November 9, 2023
Panattoni passes £350m in southern acquisitions in 2023

Panattoni passes £350m in southern acquisitions in 2023

Panattoni, the largest logistics real estate developer across the UK and Europe, has passed the major landmark of £350 million through three significant acquisitions this year. The first quarter saw Panattoni acquire a prime west London redevelopment site near Heathrow Airport where an 80,000 sq ft unit will be delivered

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Buy-to-let landlords reduce borrowing amidst rising rates

Buy-to-let landlords reduce borrowing amidst rising rates

The nation’s landlords are responding to higher levels of mortgage interest rates by cutting down on their borrowing. The research comes from specialist property lending experts, Octane Capital, which compared the total amount of borrowing amongst buy-to-let landlords between Q3 2022 and Q2 2023 and the corresponding period the year

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Bromford wins next phase of affordable housing at Graven Hill

Bromford wins next phase of affordable housing at Graven Hill

A Midlands housing association has secured the next phase of work at the UK’s largest self and custom-build development. Graven Hill Village Development Company (GHVDC) has re-appointed Bromford for this latest phase, which will include 50 homes; 31 of which will be affordable rent and 19 shared ownership at the

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How do you rewire a city? Balfour Beatty Shows us

How do you rewire a city? Balfour Beatty Shows us

A team of experts, innovative plant and equipment, 200km of cables and a 32.5km underground tunnel network, 40 metres beneath the city of London. Find out how we’re rewiring London’s electrical transmission system to keep Londoners connected to a safe and reliable electricity supply. #Expertengineers #BuildingNewFutures Building, Design & Construction

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Stepnell starts construction on Coalville forest school

Stepnell starts construction on Coalville forest school

Contractor Stepnell has commenced construction work on a new state-of-the-art forest school in Coalville, Leicestershire. Helping to deliver the tailored school design is construction consultancy Bentley, who are acting as employer’s agent and quantity surveyors for the project. Stepnell is leading the construction works of the two-form entry school which

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ICON Projects appoints Ashley Kemp as Operations Director

ICON Projects appoints Ashley Kemp as Operations Director

Commercial fit out and refurbishment specialist, ICON Projects, with 3 office locations in the UK including London, has recently welcomed Ashley Kemp to its senior leadership team as Operations Director. Ashley brings a wealth of expertise to the business, having worked with Tier-1 fit out contractors over the past 15 years

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Beard Construction to build Cheltenham Construction Centre

Beard Construction to build Cheltenham Construction Centre

Beard Construction has been named as the chosen contractor by Gloucestershire College for its £5 million sustainable construction centre in Cheltenham. The project, which is set to begin this month, will see the construction of the 14,000 square-foot facility and will feature 10 plumbing bays, 12 electrical bays and 20

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Latest Issue
Issue 322 : Nov 2024

