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June 16, 2016

Automotive company fined after worker loses finger

A Birmingham-based automotive company has been fined after a worker lost his finger. Birmingham Magistrates’ Court heard how a welder at Lander Automotives Limited was expected to work on a variety of jobs as required by production. While he was working on a machine the employee’s glove became entangled in

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Another Etex acquisition

Dry wall products supplier Siniat, an Etex company, has taken over light steel frame specialist EOS Facades. EOS said that under Siniat ownership, its ambition to become the leading player in steel frame systems would be accelerated. At the same time, Siniat’s parent company, Belgian materials group Etex, has pooled

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Sale success for multi-let office building in Rugby

Eleven Arches Pension Fund, represented by international real estate advisor Savills, has sold Eleven Arches House in Rugby to Foxhill Investments Limited for an undisclosed sum in a deal reflecting a net initial yield of 8%. The 14,113 sq ft (1,311 sq m) office building is multi-let to British Gas,

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Exclusive: Nine contractors scoop £500m Cambridge uni framework

Balfour Beatty, Bam, Bouygues, Conamar, Kier, Laing O’Rourke, Quinn, RG Carter and SDC have won places on the framework, which is part of Cambridge University’s current £600m capital building programme. The framework will last for two years, with the potential for an extension of a further three years. The agreement

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Just 7% Of Young People Plan To Do An Apprenticeship

The latest survey by YouGov shows that only 7% of young people are planning on doing an apprenticeship. Commissioned by support services firm Interserve, the online survey was conducted among a representative quota sample of over 5,000 people. The survey aimed to look into how apprenticeships are views by 13-18

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London City Fringe Market Draws Level With City Core

London’s City Fringe market has seen average Grade A rents go up by 87% over the course of the last six years, according to international real estate advisor Savills. The best new buildings are now trading at just a 3.5% discount to the equal quality of building in the City

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Danish Contractor Hoping For ‘Remain’ Vote

Danish contractor firm, Burmeister & Wain Scandinavian Contractor (BWSC) says it is fearful of a Brexit vote on June 23. BWSC Chief Executive, Anders Heine Jensen, said he is ‘crossing his fingers’ for the UK to vote to remain in the European Union. Mr Jensen said that if Britain elects

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Ashtead Increases Its Dividend As Profits Continue To Rise

Equipment rental firm Ashtead has raised its dividend as its profits continue to soar. The group also announced a £200 million share buyback earlier in the week after going against the tide of its publicly listed peers and posted a 24% increase in profits for the year. The company, which

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Insurers Account For A Third Of Major Lenders

Insurance companies now make up a third of major lenders in the UK real estate market, as they continue to grow their presence. Insurers account for nine out of the market’s 28 big ticket lenders and Savills’ 2016 Financing Property report states that the following companies all originated and held

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Latest Issue

BDC 318 : Jul 2024

June 16, 2016

Automotive company fined after worker loses finger

A Birmingham-based automotive company has been fined after a worker lost his finger. Birmingham Magistrates’ Court heard how a welder at Lander Automotives Limited was expected to work on a variety of jobs as required by production. While he was working on a machine the employee’s glove became entangled in the drill bit. He suffered partial amputation to the third finger on his right hand. An investigation by the Health and Safety Executive (HSE) into the incident which occurred on 17 June 2015 found that the company failed to provide adequate training, a safe system of work, a risk assessment or method statement. Lander Automotive Limited, of Clapgate Lane, Birmingham, pleaded guilty to breaching Section 3(1) of the Health and Safety at Work etc. Act 1974, and was fined £27,000 and ordered to pay costs of £1,574 and a £120 victim surcharge. For further information good work practice visit: http://www.hse.gov.uk/humanfactors/topics/good-practice-guidelines.htm Notes to Editors: The Health and Safety Executive (HSE) is Britain’s national regulator for workplace health and safety. It aims to reduce work-related death, injury and ill health. It does so through research, information and advice, promoting training; new or revised regulations and codes of practice, and working with local authority partners by inspection, investigation and enforcement. www.hse.gov.uk More about the legislation referred to in this case can be found at: www.legislation.gov.uk/  and guidance at HSE news releases are available at http://press.hse.gov.uk Journalists should approach HSE press office with any queries on regional press releases. Source link

