Merchant City Regeneration Site Continues to Take Shape with Second Major Completion The £300 million transformation of Candleriggs Square in Glasgow’s Merchant City is continuing apace following the completion of the second major building on the site – a 346-homes build-to-rent scheme, forward funded by Legal & General (L&G). Main
Energy and water efficiency company Cenergist has been appointed by procurement framework provider Pagabo as a supplier to its £1.6bn Decarbonisation Solutions Framework. The framework covers a four-year period and supports public sector bodies and local authorities throughout the UK procure suppliers for retrofit decarbonisation works across their building stock.
Showcasing a legacy dating back to April 1924, Walter Lilly’s excellent reputation in recent decades stems from its commitment to delivering exclusive homes, iconic landmark and heritage buildings, and state-of-the-art science and higher educational facilities. This impressive milestone marks not only the company’s continued success, but a hard- fought journey
The Association for Project Safety (APS) has announced the launch of its Principal Designer Building Regulations (PDBR) Register. This significant initiative is designed to enable practitioners to formally demonstrate their competence in fulfilling the newly established duty-holder role under the Amended Building Regulations England, in line with PAS 8671. With
New market insight from up-front information platform, Home Sale Pack, reveals that the conveyancing process takes so long that the average home mover could fly to the moon and back more than 25 times in the time they’ll be waiting for conveyancing to finish. As a result, 370,000 movers are now
Asda is launching a £50m store upgrade programme designed to enhance the shopping experience for customers in its larger supermarkets and superstores. The programme, which commences at the Long Eaton store in Nottingham, will extend across 170 stores in total and is expected to complete by the end of November.
Willmott Dixon Interiors is to deliver the £4.4 million refurbishment of two historic buildings in Sutton, South London, as part of exciting plans to bring the town’s high street back to life. The leading fit-out and refurbishment specialist contractor will transform 137-145 High Street in Sutton town centre, on behalf
Rapidly-expanding Merseyside M&E contractor Mech NW has selected Vanaways as its vehicle provider for its ongoing growth journey. The Wirral-based mechanical and electrical company is expecting to double last year’s £1.5m turnover this year and in the meantime has converted its fleet of vehicles to 100 per cent electric. The
The Supply Chain Sustainability School, a leading online platform dedicated to promoting sustainable practices within supply chains, is pleased to announce the appointment of Andrew Spencer to its Board of Directors. Andrew Spencer brings a wealth of experience and expertise to the School’s mission of advancing sustainability within the built
The latest research by Zero Deposit, the tenancy deposit alternative, has revealed that while home owners are upping sticks and moving more often, the time spent in rental properties by PRS tenants has increased by 12% over the last decade, highlighting the important role landlords play in today’s property market.
Merchant City Regeneration Site Continues to Take Shape with Second Major Completion The £300 million transformation of Candleriggs Square in Glasgow’s Merchant City is continuing apace following the completion of the second major building on the site – a 346-homes build-to-rent scheme, forward funded by Legal & General (L&G). Main contractor Graham Construction has delivered the practical completion of the £81.5 million scheme, allowing L&G to progress with the internal fit-out of the building before the first residents move in later this summer. Developed by a joint venture between Drum Property Group and Stamford Investments, the 3.6-acre Candleriggs Square site is regarded by many as the last and most important piece of Glasgow’s Merchant City regeneration jigsaw. The square welcomed the opening of Scotland’s largest hotel by room numbers, the 494-room Social Hub Glasgow, in April this year. Designed to meet the increasing demand for high-quality city centre rental accommodation in Scotland, the 325,000 sq. ft L&G scheme provides 346 apartments together with a range of retail and commercial units at ground floor level creating an attractive and accessible public realm. An entrance lobby opens onto Glasgow’s Trongate, providing direct access to a communal landscaped courtyard at the first-floor level, while a range of roof terraces provide spectacular views across the city. The building’s completion was marked by the release of drone footage showing how the finished homes form a spectacular cornerstone of the Candleriggs Square regeneration. Graeme Bone, Group Managing Director of Drum Property Group, said: “Candleriggs Square is now starting to come alive, fulfilling the the development vision we outlined when we first took ownership of the site in 2019. With the completion of the L&G apartments and the opening of The Social Hub Glasgow, we are seeing this vital part of the city centre, which had lain dormant for more than 20 years, take shape in spectacular fashion. “Candleriggs Square has always been at the centre of Glasgow’s commercial and social development, and this completion will be a huge boost to the area and to local businesses. We can now positively look forward to bringing back to life a very special area which has always been at the centre of Glasgow’s