Remortgage advice increased just before the referendum There is already news across the board that business is maintaining traction, with minimal transactions falling through New research from LMS has found that the percentage of remortgagors who chose a broker or adviser to help guide them through the remortgage
19 March 2016 – by Samantha McClary The results are in. It has been a whirlwind year for property. What has that meant for the top 100 real estate owners? Only the US, China, Japan and Germany have GDPs larger than the total assets held by Estates Gazette Global’s top
Costain, the smart infrastructure solutions company, has been awarded a technology contract by Highways England, to work in collaboration with them, the Department for Transport, Transport for London (TfL) and Kent County Council to design, install and implement one of the UK’s first pilot connected vehicle corridors on a live
Construction work to rebuild Copley Primary School and Moorside Community Primary School in Ovenden, Halifax, is underway. Pupils and staff are due to move into the impressive new buildings in the new term. Commissioned by Calderdale Council, the project received an £8.6 million investment that will see the creation of
Tekmar Group has signed a sale and purchase agreement for the acquisition of Subsea Innovation Ltd, subject to shareholder approval. The proposed acquisition represents the Group’s first transaction since its successful AIM admission in June 2018, launching the Group’s strategy to acquire offshore energy businesses which have a clear technology
Castlebridge Group have announced that they are on site developing a new 75-bedroom Hotel Indigo situated in the city centre of Chester. The first key milestone has been achieved with the erection of the steel super structure. The hotel will be managed by Castlebridge Hotel Management Limited who have a
The construction of three new Waterside Lodges at Center Parcs Elveden Forest is an ambitious architectural and engineering project. The stunning new lodges have been designed to compliment the woodland landscape in which they sit, while connecting guests with the surrounding natural environment. Wood was a natural choice of building
Midlands contractor G F Tomlinson has been appointed by Nottingham City Council as the main contractor for construction of the £30m Castle Transformation Project. Nottingham Castle will be closed for the next two years to become a world-class visitor destination, with improvements funded by the National Lottery through the Heritage
Remortgage advice increased just before the referendum There is already news across the board that business is maintaining traction, with minimal transactions falling through New research from LMS has found that the percentage of remortgagors who chose a broker or adviser to help guide them through the remortgage process shifted by 3% from 38% in May to 41% in June. This was the highest amount since December 2015 – as more people looked for reassurance and stability for their finances ahead of and immediately after the EU referendum. The uncertainty in the lead up to the vote also contributed to a push in the number of people remortgaging* and saw more homeowners opt for the security that comes from a longer-term fixed rate mortgage – even if this was more expensive in the short term. There was a bounce of four percentage points in the number of borrowers remortgaging to take advantage of a lower mortgage rate, rising to three in five of respondents (60%) in June from 56% in May 2016. Almost two in five (38%) who remortgaged in June did so to reduce their mortgage payments by up to £500 – up six percentage points from 32% in May 2016 – while more than a quarter (27%) remortgaged to increase the size their loan. 19% increased the size of their loan by more than £10,000. The most common use for money withdrawn by remortgaging was spending it on home improvements. More than a fifth (21%) used their equity in this way. One in ten (9%) borrowers used the cash from remortgaging to pay off other debts, up from the 7% who did so the month before. There was also a small percentage of borrowers (3%) who used the money to help their child up the property ladder. Andy Knee, Chief Executive of LMS, commented on the findings: “Although the effects of the UK’s vote to leave the EU are yet to be seen in the coming months following the referendum, there is already news across the board that business is maintaining traction, with minimal transactions falling through. This is fuelled, no doubt, by an overwhelming shortage of housing in the UK and in big cities and is likely to keep demand up and the market ticking over. The low interest rates currently available are very positive for homeowners and speculation of the base rate being cut to 0.25% is increasing the supply of these offers. However, longer-term fixed products are becoming increasingly popular as homeowners look to stability in these turbulent times. The desire for greater security and assurance is also reflected by the increase in people using a broker to help guide them through the remortgage process. As Mark Carney cautions fresh mortgage borrowers to be prudent and think about long term affordability, it’s important to remind remortgagors to do the same. It may be smarter at this point to capture savings from remortgaging quickly by lowering rates and your repayment amount instead of borrowing more.” Source link