November 9, 2023

Panattoni passes £350m in southern acquisitions in 2023

Panattoni passes £350m in southern acquisitions in 2023

Panattoni, the largest logistics real estate developer across the UK and Europe, has passed the major landmark of £350 million through three significant acquisitions this year. The first quarter saw Panattoni acquire a prime west London redevelopment site near Heathrow Airport where an 80,000 sq ft unit will be delivered for Q3 2024; the site is called Panattoni Poyle. The start of the third quarter saw the acquisition of a site to deliver 800,000 sq ft in Milton Keynes, where the business will construct two speculative units of 350,000 sq ft and 450,000 sq ft. The end of the third quarter sees the acquisition of a two unit park totalling 626,468 sq ft in Sittingbourne, strategically located to the Southeast of London 4 miles from junction 5 of the M2. The 26-acre site, acquired from Abrdn, will be developed as a state-of-the-art, net zero carbon development. This prime location offers unparalleled access to local and national distribution routes facilitated by the M2, M20, and M25 motorways. The development will provide seamless connectivity to vital markets such as London, the Southeast, and Europe via London Thamesport, Dover, and the Port of Tilbury. The site has planning consent for two distinct units, spanning 439,228 sq ft and 205,320 sq ft, respectively which will be speculatively developed.  Construction is due to commence at the end of the fourth quarter of 2023, with a targeted completion date in the fourth quarter of 2024. A key advantage and differentiator of Panattoni Park Sittingbourne are its enhanced environmental, social, and governance (ESG) features; the site has 5MVa of power available with a further capacity of additional 1.35MVa from the solar PV provided as part of the base specification by Panattoni. Furthermore, Panattoni will engineer the construction to achieve a BREEAM sustainability rating of ‘Excellent’ and an Energy Performance Certificate (EPC) rating of ‘A’. Panattoni’s acquisition at Sittingbourne follows its success at the nearby 1.6 million sq ft Panattoni Park Aylesford; the level of demand in the region has  resulted in the scheme being  100% pre-let to major national and international occupiers in less than 24 months from acquisition Tony Watkins, Head of Development for the South East and London at Panattoni, said, “This third acquisition in the South in 2023 confirms our success in delivering on a strategy to acquire land that provides value to investors and customers in the current commercial environment. We will continue to selectively purchase key developments that offer value-add opportunities within core markets in London and the South East, where we can drive rental growth”. Finally, he said “we expect to be announcing more acquisitions this quarter”. Panattoni were advised by JLL Abrdn were advised by Avison Young and Savills Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Buy-to-let landlords reduce borrowing amidst rising rates

Buy-to-let landlords reduce borrowing amidst rising rates

The nation’s landlords are responding to higher levels of mortgage interest rates by cutting down on their borrowing. The research comes from specialist property lending experts, Octane Capital, which compared the total amount of borrowing amongst buy-to-let landlords between Q3 2022 and Q2 2023 and the corresponding period the year before. It found that buy-to-let landlords reduced their borrowing by around £7 billion over that timespan, from £37.9 billion in 2021-2022 to £30.4 billion in 2022-2023. In terms of a percentage change, this means that buy-to-let landlords collectively reduced their borrowing by -19.8% in just a single year. A period in flux It’s no wonder that landlords have looked to reduce their exposure to the mortgage market, given how the Bank of England base rate has shifted over that period. At the start of December 2021 the base rate stood at 0.1%, while by June 2023 it reached 5.0%. Other unusual events also rocked the markets. In February 2022 Russia would launch its invasion into Ukraine, creating an inflationary effect on the cost of energy, which would filter through to other sectors. Meanwhile September 2022 saw ex-Prime Minister Liz Truss’s ill fated mini-budget, where a selection of uncosted tax cuts served to spook the financial markets, causing mortgage interest rates to surge almost overnight. It’s no wonder that investors have looked to restrain their borrowing in this context. First-time buyers The rest of the market followed a similar trend to buy-to-let, as lending to first-time buyers dropped from £68.1 billion in 2021-2022 to £65.9 billion in 2022-23, a reduction of -3.2%. Meanwhile all other forms of lending fell by -7.6%, from £92.2 billion to £85.2 billion. Remortgage activity rose slightly, from £79.9 billion in 2021-2022 to £81.0 billion in 2022-2023, reflecting how more borrowers consolidated what they had rather than saddling themselves with fresh debt in the form of a new mortgage. CEO of Octane Capital, Jonathan Samuels, commented:  “Landlords are taking fewer risks with their borrowing, which makes sense given how the market has become objectively less attractive in the past couple of years. “No longer are buy-to-let mortgages available for 2-3%, so it’s less economically viable to invest in property on a highly leveraged basis. “Now landlords are in a period where they’re adjusting to a new normal, where they need to be strategic and consider using a larger deposit if they want to continue growing their portfolios.” Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Structural work complete on Royal Military Academy Sandhurst's new band facility

