New market analysis by peer-to-peer real estate investment platform, easyMoney, reveals that while the British housing market is likely to remain somewhat muted in 2024 with respect to house price growth, there are a number of local areas where prices are expected to climb with gusto, with 10 areas of
The first rail seating handrails are set to be installed at Everton Stadium As the seat installations continue at pace, with fast-approaching 40,000 now in situ, the first delivery of the handrails have arrived on site at Bramley-Moore Dock. Everton Stadium will feature rail seating throughout the entire lower tier
Construction work is underway at HarperCrewe’s new development of two, three and four-bedroom homes coming soon to Higham Ferrers, Northamptonshire. The collection of new homes, which is being developed in partnership with the Duchy of Lancaster, is being built off Spire Road and is set to be launched later this
Leading property management agent Rendall & Rittner has strengthened its new client service offering, appointing Amaly Hind as New Business and Mobilisation Manager, expanding its team and capacity. With 15 years of experience working in property management, Amaly will support Rendall & Rittner as it continues to expand its growing
Local contractor, Hobson and Porter have been appointed to restore and preserve the last remaining WW2 civilian ruin in the UK, National Picture Theatre on Beverley Road. Thanks to funding from Hull City Council and The National Lottery Heritage Fund, the façade will be restored to its former period style,
J3 Advisory, a prominent latent defects insurance and structured property finance advisory firm, was recently instructed by Dominus to source and place insurance for their latest development in Holborn that is situated within close proximity of London universities including LSE, Kings College London and Queen Mary University of London. 61-65
Manchester Airports Group (MAG) raised £300m in the UK capital markets yesterday, through a new 18-year bond. The Group – which owns Manchester, London Stansted and East Midlands Airports – secured the bond at a competitive rate of 5.75%. It was supported by a number of UK and international institutional
Investment into existing and new and branches drives further growth M.K.M Building Supplies Limited, the UK’s largest independent builders’ merchant, is pleased to announce full year results for the period ended 30 September 2023. Highlights: Kate Tinsley, CEO of MKM Building Supplies, said: “2023 was another solid year for the
Marshalls has launched Modal X™, a lower-cost, lower-carbon alternative to granite paving, offering high durability, design flexibility and straightforward installation. Building on the company’s popular Modal collection, which launched in 2020, the new Modal X features eight colourways, smooth and textured finishes, fifteen plan sizes and five depths, including three
Agreement with BBVS leaves SCS only joint HS2 venture without union access agreement An agreement to allow trade union access to the HS2 Old Oak Common construction site has been signed yesterday (Tuesday 23 April) between joint venture company Balfour Beatty, Vinca, SYSTRA (BBVS) and Unite. The agreement secures the
New market analysis by peer-to-peer real estate investment platform, easyMoney, reveals that while the British housing market is likely to remain somewhat muted in 2024 with respect to house price growth, there are a number of local areas where prices are expected to climb with gusto, with 10 areas of the nation on track for growth of more than 14% by the end of 2024. easyMoney analysed the recent performance of the British housing market based on the latest available Land Registry data*, calculating the average monthly rate of growth seen since interest rates were held at 5.25% in September of last year. easyMoney then used this average monthly change to forecast how the market could perform over the remainder of the year, with homebuyers yet to see a reduction in interest rates materialise this year. National picture The analysis shows that since the base rate was held at 5.25% for the first time in September 2023, the average house price across Britain has declined at an average rate of -0.3% per month. If this trend continues through to the end of the year, the average house price in Britain could fall by -2.6%, or -£7,501, from £283,428 today to £275,927 in December 2024. Just two regions forecast for positive growth A regional analysis reveals that only two regions of Britain are expected to see positive price growth by December. In the North West, the past six months has seen average monthly price growth of +0.4%. If this continues through to the end of the year, prices will grow by +4.3%reaching a regional average price of £330,593. Meanwhile, the North East has seen prices grow by a monthly average of +0.2% over the last six months. If this continues through to December 2024, prices will increase by +2.4% to reach an average of £164,235. Prices in all other regions are predicted to fall, with the West Midlands (-7.8%), London (-6.8%), and Yorkshire & Humber (-6.3%) experiencing the biggest drops. These forecasts from easyMoney mirror the wider industry consensus that the British housing market will remain somewhat subdued in 2024. 