Large practices reach a plateau, with no expected change in workload Confidence in private housing sector weakens Growth in workloads still positive at 8% The RIBA Future Trends Workload Index changed little in August 2015, dropping one point to +21. All nations and regions in the UK
18 June 2016 – by Mike Cobb Oaktree Capital Management’s winning bid for Nama’s projects Emerald and Ruby is to be backed by Citi group. Oaktree Capital Management’s winning bid for Nama’s projects Emerald and Ruby is to be backed by Citi group. It is Citi’s first major finance
With average house prices of £364,429 that are nearly 11 times (10.68) the gross average earnings in the city, Oxford is officially the least affordable place to buy a home in the UK. This is partly due to it’s attractiveness to commuters working in London. Winchester (10.54), London (10.06), Cambridge
22 September 2016 | Herpreet Kaur Grewal Organic revenue in the EMEA facilities management sector will grow in the low to mid-single digits (including market share gains) over the next two years on the back of increased outsourcing, says Moody’s Investors Service in its latest report. Moody’s report is
©Bloomberg Commodity prices have been on a tear of late. Last year’s dogs, such as oil and iron ore, have soared. With oil approaching $50 a barrel this week, Goldman Sachs has turned more bullish on its prospects, and Chinese speculators have pushed up the price of iron ore by
Book Course HSL is to run a 1 day course on Manual Handling for Assessors. 19 October 2016 Introduction Manual handling is one of the main causes of musculoskeletal disorders (MSD), which are the second most common occupational injuries within the UK and make up nearly half of all work-related
Robert Walters, a surveyor that has been in operation conducting surveys around the world since the year 2000, has released figures this year that indicate that the salary earners working in the field of mid-level supplies will go up by a very significant 11 per cent. This is without a
Multidisciplinary engineering and consultancy firm – Meinhardt UK have been commissioned by Blakes Hotel to assist in bringing one of the world’s most distinctive five-star boutique hotels to Shoreditch. In December 2016, the scheme’s architect Kyson won the go-ahead from Hackney Council to proceed with the development – work is
It is clearly more important than ever before that the British Safety Council gets involved and committed to aiding various businesses in construction on how they can improve their safety measures in the workplace. Having been in place for an impressive total of 60 years, the British Safety Council will
Offsite Built – With the Guardian reporting this week that ‘from businesses to policymakers, there is growing interest in offsite built housing as a possible solution to the UK’s critical housing shortage’ whilst also questioning whether it is time for the offsite industry to go mainstream, it is increasingly arguable
Large practices reach a plateau, with no expected change in workload Confidence in private housing sector weakens Growth in workloads still positive at 8% The RIBA Future Trends Workload Index changed little in August 2015, dropping one point to +21. All nations and regions in the UK returned positive balance figures, with the North continuing to be the most optimistic about future workloads (returning a balance figure of +42). Practices in London (balance figure +17), the South (balance figure+12) and the Midlands and East Anglia (+14) are more cautious about workload growth over the next quarter. Large practices (51+ staff) indicated a plateau in workload levels, returning a balance figure of zero; small practices (1–10 staff) and medium-sized practices (11–50 staff) remain more confident about increasing workloads in the medium-term (balance figures of +18 and +36 respectively). Despite the recent change in our headline index, the forecast is firmly in positive territory; the value of actual work in progress is still growing at an annual rate of 8%. The private housing sector forecast continued its downward trajectory, falling to +18 in August (down from +23 in July). The public sector workload forecast also decreased, down to -4 in August from -1 in July 2015. The commercial sector workload forecast increased by one point to +14, while the community sector forecast was unchanged, standing at +1 in August. The RIBA Future Trends Staffing Index saw a modest decline this month, falling to +7 in August (down from +12 in July). 