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May 27, 2024

British Land Announces Sale of Its 50% Meadowhall Stake

British Land Announces Sale of Its 50% Meadowhall Stake

In line with its strategy to focus on retail parks and reduce exposure to covered shopping centres, British Land has exchanged contracts for the sale of its 50% stake in Meadowhall Shopping Centre to its partner, Norges Bank Investment Management, for £360 million. Earlier this year, the joint venture also

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Clegg Construction completes £9m care home near Tadcaster

Clegg Construction completes £9m care home near Tadcaster

Contractor Clegg Construction has handed over a new 65-bedroom care home to Barchester Healthcare. The £9m Highfield Care Home at Barkston Ash in North Yorkshire is located on the former Scarthingwell Park Estate and replaces an ageing care home that had previously been on the site. The new two-storey facilities

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MAJOR CHANGES TO THE BUILDING SAFETY ACT: WHAT TO LOOK OUT FOR

MAJOR CHANGES TO THE BUILDING SAFETY ACT: WHAT TO LOOK OUT FOR

Following the Grenfell Tower tragedy, the Building Safety Act 2022 aimed to revolutionise the way buildings are designed and constructed. While this was a major shift in the regulatory framework, further significant changes were introduced on 1st October 2023. Although the initial transitional period was set to end on 6th

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Mayor partners with private firms to accelerate transition to net zero

Mayor partners with private firms to accelerate transition to net zero

West Yorkshire is set to become “greener, quicker” thanks to a groundbreaking new partnership between the public and the private sector, Mayor Tracy Brabin will say today. The West Yorkshire Strategic Climate and Environment Partnership was announced today at the major international investor conference, UKREiiF. It will see the re-elected

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Looking Forward To New York's $12BN Casino Skyscraper

Looking Forward To New York’s $12BN Casino Skyscraper

The Big Apple is planning on building a 12 billion dollar hotel-casino skyscraper making it the most glamorous place on earth. The ambitious project of this casino shall help in promoting New York as a leader in terms of luxury and leisure, a city full of towering architectural wonders, and

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Latest Issue

BDC 317 : Jun 2024

May 27, 2024

Preferred Bidder announced for the refurbishment and redevelopment of the College of St Hild and St Bede

Preferred Bidder announced for the refurbishment and redevelopment of the College of St Hild and St Bede

Durham University has selected UPP to be the Preferred Bidder to develop, in a partnership, a detailed scheme proposition for the refurbishment of the College of St Hild and St Bede on its historic Riverside location and the development of new college accommodation at the Leazes Road site. UPP are the leading provider of on-campus student accommodation infrastructure in the UK. One of the key drivers for this project for both Durham University and Durham City is to increase the proportion of students living in high quality Durham University owned or managed accommodation. Jeremy Cook OBE, Pro-Vice-Chancellor (Colleges and Student Experience), Durham University commented “We are delighted to announce UPP as preferred bidder and look forward to working together to develop a scheme for the redevelopment of the Leazes Road site. The project will seek to rejuvenate The College of St Hild and St Bede on its iconic and beautiful site on the slope of the river Wear, providing excellent accommodation with a first-class student experience for the future. In securing preferred bidder status, UPP is working in partnership with the University to shape exciting plans and state of the art designs for accommodation at the Leazes Road site.” While this work takes place, the College of St Hild and St Bede will be located at Rushford Court – offering modern, purpose-built student accommodation, within walking distance of the city centre. Durham University highlighted some particularly important factors in their choice of UPP including:  UPP will now continue to work with Durham University to refine the proposal with the scheme currently scheduled to start in 2025.  Elaine Hewitt, UPP CEO said:  “UPP is delighted to be working on this incredibly important project at Durham University. This scheme is about respecting, protecting and enhancing the history and heritage of Durham University for the benefit of future students. We are excited to co-create an environment that puts student experience at its heart, building on each unique college identity.”  UPP is the UK’s only multi-discipline, full-service Design, Build, Fund and Operate (DBFO) company that is dedicated to the Higher Education sector. With over 25 years of experience operating in the sector and having invested over £3.5bn, UPP has a strong track record of delivering next generation campuses at scale.  Find out more The College of St Hild and St Bede Refurbishment and redevelopment plans Rushford Court UPP Building, Design & Construction Magazine | The Choice of Industry Professionals