Structural work complete on Royal Military Academy Sandhurst’s new band facility

Willmott Dixon has completed the structural phase of a new £12m facility for Army musicians at Royal Military Academy Sandhurst (RMAS) being delivered under the Defence Estate Optimisation (DEO) Army Programme.  A topping out ceremony took place to mark completion, with military officials and project partners from the Army delivery team and Defence Infrastructure Organisation joining Willmott Dixon to celebrate the project’s progress.  The purpose-built facility has been designed to house and support the talented musicians who serve in British Army Band Sandhurst, offering a modern and acoustically optimised environment for rehearsals, performances and musical collaboration.  It can accommodate all 54 members of British Army Band Sandhurst, which performs at passing out parades and Sovereign’s parades, as well as supporting military sporting events and dinner nights with smaller ensembles.   The new and refurbished buildings feature an instrument store, music library, offices, rehearsal rooms, storage, changing and toilet facilities, and a crew room. The facility also has sustainable features, with two of the blocks being installed with solar panels and heat source pumps.  Major General Richard Clements CBE, director of Army basing and infrastructure said: “I am delighted to see the excellent progress on these modern, bespoke facilities for British Army Band Sandhurst and I congratulate the project team on reaching this significant construction milestone.   “We trust this building will become a flagship facility to inspire future generations of Army musicians, who play such an important role in enhancing the reputation of UK Defence both at home and on the global stage.”  The project is being delivered under the DEO Army Programme, which is investing £3.35bn over 10 years across 35 projects. The programme aims to improve the lived experience for soldiers by delivering an effective and sustainable Army Regular estate.  William Phillips, national director at Pick Everard, said: “Our close collaboration across the range of project management and NEC supervisor services is providing an inspired space for army musicians.   “At Pick Everard, we’ve worked on many projects with the British military over the past 30 years, understanding the unique processes, procedures, and security requirements of the sector.   “We now look forward to this new venue taking shape and becoming an integral part of the army’s plans for generations to come.”  Hazel Ide, senior programme manager for the Defence Estate Optimisation Programme said: “This project has brought old and new together brilliantly and is going to be a fabulous facility which reflects the history of this site alongside a state of the art new and very modern facility.   “The teams, DIO, Army, the site personnel, Willmott Dixon, HLM and Pick Everard have worked together to resolve issues, understand risks, and come up with innovative solutions to some challenging problems to keep the project on track. Only by working together could we have delivered this project the way we have.”  Adam Worrall, director at Willmott Dixon said: “I am delighted to be part of such a unique project that will serve as a sanctuary for musical talent within the Army. It will provide a new and modernised building that is high-quality and fit for purpose. I am looking forward to seeing its further progression over the coming months.”  Construction will complete in 2024.  Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Bromford wins next phase of affordable housing at Graven Hill

Bromford wins next phase of affordable housing at Graven Hill

A Midlands housing association has secured the next phase of work at the UK’s largest self and custom-build development. Graven Hill Village Development Company (GHVDC) has re-appointed Bromford for this latest phase, which will include 50 homes; 31 of which will be affordable rent and 19 shared ownership at the 462-acre site. As with all new builds at Graven Hill, regardless of construction form, they will meet the Passive Design Standards Revision F which, since adopted by Graven Hill in 2016, have delivered dwellings with energy standards which are higher than the statutory requirements set out in current building regulations. Graven Hill doesn’t just comply with statutory policy requirements, it exceeds them by incorporating sustainable design and construction technology to achieve low carbon development through a combination of fabric energy efficiency and carbon compliance for example. Gemma Davis, customer experience director at GHVDC, said: “Bromford has worked at Graven Hill since 2017, helping to deliver 93 affordable homes to date. “Graven Hill is unique and diverse and aims to offer the widest range of housing, from self and custom-build to apartments and extra care facilities. With 30% of the site providing affordable homes, it has been essential that we find a partner that shares the same vision; to deliver a successful, diverse and pioneering development.” Bromford has 46,000 homes across its operating area in the West Midlands and West of England. Alongside its existing 93 properties at Graven Hill, the housing association will take ownership of the first 26 new homes before the end of the year, comprising of 16 for affordable rent and 10 for shared ownership. The remaining 15 affordable and 9 shared ownership homes will be handed to Bromford next year and are part of the 1,200 new homes the housing association will be delivering during the year. Satty Tiwana, project manager from Bromford said: “We’re delighted to be working with Graven Hill Village Development Company again to provide affordable housing on the latest phase of this project. We’ve just had the first eight homes handed over to us and our latest customers are getting ready to move into their new homes. “They will all benefit from our unique approach to housing management which is focused on creating a close relationship between our customers and their neighbourhood coach. We know that every customer is unique and different customers will benefit from different types of relationship, but we will work with each of them to learn and understand each of their aspirations so we can work together to help them achieve them so they can thrive in their new home.” Graven Hill is a former Ministry of Defence site, which has become a thriving new community with almost 500 homes delivered to date and hundreds more to come. The primary school opened its doors this month, alongside a cocktail bar, wine shop and dentist practice. A nursery school provider is also set to commence development.  Further retail units are currently under offer and a site at the frontage intended for a pub restaurant continues to be marketed. Significant amenities planned include a sports pavilion, pitches and allotments and access to the Graven Hill wood. GHVDC is also seeking local contractors to tender for its next phase of new homes and apartments. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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How do you rewire a city? Balfour Beatty Shows us