10 local authorities forecast for growth of 14%+ However, further analysis by easyMoney at local authority level* has revealed that some of Britain’s local markets could be destined to buck the national trend, with 10 locations forecast for growth in excess of +14%. Over the past six months, house prices in Derbyshire’s Amber Valley district have increased by 2.4% per month, putting the area on track for growth of +26.5% by the end of the year. Darlington has seen an average monthly rate of growth of 2.1% since interest rates were held, suggesting house prices in the area could climb by a further +23.7% by the end of this year. Also set for +14% price growth or more are Torfaen (+18.8%), West Devon (+16.6%), Babergh (+15.7%), Rossendale (+14.8%), North West Leicestershire (+14.8%), Greenwich (+14.5%), Hackney (+14.2%), and Chorley (+14%). The Analysis by easyMoney also shows that a further 102 local authorities could see positive house price movement in 2024. Jason Ferrando, CEO of easyMoney says: “After such consistent upward growth, followed by a period of stagnation, it looks to be a far more settled year for the housing market, with property values expected to remain largely flat in 2024. “But as is so often the case, you can’t judge a market by its topline statistics. Instead you have to dive down into the local market data to discover that price performance in certain parts of Britain could be far from flat as we move through the year. “For anyone who is looking to invest in property this year, it’s useful to know which parts of the country are bucking the national trend. Although it can be far less time consuming to opt for an investment vehicle where market experts have already done the hard work in identifying these up and coming investment hotspots.” Data tables and sources Full data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals
The first rail seating handrails are set to be installed at Everton Stadium As the seat installations continue at pace, with fast-approaching 40,000 now in situ, the first delivery of the handrails have arrived on site at Bramley-Moore Dock. Everton Stadium will feature rail seating throughout the entire lower tier of the raking south stand for home fans, and also in the lower section of the away end in the north east corner. And initial installations are set to commence imminently in the south stand. Elsewhere within the bowl, all of the ‘P’ handrails have been installed on access stairs, while most of the glass balustrading is in place at the vomitory entrances. Work also continues to install ducting around the pitch surrounds, for the critical infrastructure of undersoil heating, below-ground drainage, irrigation pipes and cables for broadcasters. Work has started on the barrel roof cladding at the south end of the east stand, while the intricately-shaped pieces have been fitted at the northern end, to provide clean edgings. The top-level roof coverings are almost complete on the west stand, and the 172m lengths of top-sheet coverings are set to be rolled out on the expansive south stand, from a specially-adapted shipping container. With the entire site now energised, and all mains infrastructure services are now connected, work is picking up apace inside, where suspended ceilings are being fitted and all catering and concession area equipment installed. The sweeping Western Terrace, facing the River Mersey, is shaping up well, with concrete works now finished, waterproof membranes laid and, at the southern end, drainage layers being excavated in preparation for hard landscaping. Setts and paving along the Mersey river wall add another level of precise detail to what will become a superb vantage point for supporters. Meanwhile, in the fan plaza, more trees have been planted and the third pedestrian gate has been lowered into the gap in the boundary wall that formerly served as the main site entrance for vehicles. All three of the steel gates are now in position, and will be skilfully reintegrated into the wall using existing brickwork. Skilled craftsmen form Vetter, a specialist stone contactor and part of the Laing O’Rourke group of companies, continue to painstakingly pave the 30,000m sq fan plaza that will serve as the spacious entrance to the stadium footprint. And with the former access road that cut through the plaza now redundant, foundations are currently being laid for the installation of historic railway lines, before the two sections of paving are expertly joined up. Building, Design & Construction Magazine | The Choice of Industry Professionals
Construction work is underway at HarperCrewe’s new development of two, three and four-bedroom homes coming soon to Higham Ferrers, Northamptonshire. The collection of new homes, which is being developed in partnership with the Duchy of Lancaster, is being built off Spire Road and is set to be launched later this year. Built with energy efficiency in mind, HarperCrewe’s latest site is designed to appeal to buyers on all rungs of the housing ladder – from first-time buyers, through to downsizers and growing families looking for their dream home. Sarah Boyce, Sales and Marketing Director for HarperCrewe, said: “Higham Ferrers is an idyllic location for many homebuyers, and with good reason. With a selection of charming local pubs, boutique and independent shops, quaint coffee shops and many historic buildings around the Market Square and College