Santander cuts BTL rates and launches low-LTV range Santander has reduced two-year fixed buy-to-let rates, including a 60% LTV now at 1.94% and a 75% LTV at 2.29%, both with a 1% product fee. The Bank has also launched a range of fixed rate, low LTV products along with a
Rents in capital cities in Australia increased slightly by 0.1% in April, but overall rental rates edged lower and have now fallen by 0.2% over the past 12 months. This takes the average rental rate to $490 a week for houses and $467 a week for units across combined capital
The shortlist for the prestigious 2016 RIBA Stirling Prize for the UK’s best new building has been announced today (Thursday 14 July). The six shortlisted buildings will now go head-to-head for architecture’s highest accolade, to be awarded by the Royal Institute of British Architects (RIBA) on Thursday 6 October 2016.
BAE Systems has opened a new £15.6 million aerospace skills and training academy, marking the single biggest investment in aerospace skills in the UK. The group opened its new training academy at Samlesbury, Lancashire, to create a pipeline of talent that will be able to meet the future technical demands
Construction buyers are reporting a surge in workloads, with the strongest rise in activity last month since March. The Markit/CIPS UK Construction PMI ticked-up from 52.6 in October to 52.8 in November. Any reading above 50 represents a growing market. For the first time in half a year, commercial work
Transport for Greater Manchester (TfGM) is set to continue its collaboration with MPact Thales (MPT) and WSP Parsons Brinckerhoff to deliver the Metrolink extension to intu Trafford Centre via Trafford Park. Council leaders gave the green light for TfGM to continue the contracts for the delivery and management of the
Minister for employability and training, Jamie Hepburn MSP, was invited by Unite the Union and UCATT to celebrate the achievements of workplace learners at Aberdeen City Council, while also presenting them with certificates. Over the last two years the unions organised learning and support to 297 Aberdeen City Council workers.
The £25 million Biomass Energy Centre & District Heating Network for the University of St Andrews has been celebrated at one of Scotland’s most prestigious awards ceremonies, winning the Sustainable Development category of the Scottish Green Energy Awards. The project saw Vital Energi work in partnership with the University to
The value of new construction contracts awarded in the UK fell by 24% in November. Data collected by the Builders’ Conference shows that the total value of all new construction contracts awarded last month was £3.36 billion, in comparison with £4.4 billion in October, which is a fall of almost
Santander cuts BTL rates and launches low-LTV range Santander has reduced two-year fixed buy-to-let rates, including a 60% LTV now at 1.94% and a 75% LTV at 2.29%, both with a 1% product fee. The Bank has also launched a range of fixed rate, low LTV products along with a high LTV first time buyer exclusive – a 90% LTV two-year fix at 2.44%. Highlights of the low-LTV range include a ten-year fix from 2.79% at 60% LTV. Five-year fixed rates include a 2.09% at 60% LTV and a 75% LTV from 2.29%, available from purchase and remortgage. Santander’s two-year fixed rates now start from 1.34% at 60% LTV. In addition, purchase fixed products at 80, 85 and 90% LTV now come with added £250 cashback payable on completion. In line with changing market conditions, selected tracker rates have also been revised. Tracker rates are now available from 1.44% at 60% LTV, 1.54% at 75% LTV and 1.79% at 85% LTV. Miguel Sard, Managing Director of Mortgages at Santander, said: “With house-hunting set to resume in earnest in September and with more customers than ever wanting certainty over their monthly mortgage repayments, we have designed a competitive range of fixed rate products, giving our customers the peace of mind that they have locked into a competitive rate for a set period. “Our new products are designed to support all areas of the market, whether people are looking to buy for the first time, move up the housing ladder or invest in property” Source link
Rents in capital cities in Australia increased slightly by 0.1% in April, but overall rental rates edged lower and have now fallen by 0.2% over the past 12 months. This takes the average rental rate to $490 a week for houses and $467 a week for units across combined capital cities, according to the data from the latest CoreLogic monthly rental review report. Five of the eight capital cities saw a modest rise in rents over the past 12 months, including Sydney up 1.4%, Melbourne up 1.7%, Adelaide up 0.5%, Hobart up 1.1% and Canberra up 2.5%. Perth with a fall of 8.9% and Darwin with a decline of 12.6% both experienced large drops in rent rates and have collectively pulled the combined capital average lower while in Brisbane rents dropped by 0.6%. ‘We anticipate that the weakness in the rental market will persist over the year and rents will continue to fall over the coming months. The annual change in rental rates continues to be at its slowest pace since before 1996,’ said Research analyst Cameron Kusher. ‘At the same time last year, rental rates increased by 1.7% which indicates a sharp slowdown in rental growth