96% of surveyed practices nonetheless expect their permanent staffing levels either to increase or to stay the same over the next few months, indicating that the employment market for salaried architects remains buoyant. Medium-sized practices (with a balance figure of +32) and large practices (balance figure +20) are more likely to be actively appointing new staff than small practices, which returned a balance figure of +2 in August. RIBA Executive Director Members Adrian Dobson said: ‘After an optimistic spring and early summer, the profession appears to have paused for breath after a period of significant growth. This note of caution is most prominent in the South and East, which have so far seen the greatest growth, whilst confidence now seems higher in the northern cities. There is also a noticeable loss in confidence about medium term prospects for the private housing sector, with our practices suggesting that a temporary peak is being reached in this sector. ‘Commentary from practices suggests that the majority of firms are seeing solid growth in workloads, with a number reporting that market conditions are enabling them to negotiate better fee levels. There is plenty of anecdotal evidence of practices across the UK having difficulties in recruiting experienced staff with specific skill sets. The overall picture is one of continued increases in workloads, though with a consensus that in the coming months the pace of growth is likely to slow significantly.’ ENDS Notes to editors: 1. For further press information contact Callum Reilly in the RIBA Press Office: 020 7307 3757 callum.reilly@riba.org 2. The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members. Visit www.architecture.com Follow @RIBA on Twitter for regular updates www.twitter.com/RIBA 3. Completed by a mix of small, medium and large firms based on a geographically representative sample, the RIBA Future Trends Survey was launched in January 2009 to monitor business and employment trends affecting the architects’ profession. 4. The Future Trends Survey is carried out by the RIBA in partnership with the Fees Bureau. Results of the survey, including a full graphical analysis, are published each month at: http://www.architecture.com/RIBA/Professionalsupport/FutureTrendsSurvey.aspx 5. To participate in the RIBA Future Trends Survey, please contact the RIBA Practice Department on 020 7307 3749 or email practice@riba.org. The survey takes approximately five minutes to complete each month, and all returns are independently processed in strict confidence 6. The definition for the workload balance figure is the difference between those expecting more work and those expecting less. A negative figure means more respondents expect less work than those expecting more work. This figure is used to represent the RIBA Future Trends Workload Index, which for August 2015 was +21 7. The definition for the staffing balance figure is the difference between those expecting to employ more permanent staff in the next three months and those expecting to employ fewer. A negative figure means more respondents expect to employ fewer permanent staff. This figure is used to represent the RIBA Future Trends Staffing Index, which for August 2015 was +7 Posted on Wednesday 23rd September 2015 Source link
18 June 2016 – by Mike Cobb Oaktree Capital Management’s winning bid for Nama’s projects Emerald and Ruby is to be backed by Citi group. Oaktree Capital Management’s winning bid for Nama’s projects Emerald and Ruby is to be backed by Citi group. It is Citi’s first major finance deal since two senior members of its team were made redundant in April. Oaktree won the deal for the non-performing loans last week with a bid of around €800m (£633m), beating Lone Star and Cerberus and securing loans on assets in Ireland, Germany and the UK. Citi is putting together a deal in which it will provide a €520m loan-on-loan structure for around 65% of the total purchase price. The margin on the loan is 350bps over Euribor. The deal reaffirms Citi’s commitment to lending for the non-performing loan market despite the departure of Stuart Hoare and Tom Jackivicz, and fears that the business was moving out of large-scale lending in an effort to cut costs. All the content from this weekís magazine, including this article, is available in the new app. It will be financing the two portfolios which Oaktree is understood to have bought at a discount of around 83% on the €4.7bn combined face value. Emerald had a face value of around €2.5bn when it was launched and was secured against 236 properties, of which 80% were commercial. Ruby, at €2.2bn, is secured against 253 properties. Of these, 115 are residential. In 2015 Citi also financed the Sun portfolio of loans secured against 177 German properties that Oaktree bought from Commerzbank for €250m. Source link