Street, it’s a wonderful place to live. “Not only that but it has great access to the A6, taking people to Wellingborough, Northampton and beyond. In fact, the train line from Wellingborough can take people into London in only 45 minutes – making the development ideal for commuters. “Buying a new home, rather than choosing an older property, means you can view, reserve and cherry-pick your preferred interior finishes straight from your smartphone or tablet, ensuring that your new home is tailor-made for your own tastes and needs. “Not only that but new homes are generally much more energy efficient than older homes. In fact, buying new can mean saving thousands on energy and household bills each year, which can mean the financial difference to many families between being able to decorate and furnish their new home, go on a fantastic holiday or just put some money aside for a rainy day. “We’re very much looking forward to releasing more details about the new homes coming soon to Higham Ferrers, so urge people to register their interest now to find out more information as soon as it’s available.” To find out more and to register interest to be the first to find out more about HarperCrewe’s new development in Higham Ferrers as soon as it’s released, visit harpercrewe.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Leading property management agent Rendall & Rittner has strengthened its new client service offering, appointing Amaly Hind as New Business and Mobilisation Manager, expanding its team and capacity. With 15 years of experience working in property management, Amaly will support Rendall & Rittner as it continues to expand its growing portfolio. Having started her career at Rendall & Rittner in 2009, Amaly helped establish Rendall & Rittner’s North division, before expanding her knowledge at other firms across the Greater Manchester area. Working for a high-end residential retirement developer, Amaly was responsible for overseeing the company’s portfolio in the Midlands and North, developing an interest in the mobilisation of new schemes. In 2020, Amaly returned to Rendall & Rittner, where she has been managing significant changes to health and safety processes in line with the evolving Building Safety Act legislation. As New Business and Mobilisation Manager, Amaly is responsible for overseeing the acquisition and onboarding of new clients, before handing them over to Rendall & Rittner’s property teams for ongoing management. Amaly’s previous experience in mobilisations, and more recently in understanding new requirements under the Building Safety Act, will allow her to deliver a smooth experience for new clients and developments. Amaly said: “Through my role as New Business and Mobilisation Manager, I am looking forward to applying my existing knowledge of property management in new ways. Over the past 15 years, I have gained an in-depth knowledge of a range of different elements that affect the ongoing management of developments and am keen to use this to ensure that our onboarding and handover processes are as smooth and comprehensive as possible.” Richard Daver, Group CEO at Rendall & Rittner comments: “Through her previous roles, Amaly has repeatedly proven her ability to deliver exceptional results and her experience across the industry will make her a key asset in expanding the capabilities of our New Business and Mobilisation team. Introducing new clients to everything we can offer at Rendall & Rittner, Amaly will be important in helping us grow our business across the UK, whilst also continuing to deliver an unrivalled residential property management service.” For further information please visit: www.rendallandrittner.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
Local contractor, Hobson and Porter have been appointed to restore and preserve the last remaining WW2 civilian ruin in the UK, National Picture Theatre on Beverley Road. Thanks to funding from Hull City Council and The National Lottery Heritage Fund, the façade will be restored to its former period style, including its iconic windows and signage. Structural elements, including the two large concrete beams, which saved the lives of the 150 people inside the theatre on the night it was bombed, will also be preserved. Set to become a flexible space for community events and education, it will also become a place of reflection for the 1,200 Hull civilians that died during WW2. Hobson and Porter have delivered other heritage projects within the city and work on this historical site will get underway in the coming weeks. Gillian Osgerby, Programme Director at Hull City Council, said: “It is great to reach this key milestone in restoring this iconic site and tell its remarkable story. It’s a reminder of how civilians on the home front were affected by the Blitz. “After London, Hull was the UK’s most bombed city during World War 2 and thanks to National Lottery players, we can now remember and recognise the sacrifice that was made.” The former National Picture Theatre was designed by architects Runton and Barry for the De-Luxe Theatre Company and was constructed in 1914. The building was badly damaged during a Luftwaffe air raid on 18 March 1941, although none of the 150 people inside the cinema at the time were killed or seriously injured. The former National Picture Theatre gained Grade II listed status in 2007 due to its significance as a rare surviving bomb-damaged building from the Blitz of the Second World War. Air raids on Hull went on longer than on any other British city and, out of Hull’s 91,660 houses, only 5,945 survived the air raids undamaged. Remedial work to stabilise the building took place in 2020 and now the major works are scheduled to begin in the coming weeks. It is expected to be complete in the autumn. Building, Design & Construction Magazine | The Choice of Industry Professionals