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Another Etex acquisition

Dry wall products supplier Siniat, an Etex company, has taken over light steel frame specialist EOS Facades. EOS said that under Siniat ownership, its ambition to become the leading player in steel frame systems would be accelerated. At the same time, Siniat’s parent company, Belgian materials group Etex, has pooled Siniat, EOS and Promat into a single new division called Etex Building Perfromance. The division will employ more than 500 people, with major manufacturing sites in Bristol, Yorkshire and County Durham. It will be led by Neil Ash, the managing director of Siniat UK, who becomes head of Etex Building Performance UK.  Neil Ash said: “Our vision is singular – to be the leading expert in dry construction, concentrating our efforts on creating solutions for the buildings of tomorrow.  The three brands within Etex Building Performance complement each other and are well known for their innovation, high-quality manufacturing and technical know-how. “By combining forces we will provide pioneering solutions and industry-leading technical expertise, backed by excellent customer service. From working with specifiers at the design stage through to providing subcontractors with dedicated technical on-site advice, Etex Building Performance will support its customers from the initial phase of a project, through to completion. “As recognised and successful brands in their own right, each will continue to trade separately in the UK as Siniat, Promat and EOS Facades. Steve Thompson, managing director of EOS Facades, said of the takeover: “This as an investment for the future and for manufacturing jobs here in County Durham. EOS Facades is an ambitious company and this deal will open up further opportunities for investment and innovation to ensure we remain at the forefront of research and development and to meet the exacting demands of the construction industry.” Etex is also the parent company of roof tiles company Marley Eternit, which was in the new yesterday for taking over roof batten maker John Brach & Co.       This article was published on 15 Apr 2016 (last updated on 15 Apr 2016). Source link

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Sale success for multi-let office building in Rugby

Eleven Arches Pension Fund, represented by international real estate advisor Savills, has sold Eleven Arches House in Rugby to Foxhill Investments Limited for an undisclosed sum in a deal reflecting a net initial yield of 8%. The 14,113 sq ft (1,311 sq m) office building is multi-let to British Gas, Heart of England Training and MTR Corporation Ltd with an weighted average unexpired lease term of 7.5 years (four years to break).  It is located on the A426, one of the main arterial routes from Junction 1 of the M6 to Rugby town centre. Ned Jones, investment director at Savills, comments: “Eleven Arches House offers an attractive yield and generated significant interest, reflecting the strong investor appetite for well-let out of town office assets.  We are delighted with the swift result achieved on behalf of our client.”  Foxhill Investments Limited was represented by Harris Lamb. Source link

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Exclusive: Nine contractors scoop £500m Cambridge uni framework

Balfour Beatty, Bam, Bouygues, Conamar, Kier, Laing O’Rourke, Quinn, RG Carter and SDC have won places on the framework, which is part of Cambridge University’s current £600m capital building programme. The framework will last for two years, with the potential for an extension of a further three years. The agreement has an overall value of £500m. The framework is broken down into three value bands: lot one, for projects ranging between £250,000 and £5m; lot two, for jobs in the £5m-£30m bracket; and lot three, for work valued at £30m-plus. Conamar, Kier, Quinn, RG Carter and SDC have bagged places on the first lot, with Ashe Construction and Barnes named as reserves. Kier, RG Carter and SDC will deliver projects ranging from £5m to £30m in the second lot, with Balfour Beatty, Bam Construct, ISG and M+W Group as reserves. Balfour Beatty, Bam Construct, Bouygues, Kier and Laing O’Rourke have won places on the final lot, delivering projects worth more than £30m. The framework covers the construction of new laboratories, lecture spaces and libraries as well as work on sports facilities, catering, accommodation and listed buildings and conservation areas. Kier construction eastern managing director Mark Dady said the group was “extremely pleased” to have been awarded a place on the framework. He said: “We have an excellent working relationship with the university and are looking forward to the next phase of work with them.” Source link

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Just 7% Of Young People Plan To Do An Apprenticeship

