24 March 2016 | Marino Donati Amey has been awarded a contract by Highways England to manage roads in the East Midlands. Under the contract, Amey will be responsible for maintaining nearly 230 miles of East Midland’s strategic road network under a new maintenance and response contract. Worth up
Halifax has announced today that it has cut the rate it pays on its Help to Buy ISA from 4% to just 2.5%. Those who already hold an account are still able to earn 4%, but could see a rate drop in the future. The rate cut now means that
Category: Construction Industry Today | Subscribe to Construction Industry Today Feed Published Wed, Apr 20th 2016 Huddersfield-based housebuilder SB Homes Ltd has started work on a new development, which will provide 60 much-needed homes for families and first-time buyers. Posted via Industry Today. Follow us on Twitter @IndustryToday SB
25 June 2016 – by Mike Cobb A new real estate-focused debt vehicle has listed on the main market of the London Stock Exchange having substantially missed its target capital raise. Hadrian’s Wall Secured Investments raised £80m – £70m less than its £150m target – as the market stuttered before
The government will introduce a transitional period for changes to the Renewable Heat Incentive tariffs for biomass combined heat and power projects. Legislation introduced in August this year to reduce tariffs for certain projects will be amended in favour of a transitional period as the sector moves
The Tenant Deposit Scheme has found that cleaning continues to take the lion’s share of deposit disputes, with a 50% rise seen over the last five years. According to the report, cleaning has consistently been the commonest dispute in cases brought to the TDS and arises in around half of
The value of contracts awarded for new office builds have soared to their highest levels since after the recession due to a surge in demand. In the first three months of this year, a study has shown that approximately £2 billion worth of office construction contracts were agreed. This figure
Sales of ‘Internet of Things’ (IoT) heating devices have risen by 3,000% in the last six years, with volumes set to keep rising by 40% this year, according to the latest report. MTW Research carried out the study into the UK smart heating market which suggests that smart heating controls
24 March 2016 | Marino Donati Amey has been awarded a contract by Highways England to manage roads in the East Midlands. Under the contract, Amey will be responsible for maintaining nearly 230 miles of East Midland’s strategic road network under a new maintenance and response contract. Worth up to £300 million over 15 years, including extensions, the contract covers networks including stretches of the M1, M69, M45 and M6. Amey said that as well as delivering routine highways maintenance such as defect repairs, emergency incident response, traffic management and severe weather service, the contract was one of a set of key new contracts in the East Midlands, where other supply chain partners will deliver design, construction works and specialist goods and services. Amey said it would play a leading part in supporting Highways England develop this supply-chain community. David Poole, director for commercial and procurement at Highways England, said: “The awarding of this new contract represents a significant milestone for Highways England, marking a real change in the way we have previously managed contracts.” “Collaboration with our supply chain is key to our new way of working in the East Midlands and we are looking forward to establishing a successful, long-term relationship with the appointed contractors.” Amey already manages and maintains the strategic network in the East of England in Areas 6 and 8 under the previous Asset Support Contract model. Source link
Halifax has announced today that it has cut the rate it pays on its Help to Buy ISA from 4% to just 2.5%. Those who already hold an account are still able to earn 4%, but could see a rate drop in the future. The rate cut now means that at 4%, Santander is the provider offering the highest rate, closely follwed by Virgin Money on 3%. Santander increased the interest rate on its Help to Buy ISA in March to match Halifax. A spokesperson from Halifax said: “We regularly review our savings range and make changes in line with the market and our competitors. “As the brand to offer a significantly higher rate of interest than its competitors when Help to Buy ISA launched in December 2015, we have seen unprecedented demand. This change maintains the rate for existing customers, and keeps Halifax within the top three rates when compared to its main competitors.” Source link
Category: Construction Industry Today | Subscribe to Construction Industry Today Feed Published Wed, Apr 20th 2016 Huddersfield-based housebuilder SB Homes Ltd has started work on a new development, which will provide 60 much-needed homes for families and first-time buyers. Posted via Industry Today. Follow us on Twitter @IndustryToday SB Homes began construction on Empire Works in February and is set to complete phase one later this year. The site, which sits alongside the canal in Slaithwaite, was once home to an engineering factory and has been disused for the past decade. The first phase will consist of eleven four-bedroom family homes, with phases two and three compromising a mixture of apartments and smaller family homes. Stephen Byram, director of SB Homes commented: ‘’As a company, we always seek out the best locations for developments. Empire Works is no exception – the site is in a stunning canal side setting, while just a two-minute walk from the village centre. ‘‘That’s what makes this development perfect for families, as it gives the best of both worlds – access to a thriving village, as well as a sense of peace and quiet.’’ But SB Homes is no stranger to developing in Slaithwaite. In 2015, the company built thirteen new homes at their Old Bank Works development and sold 90% of properties within just one month of putting them on the market. And with increasing demand for family housing in the area, SB Homes expects that Empire Works will sell just as quickly. Slaithwaite-based designer Steve Mitchell said: ‘’In the past few years we’ve seen an increasing demand for new homes. This is particularly noticeable in Slaithwaite, with some locals having to move away from the village due to the scarcity of housing. ‘’It’s not often that great homes come on the market in Slaithwaite, so we’re pleased that we’re able to help local families stay within the area that they’ve grown up in and love, in homes that are designed to blend seamlessly with their local conservation, environment and wider community.’’ This news follows the announcement of the Markit/CIPS construction purchasing managers’ index in early April, which reported the slowest growth in housing activity and employment within the housebuilding industry since January 2013. However, SB Homes is managing to buck this industry trend, as the company is looking to recruit a new technical driver and site apprentice. SB Homes will be holding an open weekend to showcase the new homes and take deposits from prospective buyers. Source link
25 June 2016 – by Mike Cobb A new real estate-focused debt vehicle has listed on the main market of the London Stock Exchange having substantially missed its target capital raise. Hadrian’s Wall Secured Investments raised £80m – £70m less than its £150m target – as the market stuttered before the EU referendum. It had been prepared to place up to £250m of shares, which are currently trading at the initial share price on listing of £1. Chairman of Hadrian’s Wall Secured, David Warr, said: “In an environment which has not had an IPO of a main market-listed investment company in 2016, the board is extremely pleased with the support for Hadrian’s Wall Secured Investments.” All the content from this weekís magazine, including this article, is available in the new app. The company will invest in secured real estate debt and is expecting 6% returns. It will invest through lenders such as Wellesley & Co, peer-to-peer lending platform Landbay Partners and online platform FundingKnight and claims to have a £500m pipeline of deals. The company is a spin-off of Hadrian’s Wall Capital, a debt investment company run by Marc Bajer, the former chief executive of Assured Guaranty and global co-head of debt and structured capital at Commerzbank. He works alongside Ron Miao, Hadrian’s Wall Capital’s chief operating officer and a former trader at Lehman Brothers and Citigroup. Winterflood Securities was the sponsor, financial adviser and bookrunner on the IPO. Source link
The government will introduce a transitional period for changes to the Renewable Heat Incentive tariffs for biomass combined heat and power projects. Legislation introduced in August this year to reduce tariffs for certain projects will be amended in favour of a transitional period as the sector moves towards a lower tariff, Jessie Norman MP, Parliamentary Under-Secretary for Industry and Energy acknowledged yesterday. During the transitional period until 31 March 2017, the Renewable Heat Incentive (RHI) tariff reductions will only apply to plants that produce 10 per cent power efficiency, with the remaining 90 per cent being heat. The previous reduction applied within 21 days of notification and affected projects with up to 20 per cent power efficiency. The Renewable Energy Association (REA) suggested that the changes put £140 million of low-carbon investment at risk but that the new transitional phase will allow many projects to be completed and restore investor confidence in the sector. REA renewable heat analyst Frank Aaskov said: “Transparency in government decision-making is key to maintaining the confidence of investors developing the UK’s much-needed low carbon infrastructure. “We welcome the proposed compromise announced today by Mr Norman. Critically, the transition period should create a runway in which projects that have been under development or construction, some for as much as two years, can be completed. “This proposal is a constructive step towards restoring the previously damaged confidence of investors in the biomass CHP sector.” Source link
The Tenant Deposit Scheme has found that cleaning continues to take the lion’s share of deposit disputes, with a 50% rise seen over the last five years. According to the report, cleaning has consistently been the commonest dispute in cases brought to the TDS and arises in around half of the cases they deal with (58%). In 2015, the proportion of disputes involving cleaning claims climbed again and is now at its highest level since the start of the scheme. The second most common cause of disputes is damage to property (52%), followed by redecoration (32%), gardening (17%) and rent arrears (10%). According to Imfuna Let, landlords and agents are increasingly faced with dirty properties at the check-out stage. Jax Kneppers, Founder and CEO of Imfuna Let comments: “Many tenants fail to leave their property in the same condition at check-out and are often very surprised when they are told that professional cleaning is required. Some tenants claim that cleaning is just normal ‘wear & tear’. If an area or item was clean at check in, it should be left clean at check-out. The most common cleaning issues centre around stained and marked carpets; ovens – which cause the most problems; heavy lime scale to kitchen