commercial and social development.” Dan Batterton, Head of Residential at Legal & General Investment, added: “We are delighted to reach completion of at Candleriggs Square, bringing a new community to the heart of the Merchant City. Helping to meet Glasgow’s increasing demand for high-quality rental housing, the site offers a well-designed, flexible living space integrated within the broader regeneration of the city centre. We look forward to welcoming our first residents in the coming months. Having launched our Build to Rent strategy in 2016, we have since deployed over £3 billion of institutional capital into the sector and expanded our portfolio to 24 schemes across 13 cities – we’ve been on a rapid trajectory of growth and look forward to continuing with this as precedent.” The 3.6-acre Candleriggs Square site – bound by Wilson Street, Hutcheson Street, Candleriggs and Trongate – was originally home to Glasgow’s flourishing fruit and vegetable market. For most of the 20th century, the square played host to a department store before remaining unoccupied and derelict for more than two decades, following the closure of the last operator there in 1999. Drum and Stamford’s joint venture launched the ambitious £300m plan to transform Candleriggs Square when they first bought the site in March 2019. Plans include a high-quality mixed-use scheme combining homes, offices, hotels, restaurants and local amenities, together with landscaped open spaces and accessible walkways, with a new public square at its heart. For more information on Candleriggs Square, visit: www.candleriggs-square.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Energy and water efficiency company Cenergist has been appointed by procurement framework provider Pagabo as a supplier to its £1.6bn Decarbonisation Solutions Framework. The framework covers a four-year period and supports public sector bodies and local authorities throughout the UK procure suppliers for retrofit decarbonisation works across their building stock. Hull City Council is serving as the contracting authority for the framework. This also includes a healthcare-specific framework which has Great Ormond Street Hospital as the contracting authority. Works will include the installation of specialist heating, cooling and ventilation systems and renewable energy sources, fabric upgrades, installation of energy saving lighting, and replacement of inefficient glazing. Cenergist supports local authorities, social housing providers, commercial clients and water companies to achieve their net zero and decarbonisation goals. Dan Ludgate, group development director at Cenergist, commented: “The public sector faces a significant challenge to improve the energy performance of its building stock as part of vital decarbonisation and futureproofing strategies. “Pagabo is renowned for helping organisations access trusted suppliers in this challenging space. To be appointed to the framework is a testament to our continued innovation and track record in delivering projects on time and within budget. “We look forward to working with the framework’s users to further drive their pursuit of net zero.” Cenergist was also recently appointed to Fusion21’s £820m Heating, Renewables and Electrical Framework and was placed as a top provider for domestic ground source heat pump installations. The company is also delivering for Kensington and Chelsea Council the Notting Dale Heat Network which is the council’s flagship zero carbon district heating network benefiting over 750 homes. As well as the UK, Cenergist also operates in Holland, Spain and India. For more information on Cenergist, visit www.cenergist.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Showcasing a legacy dating back to April 1924, Walter Lilly’s excellent reputation in recent decades stems from its commitment to delivering exclusive homes, iconic landmark and heritage buildings, and state-of-the-art science and higher educational facilities. This impressive milestone marks not only the company’s continued success, but a hard- fought journey of growth and unwavering dedication. Since its establishment the company has evolved from a modest family business founded by tradesman, Walter Gent Lilly, who capitalised upon his good fortune after winning the freehold of a London builder’s yard in a game of cards, to a prominent leader within the specialist construction market. To this day, the family business spirit at Walter Lilly lives on, having continued trading under this name since it was acquired by Y.J. Lovell Group in 1955 and who later became Renew Holdings plc. The company’s portfolio has since expanded to include some of London’s most prestigious buildings including Café Royal, Southwark Cathedral, Palace of Westminster, 1 Cornwall Terrace – Britain’s most expensive terraced property at the time – and 100 Park Lane, one of the few surviving aristocratic townhouses in London. More recently, the company delivered its largest project to date, the £84m Laboratory of Medical Sciences for the Medical Research Council, which has garnered industry wide recognition including a victory in the Integration and Collaborative Working category at the Constructing Excellence SECBE Awards. As the focus across the industry shifts towards the UK Government’s 2025 net zero target, Walter Lilly is working alongside their clients in providing sustainable project delivery. Examples include the reservicing of a number of Grade I London Palaces to assist in achieving carbon neutral estates including a BREEAM Excellent rating. Walter Lilly’s reputation for delivering the finest quality projects has resulted in remaining profitable year on year despite challenging and fluctuating market conditions. With only nine Managing Directors in its 100-year history, and the average length of staff service being 10 years, the Walter Lilly name continues to strengthen across the industry. Managing Director Chris Butler, said “We are extremely grateful to our loyal clients, dedicated employees, and trusted supply chain partners who have been integral to our success throughout this remarkable journey. This anniversary represents not only a century of hard work, determination, and continuous improvement, but also the immense potential that awaits us as we look to the future.” Visit the dedicated centenary website for more details of the company’s rich and expanding history including book and documentary – 100.walterlilly.