Costain, the infrastructure solutions company, has appointed Paul Morris as group commercial director, joining its executive board. With 30 years of experience working in people, project and commercial management roles, Paul will be responsible for leading the commercial function and supporting Costain’s growth strategy. Paul joined Costain in 2011 and
“It was a rare opportunity to celebrate all that is special about this place, to remind people of the rich industrial heritage, of the globally recognised engineering and construction expertise that occurred on both banks of the Clyde” – Tony Kettle, Kettle Collective. From a striking glass façade in Reykjavik
Gillingham Football Club is excited to welcome Hochiki Europe as its new Rainham End Sponsor. The agreement will see the Rainham End at Priestfield Stadium renamed ‘The Rainham End in partnership with Hochiki’ until the end of the 2026/27 season. Hochiki, whose European head office and manufacturing plant was established
Prologis UK, a leading owner, developer and investor of logistics property, has leased DC4 Prologis Park Kettering to Mannol, a leading global lubricant supplier. The 10-year lease will support Mannol’s expanding UK operations. Located in the prime logistics ‘Golden Triangle’, the 154,452 sq. ft. unit will provide the space required for
Winvic Construction Ltd, a leading main contractor that specialises in the design and delivery of private and public sector construction and civil engineering projects has welcomed leaders from new client Aitchison Developments and funders Savills Investment Management to the Bourn Quarter site in Cambridge to mark the steel frame erection
OP has been appointed to design and fit out the new UK headquarters of global electronics leader, Epson. The office fit out and design consultancy will transform more than 30,000 sq ft of space at The Clarendon Works, a Grade A office building on Watford’s Clarendon Road. OP will create
Northumbria University in Newcastle has chosen to retain Sodexo for its soft and hard FM services and residential living management contract for a further ten years in a new contract with the addition of a new food offer for the University’s largest Trinity Square student accommodation. Sodexo has been managing
Construction students from EKC Sheppey College in Sheerness got valuable insight into what it’s like to work on a construction site when Jones Homes invited them to its Shurland Park development. The eight students visited the site – where Jones Homes Southern is currently building 171 new properties off Larch
Fire safety specialist and leading installer of passive fire barriers, Injecta Fire Barrier, have forged a new partnership with the Nottingham Skills Academy to offer work engagement for young people. To help invest in the futures of aspiring tradespeople and construction workers, Injecta Fire Barrier has partnered with the Nottingham
Market insight from Material Information and digital property pack provider, Moverly, suggests that the proper implementation of Material Information across the estate agency sector could reduce the amount of lost or delayed commission due to fall throughs to the tune of £357.4m per year. Moverly looked at the number of fall
BDC 321 : Oct 2024
Costain, the infrastructure solutions company, has appointed Paul Morris as group commercial director, joining its executive board. With 30 years of experience working in people, project and commercial management roles, Paul will be responsible for leading the commercial function and supporting Costain’s growth strategy. Paul joined Costain in 2011 and has held a number of commercial leadership roles across the organisation, most recently as commercial services director. He takes over the role from David Taylor, who has chosen to step down from the executive board after 10 years as Costain’s group commercial director. David will remain in the business, using his extensive experience to provide commercial support for specific projects. Alex Vaughan, CEO at Costain, commented: “Paul has a wealth of commercial experience, more than a decade of which has been spent with Costain, and we’re pleased our strategic planning has allowed us to maintain such strong commercial continuity. Paul will help ensure our business strategy remains firmly aligned with the needs of our customers in the UK’s critical infrastructure sectors.” Paul Morris, group commercial director, added: “The UK faces significant, strategic infrastructure decisions over the next few years and Costain will play a pivotal role. I’m looking forward to helping our customers solve their challenges and fulfil their business plans.” Paul has held the position on an interim basis since October 2023. During that time Costain has seen commercial success with significant contract wins with Northumbrian Water Group, United Utilities and with bp as part of a landmark carbon capture scheme in Teesside. Building, Design & Construction Magazine | The Choice of Industry Professionals