How do you rewire a city? Balfour Beatty Shows us

A team of experts, innovative plant and equipment, 200km of cables and a 32.5km underground tunnel network, 40 metres beneath the city of London. Find out how we’re rewiring London’s electrical transmission system to keep Londoners connected to a safe and reliable electricity supply. #Expertengineers #BuildingNewFutures Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Stepnell starts construction on Coalville forest school

Stepnell starts construction on Coalville forest school

Contractor Stepnell has commenced construction work on a new state-of-the-art forest school in Coalville, Leicestershire. Helping to deliver the tailored school design is construction consultancy Bentley, who are acting as employer’s agent and quantity surveyors for the project. Stepnell is leading the construction works of the two-form entry school which was designed by Lungfish Architects and led by land regeneration company, Harworth Group. The primary school in Swinfen Vale is due to open in September 2024 for the new school year and is the county’s first forest school, a model which endeavors to nurture creativity in line with play and activity to promote education. Lauren Allsop, senior project manager at Bentley spoke on construction starting on site, said: “The groundbreaking ceremony that recently took place was a significant step forward in what is an incredibly exciting project for us at Bentley. This project acts as a change of trajectory for education in the region and we’re proud to be able to use our expertise to see it come to life.” The construction of the school will consist of a series of pavilions, designed to offer a range of flexible teaching spaces including shared and outside areas. These classroom spaces have been designed to ensure optimal lighting and ventilation throughout. Tom Sewell, Regional Director at Stepnell, said: “The creative and sustainable design of the project aligns well with our complete construction offering at Stepnell. We’re proud of our ability to continuously create quality developments in the education sector and this project will be no exception. “As we continue to grow our strong regional reputation in the East Midlands, we’re excited to be working with Bentley Project Management and partners on what is an incredible project to expand the school offerings for the people of Coalville and the surrounding region.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Story Homes receives the green light to deliver 143 new homes in Tanfield, County Durham

Story Homes receives the green light to deliver 143 new homes in Tanfield, County Durham

Story Homes has recently received Reserved Matters planning permission, which will see the developer bring 143 new homes to Tanfield in County Durham. Story Homes has worked in partnership with Miller Homes, to bring forward plans to redevelop the site of the former Ever Ready battery production factory in Tanfield, which has been derelict for many years. This brownfield site was granted outline planning consent in 2017, and now Story Homes along with its development partner have permission to deliver a total of 288 new homes, transforming this under used area into an attractive residential development. Story Homes’ plans include the delivery of 143 high quality new homes, ranging from two to five bedrooms, which have been designed for modern living, with flexible open plan layouts, and luxury finishes throughout. Not only will the redevelopment of the site vastly improve the appearance of the area, but the Section 106 (S106*) Agreement linked to the planning permission, will see the developers invest a total of £286,400 into the local community. The S106 Agreement earmarks £140,000 to go towards a bus service and infrastructure. Of the remaining funds, £60,000 will be contributed to the creation of a cycleway and footpath and the final £86,400 will go towards sports facilities. In addition to these contributions, the scheme will also deliver much needed affordable homes. Dan Chant, Senior Land Manager for Story Homes said: “Our proposed development on this brownfield site will not only improve the look of the area but will deliver multiple benefits to the local community during the construction phase and beyond, as well as direct and indirect employment opportunities for local people through subcontractors and the supply chain.” Story Homes is expecting to commence works at the Tanfield site, which will be named Heritage Fields, within the coming weeks. For more information about the scheme please visit https://www.storyhomes.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals 