over the past year,’ he pointed out, adding that factors contributing to a slowing in rental growth include falling real wages, excess rental supply in certain areas and lower rates of population growth, all of which have impacted on demand for rental accommodation. ‘With dwelling approvals at recent record highs and construction activity set to peak over the next 24 months, accompanied by many new properties still to settle, we anticipate that the weak rental market conditions will persist with rental growth continuing to slow and, or, fall in most capital cities,’ Kusher explained. He also pointed out that based on current market conditions, landlords won’t be in a position to lift rental rates and may actually need to reduce rents in order to keep their tenants. ‘We see renters as holding a stronger negotiation position and where they now have the potential to upgrade into higher grades of accommodation for a similar, or lower rents,’ Kusher said. Canberra is the only capital city where the annual rental change is currently stronger than it was a year ago. Kusher said this highlights the weakness in rental market conditions is being felt across all other capital city markets. With rental rates increasing in some cities in April, rates in Sydney, Adelaide and Hobart are at record highs. In all remaining cities, rental rates are now below their highs with the declines recorded respectively down 0.1% in Melbourne, 0.8% in Brisbane, 13.7% in Perth, 17.3% in Darwin and 5.4% in Canberra. The results show that as rental changes outpace home value changes, gross rental yields have trended lower and have hit record lows of 3.3% for houses and 4.2% for units. ‘In our two largest capital cities, we’ve seen rental yields move to record lows of 3.1% for houses and 4% for units in Sydney and in Melbourne, rental yields are at a record low 2.9% for houses and 4% for units,’ said Kusher. ‘With home values continuing to grow and rental markets expected to soften further, don’t be surprised if we see a further compression of gross rental yields over the coming months,’ he added. BOOKMARK THIS PAGE (What is this?) Source link
The shortlist for the prestigious 2016 RIBA Stirling Prize for the UK’s best new building has been announced today (Thursday 14 July). The six shortlisted buildings will now go head-to-head for architecture’s highest accolade, to be awarded by the Royal Institute of British Architects (RIBA) on Thursday 6 October 2016. Now in its 21st year, the 2016 RIBA Stirling Prize is sponsored by Almacantar. A partly-subterranean house on a sloping plot in the Forest of Dean (Outhouse); the conversion of an entire street of listed industrial buildings into a free public gallery for artist Damien Hirst’s private collection (Newport Street Gallery); a radical new landmark university building in Oxford (Blavatnik School of Government); a flagship high density housing development on a regenerated site in south London (Trafalgar Place), a new college campus that reinstates the value placed on civic education in post-industrial Glasgow (City of Glasgow College) and the restoration and significant reinvigoration of a Grade II listed building that is home to one of the world’s greatest research libraries (Weston Library). This is the 2016 RIBA Stirling Prize shortlist. Blavatnik School of Government, University of Oxford by Herzog & de Meuron City of Glasgow College, Riverside Campus by Michael Laird Architects & Reiach and Hall Architects Newport Street Gallery, Vauxhall, London by Caruso St John Architects Outhouse Gloucestershire by Loyn & Co Architects Trafalgar Place, Elephant and Castle, London by dRMM Architects Weston Library, University of Oxford by WilkinsonEyre Half the shortlist are education buildings, with one client, the University of Oxford, responsible for an unprecedented two of the six projects. The Blavatnik School of Government, a contemporary new building in a conservation area takes the traditional Oxford quad and tears up the rule book; Herzog & de Meuron have created a succession of wide twisting staircases, offset balconies and communal spaces that encourage greater debate and interaction for aspiring civil servants and politicians. Elsewhere in Oxford, WilkinsonEyre have opened up the Bodleian’s Weston Library to the world. This Giles Gilbert Scott Grade II listed gem was once rather insular but has been transformed by a bold new glazed mezzanine to reveal to the public the treasures contained inside. In Glasgow, the city benefits from a bold statement about the importance of civic education with the addition of City of Glasgow College, Riverside Campus; the architects Michael Laird Architects & Reiach and Hall Architects have created a new icon on the Glasgow skyline with a campus anchored by two generous civic spaces, a cloistered garden and grand hall. Newport Street Gallery in Vauxhall is the new home of artist Damien Hirst’s private collection. Three Victorian workshops that were once used to create sets for West End productions have been bookended by Caruso St John’s new buildings; the five buildings now joined together seamlessly to create superb gallery spaces and a beautifully curated new street. Trafalgar Place, the first results of the wholescale redevelopment of Elephant and Castle’s 1970s Heygate Estate, are on the