“It was a rare opportunity to celebrate all that is special about this place, to remind people of the rich industrial heritage, of the globally recognised engineering and construction expertise that occurred on both banks of the Clyde” – Tony Kettle, Kettle Collective. From a striking glass façade in Reykjavik designed to capture the essence of the northern lights all-year-round to an Eden-type garden in a low-energy office tower in Bahrain, world-renowned architect Tony Kettle continues to challenge his natural curiosity with projects across the globe. His work on the Dewa Solar Innovation Centre in Dubai, which uses the latest technologies for renewable energy and combines it with Arabic geometry and the Fibonacci sequence, has received architectural acclaim – winning the RSA prize in Scotland and a LEED Platinum award as a benchmark for the Middle East region – and he had a hand in the initial designs of Europe’s tallest building, the Lakhta Centre in St Petersburg. While proud of his success abroad, it’s a project much closer to home though that piqued Tony’s interest in a way others couldn’t, and he jumped at the chance to design the first opening road bridge across the River Clyde – a £117million project led by Renfrewshire Council. Tony said: “It’s fantastic to work closer to home. It means more if you are given a chance to contribute to improving people’s lives close to where you live. “Shipbuilding on the Clyde inspired our design. The visual history of cranes juxtaposed against each other and the way the dry docks are cut into the banks at an angle. The challenge was to capture that spirit of movement in the angles of the new bridge structure, and to accentuate the fact this is a moving structure, not just another static bridge. “The Renfrew Bridge is both a physical and symbolic connection, a celebration of the coming together of two communities that will undoubtedly benefit from having closer ties. It will create a gateway and a destination that should bring more people together to enjoy the riverbank and celebrate the history and rich cultural heritage that they share. “It was a rare opportunity to celebrate all that is special about this place, to remind people of the rich industrial heritage, of the globally recognised engineering and construction expertise that occurred on both banks of the Clyde. What better way to celebrate it than with a new innovative moving structure.” Visiting the site to see the arrival of the final section of the bridge, Tony was delighted to see his designs come off the page and into existence. “It’s fantastic to see the bridge in the flesh and I’m honoured and immensely grateful to the engineers and fabricators for their skills and ingenuity to make it a reality. I have learned over the years to be very patient as projects can be designed quickly but can take so long to materialise, so it’s great to see it arrive on the Clyde and for the project to move closer to completion. “It will clearly improve transport connections between Clydebank, Yoker and Renfrew, but it will also give a focus and raise the profile of the towns as people and businesses are attracted to one of the longest span cable-stayed opening bridges in the world. People will be proud, and it will be a real landmark for the area and the seed for much wider regeneration.” Tony formed the Kettle Collective with friend and managing director Colin Bone 12 years ago and their architectural studio now incorporates around 70 designers, each with their own focus on contextual design, sustainability and low energy solutions – with the recent Queen’s Award for Sustainability confirming their place at the forefront of international sustainable design. With offices now in Edinburgh, London and the Middle East, Tony continues to further an inspiring career that all began with a few sketches at home. Tony said: “My father inspired me to be what I am today. He was an engineer and used to do beautiful hand drawings with a single line and no mistakes. When you’re young, it’s these kinds of things that shape who you want to be, even if you don’t realise it at the time. “We spent a lot of time in Sri Lanka when I was growing up while my father worked on the Victoria Dam, a beautiful double parabolic curved structure, and I learned so much about the importance of climate, culture, and context. “Inspired to be a designer, I studied at Edinburgh Art College, then worked my way through the ranks at RMJM to be International Design Principal. From there, I formed the Kettle Collective with Colin and haven’t looked back since.” Now with more than 35 years of experience in the industry, Tony Kettle is still famed in Scotland for his work to create the Falkirk Wheel, the hugely successful tourist attraction that combines art and engineering to create a moving boat sculpture that thousands have visited since it first opened in 2002. It was while playing with his daughter and her Lego that he felt the creative spark for the project and this led to a design which has been featured as an example of Scottish innovation on the £50 note and within the British passport. “I was making a Lego helicopter for my daughter and realised the gearing could be used to maintain the horizontality of the caissons containing the water and boats. Maybe it’s just me that would think like that while playing with Lego, but sometimes the simplest tools are the best to understand a problem – and my daughter is still waiting to get her Lego back to this day! “It is great to see that my completed design has enticed so many people to visit and enjoy the waterways, and I think the Falkirk Wheel is recognised globally now as part of our inventive culture as a nation. I visit now and then, almost as though visiting an old friend, and