With average house prices of £364,429 that are nearly 11 times (10.68) the gross average earnings in the city, Oxford is officially the least affordable place to buy a home in the UK. This is partly due to it’s attractiveness to commuters working in London. Winchester (10.54), London (10.06), Cambridge (9.9) and Bath (9.77) make up the top five least affordable cities. The London average figure disguises considerable variations across the capital with central boroughs being significantly less affordable than the Greater London average. Lichfield (7.53) and York (7.50) are the least affordable cities outside southern England. At the other end of the scale, with average property prices of £113,302, 3.8 times average earnings for the city, Londonderry is both the UK’s most affordable and least expensive city. Northern Ireland cities Belfast (4.42) and Lisburn (4.64) are the 4th and 6th most affordable cities respectively, due primarily to the relatively low house prices in the country. Northern English and Scottish cities make up the remainder of the top 10 most affordable cities. Bradford (4.31), Hereford (4.55), Durham (4.73), Lancaster (4.89) and Carlisle (5.03) in England. Stirling (4.11) and Glasgow (5.07) in Scotland. Source link
22 September 2016 | Herpreet Kaur Grewal Organic revenue in the EMEA facilities management sector will grow in the low to mid-single digits (including market share gains) over the next two years on the back of increased outsourcing, says Moody’s Investors Service in its latest report. Moody’s report is titled Facilities Management – EMEA Corporates, Business Services: Increased Outsourcing to Drive Growth Despite Emerging Market Headwinds. The report focuses on food service, cleaning, security, workwear and laundry services, as well as property management and integrated services. Martin Hallmark, a Moody’s senior credit officer and author of the report, said: “Facilities managers’ organic revenues will grow by one to 2 per cent above GDP as more companies outsource non-core functions, particularly in emerging markets. Although, this is likely to be dampened in the next one to two years by weak commodities and oil and gas markets slowing emerging markets’ growth.” Margins will remain relatively low but stable or growing as companies drive scale efficiencies. Customer retention rates and revenue diversity will remain high, although with intense competition on contract renewal. These trends will result in firms retaining solid credit characteristics overall, says the report. The larger more diverse players, such as Compass Group Plc, ISS Global A/S and Sodexo, are predicted to continue to demonstrate positive growth well ahead of GDP – benefiting from their scale advantages and revenue diversity. Greater potential earnings volatility could hit smaller facilities management companies, such as La Financière ATALIAN S.A. and Manutencoop Facility Management S.p.A., however, as they have higher country and customer concentration. Merger and acquisition activity will continue apace in the sector, although firms will focus on smaller mainly debt and cash-funded bolt-on acquisitions because of the greater number of opportunities, lower integration complexity, and lower valuations. Technology will be a key area of focus in coming years, leading to more collaboration between technology and the larger facilities players, as seen with the recent ISS and International Business Machines Corporation partnership in integrated facilities services and building management, states the report. Facilities Management – EMEA Corporates, Business Services: Increased Outsourcing to Drive Growth Despite Emerging Market Headwinds, is available on www.moodys.com Source link
©Bloomberg Commodity prices have been on a tear of late. Last year’s dogs, such as oil and iron ore, have soared. With oil approaching $50 a barrel this week, Goldman Sachs has turned more bullish on its prospects, and Chinese speculators have pushed up the price of iron ore by as much as 50 per cent. This rebound has led to strong gains in related stock market sectors. Energy and mining share indices have risen fastest, after trailing the entire market in 2015. You need JavaScript active on your browser in order to see this video. What has lured in the buyers? For one thing, some very depressed valuations made the decision to dive back into commodity stocks a lot easier. One measure on which the two sectors look historically cheap is the price-to-book ratio. Some investors prefer this to other price ratios as the net asset (or book) value of companies tends not to change dramatically every year. In the case of the metals and mining sector, the PB ratio in February touched lows not seen since 1979. Of course, there’s a reason for that. Return on equity (profits as a percentage of book value) has also tumbled to historic lows, below zero. Understandably, the market will not pay up for companies apparently destroying value. Also, an ultra low PB ratio may simply indicate investor distrust of the value of that equity. But this measure does not capture the rising amount of debt in these companies. Nor does it take account of cash flow, which can be a useful indicator given the volatility of earnings at these companies, due to their occasional asset impairment charges. Looking at enterprise value (which includes net debt) together with a proxy of cash flow can give a better read of cheapness. And among energy and mining groups, EV as a multiple of earnings before interest, tax, depreciation and amortisation has risen. For oil stocks, this ratio is near its high for this millennium. That makes sense: oil and gas producers carry a lot more debt than in previous cycles. Net debt to ebitda has soared. Of course, cyclicals usually look expensive at the bottom of the cycle and higher commodity prices would boost cash flows. What’s really needed, though, is years of balance sheet repair. alan.livsey@ft.com Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link