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals
The Association for Project Safety (APS) has announced the launch of its Principal Designer Building Regulations (PDBR) Register. This significant initiative is designed to enable practitioners to formally demonstrate their competence in fulfilling the newly established duty-holder role under the Amended Building Regulations England, in line with PAS 8671. With the introduction of the PDBR Register, APS is setting a new benchmark for professional standards within the industry. The register will serve as a definitive resource for identifying qualified Principal Designers, ensuring that they meet the rigorous standards required to uphold the safety, compliance, and integrity of construction projects. Key Benefits of the APS PDBR Register: Demonstrated Competence: Practitioners listed on the PDBR Register have undergone stringent assessment processes, confirming their capability to perform the Principal Designer role as mandated by the updated Building Regulations. Client Assurance: By employing professionals from the APS PDBR Register, clients can confidently demonstrate adherence to their legal obligations, ensuring that they are in compliance with the amended regulations. Enhanced Safety and Compliance: The register supports the overarching goal of the amended Building Regulations and PAS 8671, which is to enhance safety and compliance within the construction sector, ultimately contributing to the welfare of the public and the quality of the built environment. The establishment of the PDBR Register underscores APS’s commitment to advancing professional standards and safeguarding public interests. As the regulatory landscape evolves, the association remains dedicated to providing robust frameworks and support systems that empower industry professionals to excel in their roles. Mark Snelling, APS President said: “The launch of the Principal Designer Building Regulations Register is a pivotal step towards reinforcing the competence and accountability of professionals within our industry. It not only provides a reliable means for practitioners to validate their skills but also offers clients peace of mind in meeting their statutory duties.” The APS PDBR Register is now open for applications, providing an essential tool for both practitioners and clients. For more information on how to become listed or to find a qualified Principal Designer, please visit the APS website at www.aps.org.uk. About the Association for Project Safety (APS): The Association for Project Safety [APS] is the professional body dedicated to eliminating deaths, reducing injury, and tackling ill-health associated with the built environment. APS aims to improve, and promote excellence in, professional practice in design and construction health and safety risk management, helping everyone manage risk and implement building regulations effectively and proportionately. The association contributes to the national debate on building and infrastructure safety, regulation, and legislation, providing training, education and support and member networking opportunities. APS works with other bodies and partners to improve – through good design and throughout the life-cycle of projects and buildings – health and safety for everyone involved in construction and use. Building, Design & Construction Magazine | The Choice of Industry Professionals
New market insight from up-front information platform, Home Sale Pack, reveals that the conveyancing process takes so long that the average home mover could fly to the moon and back more than 25 times in the time they’ll be waiting for conveyancing to finish. As a result, 370,000 movers are now set to waste their summers stuck in a state of conveyancing limbo. Home Sale Pack analysed how long the conveyancing process currently takes in the UK*, and how many movers are now about to enter the conveyancing journey*. The research then goes on to analyse what other things movers could instead be doing with the time they’re spending waiting for conveyancing to finish. How long does conveyancing take? Conveyancing is the legal side of buying and selling a home with the ultimate aim of first reaching the exchange of contracts, and then completion of sale. The process takes a long time, currently averaging 154 days, or 22 weeks. And while the process is led by a conveyancing solicitor, it requires regular input from buyers and sellers who need to be available to provide information, sign documents, and help push their sale along. This means that, for those 154 days, movers cannot afford to be absent or out of contact for any length of time because this can lead to significant delays on an already lengthy journey. Therefore, anybody who is entering the conveyancing process right now is looking at an entire summer spent in a state of conveyancing limbo, unable to go on holiday in fear that it will cause delays. 