Gillingham Football Club is excited to welcome Hochiki Europe as its new Rainham End Sponsor. The agreement will see the Rainham End at Priestfield Stadium renamed ‘The Rainham End in partnership with Hochiki’ until the end of the 2026/27 season. Hochiki, whose European head office and manufacturing plant was established over 30 years ago in Gillingham, have been world class leaders in the production of commercial fire detection and emergency lighting products since being founded in Tokyo, Japan in 1918. Gillingham was chosen for the site of the European factory because of the link between Will Adams and Japan. Will Adams was a 16th century navigator, born in Gillingham in 1564. He was the first European to establish a trade route between England and Japan. The company is now spread across three sites in the south east region of Medway, after they recently announced a multi-million pound investment into a new 24,000sq ft (about four times the area of a basketball court) shipping and warehousing hub in Chatham. The new facility has the capacity to increase from 480 to 2,450 pallets with picking times reduced by more than half, from 7 minutes per line to 3 minutes per line ensuring a continued and efficient supply of the highest quality production of life safety devices and systems. Managing Director for The Gills, Joe Comper, said “We are excited to welcome Hochiki as The Rainham End’s official partner. We have been working closely with Hochiki over the last year and they have been amazing. It’s very important for the club to have partners that value the community of Kent as much as Hochiki do. I would like to take this opportunity to thank the team there for their fantastic support and I am looking forward to watching this partnership grow.” Shinsuke Kubo, Managing Director from Hochiki said: “Hochiki Europe has had headquarters in Gillingham for 31 years and we’re proud to continue our support of the local community. To celebrate our new partnership, Gills fans will have the chance to win a host of prizes including a VIP experience at the Millwall friendly, training ground visits and match tickets courtesy of Hochiki. Fans should keep an eye on the Gills’ social media channels to find out how to win” This exciting partnership between Hochiki Europe and Gillingham Football Club promises a winning combination for both sides. Fans can look forward to exclusive prize giveaways while the Club gains a committed partner that values the community. Together, Hochiki Europe and Gillingham Football Club are poised to bag a screamer for the Gillingham faithful and solidify Hochiki’s place as a proud resident of the Medway region. Building, Design & Construction Magazine | The Choice of Industry Professionals
Prologis UK, a leading owner, developer and investor of logistics property, has leased DC4 Prologis Park Kettering to Mannol, a leading global lubricant supplier. The 10-year lease will support Mannol’s expanding UK operations. Located in the prime logistics ‘Golden Triangle’, the 154,452 sq. ft. unit will provide the space required for Mannol’s future growth ambitions, with transport links to the M1, M6 and M11, as well as connections to coastal ports and rail hubs, for national and international distribution. Mannol will join household brands including CEVA, Argos and Specsavers at the Park. Jevgenij Lyzko, Chief Executive Officer at Mannol, said: “As we continue to grow, we were in need of a larger unit to cater for our expanding operations. We chose Prologis UK as our trusted partner to provide this. DC4 Kettering offers a large, modern facility and has the benefit of great transport links to our distribution network and an array of welfare amenities for our workforce.” In line with Prologis UK’s sustainability credentials, DC4 underwent a full refurbishment, including both the main warehouse and the office block, bringing the unit to an EPC A rating. The all-electric unit is fitted with warehouse LED lighting, sprinklers and racking allowing for immediate occupation. Prologis Park Kettering also benefits from a rich labour pool with a large percentage of the local population already employed within the logistics sector. Additionally, the site benefits from a public open space, Linear Park, encompassing 90 acres of regenerated land and featuring woodland areas, outdoor gym and network of paths to staff and the local community. Linear Park is owned and managed by Prologis as part of its