeler’s Transmission & Distribution business, said: ‘As part of the Alliance, we will use our global expertise and experience to help deliver safe, innovative resilient solutions to support the energy transition for London, the East, South-East and for our customer.’
Attended by VIPs Lord Taylor of Goss Moor and Councillor Neil Atkin Following on from the government’s spending review announcement, which will see the UK’s housing budget double to £2 billion, Trent & Dove Housing Association and Maplevale Developments Ltd celebrated the completion of a joint £2.4 million project on Milton Road, Repton, as part of their commitment to building more homes in rural areas. Lord Taylor, former founder of the 2009 Rural Coalition, along with local Councillor Neil Atkin attended the launch event on Tuesday 24th November, which marked the completion of the 12 month project. Talking about the development, Lord Taylor said: “I spent a lifetime living in rural communities and I’ve spent half a lifetime trying to persuade people that it is possible to deliver the homes to the people that need them, in ways that don’t destroy places but actually enhance them. “I really like this development at Clayfields. It demonstrates that it is possible to create homes that fit within the landscape of the local community that people, whatever their background or needs, will be proud to live in.” The brand new Clayfields site aims to bridge the gap between quality and affordable housing in the area, encompassing both social rental and low-cost private homes, as Trent & Dove recruited the expertise of inspirational home designers and developers Maplevale. The move comes as South Derbyshire District Council revealed a lack of affordable housing in Repton in their Local Department Framework. Attending on behalf of South Derbyshire Council, local Councillor Neil Atkin said; “We are standing on a site looking towards the future, and a scheme which shows an outstanding partnership between a privately owned company, Trent & Dove, and South Derbyshire District Council, to build new homes in a rural village. Today, Repton is seen as a key service village, with a vibrant community that has access to many amenities such as clubs, societies and shops. “South Derbyshire District Council would like to thank Trent & Dove, along with their chosen construction company, Maplevale Developments, for not only the development, but the building of more affordable properties in the area. Trent & Dove has demonstrated to us and identified the needs of their customers and remodeled their houses accordingly. They have delivered a successful five year development programme, ensuring that their properties by far exceed the government’s decent homes standards across their portfolio of 1000 properties across South Derbyshire.” Steve Grocock, Director of Property Services at Trent & Dove goes on to explain: “Affordable homes in rural, sought-after locations means that families can continue to live in the same area through the generations. They could provide a home for young people, low-income households or vulnerable people who would have otherwise had to move out of the area and away from where they call ‘home’.” The site boasts 24 stylish homes and apartments, designed and built by Maplevale Developments, each one sympathetically aligned with the local architecture and pastoral surroundings. The specification of each home has set a new level of quality in private and affordable housing, as Maplevale’s high standards stay consistent on every build, whether privately owned or tenanted. Trent & Dove has already sold two low cost shared ownership homes on the Clayfields Repton site, and many of the houses are rented, offering a more affordable option to buying. Friends, Charlotte Brown, mother to Elijah aged 1, and Samantha Cassidy, mother to Archie aged 2 and five months pregnant with her second child, have both privately rented on the Clayfields estate since August, seeing it as an opportunity to stay in the area they grew up in. Samantha explains; “I’ve lived in Repton all my life, and my family all live just down the road, so I was very keen to stay in the area. The new Clayfields estate has given my family the option to rent in an area that is seriously short of housing, and my children can now grow up in a lovely area with great schools.” Maplevale Developments is also celebrating its completion of their 100th affordable house at Clayfields and has pledged to build a further 120 affordable homes in the East Staffordshire and South Derbyshire area as part of Trent & Dove’s commitment to creating 600 affordable homes over the next five years. Ian Reynolds, Director of Maplevale Developments, explains: “This is the third development we have completed in conjunction with Trent & Dove over the past 12 months. By building quality, affordable homes in areas of high demand, the local community becomes more diverse, welcoming and retaining residents in desirable areas who would have been otherwise unable afford their own home, often through no fault of their own. “In order to preserve long-standing, communities that are the heartbeat of every village, we need to make sure younger generations have access to quality homes at a price they can afford. Without this, young home buyers will move out of the area to look for a more affordable option, resulting in aging village communities that are separated from their growing families. “All of our homes are designed to have kerb-appeal, with well-planned layouts, exceptional quality finishes, low heating costs and picturesque external recreational spaces, all in compliance with exacting building codes. “We believe this site is the first of many rural exception developments in the area and we are currently planning schemes in nine other villages in Derbyshire and Staffordshire to build upon the success of Clayfields Repton.” For more information please contact Katie Whirledge on kt@papillonpr.co.uk or call 01543 898 195.