shortlist. Here dRMM Architects have designed a flagship development of 235 high density, high-quality homes set amongst retained mature trees and extensive landscaping; bringing a sense of tranquillity to a very urban location. Clever use of brickwork gives the new buildings an identity of their own; eight types of brick have been used, each one chosen to reference neighbouring buildings. Outhouse by Loyn & Co is the first private house to feature on the RIBA Stirling Prize shortlist for 15 years (The Lawns by Smerin Architects was shortlisted in 2001). An exemplary concrete house on the Welsh borders, designed for a couple of retired artists, it delights with unexpected spaces, some underground, with a field as the roof. The architect’s use of light, air and vistas make the absolute most of its sloping site and wide views. The shortlist features projects by previous RIBA Stirling Prize winners, Herzog & de Meuron (Laban Dance Centre, 2003) and Wilkinson Eyre (Magna Centre, Rotherham, 2001; Gateshead Millennium Bridge, 2002). Reiach and Hall, Caruso St John and dRMM have all been nominated once before. Michael Laird Architects and Loyn & Co Architects are shortlisted for the first time. Speaking about the shortlist RIBA President Jane Duncan said: “The RIBA Stirling Prize is awarded to the building that has made the biggest contribution to the evolution of architecture in a given year. “Every one of the six buildings shortlisted today illustrates the huge benefit that well-designed buildings can bring to people’s lives. As seen at Trafalgar Place and Newport Street Gallery, they can breathe life and kick-start regeneration in neglected urban pockets to create new, desirable destinations and communities; as with Blavatnik School of Government, Weston Library and City of Glasgow College, they can give cities and institutions a new landmark to delight and draw in visitors, improve education potential, and increase civic pride. Meanwhile Outhouse provides a fantastic model for a private house – one that delights its owners and responds exceptionally sensitively to its treasured rural position. “With the dominance of university and further education buildings on the shortlist, it is clear that quality architecture’s main patrons this year are from the education sector. I commend these enlightened clients and supporters who have bestowed such remarkable education buildings. Sponsors, such as the Blavatnik Family Foundation, the Garfield Weston Foundation, and Damien Hirst are continuing in the proud history of private patronage of architecture, and their continued support contrasts the slump in publicly-funded architecture. “The shortlisted projects are each fantastic new additions to their individual locations – on an urban street, a city riverside, an estate regeneration, an historic city centre and a hidden part of the countryside – but their stand-out common quality is the inspiration they will bring to those who study, live, visit and pass by them, for generations to come. To me, this shortlist reflects everything that is great about UK architecture – a blend of experimental, artistic vision and a commitment to changing people’s lives for the better.” The
BAE Systems has opened a new £15.6 million aerospace skills and training academy, marking the single biggest investment in aerospace skills in the UK. The group opened its new training academy at Samlesbury, Lancashire, to create a pipeline of talent that will be able to meet the future technical demands of its military aircraft business. The Academy for Skills and Knowledge (ASK) marks the single biggest investment ever in skills for the UK aerospace sector. The 7,400m2 building has been designed and constructed over the last three years and is located on the Samlesbury Aerospace Enterprise Zone along with BAE System’s military aircraft advanced manufacturing centre. The centre will train all the graduates and apprentices in the BAE’s military aircraft business, while also providing ‘life-long learning and skills development activities’ for 13,000 employees for at least the next 40 years. The ASK will also act as a collaborative skills-hub for the North West’s engineering and manufacturing sector and offer Stem resources for school children from five to 14 years old. BAE Systems said that the technology in the ASK “mirrors the latest advanced manufacturing technologies and factory layouts” used at its own sites around the UK. This includes 3D printers, a manufacturing Kuka robot cell, a composites clean room, as well as a virtual reality ‘cave’ to train apprentices using immersive simulations that include viewing wiring on a military jet. In early 2017, the academy’s hangar will accommodate a full size Hawk jet for apprentices to understand the ‘engineering complexity and build of an aircraft’ first hand. Chris Boardman, managing director of BAE Systems military air and information, said that the ASK offers “an unrivalled modern engineering and manufacturing environment in which BAE Systems can deliver the highest quality training”. Northern Powerhouse minister Andrew Percy added: “Northern businesses have stablished themselves in the top flight of the aerospace industry and the new flagship Academy for Skills and Knowledge will offer excellent opportunities to our young people from the area.”