The latest survey by YouGov shows that only 7% of young people are planning on doing an apprenticeship. Commissioned by support services firm Interserve, the online survey was conducted among a representative quota sample of over 5,000 people. The survey aimed to look into how apprenticeships are views by 13-18 year olds in secondary education, their parents and UK employers, and was carried out from April 8-18 this year. The main finding of the study was that just 7% of the young people who took part in the poll intended to take up an apprenticeship, whereas some 72% of respondents say they are intending to go to college or university. Of the parents surveyed, only 27% said they thought that an apprenticeship would be the best path for their children to take in pursuing their future career, while 42% thought that a university degree would be the best option. The poll also highlighted a clear lack of awareness from small and medium-sized enterprises (SMEs) about the ranging types of apprenticeship schemes that are available. Just 32% said that they have heard of a higher or degree level apprenticeship, while 46% of large firms also said they were aware of them. The findings of the study also suggest that there is much work ahead in making young people more aware of the options available to them in finding career opportunities through apprenticeship schemes. Furthermore, the poll also found evidence of a North-South divide in young people and employers’ attitudes towards apprenticeships, with those in the South preferring to pursue a university degree, whereas those in the North were more open to the idea of apprenticeship schemes. This is highlighted by the fact that just 7% of businesses based in London give credit to qualifications gained from work based learning, whereas that figure stands at 19% in the North East and 14% in the West Midlands.

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London City Fringe Market Draws Level With City Core

London’s City Fringe market has seen average Grade A rents go up by 87% over the course of the last six years, according to international real estate advisor Savills. The best new buildings are now trading at just a 3.5% discount to the equal quality of building in the City Core, which produces a saving of around £1 per sq ft. Whereas, the once ‘cheap’ Central London office location has grown into a leading tech address and Savills says this success will continue with several new mixed use projects under development and more in the pipe line. The research by Savills shows that in the first quarter of the year, average Grade A rents in the City Fringe reached £59.42 per sq ft, in comparison to the £61.60 per sq ft rate for the City Core’s non-tower Grade A office buildings. This has been accelerated by new office developments such as EC1, Crosstree’s Bower Development and Derwent’s White Collar Factory, along with key deals to CBS Interactive, Stripe Limited, BGL Group and Adobe. Savills’ research team associate, Ben Raywood, said that the City Fringe has emerged as a fall-out office location which offers low rents to the West End and prime City Core markets. He said that the growth has come in conjunction with the tech sector’s success to become the latest phenomenon in the offices market in London and a business location recognised throughout the world. Mr Raywood added that those landlords who have adapted their buildings to suit the new generations of prevalent digital and tech occupiers have seen the best rents, with a likely continuation for the ‘right’ buildings to see growth and strong rents. The Savills 12 Cities report states that the City Fringe rental increase is not only evident in London, as the findings show that digital, creative and tech office rents in San Francisco and Hong Kong also rose by 48% and 52% respectively in the period of December 2008 and December 2015.

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HSE Supports Introduction Of ‘MOT Style’ Landlord Gas Safety Record

The Health & Safety Executive (HSE) has supported calls for the introduction of an ‘MOT style’ gas safety record for landlords. The campaign for the MOT style system for yearly gas safety checks for landlords has been proposed by the Association of Gas Safety Managers (AGSM), and is now backed by the HSE. The group has already begun a consulting process on the proposed change and since it launched the campaign in November 2013, the AGSM has joined forces with Home Group, among others, to raise awareness of the benefits of the MOT system for the Landlord’s Gas Safety Record (LGSR). If the move to an MOT system was approved, it would mean that gas safety checks would be able to be carried out up to two months prior to the due date, while the due date would not change from year to year. AGSM Chief Executive Officer, Claire Heyes, said that the firm believes the best way to make major savings in gas access is through a switch to an MOT system throughout the industry. She believes that such a system would improve landlords’ productivity, permit a bigger focus on other areas of safe affordable warmth, make things clearer for vulnerable and elderly tenants, improve cooperation with tenants and plan servicing for the summer period. Meanwhile, Stuart Kitchingman, of the HSE, confirmed the group’s support of an MOT style system when speaking at this year’s AGSM Gas Safety Management Conference. The resultant meetings between HSE and the AGSM have agreed that they are to put in place a thorough consulting process and will assist with the additional approval with an impact assessment. Home Group Chief Executive, Mark Henderson, commented that the Gas Access Campaign has ensured that the issue of yearly safety checks remains high on the agenda. He added that the proposed MOT style system will provide a considerable change that with help to improve safety.

