Allies and Morrison, Carlo Ratti Associati, Grimshaw, Hawkins Brown and Prior + Partners through to Stage Two Oxford University Development, a £4bn joint venture between the University of Oxford and Legal & General Capital, today reveals the shortlist of five teams proceeding to the second stage of its international design
Alternatives market rebounds strongly and ESG continues to drive pricing Leading independent property advisory firm, Lismore Real Estate Advisors today released its comprehensive review of the Scottish investment market for the final quarter of 2021 and predictions for 2022. Despite the ups and downs faced during 2021, the Scottish investment
On Monday 10th of January, the Secretary of State for Levelling Up, Housing and Communities, the RT Hon Michael Gove MP, outlined his proposals aimed at ensuring that industry contributes to the cost of remediating unsafe cladding on residential buildings over 11 metres in height. The announcement makes clear that
Chubb, a leading global provider of fire safety, security and monitoring solutions and services, today launched a High-Rise Evacuation Alert System to assist the UK’s Fire and Rescue Services in safely evacuating residential buildings over 18 metres. Responding to the new Code of Practice recommendations outlined within British Standard (BS)
According to the Government’s UK House Price Index data, buying homes in Hampshire rather than neighbouring and more costly Surrey, could save buyers as much as £135,500, as property prices drop by up to 30% as you move across the county line. Savvy buyers looking to make the most of the more
With Maidenhead currently undergoing a period of rapid investment including a complete transformation of the town centre, a £30 million expansion of secondary schools across the borough and a train station revamp in the lead up to Crossrail, there has never been a more exciting time to buy a home
Allies and Morrison, Carlo Ratti Associati, Grimshaw, Hawkins Brown and Prior + Partners through to Stage Two Oxford University Development, a £4bn joint venture between the University of Oxford and Legal & General Capital, today reveals the shortlist of five teams proceeding to the second stage of its international design competition for the masterplan team for its world-leading £1 billion, 190-hectare mixed-use Innovation District at Begbroke, to the north of Oxford. The lead consultants of the shortlisted teams are: Allies and Morrison; Carlo Ratti Associati; Grimshaw; Hawkins Brown; and Prior + Partners. The shortlist was selected by the jury panel from an exceptionally strong field of 40 entries. In an extremely competitive field, all shortlisted teams scored highly against the stage 1 criteria of creative ability, problem definition, collaborative thinking, communication skills and the overall diversity and inclusivity of the team. Anna Strongman, CEO, Oxford University Development, said: “We were inspired by the high quality of the entries and excited by the potential of Begbroke outlined by the teams. Practices and collaborations grasped the challenge of creating a place of world leading research alongside a community calling Begbroke home. We look forward to engaging with the short-listed teams to explore ideas further in stage 2.’’ The winning design team will set the bold ambition and design intent for a project that will transform the area around the University’s Begbroke Science Park, to the north of Oxford. The project will also create a community of up to 2,000 quality homes, with new schools, public park and nature reserve. OUD’s aspiration is to create a boundary-pushing scheme that demonstrably achieves a step-change in sustainable design, delivery, and operation. The new district will seek to attract the very best minds, while driving economic growth, improving transport connections, delivering benefits for local people, as well as enhancing the surrounding natural landscape for public access. The site will provide an exemplary new setting for the University’s world-leading science and innovation, which will help address key global challenges facing humanity – from food security and biodiversity to climate change and the urgent need to move to a zero-carbon economy. The ambition for Begbroke is anchored by Cherwell District Council’s Local Plan Partial Review, which has identified the site for a high-quality mixed-use development, comprising a range of research & development, residential, and associated social and physical infrastructure uses, such as schools, local centres, amenity space and recreation/leisure uses, as well as excellent connectivity to the City of Oxford by sustainable means. The first phase of the scheme will bring forward new facilities for University research, as well as providing space to incubate spin-out companies. The competition is being managed by Colander Associates. All 40 Stage One entrants can be viewed online at: https://www.colander.co.uk/journal/begbroke-competition-entries.