and bathroom fittings – the response of tenants is often ‘it’s not my fault, this is a hard water area’; grease deposits throughout the kitchen, surfaces and cupboards may look clean, but will feel sticky to touch; thick dust & cobwebs, particularly around furniture and on the ceilings; and dirty windows that have obviously not been cleaned during the whole tenancy. It is so important that landlords and agents do a thorough check-in and check-out, so they have the right proof of condition at the start and end of a new tenancy agreement. If agents and landlords wish to make deductions for cleaning costs, they need to be careful to record the cleanliness of the property in sufficient detail, at the start and end of the tenancy. At the check-out stage, the tenant should be made aware of the areas requiring cleaning and the potential costs involved. Landlords and agents need to ensure any charges they claim, are a fair reflection of the property’s condition at the start of the tenancy. We know that landlords and agents using Imfuna Let have seen a 60% drop in cleaning disputes. We work with many landlords and agents and the majority have seen a vast improvement in the condition of their properties handed back at the end of the tenancy. This has in turn driven down the post-tenancy cleaning bills and reduced the number of disputes over cleaning.” Howard Lester, Director of Balgores Property Group comments: “The checkout is such an important part of the process, but is totally dependent on the quality and accuracy of the Inventory carried out at the start – not all inventories are equal! A detailed inventory and checkout with both words and pictures provides ultimate proof of condition, including cleanliness. Additionally, the fact that we visit tenants two weeks prior to the checkout and advise of likely deductions, has meant that we have reduced our disputes over cleanliness by over 85%.” Source link
The value of contracts awarded for new office builds have soared to their highest levels since after the recession due to a surge in demand. In the first three months of this year, a study has shown that approximately £2 billion worth of office construction contracts were agreed. This figure is on a par with the levels seen in the three years prior to the recession of 2008, according to research carried out by Barbour ABI, a construction industry analysis firm. The study indicates that the construction of new office buildings is under way throughout the UK, with most of the projects taking place in London, contrary to the belief that there has been a shift toward cheaper UK locations away from the capital. Meanwhile, property advisers JLL have conducted their own separate research and found that there has been a renewed demand for office construction in Leeds, Birmingham and Manchester, while Glasgow, Edinburgh and Bristol have also enjoyed a surge in office pre-lets. Another factor that has driven the surge in commercial construction is the shortfall of high quality buildings in popular locations, which has followed the reduction in bank lending seen in the years that followed the financial crash. However, Barbour ABI’s latest research suggests that construction companies are now seeing increases in activity, with the firm’s chief economist Michael Dall insisting that the picture is a positive one that will carry on for the rest of 2016 at least. Among the major office projects currently being constructed are the £90 million Waterloo Street building in Glasgow, while Forbury Place in Reading is estimated to be worth around £50 million. Barbour ABI has also forecast that Manchester will soon become one of the primary focus areas for new office construction, with the company suggesting that a further three million sq ft of office space will be required over the next decade to keep up with expected growth.
Sales of ‘Internet of Things’ (IoT) heating devices have risen by 3,000% in the last six years, with volumes set to keep rising by 40% this year, according to the latest report. MTW Research carried out the study into the UK smart heating market which suggests that smart heating controls are leading the rise. Growing consumer demand and development of new products have boosted IoT heating market sales and offers positive opportunities for manufacturers and distributors this year. The new report highlights the extensive growth in the sector over the last few years, with a rise in demand for smart controls, connected TRVs, smart boilers along with a number of heating related IoT applications and devices. Mark Waddy, a director at MTW, said that they have seen unprecedented growth in the smart heating sector across a range of products this year, with more manufacturers expanding their range each month and making the most of the smart heating market opportunities. The 120 page report declared that in terms of trends and size of a number of smart heating sectors, the market will become characterised by increasing connectivity and speculation as end users will require increased control and monitoring of their home heating appliances. MTW has identified features such as enhanced efficiencies, remote operation and geofencing as some of the primary benefits of smart heating that will drive growth in demand this year. Mr Waddy also commented that the findings indicate half of consumers say they will be looking to install smart heating systems in their homes over the next five year period, which highlights massive growth in the market that will drive growth demand this year. The report also reviewed the full UK IoT market and found that there are currently nearly 900 million IoT devices being used in the UK at present, with growth in connected devices rising by 13% this year.