370,000 home sellers stuck in limbo this summer Home Sale Pack estimates that this is the scenario faced by almost 371,000 movers this summer, based on the fact that there are currently an estimated 370,725 properties on the market that are Sold Subject To Contract (SSTC). While some of these may complete sooner, rather than later, this figure is only likely to climb as market activity continues to build momentum following a spring surge. What else can you do with 154 days? So with 154 days of nothing to do but wait, what else could movers be doing with their time if the conveyancing process wasn’t so painfully drawn-out? In 154 days, you could fly from London to Sydney 168 times. You could take one-and-a-half around the world cruises, drive around the world almost 7.5 times, or walk the length of Britain – from Land’s End to John o’ Groats – nearly twice. You could also take 11 fortnight-long summer holidays, or fly to the moon and back – a round trip that takes approximately six days – almost 26 times. Ruth Beeton, Co-Founder of Home Sale Pack, says: “It’s absolutely inexcusable that in this day and age the conveyancing process takes 22 weeks. There is no good reason for this. If the process was dealt with the efficiency that modern technology now enables, the whole process can take as little as 24 hours. In other words, a seller can accept an offer on Monday and complete the sale before going to bed on Tuesday. So yes, 22 weeks is inexcusable. Instead of wasting your summer in conveyancing limbo, too scared to even go on holiday in fear of causing a delay in the process, make sure you work with an agent who utilises upfront information packs to speed up your sale. That way you can get the contracts signed and the sale completed quickly, leaving you free to enjoy the summer with absolute freedom and peace of mind.” Data tables and sources Full data tables and sources can be viewed online, here Building, Design & Construction Magazine | The Choice of Industry Professionals
Asda is launching a £50m store upgrade programme designed to enhance the shopping experience for customers in its larger supermarkets and superstores. The programme, which commences at the Long Eaton store in Nottingham, will extend across 170 stores in total and is expected to complete by the end of November. Asda announced that 50 of its larger stores will receive major upgrades, including the introduction of new in-store services and features. This will encompass brand-new George departments in select stores, as well as new foyers, seasonal aisles, food-to-go services, counters, and improved flooring and lighting. The remaining stores will undergo “refreshed exterior and interior decoration” to align with Asda’s recent brand identity launch, which includes an updated logo, typography, and colour palette. These stores will also benefit from new trolley bays, updated signage, improved toilet facilities, and exterior landscaping work. Over the coming months, upgrades will be carried out in Asda stores in Coventry, Altrincham, Dundee, and Charlton. The work will take place over a five-week period, with stores remaining open and “minimal disruption expected,” according to the retailer. Ian Brackenbury, Asda’s Senior Director of Construction and Implementation, commented: “We are always looking at ways in which we can improve the overall experience for our customers, and this programme is one of the many ways we are actively doing that. Starting with our supermarkets and superstores, this significant investment allows us to upgrade our stores by launching new and exciting services, whilst making significant improvements to the existing components of our established stores. This programme marks another exciting milestone moment for us on our journey and underpins our continued commitment to ensuring Asda is set up for long-term success.” The supermarket’s move to upgrade larger stores builds upon the significant investment made during its first quarter to convert all 470 convenience stores acquired from EG Group and the Co-op to Asda Express. This expansion has given Asda a total estate of more than 1,000 UK stores for the first time in its 59-year history. Since acquiring Asda in June 2021, the shareholders have invested more than £3.5bn to transform the business into a diversified retail group with a significant presence in the high-growth convenience and food service markets. Building, Design & Construction Magazine | The Choice of Industry Professionals
Willmott Dixon Interiors is to deliver the £4.4 million refurbishment of two historic buildings in Sutton, South London, as part of exciting plans to bring the town’s high street back to life. The leading fit-out and refurbishment specialist contractor will transform 137-145 High Street in Sutton town centre, on behalf of London Borough of Sutton. Willmott Dixon Interiors will protect the historic features of both four-storey buildings, while creating 20,000 sq ft of modern retail and business space. Upper floors will provide large, open plan floor spaces, while the basement and ground floor will be refurbished as separate commercial units. New M&E arrangements will also be installed. Formerly occupied by Topshop and Vision Express, the heritage buildings form part of a broader strategy to revitalise Sutton town centre, which is being led by London Borough of Sutton. The project was tendered via Procurement Hub and is part-funded by the government’s Future High Streets Fund, through which the Council secured £11.35 