Alternatives market rebounds strongly and ESG continues to drive pricing Leading independent property advisory firm, Lismore Real Estate Advisors today released its comprehensive review of the Scottish investment market for the final quarter of 2021 and predictions for 2022. Despite the ups and downs faced during 2021, the Scottish investment market has fared surprisingly well with investment volumes trading at circa £1.345bn, a 24% increase on the total for 2020. The emergence of the Omicron variant and the return of restrictions continues to bring challenges across the entire property market and global economy but quarter 4 trading remained strong at £520m, up 27% on Q4 2020. Key transactions included the £32.2m sale of Sainsbury’s at Inglis Green Road, Edinburgh by Inglis Property LLP to Urbium Capital Partners LLP, the off-market sale of Scania at Eurocentral by West Ranga Property Group to DVS Property for £10.725m and the £58m sale of Exchange Place One in Edinburgh to CBRE Investment Management. Chris Macfarlane, Director of Lismore comments: “The wall of overseas capital chasing stock continues and pricing reached pre-pandemic levels in the food stores, logistics and retail warehousing sectors. However, challenges remaining for significant parts of in-town retail/leisure and investors continue to grapple with offices, other than those of the very best quality or which can be adapted to meet more challenging ESG credentials. “When looking at market themes, one part of the market which was hit hard initially but which has rebounded (in part) very strongly is the alternatives sector, covering PBSA, management contract hotels and serviced apartments. The strongest, well-located assets have seen occupancy levels recover and while net operating income might not be quite back, investor interest has been stirred by their resilient qualities. “In terms of pricing, foodstores, convenience stores and distribution have seen the strongest sharpening of yields of between 50-100bps over the quarter. Core-plus opportunities have been relatively limited but we are seeing a softening of pricing around Grade B offices as investors come to terms with increasing levels of capex and ESG challenges. The only sector really offering “value-add” pricing is the shopping centre market where risk remains but the best assets are starting to find their level, at between 50-90% discount to purchase levels. “UK institutional activity remains very focused on longer income defensive stock including retail warehousing and distribution, although we have seen a welcome return by an institution to the Edinburgh office market for the first time in a number of years. “Overseas investors continue to target Scotland (Edinburgh in particular), with buyers from the Middle East and mainland Europe all remaining active but the overwhelming weight of capital has been from North America. The level of distressed selling continues to be very limited with the more opportunistic buyers looking further up the risk curve, either direct development, vacant buildings or shopping centres.” With a seemingly brighter 2022 looming, the latest investor research undertaken by Lismore predicts that the top three performing sectors in 2022 will be retail warehousing (36%), distribution (28%) and multi-let industrials (17%). Although prime yields have begun to harden, retail warehousing still offers some good value given the rapidly changing retail market and strong occupational demand. The support for foodstores has fallen significantly (6%), perhaps an acknowledgment that a lot of the performance in the sector has come during 2021. The office sector was the most poorly backed by respondents, with concerns over capex requirements and future working habits being mentioned as headwinds for the sector. A significant majority (69%) of respondents in Lismore’s research expect to be net buyers in 2022, with 21% neutral. Investment managers and property companies look to be most acquisitive with 83% and 73% respectively anticipating they will be net buyers in 2022. Just over 50% of funds and private equity respondents expect to be net buyers. Only 10% of respondents expect to be net sellers, suggesting another year of limited stock and inevitable pricing pressures for the best opportunities. The Lismore review also features an in-depth interview with James Dunne, Head of UK Transactions at abrdn, who comments: “The pandemic has highlighted the benefits of having a diversity of income and sectors within a portfolio. The breadth of the alternative sectors provides an increasingly significant part of the real estate investment market, with the hotel sector offers an interesting pattern in durability. However, this recovery trend has been narrow and will continue to be driven by the best assets and the best locations significantly outperforming the market. “The extended stay market (apart-hotels and serviced apartments) was already