Construction buyers are reporting a surge in workloads, with the strongest rise in activity last month since March. The Markit/CIPS UK Construction PMI ticked-up from 52.6 in October to 52.8 in November. Any reading above 50 represents a growing market. For the first time in half a year, commercial work improved, though input cost inflation raced ahead to a five and a half year high. Group Chief Executive Officer at the Chartered Institute of Procurement & Supply, David Noble, commented: “The sector was on a firmer footing this month, as a slight uptick in overall activity and the strongest level of new business growth since March, resulted in more stability after a summer of uncertainty at the time of the EU vote. “Purchasing activity grew at its fastest pace since the beginning of the year as stronger workflows and tenders materialising into actual projects prompted increased levels of stock building. “This resulted in a sluggish response from suppliers, with the fastest lengthening of delivery times since June, as pressure on capacity and low stocks impacted on demand. “The impact of the weaker pound was widely felt in November, with cost inflation the strongest since early 2011. “Higher prices were reported for a number of materials including bricks, blocks and slate, as businesses struggled with managing costs. “Yet, in spite of this grip on precious margins, headcounts were increased and demand for subcontractors was also sustained.” However, manufacturing activity in the UK registered an unexpected decline in November due to a weak pound that is driving price pressures, industry data showed on Thursday. In a report, market research group Markit said that its UK manufacturing PMI fell to a seasonally adjusted 53.4 last month from a reading of 54.2 in October. Analysts had expected the index to increase to 54.5 in November. On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
Transport for Greater Manchester (TfGM) is set to continue its collaboration with MPact Thales (MPT) and WSP Parsons Brinckerhoff to deliver the Metrolink extension to intu Trafford Centre via Trafford Park. Council leaders gave the green light for TfGM to continue the contracts for the delivery and management of the scheme to design and construct the line at a meeting of the Greater Manchester Combined Authority (GMCA). MPT is a consortium of Thales, Laing O’Rourke and VolkerRail. Laing O’Rourke and VolkerRail carry on having responsibility for the design and construction of the civil engineering and track, while Thales will deliver the operating systems for the trams and WSP Parsons Brinckerhoff will continue as TfGM’s Delivery Partner. Trafford Park is the biggest major employment zone in Greater Manchester away from the city centre and is home to more than 1,300 businesses and over 35,000 jobs. It’s employees travel from across Greater Manchester and further afield. The new Trafford Park line – 3.4mile – 5.5km – will increase the size of the Metrolink network to more than 64 miles – 103km – served by 99 stops. It will branch off from the existing Pomona stop and call at six new tram stops at key destinations, including Wharfside, near to Old Trafford football stadium, the Imperial War Museum, key business areas through Europe’s largest industrial estate and to visitor destinations such as Eventcity and the intu Trafford Centre. TfGM’s Metrolink Director, Peter Cushing, said: “Together we have developed a tried and tested approach to delivering our award winning expansion programme. “We have achieved a phenomenal amount since 2008 with bigger and better things still to come so I’m pleased our award winning partnership will continue with the expansion of the Trafford Park line.” Bryan Glass, MPT’s joint venture board director, said: “The Laing O’Rourke, VolkerRail and Thales MPT consortium has successfully delivered three main contract extensions for Manchester Metrolink with the team on schedule to complete the Second City Crossing early next year. “We are therefore delighted that TfGM has appointed us as a trusted partner to deliver the latest phase of the Metrolink’s growth taking the line through Trafford Park to the Trafford Centre
Minister for employability and training, Jamie Hepburn MSP, was invited by Unite the Union and UCATT to celebrate the achievements of workplace learners at Aberdeen City Council, while also presenting them with certificates. Over the last two years the unions organised learning and support to 297 Aberdeen City Council workers. The education was delivered free to workers through financial support from the Learning Fund, which is supported by the Scottish Government and administered by Scottish Union Learning. UCATT organised onsite assessment for 23 Aberdeen City Council tradespeople, including joiners, painters, plasterers, slaters and masons. The scheme provided workers who had no formal qualifications with the chance to demonstrate their considerable skills and experience. The candidates were assessed at work and were also required to complete portfolios to obtain NVQ Level 2 qualifications. 10 places were funded by the council to ensure the workloads of candidates were suitable to show their wide range of skills, while the Learning Fund financed the remaining 13 places. Hepburn also enjoyed a tour of disused council properties to look at examples of the work carried out by the learners, which included brickwork, plastering and partitioned walls. Director of Scottish Union Learning, Wendy Burton, commented: “Scottish Union Learning congratulates workers in Aberdeen City Council on obtaining their qualifications. “This is an excellent example of trade union and employer partnerships, demonstrating how working together can overcome logistical workplace challenges and develop vital learning opportunities for workers.” Minister for employability and training, Jamie Hepburn, said: “Scottish Union Learning helps workers to improve their skills and qualifications as well as their prospects and prosperity. Today’s visit highlights what can be achieved when trade unions and employers work together to support Scotland’s workers. “Trade Unions play a vital role in up-skilling our workforce and delivering Scottish Union Learning so it is great to hear first-hand from those who have benefitted from the programme and to celebrate in their success.”