19 March 2016 – by Samantha McClary The results are in. It has been a whirlwind year for property. What has that meant for the top 100 real estate owners? Only the US, China, Japan and Germany have GDPs larger than the total assets held by Estates Gazette Global’s top 100 real estate owners. This year, the top 100 owned a total of $3.6tn of property, a $400bn increase on the figure recorded last year. Focusing on real assets, rather than debt and securities, the list pulls together investors from all over the globe. All the content from this week’s magazine, including this article, is available in the new app. US firms remained the largest contingent in the top 100, taking up 32 places and having a combined asset value of $1.3tn. China represented the next largest slice of the rankings, with 17 spots and a total value of $621.5bn. But which firm came out on top? Click here to find out Source link
Costain, the smart infrastructure solutions company, has been awarded a technology contract by Highways England, to work in collaboration with them, the Department for Transport, Transport for London (TfL) and Kent County Council to design, install and implement one of the UK’s first pilot connected vehicle corridors on a live road. Under the contract, known as the A2M2 connected corridor, Costain will deliver roadside technology using data supplied by TfL, Highways England and Kent County Council and a technology testbed for Cooperative Intelligent Transport Systems (C-ITS). This flagship contract will help to promote the UK as market leader in Connected and Autonomous Vehicle (CAV) and C-ITS technology. “This is an important step in making our roads safer and improving journey time reliability by embracing cutting edge technology. It is a further demonstration of Costain’s capability and we look forward to leading the way with the deployment and testing of this exciting technology,” said Andrew Wyllie CBE, chief executive. Within the A2M2 connected corridor contract, Costain will be testing the wireless transmission of data to and from travelling vehicles. Trial vehicles will be fitted with onboard technology that will communicate with roadside units via ITS G5 wireless communication and with the service provider via cellular communication. This will convey information to the vehicle relating to road works, road conditions, temporary speed limits and the time remaining before a traffic light turns to green. This information could then be used by the vehicle to vary speed, for example. Information from the contract will be used to develop connected vehicle standards and facilitate a widescale deployment of connected vehicle technology. Costain will deliver this contract with core partners, Mott MacDonald, 4way Consulting, TRL, Kapsch TrafficCom AG, Altran, Cohda Wireless, Telent Technology Services Ltd and Telefonica. This contract win follows the announcement of the Group’s contract with Highways England to supply Motorway Incident Detection and Automated Signalling (MIDAS) technology systems to help improve road user safety and builds on the recent announcement of Costain’s key role supplying smart autonomous vehicle monitoring technology for the Midlands Future Mobility testbed.
Construction work to rebuild Copley Primary School and Moorside Community Primary School in Ovenden, Halifax, is underway. Pupils and staff are due to move into the impressive new buildings in the new term. Commissioned by Calderdale Council, the project received an £8.6 million investment that will see the creation of brand new, modern facilities including new sports areas equipped for football, hockey, netball and basketball. The finishing touches, including fixtures and fittings, are now being put in place by lead contractor, Wates Construction. Once completed, the new school buildings will provide a state-of-the-art home for more than 500 Halifax pupils. “It’s exciting to see the new school buildings really taking shape. We have invested in these fantastic new facilities to provide a top-class learning experience for local children to help them achieve their best. Enhancing local people’s talent is a key part of Vision 2024 to make Calderdale a place where people want to live, learn, work and invest,” said Cllr Megan Swift, Calderdale Council’s Cabinet Member for Children and Young People’s Services. The construction project has created new jobs for local people, and school staff and pupils have been involved throughout, including work experience opportunities, planting flowers, design updates and career talks. “The new term begins with our move into the new build, marking a brand new phase for the children and staff of Copley School. The facilities now taking shape after so many months of planning and designing are just fantastic. The first day we welcome the children into the new build will be a very special one. The exciting redevelopment starting in September, of the park and play area on the old school site will also be such a welcome facility for the village community. The children have been involved in this redesign and cannot wait for it also to be completed,” said Nan Oldfield, Headteacher of Copley Primary School. The construction of the new school facilities for Copley and Moorside marks the latest in a number of education projects delivered by Wates in Yorkshire and the North East. These include the new £57m Quarry Hill campus for Leeds City College and the new £22.3m National Horizons Centre research and training facility for Teesside University in Darlington.