growing and the ability to pivot from more lucrative short term stays to a longer term model provided certainty of income and meant that the sector showed very strong resilience throughout the worst of the pandemic and therefore a strong rationale to invest both for the protection in the downside but also the predicted performance in a more normal market. “We are still in the early stages of the attitudinal transformation of real estate from providing space as a product to embracing space as a service. The most visible area where we have seen an ongoing shift to a more service real estate environment is the office sector. This has been accelerated and is an area that could continue to develop rapidly with the long term return to the office. The retail sector will have to continue to adapt if it is to stay relevant to the demands of consumers and offer more experiential retail, most likely digitally enabled to lead a partial, targeted recovery in the sector. “The one thing we can be sure of is that the evolution of how real estate is used and provided and the increased ‘hotelisation’ of all sectors will continue apace over the next few years and we as investors have to continue to not only adapt to but drive forward.” The full Lismore Quarterly Review is available to download from: HERE
On Monday 10th of January, the Secretary of State for Levelling Up, Housing and Communities, the RT Hon Michael Gove MP, outlined his proposals aimed at ensuring that industry contributes to the cost of remediating unsafe cladding on residential buildings over 11 metres in height. The announcement makes clear that the Government is committed to the principle that ‘polluter pays’ and that those responsible for the building safety crisis should be held to account. Whilst the proposals for funding this work may not address the immediate concerns of residents, there can be no question that the industry needs to undergo fundamental change if it is to ensure that there is never another Grenfell Tower tragedy. This is the central message of the Industry Safety Steering Group’s third report to the Secretary of State, which was also published yesterday. Highlighting examples of good practice, the report makes clear that there is still a long way to go, and leadership is needed if we are to rebuild trust in the sector following the Grenfell Tower tragedy. Eddie Tuttle, Director of Policy, External Affairs & Research at CIOB, said: “The Chartered Institute of Building has been actively engaged in raising standards and promoting best practice in building safety, for its members and wider industry, and will continue to work with industry and government to bring about the culture change that is needed, as well as developing the required competency standards for the duty holder roles under the upcoming Building Safety Act.”
Chubb, a leading global provider of fire safety, security and monitoring solutions and services, today launched a High-Rise Evacuation Alert System to assist the UK’s Fire and Rescue Services in safely evacuating residential buildings over 18 metres. Responding to the new Code of Practice recommendations outlined within British Standard (BS) 8629:2019, the High-Rise Evacuation Alert System will facilitate the immediate evacuation of any floor within a building to securely phase the evacuation process and provide the highest levels of tenant and asset protection. The system’s operating panel is housed within a tamper-proof enclosure that features an STS 205 BR2 security rating and can only be opened by a patented key and lock mechanism conforming to BS EN 1303. The easy-to-use toggles enable Fire and Rescue Services to instantly activate alarm sounders, whilst the LED indicators provide a clear overview of evacuation zone status to support quick and straightforward implementation of evacuation strategies. Suitable for both new build and retrofit applications, the system’s hybrid network capabilities offer building owners the flexibility to tailor the system to meet their specific requirements and the system can be continuously upgraded and extended to meet future legislative updates. The flexible nature of the system also provides building owners with the ability to wirelessly interlink each individual alarm sounder and visual alarm device to the hardwired evacuation alert control and indicating equipment panel. “For over 200 years, Chubb has been committed to making our customers world a safer place. The launch of our new High-Rise Evacuation Alert System is a reflection of this dedication, providing building owners with the highest possible standards of protection and performance,” said David Foord, Fire Sales Director, Chubb: “We understand the importance of ensuring the successful and safe evacuation of tenants in the event of a fire, which is why our latest system has been designed in accordance with BS 8629:2019, to provide complete peace of mind.” Supporting the installation and reporting stages, Chubb also provides proof of testing upon handover, in addition to regular testing in accordance with complete compliance. Featuring technology recommended within BS 8629:2019, the High-Rise Evacuation Alert System is also supported by Chubb’s nationwide network of dedicated engineering and support teams that provide building owners with industry-leading advice, knowledge, and service. To find out more, visit https://www.chubbfiresecurity.com/en/uk/products/fire/evacuation/evacuation-alert-system/