J3 Advisory, a prominent latent defects insurance and structured property finance advisory firm, was recently instructed by Dominus to source and place insurance for their latest development in Holborn that is situated within close proximity of London universities including LSE, Kings College London and Queen Mary University of London. 61-65 Holborn Viaduct, a student accommodation development designed by Stiff + Trevillion Architects and Jonathan Cook Landscape Architects is set to address the pressing need for student housing in Central London. Nestled beside the historic Holborn Viaduct and involving complex tunnelling systems, the project was incredibly challenging to insure due to its intricate design. J3 senior advisor, Matthew Blackhall recognised early on that traditional insurance approaches which often rely on finalised designs, would cause delays. He was able to negotiate arrangements with a provider that allowed for technical audits on site for initial sign off purposes before the insurance placement to ensure the development was being inspected by the insurer. Industry-leading engineering consultants, Bureau Veritas were engaged on behalf of the LDI provider, Build-Zone for the inspection process – This ensured uninterrupted construction progress, effectively mitigating risks and preserving valuable time. Developers that take a long-term position in the PBSA space are increasingly looking to LDI as a means to not only protect against structural defects but also safeguard their income streams and enhance asset marketability – the standout feature being the inclusion of loss of rent coverage, offering income protection for up to three years from practical completion. This provision provides invaluable peace of mind, ensuring continuity of revenue even in the event of unforeseen setbacks. Upon receiving relevant sign off from the technical team and the insurer, the resulting latent defects insurance policy sourced by J3 advisory was A-rated, on full sum insured basis and included loss-of-rent. Matthew Blackhall commented: “It was a pleasure working with Richard and the team at Dominus on a project that promises to leave a lasting imprint on London’s cityscape. Their proactive approach in securing latent defects insurance adds another layer of confidence to the development’s longevity and success, reflecting their commitment to excellence and foresight in mitigating potential risks.” Lee Saywack, Executive Director at Dominus commented: “Our plans for the scheme in Holborn are now progressing at pace, and this appointment means we are a step closer to delivering much-needed new student accommodation. I am grateful for J3’s support to help us realise our vision of creating a thriving new neighbourhood in the heart of the City.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Manchester Airports Group (MAG) raised £300m in the UK capital markets yesterday, through a new 18-year bond. The Group – which owns Manchester, London Stansted and East Midlands Airports – secured the bond at a competitive rate of 5.75%. It was supported by a number of UK and international institutional investors. Proceeds from the bond will support MAG’s significant investment plans – including the completion of the Manchester Airport Transformation Programme by 2025 and plans to extend the terminal building at London Stansted Airport. MAG mandated Barclays, CIBC, HSBC, NAB and NatWest as book runners on the new bond. Linklaters acted for MAG, with Allen & Overy acting for the bookrunners. This transaction is MAG’s second bond issuance in the last 12 months, having raised £360m from the market in September 2023. MAG Chief Financial Officer, Jan Bramall said: “We are pleased that our investment partners continue to show confidence in MAG and our plans to invest in our airports. “By supporting this bond, we can focus on delivering the infrastructure transformation which will improve the airport experience for our passengers and allow us to achieve our long-term growth targets.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Investment into existing and new and branches drives further growth M.K.M Building Supplies Limited, the UK’s largest independent builders’ merchant, is pleased to announce full year results for the period ended 30 September 2023. Highlights: Kate Tinsley, CEO of MKM Building Supplies, said: “2023 was another solid year for the business. We saw MKM continue to outperform, against what was a more challenging market than recent prior years. This performance was driven by our strategic focus on new branch openings, investing in existing branches, ensuring product availability, a motivated team and our continued commitment to local communities and service.While we have grown into a national business, we have always kept to our roots, which is to work with local Branch Directors, meeting local needs and customer service at the individual branch level. We do this by incentivising local management and staff and by giving each branch significant autonomy. The result is that we have stronger relationships with our customer base, ensuring their repeat business and, through reputation, grow our market share.