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British Land Announces Sale of Its 50% Meadowhall Stake

British Land Announces Sale of Its 50% Meadowhall Stake

In line with its strategy to focus on retail parks and reduce exposure to covered shopping centres, British Land has exchanged contracts for the sale of its 50% stake in Meadowhall Shopping Centre to its partner, Norges Bank Investment Management, for £360 million. Earlier this year, the joint venture also sold some ancillary land for £7 million (British Land’s share). Together, these deals value the entire Meadowhall estate at £734 million, which is 3% above its September 2023 book value. After accounting for net debt of approximately £200 million, the expected proceeds are around £156 million. The impact on FY25 NTA per share is projected to be negligible, with an estimated FY25 EPS dilution of 0.6p prior to reinvestment. The transaction would reduce HY24 proportionally consolidated LTV by 2.7 percentage points. As part of the agreement, British Land will continue to serve as the asset manager for Meadowhall Shopping Centre, earning fees in line with current terms. The transaction is anticipated to complete in July 2024, with the proceeds being utilised for general corporate purposes, including reinvestment into retail parks. Simon Carter, Chief Executive of British Land, said: “We have had a successful partnership with Norges over many years and are delighted to continue to work alongside them as asset managers of the centre. Following the sale of Meadowhall, 93% of our portfolio is now in our preferred segments of retail parks, campuses, and London urban logistics. We will continue to grow our retail park portfolio; with low capex requirements, parks offer attractive cash returns and at 99% occupancy, we are delivering strong rental growth.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Clegg Construction completes £9m care home near Tadcaster

Clegg Construction completes £9m care home near Tadcaster

Contractor Clegg Construction has handed over a new 65-bedroom care home to Barchester Healthcare. The £9m Highfield Care Home at Barkston Ash in North Yorkshire is located on the former Scarthingwell Park Estate and replaces an ageing care home that had previously been on the site. The new two-storey facilities include lounge, dining and communal areas and will provide 24-hour residential care tailored to the individual in a warm, friendly, and modern environment, as well as specialist care for those living with dementia. Throughout the build, Clegg Construction consistently achieved high Considerate Constructors Scheme (CCS) scores in testament to Clegg’s engagement with the local community, its approach to safeguarding the environment, and the protection of the workforce. Darren Chapman, operations director at Clegg Construction, said: “Highfield Care Home is situated in an idyllic location, with peaceful and picturesque surroundings which will provide future residents with a sense of well-being. It is less than five minutes away from Tadcaster and all the services and facilities that the town offers. “Clegg Construction is proud to have delivered such a wonderful scheme for Barchester Healthcare, which has a reputation for providing high quality, person-centred care services in superior care environments.” Clegg Construction has vast experience in managing the construction of new-build, state-of-the-art care and nursing homes across the country for a number of respected operators, delivering over 400 care home beds in recent times. As part of its commitment to engaging with the local community during the build of Highfield Care Home, Clegg Construction visited Barkston Ash Catholic Primary School to speak to pupils about how local flora and fauna have been protected during construction and also organised a bird box design competition. Clegg also donated fencing to a local residents’ group and wood to residents. More than 20 existing trees and hedgerows on the site, including a mature turkey oak, a sycamore maple, a Lawson cypress, and a hazel tree, were safely protected, and common pipistrelle bats found at the site were moved to a place of safety. The team on the Highfield Care Home scheme working alongside Clegg Construction included project manager and quantity surveyor Holden & Lee, architect Harris Irwin Architects, structural engineer Cameron Darroch Associates and M&E consultant Harniss. Senior Property Development Manager for Barchester Healthcare, Michael Coggin, said: “We’re now welcoming residents to our stunning new care home in Tadcaster. Not only will our residents have a home set in beautiful grounds, the new home will also offer a range of job prospects boosting employment in the neighbouring areas. We look forward to showcasing our home to the local community, if anyone has questions about care please do come and see us.” Clegg Construction is a Midlands, East Anglia, and Yorkshire-based construction firm specialising in the delivery of public and private sector projects.   The company works with organisations of all sizes and specialties across a range of different sectors. For more information visit www.cleggconstruction.co.uk For more information about Barchester Healthcare visit https://www.barchester.com/ Building, Design & Construction Magazine | The Choice of Industry Professionals