According to the Government’s UK House Price Index data, buying homes in Hampshire rather than neighbouring and more costly Surrey, could save buyers as much as £135,500, as property prices drop by up to 30% as you move across the county line. Savvy buyers looking to make the most of the more affordable county should look no further than Bellway’s fabulous development, Sky Plaza, centrally based in Farnborough. Hampshire is also one of the Counties that will soon be enjoying faster internet as the Government rolls out a five billion broadband upgrade plan. This investment known as Project Gigabit is good news for those looking to move and will dramatically improve internet speeds, making working from home even more streamlined. Emma Jones, Sales and Marketing Director at Bellway Thames Valley, comments: “With the community set to benefit from improved internet capability, Bellway is delighted to offer properties in an area that will profit from the government’s investment. Our three-bedroom family homes could provide the perfect work/home balance by being ideally located on the Hampshire and Surrey border. Great connection links to London and the option to explore wonderful local towns and villages present families with endless opportunities to make memories in a beautiful part of the country.” “We now have The Lancaster, a beautiful three bedroom showhome available to view at Sky Plaza and would urge people to get in touch and book an appointment.” The Lancaster showcases impressive interiors and would make the perfect family home, plus the home is available with the Government led Help to Buy scheme where only a 5% deposit is needed for first time buyers. This home boasts an impressive open-plan kitchen and dining area that will be the beating heart of a family home, with elegant French doors to the garden. Upstairs includes a modern family bathroom, plus two double bedrooms and a single, with a contemporary en suite to bedroom one.
With Maidenhead currently undergoing a period of rapid investment including a complete transformation of the town centre, a £30 million expansion of secondary schools across the borough and a train station revamp in the lead up to Crossrail, there has never been a more exciting time to buy a home in the area. Those hoping to invest in this area of regeneration should look no further than Bellway’s Belmont Park, which is launching on January 15th. Designed to appeal to a variety of buyers including first-time buyers and downsizers, Belmont Park features a spectacular range of two and three-bedroom homes. Located less than a mile from Maidenhead’s bustling town centre, buyers are well placed to take advantage of everything the area has to offer. All homes are spacious with carefully considered layouts and a high quality finish. Each home also benefits from the convenience of allocated parking. Emma Jones, Sales Director at Bellway Thames Valley comments: “We are delighted to be launching these homes at our new Belmont Park development in Maidenhead. These properties will appeal to a range of buyers including professionals looking for an easy commute and young families looking to live near some exceptional Berkshire schools. With Maidenhead currently undergoing a multi-million-pound regeneration programme and with Crossrail services expected to begin next year, there has never been a better time to buy in the area. I urge prospective purchasers to register their interest as soon as possible to secure one of these choice properties.” Positioned just a three-minute drive north of the town centre, buyers at Belmont Park will be able to enjoy all the amenities on offer in Maidenhead. The town centre hosts a variety of eateries, including the popular Coppa Club which enjoys a prime riverside position. Families are well-catered for at Belmont Park, with a host of ‘Outstanding’ primary schools located within a mile of the development, including St Luke’s CofE Primary School, Furze Platt Junior School and Boyne Hill CofE Infant School. For older children, nearby Furze Platt Senior School has just benefitted from the addition of a new three-storey English and Science block, as well as a new theatre space. Maidenhead train station is just a 10-minute walk away, offering direct services to Reading (14 minutes) and London Paddington (34 minutes), with the introduction of Crossrail expected to improve services even further.