Book Course HSL is to run a 1 day course on Manual Handling for Assessors. 19 October 2016 Introduction Manual handling is one of the main causes of musculoskeletal disorders (MSD), which are the second most common occupational injuries within the UK and make up nearly half of all work-related ill health seen by general practitioners (GPs) are MSD related. The most recent HSE statistics on MSDs show a 20% increase in MSDs with 184,000 new cases (2013/14), around 80 per cent of which are attributable to work conditions. Prevention and control of work-related musculoskeletal disorders (MSD) is a major priority and as such HSE have published a simple but effective risk assessment method called the MAC tool. This enables risk identification of key manual handling risk factors so that these can be eliminated or managed in the most cost effective way. This course will equip you with the knowledge to help recognise, assess and reduce manual handling risks in your organisation. It is suited to employers and employee representatives who intend to begin the process of manual handling risk assessment and control within their companies. It will also benefit those already involved in manual handling risk reduction who require more formal or in-depth training in this subject, including training in the use of specific manual handling assessment tools. The course will cover: Principles of manual handling Understanding injuries Common types of injuries Legal aspects Key risk factors Manual handling risk assessment (MAC and L23) Pushing and pulling Control and reduction of risk Key principles of good handling techniques Case studies Presenters include: • Matthew Birtles, HSL – Ergonomics specialist in MSDs Venue The course will be run at the HSL laboratory in the spa town of Buxton. Buxton is in the heart of the Peak District and has good links to mainline train stations and Manchester International Airport. Details of hotels in the Buxton area can be found at www.visitbuxton.co.uk Cost The cost of this course is £425 per person (includes course notes, lunch and refreshments). Book Course Please note the invoice option is not available within 4 weeks of the course date, or for overseas customers. If you are selecting the invoice option for payment, it will be mandatory to input a purchase order/reference number as we are unable to process booking forms without this. For further dates and additional information email: training@hsl.gsi.gov.uk or contact the Training & Conferences Unitat HSL directly on +44 (0)1298 218806. Back to Health & Safety Training Courses Back to the top Source link
Robert Walters, a surveyor that has been in operation conducting surveys around the world since the year 2000, has released figures this year that indicate that the salary earners working in the field of mid-level supplies will go up by a very significant 11 per cent. This is without a doubt a very welcome piece of news to salary earners in this bracket of the work industry as it contrasts greatly to the mere 4 per cent average rise in the salaries of people in other senior positions in work. This evidence is clearly a sunnier alternative to the gloomy news and prospects that have been put in place as a result of fluctuating economies, the EU referendum and the surprising election results in the United States. This is clearly an encouraging sign to employers in the field who will want to encourage the popularity of the profession, and it is clear that the amount of applicants for positions in this sector is consistently high, due to the lucrative salary schemes available. In addition to this, members employed in the contract acquisition sector will see their annual salaries also rise, to slightly less impressive degrees, to a total of 8 per cent. As Mister Neil Morgan of the managing team of Robert Walters explains, it is evident that this strengthening of salary growth is a good sign for the contracting industry and a sign that there will still be a large demand for such senior positions in the years to come. Such skills as time management and an ability to multitask and juggle a number of different duties are essential to the job description of these senior roles in the business, and these are skills at least that will not be in shortage among those members of the British population wanting to get their foot in the senior careers door. And with an 11 per cent increase, who wouldn’t want to give it a go at some point in their life?