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There is little point in planting hundreds of thousands of trees on our roads network if we don’t look after them until they can serve their purpose

There is little point in planting hundreds of thousands of trees on our roads network if we don’t look after them until they can serve their purpose

By Keith Gallacher Everyone who drives a car or travels by bus will have seen the small forests of plastic tubes at the side of any new road or motorway works. They are there to provide initial protection for tree saplings planted as part of the landscaping of the project. It would be comforting to think that these mini-forests were created by the highway builders as a pleasing aesthetic, a green and leafy mitigation against the thunder of the traffic which the new roads create. However, the requirement for plantings is more likely to have been written into the planning agreements for the works, either as compensation for trees cut down during construction or as carbon capture measures to soak up the consequent fumes. Whatever the rationale, the fact that no road building project is likely to go ahead in the UK these days without some form of planting for pollution control has to be a step forward. Cast your mind back only a few decades – it never used to happen. But, laudable though the greening of motorways and roads may be as a general principle, one part of the programme can sometimes be missing – it is inescapable that, for trees to grow, flourish and fulfil their purpose, they have to be looked after. As any gardener will attest, you can’t just bung something in the ground and walk away. Plants have to be nurtured, watered and fed. The soil they go into is of crucial importance to their health. They are living entities – if the conditions for life are not met, they will die. And, unfortunately, this is exactly what is happening on road projects across the UK. In one particularly egregious example, National Highways planted 850,000 saplings as part of a £1.5 billion upgrade of the A14 between Cambridge and Huntingdon – three-quarters of which have subsequently died. That’s 637,500 trees wasted. The estimated cost of replanting was £2.9 million earlier this year. An FoI request earlier this month also revealed that 30.4% of saplings have died across the nine out of 38 projects carried out by National Highways for which figures were provided. The actual number is likely to be much higher. What this says, according to many experts, is that there is a danger in the wider infrastructure mindset of focusing on the number of trees planted, rather than their survival, and that the focus on subsequent care is blurred, to say the least. It hasn’t helped that politicians in their manifestos have been in a bit of a bidding war about the number of trees they’ll plant and often the young and tender saplings are placed far too close together, further eroding their chances of survival. It is axiomatic that only growing trees capture carbon or improve habitat and that, if survival rates improve, then planting remains one of the most cost-effective ways of managing emissions. Compared to other forms of land use, nothing measures up to trees, though there is a strong case to be made for the use of shrubs and other lower-growing plantings which, being nearer the ground, collect pollutants of the surfaces of leaves and bark. Soil is an important factor, too. Often in road building projects, construction spoil is used for landscaping, and there is no benefit in simply spreading a layer of compost or topsoil across what is, effectively, horticultural rubbish. On a more positive note, one of the heartening takeaways from the Cambridge tree debacle was that National Highways internal documents reveal that the replanting plan will use more mulch to hold water, better tree guards, improved topsoil and reviews of both the type of tree planted and the sapling’s age. This is the sort of thing that should perhaps have been taken into consideration in the first place, and should give the sector as a whole food for thought about how what is essentially a good idea – planting trees – can be made to work for everyone’s benefit. As Albert Einstein said, doing the same thing over and over again and expecting different results is the definition of insanity. It certainly seems insane not to at least consider a better way of doing things. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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ICON Projects appoints Ashley Kemp as Operations Director