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Midlands Engine Partnership showcases £48bn+ investment opportunities across the Midlands at UKREiiF 2024

Midlands Engine Partnership showcases £48bn+ investment opportunities across the Midlands at UKREiiF 2024

The Midlands Engine Partnership came together at this year’s UK Real Estate Infrastructure Investment Forum [21-23 May] to showcase to a global audience partner priority investment propositions worth in excess of £48bn and with the potential to create around 380,000 jobs – more than doubling current jobs in the region.  For the first time, the Midlands Engine Partnership hosted its own pavilion giving local authority, business and university representatives a platform to present investment opportunities from across the Midlands.  Panel discussions covered diverse topics from how Lincolnshire is powering the low-carbon energy sector, and how multiple developments will rejuvenate Derby city centre, to how Worcester’s Shrub Hill Development will bring a boost to the city with 5000 new jobs.  Panel sessions in the pavilion were followed by the Midlands Investment Reception on Tuesday evening. An established event at UKREiiF, the Reception featured a welcome from Sir John Peace and the newly elected combined authority mayors – Richard Parker for the West Midlands and Claire Ward for the East.  An updated Midlands Investment Portfolio worth £48bn+  Midlands Engine partner priority propositions can be accessed through the Midlands Investment Portfolio, updated for 2024.  Newly added propositions include: St George’s’ development site in Wolverhampton city centre; Nottingham Studios, home to the recently launched R&I hub; and Sandwell’s ‘Grove Lane Masterplan’, a key regeneration area delivering more than 800 new homes in Smethwick.  Altogether, the updated portfolio showcases the 90 most significant capital investment opportunities in the Midlands across a range of sectors, with a Gross Development Value over £48bn.  Presenting a clear, easy-to-use tool for investors, the sites within the Portfolio have the potential to create 380,000 jobs, driving economic and social prosperity across the Midlands region.  Sir John Peace, Chairman of Midlands Engine, said:  “The potential for the Midlands to lead the way in driving national economic growth is hugely significant. UKREiiF continues to provide the Midlands Engine Partnership with the platform it needs to demonstrate to global investors that investing in the Midlands and its exceptional development opportunities is a sound business decision.”  Launch of ‘Invest in UK University R&D’ campaign with £3 million fund  A campaign demonstrating how university research and development can be the catalyst for investment in the region was also officially launched at the Midlands Investment Reception at UKREiiF. The campaign, co-led by Midlands Innovation and Midlands Engine, presents five investment prospectuses – each with a focus on a sector where the Midlands leads the world in R&D: agri-tech, creative and digital, health and life sciences, transport technology and zero carbon energy.  Speaking at UKREiiF, the Minister for Science, Innovation and Technology, Andrew Griffith MP, announced an award of £1.5 million from the UK’s International Science Partnerships Fund (ISPF) to support the campaign over the next two years. This is being matched by regional partners to provide £3m. The Minister said: “‘UK universities have directly attracted nearly £5bn of international industry funding into their research since 2015. But they are also a significant part of the UK’s global reputation as one of the world’s most innovative economies – attracting global investment that grows our economy and improves lives for people across Britain. I am delighted to announce £1.5m of Government support from the International Science Partnership Fund for this pioneering Campaign – led by our world-class universities in the Midlands. With this support, and working in partnership with the Government’s Science Innovation Network, universities will leverage their extensive global connections to alumni, industry and research to help drive inward investment into the regional economy.’  Sir John Peace, Midlands Engine Chairman, commented: “Our universities continue to be drivers of innovation with huge potential to attract investment from across the world. This campaign – the first of its kind – puts Midlands universities at the forefront of driving growth in the regional and wider UK economy.”  Read more about the campaign launchwww.midlandsinnovation.org.uk/midlands-universities-launch-3m-campaign  Building, Design & Construction Magazine | The Choice of Industry Professionals