PARKlife services. Mannol has also been provided with a Prologis Essentials allowance, providing opportunity for future upgrades as and when required. As an integrated product service offering, Prologis Essentials is a turnkey warehouse solution which can offer enhancements in the areas of operations, energy and mobility. Tom Price, Leasing Director at Prologis UK, said: “DC4, and Prologis Park Kettering, was the perfect fit for Mannol’s expanding operations. Originally built in 2007, we upgraded DC4 to meet the same high-quality standards of our current generation buildings in order to match customer expectations. The refurbishment programme also allowed for additional future proofing, for example the option to add in in additional EV charging points as needed. “We look forward to welcoming Mannol and watching the business grow and take advantage of all that the location offers.” ILPP and Cushman and Wakefield acted for Prologis UK. Louch Shacklock acted for Mannol. Building, Design & Construction Magazine | The Choice of Industry Professionals
Winvic Construction Ltd, a leading main contractor that specialises in the design and delivery of private and public sector construction and civil engineering projects has welcomed leaders from new client Aitchison Developments and funders Savills Investment Management to the Bourn Quarter site in Cambridge to mark the steel frame erection with a signing ceremony. Winvic is progressing its first Life Sciences project at pace and the nine facilities, targeting Net Zero Carbon in construction, will be constructed by the end of this year. People from each of the organisations signed a steel member which will be installed in Unit 16, the largest building on the 4.66 Ha site. Bourn Quarter is a best-in-class Life Sciences, Research and Development, production and storage development offering space for a broad spectrum of businesses, and Winvic is delivering nine facilities in six buildings within Phase 2, totalling 144,330 sq ft. Three industrial units – 17,800 sq ft, 16,010 sq ft and 21,400 sq ft – are detached and the remaining six facilities will be constructed in adjoining pairs. The connected buildings range from 6,880 sq ft to 11,630 sq ft. The scheme will achieve a BREEAM Excellent rating and EPC A+ and Winvic is delivering the project in line with the clients’ aspirations to achieve Net Zero Carbon in construction. Each facility comprises a single-storey office space – ranging from 1,870 sq ft to 5,360 sq ft – which Winvic will fit out to CAT A standard. Winvic’s contract also comprises all associated service installations and the construction of on-site roads, yards and car parks. The facilities will be complete by December 2024. However, the scheme will reach practical completion in the Spring when Winvic will have finished the extensive planting scheme; a total of 351 trees alongside shrubs and multiple insect blocks, significantly enhancing Biodiversity on the site. Danny Nelson, Managing Director of Industrial, Distribution and Logistics, said: “We were delighted to welcome partners from Bourn Quarter’s funders and developer, and they were delighted with our construction progress. The start of a steel frame erection programme is always an exciting milestone, and the signing of the steel member is a meaningful way to mark that progress. Entering the Life Sciences sector marks another significant enhancement to Winvic’s project portfolio. “I’d like to thank new client Aitchison Developments for putting their trust in Winvic to deliver Phase 2 of Bourn Quarter, a ‘small-box’ development primed for Life Sciences and Research and Development companies. And also, to the Winvic team for once again bringing their sustainability expertise, passion for quality delivery and commitment to safe but swift delivery.” Harry Aitchison, Development Manager, Aitchison Developments commented: “Following the successful letting of Phase 1 we are delighted to be working with Winvic to deliver Phase 2 at Bourn Quarter to provide much-needed high-quality space to the Cambridge market. It has been great working with Winvic to try and improve on every aspect of the scheme from our Net Zero Carbon aspirations to the quality and finish of the buildings. The speed at which Winvic are attacking the programme is impressive and the team on site have been very considerate to our Phase 1 tenants throughout.” Tom Bird, Director from Savills added: “Following lots of hard work from the team through planning and procurement, its brilliant to see Winvic continuing to push the project forward through the construction stage. The drive and can-do attitude of the Winvic team gives us confidence that works will be completed to allow occupation from Q1 2025. Savills Project Management are delighted to be leading another project on behalf of Aitchison Developments and Savills Investment Management whilst adding more experience to our proven track record within the life sciences/mid tech sector.” For more information on Winvic, the company’s latest project news and job vacancies please visit www.winvic.co.uk. Join Winvic on social media – visit X (formerly Twitter) @WinvicLtd – and LinkedIn. Building, Design & Construction Magazine | The Choice of Industry Professionals