ICON Projects appoints Ashley Kemp as Operations Director

Commercial fit out and refurbishment specialist, ICON Projects, with 3 office locations in the UK including London, has recently welcomed Ashley Kemp to its senior leadership team as Operations Director. Ashley brings a wealth of expertise to the business, having worked with Tier-1 fit out contractors over the past 15 years both in the North of England, and in London. Working as part of the wider UK team, Ashley has been brought in at partnership level to help grow the ICON Projects brand across a range of sectors, whilst ensuring the highest level of customer service. ICON Projects offer a range of high-quality services from its offices in London, Cheshire and Birmingham, with emphasis on customer-centric collaboration and industry leading technology. Services include workplace consultancy, design, and fit out across commercial office, retail, higher education, and life sciences sectors. Recent projects include completed projects for Magnet, Wickers, Flokk and LINK group. Speaking of his new role, Ashley had this to say: “When the opportunity arose to join ICON Projects at partner level, I jumped at the chance.” “Our focus will remain on customer service, creating roles for great people, and fulfilment of our long term ESG commitments. This is all made possible by the total freedom we have to embrace technology and drive innovation at every level to create an enjoyable journey for all project stakeholders, including the communities we work in.” “Being part of the ICON Projects team at this stage affords me the exciting opportunity to shape our growth in line with our long-term ESG commitments. This company is about working with good people to leave a positive mark on our world, and that’s a purpose I can really stand behind.” Craig Shenton, Director at ICON, commented: “We are thrilled to welcome Ashley to our growing team as Operations Director. Ashley is our most senior appointment to date and signals our intent to deliver the highest quality customer experience across a range of sectors. Ashley brings a wealth of experience and is entirely aligned with our core values of integrity, care, opportunity and unity.” Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Beard Construction to build Cheltenham Construction Centre

Beard Construction to build Cheltenham Construction Centre

Beard Construction has been named as the chosen contractor by Gloucestershire College for its £5 million sustainable construction centre in Cheltenham. The project, which is set to begin this month, will see the construction of the 14,000 square-foot facility and will feature 10 plumbing bays, 12 electrical bays and 20 bays for carpentry, as well as four classrooms. With sustainability at its core, the training provision will be based on nationally set pathways and will embrace low-carbon energy and associated skills. In total, the construction centre will provide hands-on experience, expert training and key green skills to 164 learners every week. The new construction training centre forms part of the college’s vision to prepare the workforce of the future. It aims to help address the increasing demand for skilled construction workers in the region, which is projected to reach 6,400 annually by 2025. The facility also coincides with the shift towards net-zero carbon technologies in construction. Beard is working closely with the college and all partners to keep both staff and students safe and to minimise disruption. The project is being delivered through Beard’s Swindon office, with the contractor working alongside architects Roberts Limbrick, project managers Ridge and Partners LLP, quantity surveyors Ward Williams Associates and structural engineers Simpson Associates. Jamie Harwood, director at Beard, said: “Gloucestershire College has an exciting vision to not only increase routes into the industry, but to ensure new recruits are skilled to meet the challenges and opportunities of sustainability. These principles are key drivers for us at Beard and we are delighted to be working with the college as its chosen contractor. “For more than 130 years, Beard has built an established reputation in the education sector, whether it’s in primary, secondary, SEND provision or further education. We will utilise this expertise to help Gloucestershire College deliver a cutting-edge teaching and learning space for construction.” Matthew Burgess, principal at Gloucestershire College, added: “Our selection of Beard Construction is rooted in its exceptional reputation and demonstrated commitment to sustainable and high-quality builds. We sought a partner who shares our vision of preparing the talent of tomorrow for the evolving construction landscape. Beard’s proven expertise, coupled with its focus on minimising disruption and maximising collaboration, aligns with our objectives and we look forward to working with them over the coming year.” Across its offices in Swindon, Bristol, Oxford and Guildford, Beard has completed a number of projects within the education sector. In addition to extensive work in further education – including for Oxford University and its colleges, Beard has completed projects in primary, secondary and special education. The training centre marks a return to Cheltenham for Beard following the successful completion of The Quadrangle, a £12 million office refurbishment and extension project in the town centre. Building, Design & Construction Magazine | The Choice of Industry Professionals

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