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MAJOR CHANGES TO THE BUILDING SAFETY ACT: WHAT TO LOOK OUT FOR

MAJOR CHANGES TO THE BUILDING SAFETY ACT: WHAT TO LOOK OUT FOR

Following the Grenfell Tower tragedy, the Building Safety Act 2022 aimed to revolutionise the way buildings are designed and constructed. While this was a major shift in the regulatory framework, further significant changes were introduced on 1st October 2023. Although the initial transitional period was set to end on 6th April, this was extended until 6th July to avoid the industry grinding to a halt. So, what should we look out for now that built environment professionals have longer to prove their competence? Seen as a more stringent regime for the regulation of all controlled building work, including the statutory registration of all building control inspectors, the amendments will create a category of ‘higher risk buildings’ (HRBs) that will be overseen by the Building Safety Regulator (BSR). In fact, the Act will create a more rigorous and demanding regime for the planning, design, construction and operation of prescribed classes of buildings, with new building control and planning gateways, safety cases, accountable persons, and a statutory golden thread of information, all linked to a formal certification of a building by the BSR. Additionally, the introduction of new regulations covering the competence of those who undertake building work and new statutory roles for designers and contractors on all projects will apply to not just HRBs but all building work, impacting any project that requires building regulations approval – with only limited exceptions.   While the transitional period has been extended, it’s imperative that industry professionals understand exactly how these regulation changes could impact the industry after 6th July 2024. What has changed and how will this impact the industry? Under the new regulations, the BSR became the building control body for new HRBs, overseeing safety standards and implementing the new regulatory framework for high-rise buildings. These are classed as any buildings at least seven storeys tall and over 18 metres in height. Additionally, they must contain at least two residential units, including care homes, student accommodation and hospitals. These buildings must have been registered with BSR by 1st October 2023. In fact, any building work on an HRB will need to be submitted to the BSR for approval. Local authority building control departments and approved building inspectors will no longer be able to handle these applications. Any construction projects face three safety checkpoints, with Gateways Two and Three now impacted by the new Building Safety Act regulations. Indeed, Gateway Two requires applicants to submit building control applications to BSR before construction can commence. Gateway Three sees the BSR assessing whether work has been completed in line with building regulations before occupation.  For higher-risk building projects to continue under the current framework, initial notices or full plans had to have been submitted and not rejected by 1st October 2023. Furthermore, the project must have ‘sufficiently progressed’ by the original deadline of April 6th 2024. Any projects that met these criteria won’t have been subject to Gateways Two and Three. All information submitted in support of an HRB application will also be stored in the ‘Golden Thread’ of information, a key recommendation of the Grenfell enquiry. This allows anyone involved in a project to understand the building and the steps needed to keep both the building and its occupants safe. Safety case reports, summarising major structural and fire hazards and risk management measures, are also mandatory. In fact, principal accountable persons must have identified and assessed safety risks, underlined how safety incidents can be prevented and revealed measures to mitigate their severity. Only registered building inspectors will be able to work in building control The amendments to the Act will also see the introduction of registered building control approvers and registered building inspectors, who will provide advice to those overseeing building work. Collaborating with the registered building control approvers, these inspectors will assess workmanship, materials and adherence to plans and issue completion certificates or notices of non-compliance. All building control approvers and inspectors now need to be registered, with a code of conduct and defined registration criteria established by BSR. These professionals will be required to complete their accreditation by the newly extended 6th July 2024 deadline. There are still many practicing professionals yet to start their applications to register According to the latest figures from the BSR, around 3,200 practicing professionals have started their applications to register. That means that as it stands, around 72% of all building control surveyors will likely be registered by the 6th July deadline. Any building control surveyors only registered at class one by the now 6th July deadline, will be unable to carry out building control functions unsupervised. While the deadline has been extended, there are fears in the industry that many professionals are going to be unable to get their credentials in order. This is partly down to the BSR’s schema of registration classes and sub-classes being so complex. Additionally, for higher levels, there are exams to be passed, not something therefore that can be done instantaneously. With the process being so important in establishing building control as a regulated profession, it’s imperative that action is taken without delay. This is especially pertinent given that the BSR has made it clear that there will be no further extensions to the 6th July deadline. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Mayor partners with private firms to accelerate transition to net zero