OP has been appointed to design and fit out the new UK headquarters of global electronics leader, Epson. The office fit out and design consultancy will transform more than 30,000 sq ft of space at The Clarendon Works, a Grade A office building on Watford’s Clarendon Road. OP will create a modern and collaborative workplace that aligns with Epson’s brand identity and supports the firm’s evolving hybrid work model. Its design incorporates an informal, timeless palette that complements the building’s industrial backdrop while aligning with Epson’s evolving brand identity. Features include a unique product demo space, which will showcase Epson’s innovative technology and serve as an additional sales asset. Epson will relocate from its current premises in Hemel Hempstead when the 12-week project is complete. The Clarendon Works is a BREEAM Excellent, EPC A-rated building, which offers community spaces, including a lounge and gymnasium, and 12 floors of open plan floor plates. Tom Parsons, sales director at OP, said: “We’re thrilled to partner with Epson on this transformative project. Our design challenges traditional corporate layouts and creates a space that reflects Epson’s forward-thinking ethos. By centralising breakout areas and prioritising collaboration, we’re helping Epson transition from a conventional office to a hybrid setup that puts its people first. “Sustainability has been a constant thread throughout the design process. We’ve worked closely with Epson to ensure that its new headquarters exceeds the company’s sustainability aspirations, capitalising on the building’s excellent green credentials.” OP secured the project through a competitive tender process, based on the strength of its in-depth research, company values and best practice design principles. It also conducted staff engagement sessions to facilitate Epson’s smooth transition to the new environment. OP is working with the building’s developer Regal as part of its ongoing work at The Clarendon Works. Savills is acting as client agent. Building, Design & Construction Magazine | The Choice of Industry Professionals
Northumbria University in Newcastle has chosen to retain Sodexo for its soft and hard FM services and residential living management contract for a further ten years in a new contract with the addition of a new food offer for the University’s largest Trinity Square student accommodation. Sodexo has been managing student accommodation services at Northumbria University since 2014. Initially covering just Trinity Square, a contemporary accommodation block housing up to 1,000 students in double en-suites or shared flats for groups of three-five students. Over the course of the contract the University has added all its four City residences, housing nearly 2,500 students every year. Sodexo is focused on ensuring the student living experience is second-to-none and is committed to ensuring its presence has a positive social impact for the residents, the University, and the local community in which it operates. Services managed by Sodexo in the University’s student accommodation include reception, helpdesk, security, mechanical and electrical maintenance, and cleaning. Sodexo employs 58 people at Northumbria University and uses digital platforms for students to report maintenance issues, recently mobilising a mobile-enabled maintenance system to ensure timely servicing of request within the residences to reduce unexpected breakdowns and inconveniences, minimise costs and extend equipment life. The new contract will see Sodexo introduce a brand-new catering offer at Trinity Square student accommodation serving hot drinks and a grab and go food solution such as paninis and pastries. The team will transform the currently under-utilised space at the accommodation to further enhance the student experience creating a fantastic live learning experience that creates a true home from home atmosphere. Sodexo’s commitment to social impact underpins the strategic business ambitions at Northumbria University and is engrained into every floor cleaned, every maintenance job resolved, and every conversation had with students. Sodexo has built strong relationships with the local community and works with local charities and social enterprises such as Northern Rights and the DFN project, which are focused on helping the long term unemployed and people with learning difficulties get in to work. The Sodexo team at Northumbria has: Supporting students from applicant to alumni is a crucial part of Sodexo’s focus at the University, the team provides vital support to residents at a time which can be quite difficult as they adjust to life away from home where they need to balance studying with financial independence, making new friends and settling into a new setting and city. To provide further support in this area Sodexo has committed to train five mental health first