million to transform the town centre. Willmott Dixon Interiors has committed to investing in the local community as part of its delivery of the project. It is partnering with The South London Careers Hub and Construction Industry Training Board to promote career opportunities within the sector, with specific initiatives made available to students, women and care leavers. Simon Wilson, director at Willmott Dixon Interiors, said: “We are looking forward to supporting Sutton Council’s efforts to breathe new life into the high street. Our team has vast experience in transforming underused buildings for the benefit of local people and economies. This important refurbishment will not only deliver commercial spaces fit for the 21st century but has the potential to attract new occupiers that will encourage wider town centre regeneration too.” Carolyn Dwyer, strategic director for development, growth and regeneration at the London Borough of Sutton, said: “We’re excited about the progress being made to renovate this much-loved site. By protecting the buildings’ historic features and creating a space for new businesses, this will help to guarantee a bright future for our town centre and bring new exciting opportunities for everyone living in our borough.” Courtney Cole, client relationship manager at Procurement Hub, said: “The London Borough of Sutton has demonstrated its commendable efforts in revitalising their local high street by refurbishing the former TopShop and Vision Express stores, which emphasises their commitment to enhancing the vibrancy of the community, creating a dynamic high street that will attract increased footfall. The collaboration between Procurement Hub and Willmott Dixon Interiors has been instrumental in creating a harmonious dynamic from a procurement perspective, which will facilitate the smooth execution of the project.” Willmott Dixon Interiors has gained a reputation for the successful delivery of multi million pound town centre refurbishment projects. The contractor worked with Enfield Council to complete the CAT B fit out of flexible office and meeting space at Edmonton Library, and handed over a new children and family hub at Thomas Hardy House in Enfield, which opened last year. It has also recently completed the £18.8 million redevelopment of two vacant retail warehouse assets in Oxford to deliver Inventa, the first commercial science scheme in the city’s central science district. For more information on the regeneration of Sutton High Street, please visit: https://suttontowncentre.sutton.gov.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Rapidly-expanding Merseyside M&E contractor Mech NW has selected Vanaways as its vehicle provider for its ongoing growth journey. The Wirral-based mechanical and electrical company is expecting to double last year’s £1.5m turnover this year and in the meantime has converted its fleet of vehicles to 100 per cent electric. The latest additions are a brand new Maxus T90 EV pickup truck and two Renault Kangoo L1 E-Tech vans. Each has been supplied on a new lease hire arrangement which managing director Chris Hannon expects to save expenditure on both acquisition and running costs of the vehicles. The savings follow advice from Hannah Pearson, the regional business development manager for Vanaways in the North West. “We were spending £400 a week on diesel,” said Mr Hannon, “and now it’s about £150 per week for charging, at around £7 or £8 per charge at home overnight. Over the course of the year that’s a significant saving, and the install costs for the chargers are paid off quite quickly. “Combined with the savings on the costs of acquiring the vehicles – the truck alone was not far off half the price of what a diesel one would be – we’re really grateful to Hannah for the advice. “These savings are going to help us reinvest in the growth of the business over the next few years, starting with the introduction of our new electrical division.” Based in Pioneer House in the Wirral, Mech NW employs 25 staff and was set up by Mr Hannon four years ago. The company provides renewables, mechanical, plumbing and electrical services to numerous nationwide construction contractors and some tier 1 M&E contractors, mainly on installations in new multi-occupancy properties like care homes, student accommodation, hotels and apartment blocks. “There’s a lot happening in the North West and we’re looking forward to meeting the demand for our services,” said Mr Hannon. “Having a good van supplier will be a great feature of our journey going forward, and the electrification of the fleet is important given the attention our clients pay to the carbon footprint of their operations and their supply chain.” Vanaways is itself undergoing spectacular current growth, having moved into new offices in Ham Green near the M5 at Bristol early last year. Company turnover has risen dramatically in 2023, while staff numbers have risen to 72 and the business is on track to deliver sales on more than 6,000 vehicles in 2024. Working with a vast network of suppliers across the UK, the company offers free delivery with a digitalised sales process which enables quick fulfilment of the customer’s fleet needs. Ms Pearson said: “It’s great to be able to bring our full range of deals and suppliers to companies like Mech NW so we can genuinely offer them the solution that works best for them. “There are some amazing fleet opportunities out there for companies which are able to think outside the box, and we enjoy helping open up those avenues. “Whether it’s the cost benefits of electric vehicles over diesel, or various finance packages which we can bring to the table, we get a real buzz out of partnering with customers who are looking to grow. “Like any growing trades business, Chris and the team at Mech NW rely heavily on their vehicles so it’s a pleasure to be here for them on that journey.” Building, Design & Construction Magazine | The Choice of Industry Professionals