Tekmar Group has signed a sale and purchase agreement for the acquisition of Subsea Innovation Ltd, subject to shareholder approval. The proposed acquisition represents the Group’s first transaction since its successful AIM admission in June 2018, launching the Group’s strategy to acquire offshore energy businesses which have a clear technology focus, have complementary customer bases and can leverage Group support. Subsea Innovation, which currently operates largely in the global oil and gas market will bring world-class engineering in the design, development and manufacture of back deck equipment and subsea pipeline repair clamps (“EPRC”) to Tekmar’s portfolio, along with a blue chip client list and a skilled engineering team. “When we floated on AIM we promised investors a dynamic business with a clear plan for the future. Today is just one part of the implementation of that plan and we are delighted to welcome Subsea Innovation into the Tekmar Group,” said James Ritchie, CEO of Tekmar Group plc. “As we continue through into 2019, you will continue to see us work towards our vision to become the partner of choice for the supply and installation support of subsea protection technology to the global energy markets. We will continue to put clients first and continue to innovate to remain at the forefront of the world’s offshore energy industries,” he continued. As a world leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market, Subsea Innovation has products that range from large equipment handling systems which operate on the back of installation vessels, pipeline repair clamps which protect major oil and gas pipelines, and equipment for the construction of offshore oil and gas projects. The business also has an extremely skilled engineering design team who develop world-leading concepts for some of the world’s most challenging and exciting projects. Subsea Innovation will continue to trade under its own name and remain as a separate legal entity. There will be no disruption or change for its customers.
Castlebridge Group have announced that they are on site developing a new 75-bedroom Hotel Indigo situated in the city centre of Chester. The first key milestone has been achieved with the erection of the steel super structure. The hotel will be managed by Castlebridge Hotel Management Limited who have a successful background in managing hotels across the UK. The food and drink offering in the hotel will be operated by MasterChef Champion Simon Wood who will open his second restaurant Wood Chester within the hotel. Simon’s first restaurant, which is located on First Street in the city centre, brings Simon’s passion and creativity for food to life with powerful flavours alongside a touch of playfulness. It offers a stylish yet relaxed dining experience with high end food, and has received rave reviews in the Guardian and Telegraph since opening one year ago. This exciting boutique hotel is due to open at the end of 2019. The main contractor on the project is Bowmer & Kirkland who are based in Derbyshire with a regional office in Manchester. They are also building a hotel at Birmingham Airport for Castlebridge Group and a further Hotel Indigo in Manchester City Centre. Regional Director, Neil Brook, said: “It is a pleasure to be working again with Castlebridge and IHG on this prestigious hotel development in Chester.” The Architects and Interior Designers who have been working on the new Hotel Indigo are Franklin Ellis, and the firm’s design team have worked hard to ensure that the hotel guestrooms have a unique boutique feel, taking inspiration from the different aspects and features that make Chester such a great place. Wood Chester will be a sophisticated and relaxed restaurant and bar that overlooks Grosvenor Park Road. Partner at Franklin Ellis Architects, Ben Dudley, said: “It’s been a real joy to be involved in this hotel and signature restaurant project. Led by Castlebridge’s vision for the scheme, our team have been inspired to create something very special. On a personal note, it’s fascinating to work with the Chef Simon Wood and to see how his attention to every detail ensures his guests have a wonderful dining experience. I’m certain this project will be a fabulous new venue for Chester and a delightful place to stay.” Hotel Indigo is a part of the IHG (InterContinental Hotels Group) portfolio. This hotel will be a part of one of the world’s leading hotel companies with a presence in almost 100 countries. Inspired by the neighbourhood around each property so, just as no places are alike, no two Hotel Indigo properties are the same. Each Hotel Indigo property features thoughtful design touches and vibrant restaurants and bars connected to the spirit of the local neighbourhood. This particular hotel will feature rooms based around Chester’s historic architecture, racecourse and famous clock tower. The new hotel will create 50 new staffing positions for which Castlebridge will begin recruitment from early 2019. Wood was introduced to Castlebridge Group – which is managing the project – by national property consultancy Lambert Smith Hampton (LSH), which brokered the deal between Castlebridge and BP Assets (Chester. Commenting, LSH Hotels Director Hugh Anderson, said: “Chester is a strong market for hotels and the new Hotel Indigo and Wood restaurant will provide an excellent addition to the city’s hotel and dining offer.” Castlebridge Group’s Commercial Director, Jenna Dienn, commented; ‘This is a very exciting opportunity for the group, Chester is a great city and we believe that both hotel and restaurant will trade extremely well’