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Danish Contractor Hoping For ‘Remain’ Vote

Danish contractor firm, Burmeister & Wain Scandinavian Contractor (BWSC) says it is fearful of a Brexit vote on June 23. BWSC Chief Executive, Anders Heine Jensen, said he is ‘crossing his fingers’ for the UK to vote to remain in the European Union. Mr Jensen said that if Britain elects to leave the EU then it could mean that his company faces a significant reduction in business. The firm operates, builds, develops and owns high performance diesel, biogas and biomass power plants and currently has eight UK based projects, including the recently built straw-fuelled Brigg Renewable Energy Plant in Lincolnshire. A number of the UK’s largest construction firms are subsidiaries of companies from mainland Europe, such as Vinci, BAM, Bouygues, Amey (Ferrovial) and Skanska. In the period from January 2015 to April 2016, the 10 largest construction companies in the UK with headquarters away from Britain won £7.3 billion worth of construction deals between them. Michael Dall, an economist from the Barbour ABI construction intelligence company, said that these 10 firms already have well established arms in the UK, although the EU referendum could result in significant changes to the business environment. He said that this may result in these multi-national firms considering their construction pipelines in the UK market in the future. If the result is a Brexit, then he said that there may be potential consequences for these 10 firms, along with other construction companies based in the EU who work in Britain. Mr Dall added that a ‘leave’ vote may also result in possible issues for big ticket projects in the UK such as HS2, as this scheme has received million pound bids from various EU based firms to work on the development. However, BAM UK’s Chief Executive said earlier in the year that he does not anticipate his company to be affected in a negative way by a vote to leave the EU.

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Ashtead Increases Its Dividend As Profits Continue To Rise

Equipment rental firm Ashtead has raised its dividend as its profits continue to soar. The group also announced a £200 million share buyback earlier in the week after going against the tide of its publicly listed peers and posted a 24% increase in profits for the year. The company, which is listed in the FTSE 100 and conducts 80% of its business in the US, reported a £617 million profit before tax for the year up to April 30. In particular, a strong fourth quarter and improved margins meant an increase in revenue by 19% to £2.5 billion, while profits came in above the expectations of many analysts. Ashtead Chief Executive, Geoff Drabble, said that the company has enjoyed another positive year and that has carried on to this year with steady improvements seen in the first six weeks of 2016. This has resulted in confidence in the firm. He thinks that the construction sector, which provides about 45% of the company’s business, will see a continuation of moderate growth away from the residential sector. Mr Drabble added that those who had lived through 2009 and 2010 approach growth with great caution and don’t want to create another ‘bubble’. He believes that the growth seen is very responsible and the company chiefs expect it co continue for the next few years. The positivity coming from Ashtead is in contrast to many of its rivals who have suffered downbeat guidance and recent disappointing results. For example, America’s biggest rental group, United Rentals, reported a 20% decrease in first quarter profits for 2016, and cut full year forecasts. However, Mr Drabble responded to this by saying that the reason for this fall is specific only to that company and that it does not reflect the strength of the wider industry, where thousands of small business are dominating.

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Insurers Account For A Third Of Major Lenders

Insurance companies now make up a third of major lenders in the UK real estate market, as they continue to grow their presence. Insurers account for nine out of the market’s 28 big ticket lenders and Savills’ 2016 Financing Property report states that the following companies all originated and held two or more real estate loans more than £100 million in the year up to March 31: TIAA Henderson, Rothesay Life, Pricoa, MetLife, M&G Investments, Legal & General, ING, Aviva and AIG. In the big ticket market, the number of insurers now eclipses the six German banks, four US investment banks, four UK clearing banks, three alternative lenders and two other international lenders. In the UK real estate market, the activities of insurance companies have gone up significantly over the course of the last four years, lending £8.6 billion between them last year, which is a 58.5% rise on the previous year and a 238.2% increase over the last four years. In order to make sure that they match their yearly liabilities with interest paid by landlords, normally through long term deals, insurers have increased their activity in the real estate market. Insurance firms have gained their share in the market from traditional bank lenders, who have reduced their lending rates since the financial crisis. Senior Director at Savills’, William Newsom, who is the report’s author, said last year that the real estate lending market in the UK was in a ‘goldilocks period’, where it was not ‘too hot or cold’/ However he added that in last year’s final quarter, they witnessed an increase in margins and a fall in LTV ratios. Meanwhile, it has also been suggested that a potential Brexit from the European Union has caused foreign real estate investment firms to ‘pause’ on investments in the UK property sector, at least until after the vote on June 23.

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