The Supply Chain Sustainability School, a leading online platform dedicated to promoting sustainable practices within supply chains, is pleased to announce the appointment of Andrew Spencer to its Board of Directors. Andrew Spencer brings a wealth of experience and expertise to the School’s mission of advancing sustainability within the built environment through collaboration and knowledge sharing. As the Group Supply Chain & Procurement Director at Galliford Try, a prominent UK construction group and key Partner of the School, Spencer operates at the forefront of the industry, overseeing procurement and supply chain professionals across the organisation and shaping strategic approaches to supply chain management. With over 25 years of experience and a distinguished Fellow of the Chartered Institute of Procurement & Supply (FCIPS), Spencer has led high-profile projects and collaborations with major UK clients, including HS2, National Highways, Crossrail, and National Grid, among others. His leadership has been recognised through multiple awards for his innovative approach to supply chain management. Reflecting on his appointment, Andrew commented, “I am honoured to join the Board of the Supply Chain Sustainability School. Its dedication to promoting sustainable practices resonates strongly with my professional values and how we operate within Galliford Try. I’m eager to apply my experience and network to further the School’s mission of driving positive change within the industry.” The Supply Chain Sustainability School empowers professionals across the built environment sector with the knowledge and tools necessary to build resilient and environmentally responsible supply chains. Andrew Spencer’s appointment to the Board of Directors underscores the School’s dedication to harnessing industry expertise to advance sustainability practices. “We are delighted to welcome Andrew to our Board of Directors.” said Hilary Hurrey, Head of the Supply Chain Sustainability School “His extensive experience and leadership in procurement and supply chain management will be invaluable as we continue to drive forward our mission of promoting sustainability and collaboration within the built environment.” For more information about the Supply Chain Sustainability School, explore the website here Building, Design & Construction Magazine | The Choice of Industry Professionals
The latest research by Zero Deposit, the tenancy deposit alternative, has revealed that while home owners are upping sticks and moving more often, the time spent in rental properties by PRS tenants has increased by 12% over the last decade, highlighting the important role landlords play in today’s property market. Zero Deposit analysed the latest figures from Gov UK English Housing Survey looking at the number of years spent in a property for each segment of the market and how these lifestyle trends have changed over the years. The analysis shows that when it comes to home owners, we’re moving more, spending an average of 9.2 years in a property (mortgage buyers). This is the second lowest amount of time spent in the last 10 years with the exception of the 2020-21 pandemic year (8.7) and some way below the average of 9.9 years seen over the last decade. What’s more, it marks a 13.9% reduction versus a decade ago, with homeowners remaining in their properties for 1.5 fewer years today versus 2012-13. However, when it comes to tenants in the private rental sector the opposite trend has emerged over the last 10 years. The average PRS tenant currently spends 4.3 years in their rental home. While this has reduced slightly on an annual basis, down from 4.4 years, it sits 12.1% higher than a decade ago when tenants rented for an average of 3.8 years. It also sits higher than the average of 4.1 years seen over the last decade as a whole, highlighting the importance of the private rental sector when it comes to providing long-term accommodation for those who haven’t made the transition to home ownership. Sam Reynolds, CEO of Zero Deposit commented: “Over the last ten years, tenants have grown increasingly reliant on the private rental sector due to the high cost of home ownership and we’ve also seen renting as a lifestyle choice result in tenants staying put for longer. It’s also fair to say that, with renting itself becoming more expensive, many tenants would rather stay put once they’ve secured a rental property, rather than foot the costs of moving while their original deposit is still being held by their previous letting agent. While the build to rent sector has looked to provide a solution to the requirement for longer term tenancies, it’s PRS landlords who are vital to the sector and are still shouldering the majority of the weight when it comes to the provision of these properties. With the Renters Reform Bill also set to provide further security to tenants with respect to tenancy lengths and eviction powers, it’s likely that the time spent in the same rental property will continue to increase over the coming years. This highlights just how vitally important landlords are when it comes to the rental market echo system and why we must encourage investment into the sector, not deter it. Data tables and sources Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals
