September 6, 2024

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its

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JLP submits proposals for Reading site

JLP submits proposals for Reading site

The John Lewis Partnership (JLP) has submitted plans to transform a former distribution warehouse in Reading into rental housing. The proposals were submitted to Reading Borough Council. JLP’s proposed regeneration of the site will see more than £80 million invested to create 215 high-quality and energy-efficient homes, as well as

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Cambridge joint venture gets approval for Histon Road scheme

Cambridge joint venture gets approval for Histon Road scheme

Cambridge Investment Partnership (CIP) and housebuilder, The Hill Group, has secured plans to redevelop the ATS and Murketts site on Histon Road, Cambridge. The site, formerly home to the Murketts car dealership and an unused workshop area of the ATS commercial unit, will be transformed into a residential development comprising

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Latest Issue

BDC 321 : Oct 2024

September 6, 2024

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its retail park footprint. These acquisitions are set to enhance British Land’s earnings, with projections indicating an increase in FY26 earnings per share by 0.7p, fully offsetting the dilution from the Meadowhall sale. Pro forma leverage, following the Meadowhall disposal, was 34.6% for FY24, with the new acquisitions raising this by 1.8%. The six retail parks acquired since April feature an impressive weighted average unexpired lease term of five years. They are let to strong multi-channel and essential retailers, known for their stable financial performance: Simon Carter, Chief Executive of British Land, commented on the acquisitions:“We’re seeing great opportunities to invest in retail parks, and we’ve quickly delivered on our plan to fully offset the earnings dilution from the £360 million Meadowhall sale with the acquisition of £240 million in high-quality retail parks at attractive yields. With low capital expenditure requirements and 99% occupancy, our retail parks portfolio is generating strong rental growth and offers attractive cash returns.” British Land’s investment in these prime retail parks highlights its commitment to capitalising on opportunities within the retail sector, ensuring strong returns while continuing to grow its portfolio across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Countryside and Abri appoint Rund as Joint Venture Supervisor on major residential development

Countryside and Abri appoint Rund as Joint Venture Supervisor on major residential development

Rund has been appointed as Countryside and Abri’s Joint Venture Supervisor for a significant development on the former Ford Airfield in West Sussex. The plan will transform the site with a 60-bed care home and 1,500 homes, of which 960 of the homes form the joint venture with the remainder retained by Vistry Group. This includes shared ownership, first home and rental tenures. A minimum of 30% will be affordable housing, with a further 20% allocated as either build to rent (BTR) or additional affordable housing. Alongside this, the development is set to bring multiple benefits to the community, including plans for a new local centre with commercial and retail amenities, extensive community and leisure facilities, allocated land for a new primary school, and expansive public areas such as sports fields and allotments. As Joint Venture Supervisor, Rund will manage and facilitate decisions between all parties to understand and advise, where necessary, on all aspects and phases of the construction programme. The expert team will help ensure long-term positive relationships by providing regular reporting, support, review of financial modelling, and guidance in board meetings, to keep the project moving forward whilst maintaining a duty of care to Countryside and Abri and their partners. Leading to this appointment Rund provided Technical Due Diligence services to Abri, a large housing provider with more than 50,000 home and various community assets, on its 50/50 joint venture acquisition of the former Ford Airfield, as part of the JV acquisition with Countryside. The expert team provided technical due diligence surveys and reports focused on risk identification, mitigation and management as well as development funding agreements, carefully tailored to Abri’s requirements. Rund’s role has been instrumental in structuring a deal that works for both partners, giving them confidence in the site’s potential from the earliest stage. Jo Rothery, Senior Surveyor at Rund commented, “We’re looking forward to working with the team on this significant project, using our experience to make sure it delivers the best outcomes at all stages. This is a substantial project that is set to significantly impact the supply of affordable housing in West Sussex, and bring extensive benefits to the local community. “Rund understands the complete process to achieve success for JV stakeholders and has a proven track record, with the team currently working on leading JV and strategic developments nationwide, totalling over 10,000 residential units.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Local community broadly welcome regen plans for Grey Mare Lane estate following consultation

Local community broadly welcome regen plans for Grey Mare Lane estate following consultation

The regeneration masterplan for the Grey Mare Lane estate has been met with broad approval from the east Manchester community a new report going to the Council executive committee (Weds 11 September) has concluded.  The Council-built estate is more than 50years old and represents a key regeneration location as part of the ongoing transformation of east Manchester. (See notes to editors)  An 8-week consultation started in May this year and gathered feedback from local people via both online submissions and an in-person engagement event held in the estate. A community steering group made up of residents, elected members and Council officers also meet regularly to discuss and input into the planning process for the estate investment.   The masterplan is a high-level overview of the regeneration opportunities within the estate, which envisages a highly sustainable investment programme that will deliver at least 1,000 new homes – including a significant number of affordable homes and new green spaces.   Feedback from local residents included:  This feedback will be included in the final masterplan document for the estate, which will help guide investment in the area in the years to come.  Future investment in the Grey Mare Lane estate will include:  Architect BDP have delivered the masterplan on behalf of the Grey Mare Lane partnership.    First Development sites – update  Concurrently with the masterplan consultation, Great Places Housing Group undertook targeted engagement around their development site at the corner of Grey Mare Lane and Ashton New Road.   The proposed scheme will deliver a block of 69 apartments for social rent providing a landmark gateway development into the Masterplan area.      A planning application for this site is expected to be submitted in the Autumn.   At the same time, One Manchester is continuing to prepare their development sites and demolitions are ongoing to enable future development.   Any affected residents have been part of this conversation for some time and we have made a commitment that anyone who has had to move to allow the regeneration of the estate will have the right to return to the estate if they want to.   Cllr Gavin White, Manchester City Council’s executive member for housing and development, said:    “The feedback we receive directly from local people – both through the consultation and the community steering group – is quite often the most impactful. Knowing what a neighbourhood needs is best explained by the very people who live and use the area every day.   “Through this investment we will see at least 1,000 new homes – including lots of affordable homes – a new heart and focal point of the estate with new shops and community facilities, and lots more green and play spaces.   “Thank you to everyone who took part – your feedback will help guide future development proposals for the Grey Mare Lane estate, and we’re looking forward to the first planning applications being submitted late this year.”  Helen Spencer, Executive Director of Growth at Great Places, said:    “We’re delighted to see the community’s positive response to the Grey Mare Lane estate regeneration plans. The project is a great opportunity to provide much-needed affordable housing in the area and vibrant green spaces, enhancing residents’ quality of life.  “The feedback will provide invaluable input to ensure our planned developments meet the community’s needs, and we look forward to continuing to work with Manchester City Council, One Manchester, and This City to bring this vision to life.”  Barry Wears, Chief Financial Officer, One Manchester, said:  “It’s great to see things moving forward for the community. As we prepare our development sites and carry out necessary demolitions to make improvements for the community, we’re committed to making sure any affected residents are part of the conversation. We’ve pledged that those who’ve had to move due to the works will have the right to return to the estate if they want to. Our ongoing collaboration with partners and keeping the community involved will make sure that the development will boost the area and support the needs of local residents.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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TaperedPlus partners with Alt Labs to revolutionise roofing sector with Augmented Reality system

TaperedPlus partners with Alt Labs to revolutionise roofing sector with Augmented Reality system

TaperedPlus, a national leader in the design and supply of flat roofing and insulation systems, is currently evaluating a bespoke Augmented Reality (AR) system that could prove a gamechanger within the roofing industry. Developed by award-winning digital innovators Alt Labs on behalf of the Teesside-headquartered company, the software enables smartphones and tablets to be used to scan a flat roof, providing instant and highly accurate measurements. Unlike other applications currently being used within the roofing industry, it does not require significant investment in hardware or expensive monthly subscription packages, which can cost many thousands of pounds per user per year. The Alt Labs technology automatically uploads the data to TaperedPlus’s internal system, converting it into technical blueprints – a process at least ten times quicker than traditional measuring methods, particularly when applied to complex flat roof designs. It also eliminates the element of human error. Alt Labs, based in Middlesbrough, was approached by TaperedPlus to deliver a solution that would enhance efficiency. It developed bespoke software utilising light detection and ranging (LiDAR) sensors incorporated into Apple smartphones and iPads. This uses light emitted from a sensor to measure the range to a target object, allowing augmented reality to place markers that plot key points of a roof for precise measurements. The technology is both highly secure and easily scalable and can be adapted for immersive technology, including Virtual Reality headsets. Part of TaperedPlus’s ambitious growth plans, the project follows a recent £5.5 million investment by equity investor BGF along with achieving B Corp accreditation, reflecting its commitment to targeting inefficiency within its procedures. It is also working with academics at Teesside University as part of a separate initiative to develop a unique system that uses Artificial Intelligence (AI) to streamline its technical drawing processes. Aman Chahal, co-founder and CEO of TaperedPlus, said: “We are thrilled to be at the forefront of technological innovation within the roofing industry. This AR system will significantly enhance our efficiency and accuracy, allowing us to better serve our customers and contribute to more sustainable building practices. The integration of AR and AI marks a significant milestone in our digital transformation, opening up new possibilities for growth and innovation.” Imran Anwar, CEO of Alt Labs, added: “Our bespoke solution leverages cutting-edge technology to transform how roof measurements are captured and processed, setting new standards for the industry. This technology is not only innovative but versatile, with the potential for wide-ranging applications across multiple sectors. By utilising LiDAR and augmented reality, we are able to provide unprecedented accuracy and efficiency, which could prove a real gamechanger.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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JLP submits proposals for Reading site

JLP submits proposals for Reading site

The John Lewis Partnership (JLP) has submitted plans to transform a former distribution warehouse in Reading into rental housing. The proposals were submitted to Reading Borough Council. JLP’s proposed regeneration of the site will see more than £80 million invested to create 215 high-quality and energy-efficient homes, as well as 6,000 sq ft of internal amenity space, including space for community use, two new external garden spaces and improved public realm. Located next to the A329 and opposite the Oracle shopping centre in central Reading, the site benefits from close proximity to Reading Train Station, providing access to Central London in less than an hour. The homes will be purpose built for renters with shared areas for fitness, home-working and socialising, and will include a mix of one, two and three-bedroom homes to accommodate different sized households. Options for long-term tenancies with a recognised and trusted brand will be offered to provide residents with the opportunity to remain living there for as long as they wish. The homes will be highly sustainable, using high performance materials with renewable energy resources. Given its proximity to the town centre and local transport network, the development will be car-free with the exception of accessible spaces. New green spaces for the public, including children’s play, and a new space for local community groups has been included. The proposals have sought to establish new community partnerships that build on the work already being done by the existing local Waitrose and John Lewis shops. The scheme will provide 10% affordable homes at Reading Local Housing Allowance levels. Additionally, it is estimated to generate more than £1.9m million of new household spend per year, supporting local shops and services. JLP aims to prioritise residents already living and working in Reading, with the 2021 Census finding 48% of the population renting compared to an average of almost 38% across England, and population growth of 12% since 2011. Transforming a disused industrial site to create a thriving new rental community will help the town to retain talent and support residents who want to see better quality rented housing. The Reading proposals reinforce JLP’s ambition to create a rental housing brand that will manage homes designed specifically for rent in a bid to ease housing pressures and generate long-term, stable income to support investment back into our Waitrose and John Lewis brands. A core part of the strategy is renewing brownfield sites that have great transport connections, enabling people to travel to work quickly and sustainably. JLP recently received a resolution to grant planning consent to transform a Waitrose site in south London, next to Bromley South rail station, and is progressing another application in West Ealing five minutes from the local Crossrail station. Katherine Russell, Director of Build-To-Rent for the John Lewis Partnership, said: “We have worked closely with Reading Council’s planning officers, local residents and organisations to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community. By revitalising brownfield land we have a fantastic opportunity to provide a significant number of homes which can help alleviate some of the growing pressure on Reading’s housing market. These will be homes not only developed by us, but managed by us, meaning we can offer quality service and a guarantee that homes will not be sold off, as so often happens in the rental market.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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CRL and Tunley Environmental Partner to Drive Green Construction Solutions

CRL and Tunley Environmental Partner to Drive Green Construction Solutions

With over 65 years of experience, Concrete Repairs Limited (CRL) has built a strong reputation in the repair and refurbishment industry based on their outstanding quality of work and innovative engineering. As one of the leading specialist contractors in the UK, CRL offers comprehensive services that are by their nature sustainable to inspect, repair, rehabilitate, and strengthen structural concrete assets in various sectors, including Highways, Water, Marine, Nuclear & Power. In order to expedite their sustainability and social value aims and goals, CRL recently entered into a partnership with Tunley Environmental. As they begin their new financial year, their focus on building a sustainable future for all and reinforcing their goals will be bolstered by the strong support of Tunley Environmental. Following the measurement principles BS EN ISO 14064-1 and the Greenhouse protocol for SERC reporting, CRL and Tunley will work together to accurately baseline existing carbon usage and produce a targeted carbon reduction plan for the business. Steve Jones Southern Regional Director at CRL said “CRL are delighted to be working with Tunley Environmental to develop our Carbon reporting and subsequent reduction plans, as well as the production of lifecycle assessments for our repair processes that will be used in conjunction with procedures for PAS2080”. “We are pleased to join forces with CRL, supporting them in their sustainability journey,” said Dr William Beer, CEO at Tunley Environmental. “It’s brilliant to have the opportunity to work with such a well renowned company in the repair and refurbishment industry”. As proud supporters of the Institution of Civil Engineers, their work strongly incorporates the guidelines laid down by ICE’s Carbon Project Initiative. This will include working with Tunley Environmental to gain PAS2080 accreditation for the project management of carbon in infrastructure incorporating lifecycle assessments in line with ISO 14067 to demonstrate the carbon credentials of asset maintenance using repairs, coatings and corrosion control systems. With Tunley Environmental in partnership, CRL looks forward to delivering significant change and furthering their sustainable and social value initiatives, backed up by quality data and meaningful assessments. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Harlyn wins third Oceans Winds project to collect and store spare inter array cables at Moray West

Harlyn wins third Oceans Winds project to collect and store spare inter array cables at Moray West

North East-based Harlyn Solutions Ltd (Harlyn) has signed an agreement with Ocean Winds for the collection, storage, and emergency preparedness of Moray West’s spare inter array cables (IACs).  Moray West is a new offshore wind farm in the outer Moray Firth and this exciting project is set to make a vital contribution to Scotland’s renewable energy and climate change targets. Moray West is overseen by Ocean Winds, the 50/50 joint venture between EDP Renewables and ENGIE. Moray West, a key part of the energy transition and the drive to Net Zero emissions, started generating power to the grid in July and will consist of 60 wind turbines, each with a generating capacity of 14.7 megawatts. Harlyn, a UK engineering company, has been appointed to collect and store the spare inter array cables at its facility in the Port of Blyth. This comes after Harlyn successfully delivered two other projects for Moray West, including the transportation of both substations and the cleaning of monopiles infield.  Harlyn has an excellent track record of delivering flexibles. Last year, the engineering company designed bespoke baskets to transport two fibre optic cables and also delivered six 1,500 tonne baskets of flexible pipe.  Hamish Adamson, managing director of Harlyn, said: “I am thrilled that our unique problem-solving approach to projects has been picked up and understood by Ocean Winds. Our teams have worked hand-in-hand across multiple scopes and this long-term project shows the dependability of the team we have at Harlyn as being the partner of choice for these complex challenges.” Pete Geddes, Moray West Project Director at Ocean Winds, said: “We’re delighted to be using Harlyn to store our cables in the UK. Delivering local content is important to Ocean Winds and working with Harlyn for a third scope we are able to support a thoroughly competent UK supplier.”  Joanna Stewart, Harlyn project manager, said: “I am excited to be leading on and delivering this complex multi-disciplinary project collecting the cables and storing them for years to come. It highlights the skills and expertise that Harlyn has to offer, from complex project management through to detailed spooling and flexible engineering.” The work will be delivered over the next few months before the cables and cable accessories will enter storage. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Ramboll launches District One platform to advance UK’s district heat networks