responders across the contract. In 2022 Sodexo introduced Residency Advisors, students who live within the residences join the Sodexo team on a part-time basis to work with the accommodation team to manage any issues that arise quickly and efficiently and offer proactive peer to peer support. Through this programme Sodexo provides employment opportunities for 15 students which helps the long-term employability of the students as a valuable addition to their CVs. Sian Thompson, national operations director, Universities & PFIs, Sodexo UK & Ireland, Sodexo said: “We are proud of our long-standing partnership with Northumbria University. There is a strong cultural fit between our organisations, and we are committed to continually delivering a leading facilities management service alongside the award-winning residency living model, with aligned goals and strategic objectives. This next contractual period brings with it some exciting service developments and we expect to achieve great things by continuing to work in a strategic and trusted partnership.” Erin Peart, executive director of campus services, Northumbria University said: “Sodexo continues to be one of the University’s valuable partners – not only because of the services it delivers and the commitment it has to enhancing the student experience, but in helping us to deliver social impact. We look forward to continuing this partnership with students at the heart of our shared ambitions.” Sodexo’s team at Northumbria University has received numerous awards including the 2023 IWFM award for Excellence in Customer Experience, Contract Manager Tom Martin received the 2022 title of Young Leader of the Year at the PFM Partnership awards and the contact was highly commended in the 2022 Student Accommodation awards for Collaboration. The team was also shortlisted at the 2024 Property Week awards for excellence in social impact. Building, Design & Construction Magazine | The Choice of Industry Professionals
Construction students from EKC Sheppey College in Sheerness got valuable insight into what it’s like to work on a construction site when Jones Homes invited them to its Shurland Park development. The eight students visited the site – where Jones Homes Southern is currently building 171 new properties off Larch End in Minster on Sea – on Friday 14 June. The group, who are studying for their Level 2 qualification in Bricklaying and Construction, were shown different stages of build at the development including the show home, finished houses, piling, brickwork, scaffolding, and plots at the second fix stage of construction. Nicole Fitzpatrick, Head of Building Services at EKC Sheppey College which is part of East Kent Colleges Group, said: “We would like to thank Jones Homes for this opportunity and are looking forward to developing this relationship further in the future. “These links are vital in supporting our learners’ development and, as well as supporting tutor delivery, will allow them an invaluable insight into the latest developments within industry. “Learning from professionals via these links will help support with the transition into their chosen vocational fields and hopefully spur their passion for this industry further.” The students, who were all supplied with hi-vis vests and hard hats to wear during the visit, met Sales and Marketing Manager Sophie Steel, Construction Director Terry Brown, and Site Manager David Yeo. They spoke to the students about a range of topics including health and safety, the importance of communication, hitting targets, quality control, and the process of building a home from start to finish. Terry said: “Pursuing a career in construction is a great choice for young people as there are so many opportunities to learn, develop and progress. So, we were very happy to host the students from Sheppey College and give them a real insight into the work we are doing here and give them an understanding of what the industry is like. “These students are already making great strides by studying for their Level 2 qualifications and I hope that their visit to Shurland Park inspired them even further and has shown them what the possibilities are.” To find out more about Jones Homes’ Shurland Park development, visit jones-homes.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
Fire safety specialist and leading installer of passive fire barriers, Injecta Fire Barrier, have forged a new partnership with the Nottingham Skills Academy to offer work engagement for young people. To help invest in the futures of aspiring tradespeople and construction workers, Injecta Fire Barrier has partnered with the Nottingham Skills Academy to provide work experience and training opportunities for individuals kickstarting their career. Having supported over 8,200 learners in the East Midlands and South Yorkshire with fully-funded courses and training, the Skills Academy is expanding their service with help from Injecta Fire Barrier. “We are delighted to announce our new partnership with the Nottingham Skills Academy! We’re always looking for ways