The construction of three new Waterside Lodges at Center Parcs Elveden Forest is an ambitious architectural and engineering project. The stunning new lodges have been designed to compliment the woodland landscape in which they sit, while connecting guests with the surrounding natural environment. Wood was a natural choice of building material, which would blend in seamlessly with the natural forest setting. When designing the new accommodation, the choice of building materials was a key consideration for the architectural practice Jackson Design Associates (JDA). They were faced with the challenge of not only creating a design, which would blend in with the natural surroundings, but also be sufficiently lightweight to achieve the impressive arches, overhangs, and cantilever designs, without needing a considerable amount of foundation works. The only material that could meet all the requirements of the structure was Metsä Wood’s light, yet extremely strong Kerto® LVL (laminated veneer lumber). The use of Kerto LVL enabled an efficient and fast building time, which was a key factor as the project needed to be completed in time for the summer. Innovative design Architects JDA created an elegant shape, reminiscent of a boat turned upside-down. The lodges have two levels; the forest-facing side is situated higher, accessed through a wooden bridge on the first floor. The first floor contains three en-suite bedrooms, two of which open onto a deck and balcony facing the lake. The ground floor combines kitchen, living and dining areas opening out on to a terrace on the waters edge. Luke Hunter, Director at JDA said: “It was important to the Client to develop an exciting and interesting building form that made references to the boating activities of the watersports lake. This concept is continued inside the lodges where the ‘ribs’ of the boat hull are exposed to express the building’s structure and form.” Particularly unique to this project is a two storey ‘leaning’ arch overhanging the lake edge, which is also curved three times to suit the sectional profile of the main roof. While providing an impressive architectural feature, the arch also serves as a shelter to the cantilevered terrace and first floor balcony, which look out over the lake. The architects at JDA needed to find a solution that would make the structure easy to assemble and stay/remain stable from wind action or ground settlement. They choose to use lightweight and versatile Kerto LVL for the portal frames. Paul Kent, Development and Construction Director at Center Parcs said: “We have been delighted to work with Metsä Wood on the supply of Kerto LVL for our new Waterside Lodges at Elveden Forest. The versatility of their product has helped to create a unique design feature in this brand new style of accommodation, complementing the nautical theme and lakeside setting.” Fire safety Another important consideration was fire safety – an issue that often discourages architects from specifying wood. However, in the event of a fire, Kerto LVL performs predictably. As a result of burning, the surface of Kerto becomes charred, which protects the product, insulates it and slows down the burning process. Strong yet lightweight building material Kerto LVL was chosen as the construction material as its solid bonded structure offers incredible strength and dimensional stability, while its high strength to weight ratio allows for smaller spacing in mechanical connections. It is also a versatile and lightweight material, which is easy to work with. Luke Hunter, also said: “Kerto LVL was the perfect choice to help us achieve the leaning arch and thin roof / facia profile on the lake facing elevation. This flexible material helped to overcome the challenge of cutting the leaning, curved roof edge on an angle. A number of systems were investigated to achieve this, however, Kerto LVL was the only material that fully achieved the concept’s vision.