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Marshalls has launched Modal X™, a lower-cost, lower-carbon alternative to granite paving, offering high durability, design flexibility and straightforward installation. Building on the company’s popular Modal collection, which launched in 2020, the new Modal X features eight colourways, smooth and textured finishes, fifteen plan sizes and five depths, including three complementary sett sizes with a textured riven surface. Additionally, Marshalls’ market-leading Priora® paving is incorporated into the range, providing permeable options. The breadth of the Modal X range gives landscapers and their customers flexibility when developing mixed-use spaces including pedestrianised zones and high traffic areas. Different paving formats, such as modern linear units, help customers delineate spaces. At the same time, smaller elements can be used for finer detailing and edging, creating character and unique design elements. Likewise, Modal X offers a broad palette of warm, neutral and complementary colours, including a captivating pink granite, silver grey and light cream granite. This enables landscapers to create a contemporary finish that is aesthetically pleasing and hard-wearing. Modal X is crafted using Marshalls’ MaxiMix® Technology. This innovative technology produces an inseparable bonded layer, ensuring colour permanence and robust protection against the elements. Further, the patented surface technology creates a superior blend of aggregates and binders, resulting in an exceptionally durable, resilient paver, which is highly resistant to UV fading. Modal X is also ideal for budget-focused projects as it can be laid on a flexible, unbound bed requiring lower-priced materials, reduced installation time, and in turn, the labour costs, versus granite options. “While budgets are tightening, customers still want clever, creative and beautiful spaces,” said Tom Foster, Trading Director at Marshalls. “Our new Modal X range gives landscapers true design flexibility with hundreds of options and combinations, plus ease of installation and help towardreduced labour costs.” Modal X is the first new product range to be produced by the company’s innovative dual block plant in St Ives, Cambridge, which brings significant advantages in sustainability, lead times and bespoke ordering. “Our new dual block site delivers nearly double the output of a single plant, which is hugely beneficial to customers,” said Simon Magleave, Group Manufacturing Director at Marshalls. “As well as allowing us to cater for large-scale projects quickly, we can use the plant for smaller, morebespoke runs of made-to-order Modal X options with just-in-time delivery. “The dual block plant is partly powered by renewable energy sources, including solar array, plus a new state-of-the-art curing system which reduces carbon impact and speeds up drying times. We’ve also decreased the volume of water and cement used in the production.” For more details on Modal X, visit marshalls.co.uk/modal-x Building, Design & Construction Magazine | The Choice of Industry Professionals
Agreement with BBVS leaves SCS only joint HS2 venture without union access agreement An agreement to allow trade union access to the HS2 Old Oak Common construction site has been signed yesterday (Tuesday 23 April) between joint venture company Balfour Beatty, Vinca, SYSTRA (BBVS) and Unite. The agreement secures the right of Unite representatives to visit the project’s inductions. It also allows Unite representatives access to rest facilities to talk to all the workers on the site during their breaks, in order to deal with any concerns or worries they may have. It was signed after a ‘relentless’ two-year campaign by Unite, which included regular demonstrations, leafletting workers and resolving their concerns. Unite general secretary Sharon Graham said: “This agreement is the culmination of two years of relentless campaigning by Unite to gain formal access to the Old Oak Common site. Construction workers can now speak directly to Unite about all employment and safety concerns. “Unite is now in a stronger position to help defend and improve jobs, pay and conditions for HS2 workers at Old Oak Common.” Unite now has site access agreements with four out of five of the joint venture companies working on HS2: BBVS, Align, EKFB and Mace/Dragados. The only joint venture company to remain without a site access agreement is Skanska, Costain, Strabag (SCS), which is responsible for the project’s London tunnels. Unite regional officer Declan Murphy said: “Agreeing trade union site access should be a matter of course for all construction contractors. But the successful campaign to achieve the agreement with BBVS shows that Unite will overcome any obstacle put in its way to ensure workers are not denied union access. Unite will now be turning its complete attention to securing a site access agreement for SCS workers.” Building, Design & Construction Magazine | The Choice of Industry Professionals