Mayor partners with private firms to accelerate transition to net zero

West Yorkshire is set to become “greener, quicker” thanks to a groundbreaking new partnership between the public and the private sector, Mayor Tracy Brabin will say today. The West Yorkshire Strategic Climate and Environment Partnership was announced today at the major international investor conference, UKREiiF. It will see the re-elected West Yorkshire Mayor team up with four major private sector firms to accelerate delivery of the region’s net zero plans. The companies will work alongside the Mayor on targeted activity to deliver green skills, decarbonise homes and businesses, and put the region on the path to net zero carbon by 2038. In return, the firms will benefit from the Mayor and Combined Authority’s influence and leadership on climate and the environment, giving them the confidence to invest in West Yorkshire at scale. Tracy Brabin, Mayor of West Yorkshire, said: “During my first term, I was proud to invest over £200 million in green projects. Working with partners, we insulated social homes, match-funded businesses to green their processes, put electric buses on our roads, and provided direct grants to communities to lower their carbon footprint. “But we will not deliver net zero without bringing the private sector with us. This groundbreaking new partnership will help us become greener, quicker and deliver net zero at scale and at speed, cutting energy bills in a cost of living crisis, and building a brighter region for future generations.” The four firms which make up the new climate partnership with the Mayor are: Dan Rosenfield, Managing Director of Centrica Net Zero, said: “Helping people live smarter, greener lives requires strong collaboration and partnerships. We’re delighted to work with West Yorkshire Combined Authority to support their net zero journey. “Our purpose is to energise a greener, fairer future. We will work collaboratively with WYCA and other partners to help make net zero simple and affordable, utilising our Hive smart energy system and inhouse expertise.” Hiro Ishikawa, Managing Director of Daikin UK, said: “Daikin is delighted to be a strategic partner of the West Yorkshire Strategic Climate & Environment Partnership.  “Switching to sustainable energy is critical to meeting net zero targets, and our heat pump solutions will help make homes greener, warmer, and more energy-efficient. This exciting new partnership means we will work together to support the region in its vital decarbonisation goals. “We look forward to working closely with communities and wider stakeholders to develop and upskill the West Yorkshire region, and support the low-carbon transition.  Neil Kirkby, Managing Director of Enterprise at SSE Energy Solutions, said: “Our agreement to work closely with the West Yorkshire Combined Authority (WYCA) is further evidence of SSE’s commitment to engaging with local communities to ensure a fair transition to a sustainable future. Our expertise in decarbonisation and renewable energy together with the WYCA’s ambition to play its part in tackling climate change has enormous potential to drive change and this collaboration is one that can be replicated with regions throughout the UK and Ireland. “At SSE we are investing in the communities where we operate, driving local economic growth, and working to unlock the potential of low-carbon technologies. If we can foster the development of a skilled green workforce, we will build a cleaner, greener future for generations to come.” Derek Horrocks, Owner of Sustainable Building Services (UK) Ltd, said: “We are absolutely delighted to have been selected by The West Yorkshire Strategic Climate and Environment Partnership as one of the four major private firms to come together with them to form this ground breaking Public/Private strategic partnership to create large scale green communities with a central ethos of ‘greener quicker for future generations’ across West Yorkshire. “We look forward to bringing our expertise to this collaboration in delivering building decarbonisation at scale and speed, alongside our wider group offering of blending private/public sector funding and vision to offer every household a financially viable solution to decarbonise their homes, alongside our extremely innovative Fintech and Proptech offerings to support the funding of solutions for all and to provide the ability to monitor and evaluate closely the outcomes of the decarbonisation interventions we install”. To turbocharge the road to net zero, the Combined Authority will also deepen its relationship with the Green Finance Institute, Leeds Building Society, and the Energy Saving Trust. The three organisations will advise and support the Mayor to deliver on her most recent election pledges. Mayor Brabin has promised to put in place a programme to retrofit every social home in West Yorkshire, and to set-up a retrofit “one-stop-shop” to help every household reduce their energy bills. Leeds Building Society’s Senior Strategy Manager, Nicola Glover, will be working closely with the Mayor over the next three months to explore the financial options for West Yorkshire residents to deliver retrofit work that improves the energy efficiency of their homes and reduces their energy bills. Andrew Greenwood, Deputy Chief Executive Officer at Leeds Building Society, said: “We are proud to contribute Nicola’s time and expertise to simplify the finance options for greener home improvements within our heartland. We recently conducted some research* which shows that 8% people don’t know where to start when considering making green improvements to their home. We hope this partnership will help to simplify the process for those considering starting any retrofit work on their home. “Leeds Building Society is committed to an orderly transition to net zero. We were the first lender to reward buyers opting for greener homes by factoring in lower energy bill commitments into our lending decisions. Through this partnership, we hope to be able to help more people to improve the energy efficiency of their homes.” Emma Harvey-Smith, Chief of Staff at the Green Finance Institute, said: “Local and Combined Authorities have a deep understanding of their residents’ needs and are increasingly acknowledging the potential of partnering with the private finance sector to ensure fair access to finance for their communities.“We are thrilled to engage in the collaboration with WYCA and Leeds Building Society to support the Better Homes Hub programme. Together, we will