“ One of the most complex elements of the structure was an exposed arch at the front, which leans towards the lake. This needed to withstand biaxial bending and compression, while supporting the roof structure with a large cantilever. Kerto LVL Q-panels were used to create the long span to the first floor deck, which was designed to bear the weight of the column horizontally with a spring support. Another factor was that the angled arch had to have a considerable bending moment connection at the top. This had to be manufactured in such a way that there was a perfect connection between the deck and arch, resulting in an irregular shape. Vertical columns were formed with two members spaced to support the first floor’s beams and curved roof beams. Kerto LVL was also used to create a recessed infill detail, closing the gap between the two vertical columns, a bespoke detail developed by JDA and Metsä Wood. Innovative bracing and connections The columns, floor beams and support ribs of the curved roof were created using Kerto LVL Q-panel structural members. This allowed for smaller spacing in the doweled circular bending moment connection and better moisture stability. The bracing of the roof and floor was provided by Kerto LVL Q-panels, which were connected together with 3-dimentional screwing. In this way no steel bracing was required. Engineering firm, BSP Consulting, designed the foundations and the steel platform supporting the frames, which cantilevered over the lake. The Kerto LVL frames, consisting of the arch, two columns and the floor beam, are connected to the steel through metal shoes, which transfer shear and horizontal forces to the platform. Working together to solve the structural engineering Divisional Operations Manager at Cocksedge Building Contractors, Tom Courtney, said: “The project combined a unique architectural approach with challenging structural engineering to great effect. The success of the project demonstrates the technical know-how and expertise of everyone involved. “The use of engineered wood allowed us to overcome a number of challenges that simply wouldn’t have been solved using other materials, while at the same time maintaining a look and feel to match the surrounding natural environment.” “The use of such a versatile and lightweight material
Midlands contractor G F Tomlinson has been appointed by Nottingham City Council as the main contractor for construction of the £30m Castle Transformation Project. Nottingham Castle will be closed for the next two years to become a world-class visitor destination, with improvements funded by the National Lottery through the Heritage Lottery Fund (HLF), D2N2, Nottingham Castle Trust and Nottingham City Council. The redeveloped site will include a new visitors centre and remodelling of the grounds, as well as new Robin Hood and Rebellion galleries to tell the stories of the city’s legendary outlaw and history of rebellion. The Castle’s wonderful collections of fine and decorative arts will be thoughtfully re-displayed and access to the caves within the Castle Rock will be improved. G F Tomlinson will bring new employment opportunities and training for local people throughout the project, along with work experience placements and apprenticeships, creating a unique working environment. The company will be involved in all the works on the Castle site, which will include the contemporary visitors centre, building the extension to the Ducal Palace that creates the new Robin Hood Gallery, the refurbishment of the Ducal Palace itself, and landscaping the grounds. Councillor Dave Trimble, Portfolio Holder for Leisure and Localities, said: “We are pleased to be welcoming G F Tomlinson to this major project. It’s exciting we have reached this major milestone and I can’t wait to see the construction work start, to realise the ambition and imagination that will form part of the new Castle experience.” Chris Flint, Director at G F Tomlinson said: “It’s fantastic to have started work on this major restoration and development project and to have the opportunity to upgrade the visitor experience and showcase the vast history of Nottingham Castle. “We have a track record of delivering quality restoration across the East Midlands and the company is very excited to be chosen to join the team on this amazing journey. It’s been a pleasure to reach this milestone with Nottingham City Council and its partners and we look forward to delivering this and more projects throughout the region.” Jonathan Platt, Head of HLF East Midlands, said: “This is an important step forward for this exciting project. Thanks to money raised by National Lottery players, we have awarded over £14million towards the Castle’s redevelopment. We look forward to seeing the project really gather pace now with G F Tomlinson joining the delivery team and to working closely with the project team in the months to come.” Nottingham Castle Trust said: “We are pleased to see the appointment of G F Tomlinson to begin the construction programme at Nottingham Castle – this transformational project will now gather speed with an experienced contractor driving the works. We look forward to working with them and to seeing the new Nottingham Castle emerge.” Matthew Wheatley, D2N2 LEP Chief Executive, said: “Nottingham has a varied and rich history. Nottingham Castle is a striking part of Nottingham’s skyline and this new and improved castle experience will help bring Nottingham’s history and heritage to life, attract even more visitors to the site, create jobs and improve the overall visitor offer across Nottinghamshire and Derbyshire.”