The £25 million Biomass Energy Centre & District Heating Network for the University of St Andrews has been celebrated at one of Scotland’s most prestigious awards ceremonies, winning the Sustainable Development category of the Scottish Green Energy Awards. The project saw Vital Energi work in partnership with the University to realise the their vision for a campus-wide low carbon energy system by refurbishing an Old paper mill building, transforming it into a state of the art Biomass based energy centre that will, in future, form the heart of a planned new technology focused business park. The new energy system feeds remote University Buildings more than 6km away through a highly thermally efficient 23km underground district heating network. The project will bring significant environmental benefits which will see carbon emissions reduced by over 6,000 tonnes per year. We’re delighted the project has been recognised. Mike Cooke explained, “We have worked closely with the University on this project since September 2014 and experienced first-hand their commitment to the environment and their enthusiasm to be involved at every step of the way. We’re delighted the project has been recognised at this prestigious event and we would like to acknowledge the patience and support of the local residents and project stakeholders who experienced disruption while the heat network was formed.” In addition to the building, mechanical and engineering works, Vital Energi took part in the Guardbridge Guarantee, helping the University to ensure that the project also delivered tangible benefit to Scotland and the local community. Vital Energi worked closely with all stakeholders including local residents and businesses to maximise local spending (73%) and local employment. 433 local people have benefitted from employment associated with the implementation and continued operation of the scheme over the next 5 years, 79% of those are employed live within Fife and Central Scotland. Professor Verity Brown, Vice Principal (Enterprise & Engagement), said: “To win such a prestigious award against competition from across Scotland is an outstanding achievement. The energy centre at the Eden Campus at Guardbridge is a remarkable engineering project which would not have been possible without our partners, Vital Energi. “It is a project that would not have possible without the forbearance and support of local people in and around Guardbridge.” www.vitalenergi.co.uk
The value of new construction contracts awarded in the UK fell by 24% in November. Data collected by the Builders’ Conference shows that the total value of all new construction contracts awarded last month was £3.36 billion, in comparison with £4.4 billion in October, which is a fall of almost a quarter. A similar rate of decline is seen when compared with the number of contracts awarded in the previous year, with the total value of new construction contracts signed in November last year standing at £4.37 billion. The slowdown in November has had an impact on the rolling year total for the BCLive league table, which at this time last year stood at a record-breaking £57 billion. Today, it is down by 23% to £43.8 billion. Graham Construction topped the league for November, with a £192.5 million total haul. The biggest of these was a £150 million order for the refurbishment and construction of several civic buildings for the London Borough of Barnet. However, the table was close at the top. Sir Robert McAlpine came in a close second with a combined £184m of orders, including a £100m order from Nikal for the construction of five blocks of flats at Birmingham’s Exchange Square. Galliford Try came in third place with £180.2 million. Neil Edwards, Chief Executive of Builders Conference, said: “The industry now enters the Christmas season and a month shortened by festive holidays and slowed by the usual round of office parties. So there is unlikely to be any last minute rally that will allow a gloomy year to end on anything other than a gloomy note. “And sadly, that gloom looks set to stick around like the hangover and expanded waistline that is part and parcel of the Christmas festivities. In 2015, the BCLive league table identified – on average – 850 new tenders each month. In 2016, that average has plummeted to 650. Projecting forward, that threatens to throw up a very tough start to the New Year.”