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Looking Forward To New York's $12BN Casino Skyscraper

Looking Forward To New York’s $12BN Casino Skyscraper

The Big Apple is planning on building a 12 billion dollar hotel-casino skyscraper making it the most glamorous place on earth. The ambitious project of this casino shall help in promoting New York as a leader in terms of luxury and leisure, a city full of towering architectural wonders, and a lively spot for entertainment. Wynn New York City has recently revealed beautiful photos which are all about the condo tower designed in the latest way, with every part of it reflecting sophistication and luxury. The glass exterior of the building will let the city have a fresh museum with its glittering, appealing façade while standing above the clouds of New York. Besides its ravishing look, this resort is also marking a new era of the city’s dynamic entertainment and hospitality with the ever-growing demand for themed entertainment. As if revealing the extension of the current worrying scenario, large-sized projects like this indicate a continuous hopeful and investment outlook for the city. At the heart of this project is the integration of a world-class casino, offering visitors a lavish gaming experience unlike any other. With the dramatic rise in popular casino games online, one can argue that this project makes sense in tapping into the growing demand for immersive and experiential entertainment options. By combining the allure of traditional casino gaming with cutting-edge technology and amenities, the Wynn New York City aims to set a new standard for luxury gaming destinations. Furthermore, the skyscraper will be equipped with various facilities and attractions that are planned to be enjoyed by a varied group of people. Wynn New York City contains high-end restaurants, exclusive shops, spa facilities with the latest technology, and entertainment programs and thus aims to be a touchstone of attraction. Wynn New York City has something for everyone, whether they are looking for an adrenaline rush or a peaceful place to unwind, as the city is a complete destination with numerous possibilities. Aside from the fun it brings, Wynn New York City shall also be the developer of the economy, and this will be significant. The project construction is going to produce thousands of work opportunities, in addition to the ones that will arise at the time when the property will be functioning. Besides the real estate, which is the prime business beneficiary, the location will also benefit as we can expect various industries to utilise the tourists’ wave and thereby influence the dealer and the neighbourhood positively. Yet the journey to the full realisation of this ambitious goal might be marked by a few obstacles. Like every gigantic project, the project will be subject to a number of legal constraints, and the approval process will require technically feasible planning and coordination of all involved parties. Furthermore, the issue of the skyscraper’s influence on the urban areas and greenery will be a major concern, and it is our duty to deal with it properly. Despite these challenges, the unveiling of plans for the Wynn New York City marks an exciting chapter in the city’s storied history. As New York continues to evolve and adapt to emerging trends and technologies, projects like this serve as a testament to the resilience and innovation that define the city’s spirit. In the midst of uncertainty and upheaval, the promise of a $12 billion casino skyscraper offers a glimmer of hope and excitement for New York City’s future. With its blend of luxury, entertainment, and economic opportunity, the Wynn New York City is poised to redefine the skyline and capture the imagination of visitors from around the world.

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