Multidisciplinary engineering and consultancy firm – Meinhardt UK have been commissioned by Blakes Hotel to assist in bringing one of the world’s most distinctive five-star boutique hotels to Shoreditch. In December 2016, the scheme’s architect Kyson won the go-ahead from Hackney Council to proceed with the development – work is now due to start on site early 2017 and to complete towards the end of 2018. Meinhardt’s London team will be responsible for the structural and MEP work on the project. We are delighted to have been appointed on this fascinating engineering project. Patrick Hayes, a Director at Meinhardt UK, comments: “We are delighted to have been appointed on this fascinating engineering project, which will completely transform the site and add impetus to Shoreditch’s rapidly developing skyline.” The site is in the London Borough of Hackney and occupies a large corner frontage to Corsham Street and Baches Street. It involves the demolition of the existing Satellite House – a former telecommunications centre and office block unused for 18 months – and the construction of the new eight-storey hotel. The 87-room boutique hotel will comprise three individual cubes that intersect to form a whole. The shape, composition and materiality of these relate each of them to different elements of the surrounding urban fabric, from the nearby traditional Victorian warehouses to the new 11-storey student accommodation block opposite. Building materials will be a mix of brick, concrete, steel and glass, creating an industrial aesthetic that ties in with the heritage of the area while maintaining a resolutely modern and minimalist approach.
It is clearly more important than ever before that the British Safety Council gets involved and committed to aiding various businesses in construction on how they can improve their safety measures in the workplace. Having been in place for an impressive total of 60 years, the British Safety Council will deliver its event on the 22nd February of this year. Taking place over the course of half of a day, the event will feature various talks and speeches by leading professionals in the field that will range from members of the British Transport Police all the way to Olympic champions such as Nathan Douglas. It is evidently hoped that the site’s location next to Hilton Manchester in the Piccadilly area will act as a welcome reminder to businesses and individuals around the world that it is more important than ever for them to commit to installing health and safety measures. Indeed, with the hope that the event will be widely attended by members from all over the country, it is clear that the event is set to be a success and welcome news that the safety of businesses in the industry are being held in high regard. It is evidently clear that the British Safety Council is incredibly committed to ensuring and promoting the safety of individuals in the workplace all over the place. Through its investment in social media and concern for the promotion of such events as the Manchester conference, it is clear that the British Safety Council will consolidate its 60 years as one of the most dedicated services to enabling the security of workers all over the United Kingdom for the challenging years ahead that are to come. Indeed, it will be more vital than ever for them to do this what with the turbulence and civil unrest all over the country and the rest of the world today.
Offsite Built – With the Guardian reporting this week that ‘from businesses to policymakers, there is growing interest in offsite built housing as a possible solution to the UK’s critical housing shortage’ whilst also questioning whether it is time for the offsite industry to go mainstream, it is increasingly arguable that offsite manufactured building technology will take the UK construction sector by storm. Although some may state that the offsite industry is still in its infancy, and is classified as a cottage industry, others, like Tom Bloxham MBE Chairman of Urban Splash, are paving the way in highlighting the potential of the industry. The high-profile marketing campaign surrounding Urban Splash’ modular hoUSe projects has highlighted the benefits of using offsite technology whilst also combatting archaic views of modular homes being restricted to post- war temporary accommodation solutions. The glossy campaign has catapulted the image of the industry and informed the discussion with hard evidence of the benefits. Offsite built manufacture is a progressive step that helps to challenge outdated assumptions about the construction sector and encourage more young professionals into the industry. The sector will generate savings in the long term, initially it will require investment but the overwhelming message has been that companies at every level of the supply chain should invest in offsite manufacture and construction processes sooner rather than later, or risk being left behind. Explore Offsite at Ecobuild will form a ground-breaking showcase of offsite built construction solutions that will deliver a comprehensive display of offsite technologies and full-scale construction of buildings using offsite technology. This special feature will demonstrate the very latest offsite innovations and will be supported by a comprehensive range of free Offsite Technology Masterclasses. Not only will be Explore Offsite at Ecobuild masterclasses provide you with a key opportunity to discover and expand your knowledge of the ever-evolving sector by taking advantage of the Q&A sessions within each Masterclass, the exhibition itself will be brimming with offsite industry leading organisations who will be able to educate, and inform you, about utilising offsite manufacture and construction within your own projects. Companies you will be able to meet: B&K Structures British Gypsum British Precast EOS Facades Hadley Group Medite Smartply Portakabin SIG Offsite Unilin Wernick For more information, and to book your free place, please visit www.ecobuild.co.uk/exploreoffsite