to support the next generation, and by helping provide work placements we hope to give young people of Nottingham the tools they need to succeed” says Shaun. Skills Academy is a training centre run by the Skills People Group that offers high-quality teaching and learning for construction, digital business administration and warehousing. Established in 2008, the Skills People Group is the country’s leading provider of construction-related qualifications and now has seven dedicated training centres, including the Nottingham Skills Academy. Their academies provide a first-class training environment to help young members of the local community to develop their knowledge, skills and behaviours. “Gaining work experience can be a challenge for young people and we’re hopeful our partnership will give eager individuals a practical opportunity which helps boost their employability. As well as helping others, we also plan to utilise their courses to develop our own Injecta Fire Barrier team” adds Shaun. Currently, Skills Academy works with some of the UK’s biggest construction companies and offer a series of courses for bricklaying, joinery, painting, labouring, CSCS card, Skills Bootcamps in construction and much more. Now partnering with Injecta Fire Barrier, the Nottingham Skills Academy will be increasing their support materials with new opportunities for ambitious individuals to learn, develop and prosper in the fire safety industry. “We see that Skill Academy has the location, knowledge and attributes to make a change and we can’t wait to help contribute towards a brighter future for Nottingham residents!” concludes Shaun. Injecta Fire Barrier are the UK’s first independent approved installer of the patented Injectaclad system. With years of experience in passive fire protection, the company can help property managers and building owners seamlessly install cost-effective cavity fire barriers that protect their buildings and occupants. More information about Injecta Fire Barrier can be found at: https://injectafirebarrier.com/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Market insight from Material Information and digital property pack provider, Moverly, suggests that the proper implementation of Material Information across the estate agency sector could reduce the amount of lost or delayed commission due to fall throughs to the tune of £357.4m per year. Moverly looked at the number of fall throughs that take place across the property market on a quarterly basis, as well as the total amount of estate agent fees either lost or delayed as a result of these sellers having to return to square one. According to TwentyCI, 64,865 sales fell through across the UK market during the first quarter of this year alone. With estate agents earning £3,975 on the sale of the average home in the current market*, that’s a total of £257.9m in commission either lost, or at best delayed, until a new buyer is found. The figures from Moverly show that in 2023 alone, almost £1,1bn was lost or delayed in commission due to the number of fall throughs across the UK market. While fall throughs are unfortunately inevitable, there are steps that can be taken to minimise the potential of a sale collapsing. One such step is the proper provision of Material and Upfront Information early in the process. This provides agents, vendors, buyers and conveyancers alike, with better insight to the potential issues posed when purchasing a property and the opportunity to resolve issues earlier. Figures from Moverly show that not only does the provision of Upfront Information allow for transactions to complete up to 70% quicker, but it also reduces the chances of a sale collapsing by a third. If estate agents across the UK were to embrace Material and Upfront Information fully, this could have reduced the fees lost or delayed during the first quarter of 2024 by £85.9m. Over the course of 2023, reducing fall throughs by a third would have also seen agents benefit to the tune of £357.4m in fees that weren’t lost or delayed as a result of transactions collapsing. Gemma Young, Moverly CEO, says: “With the introduction of NTSELAT guidelines, agents now have a concrete framework to work towards with respect to Material Information. This provides them with a firm foundation upon which they can drive sector standards forward, whilst, at the same time, reducing the propensity for transactions to fall through Moverly’s mission is to support agents to deliver Material and Upfront Information with greater ease and without adding to their already substantial workload. In turn, Moverly works to connect the key stakeholders in the property transaction to the vital information which helps other stakeholders to progress towards exchange and completion. In embracing this, agents will not only be able to offer quicker transaction times to their sellers, this in turn will also reduce the amount of commission that is either lost or delayed as a result of fall throughs.” Data tables Building, Design & Construction Magazine | The Choice of Industry Professionals