Ramboll launches District One platform to advance UK’s district heat networks

Heat networks in the UK are on the verge of a transformational development. Through the UK government’s 2050 Net Zero ambitions, targets are in place to increase district heat networks from 3% today to 20% by 2050, alongside the National Heat Network Zoning Policy, the number and extent of heat networks is expected to increase substantially. To effectively support with the delivery of the planned roll out of district heat networks, Ramboll has developed District One, an AI-optimised heat network design platform. District One will support landowners, energy companies, developers, and national and local government authorities explore potential heat network routes, using a bespoke spatial machine learning algorithm that rapidly generates intelligent designs. Using local data, District One is designed to assist with the installing of citywide heating and cooling network routes, significantly speeding up their design by identifying the best-suited areas for the installation of heating networks. The platform has already demonstrated its applicability, with District One having been used to create a combined multi-nodal district energy network consisting of 12 independently operating but connected systems. This case study showed that District One can increase the accuracy of a business case when deployed onto a citywide zonal programme by enabling existing infrastructure plans to be more quickly incorporated into modelling. Crucially the use of District One, which avoids reliance on the usual ‘rules of thumb’, enabled a far more accurate design and cost estimation of district heating network assets than would be typically expected for master planning projects on this scale. Commenting on the launch of the District One platform, Guy Milligan, Head of Department – District Energy at Ramboll said: “Heating and cooling networks will have a vital role to play in decarbonising the ways we heat our homes and communities, as well as providing a more affordable alternative to, for instance, individual gas boilers. “We expect to see a significant expansion of heat networks over the coming years, and are pleased to be able to support this through our development of the District One platform, which provides city-scale mapping, allows for more collaborative discussions between stakeholders and more informed decisions early on in the network planning process.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Cambridge joint venture gets approval for Histon Road scheme

Cambridge joint venture gets approval for Histon Road scheme

Cambridge Investment Partnership (CIP) and housebuilder, The Hill Group, has secured plans to redevelop the ATS and Murketts site on Histon Road, Cambridge. The site, formerly home to the Murketts car dealership and an unused workshop area of the ATS commercial unit, will be transformed into a residential development comprising 70 new homes – 28 council homes and 42 market-sale properties. Throughout the planning process, CIP has worked closely with residents and stakeholders, making design changes to the initial planning submission in response to feedback from council officers and the public. Cllr Gerri Bird, Executive Councillor for Housing at Cambridge City Council and CIP board member, commented: “At a time when there is a pressing need nationwide for high-quality, sustainable housing—especially new council homes—we are pleased to see the approval of our development on Histon Road. “This project is a key part of the council’s ongoing efforts across Cambridge to enhance living standards for current council tenants, build additional council homes to meet local demand, and address broader housing challenges, including the need for larger family homes.” Tom Hill, Managing Director at The Hill Group, added: “Throughout the pre-planning process, we engaged with the local community by hosting several consultation events. Following our initial submission, we continued to work closely with planning officers and community members to incorporate their feedback and address any concerns. “As a result, we made several changes to enhance the overall design and functionality of the development. This careful consideration of public feedback underscores our commitment to creating a high-quality, sustainable development that fosters community interaction while meeting the needs and expectations of local residents.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Planning Hub could drive innovation and diverse expertise, says RTPI Scotland

Planning Hub could drive innovation and diverse expertise, says RTPI Scotland

Royal Town Planning Institute (RTPI) Scotland has welcomed the creation of a new Planning Hub, which aims to support the work of local authorities, build skills and capacity, and leverage specialist expertise from outside the planning profession. Dr Caroline Brown, Director of RTPI Scotland, said: “Whilst recent budget announcements from the Scottish Government raise concerns about the impact on funding for nature recovery, active travel, and climate action, we are really pleased to see a more positive announcement about the creation of a new Planning Hub. This is a very positive step, investing new resources into Scottish planning with the potential to bring in diverse expertise and drive innovation in the profession. “The Sottish Government has taken great initiative in setting up a hub that will operate to support the work of local authorities, building skills and capacity by leveraging specialist expertise from outside the planning profession. In our consultation response earlier in the year, we voiced concerns that an initiative like this could create new bottlenecks in local authorities, and it is encouraging to see those concerns addressed in the architecture of the proposed Hub. “The true benefits of the planning hub are likely only be visible over time. Sustained funding is necessary for its long-term viability, and it will need to expand beyond hydrogen to truly impact Scotland’s communities.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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