Developer U+I has unveiled plans to build £250m-worth of private rental sector housing in Kent and Surrey. U+I has submitted planning applications to develop housing in Ashford, Maidstone, Swanley and Woking – more than 1,000 new rental homes in total. “We have selected these sites very carefully,” said U+I deputy chief executive Richard Upton. “Each one is close to a train station, beautiful parks and located in quality towns where consistent rental and capital growth will be evident and each will remain relatively affordable for the wider population.” In Ashford (below), U+I is planning a development of 200 homes on a six acre site owned by the Homes & Communities Agency opposite Ashford International train station. The proposed development would also have a 120-bed hotel, an Aldi food store, a new brewery and visitor centre for local wine and beer maker, Chapel Down and flexible retail and commercial space. Construction of the project could start in early 2017 depending on planning permission.   The site in Maidstone (below) comprises two phases with planning consent already obtained to develop 192 residential units in the first phase. An application will shortly be submitted for the second phase of the project to develop 300 residential units, the majority of which would be delivered as private rental homes in a 17-storey tower block. Both the Ashford and Maidstone schemes have been designed by Guy Hollaway Architects. In Swanley (above), an application was submitted in July to extend Swanley Square shopping centre, which is owned by U+I. The extension would include 340 residential units, 46,780 sq. ft. of new commercial and retail, restaurants, shops, new office space and a new car park. The Swanley town centre project is designed by HLM Architects. In Woking, U+I has submitted a planning application to redevelop Elizabeth House, a vacant 1980s office building, into 241 new flats, as well as offices, shops and restaurants. Architect is RTKL, a build-to-rent specialist.   Richard Upton said: “Home ownership is no longer the be-all and end-all – increasingly, a new generation is choosing to rent and they want high quality and affordable accommodation to match their lifestyle and aspirations. This generation has high expectations – meeting these expectations and delivering great new homes for rent is a key part of our offer as a business. These 1,000 homes represent the first chapter in our unfolding rental story.”   Further Images This article was published on 28 Sep 2016 (last updated on 28 Sep 2016). Source link

Category: Construction Industry Today | Subscribe to Construction Industry Today Feed Published Thu, Mar 3rd 2016 Contract Drilling Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 – 2023 Posted via Industry Today. Follow us on Twitter @IndustryToday The Global increase in the drilling activities in order to cater the energy requirements of industrial and nonindustrial sectors has direct implications on the global contract drilling market. Rapid growth in population of different countries has further created an additional pressure on governments to supply the life line energy. Requirement of high capital expenditure and technical capabilities for the purpose of maintaining and purchasing the drilling equipments has augmented the market for contract drilling services. The service provider companies carry out all the drilling operations on the behalf of principal company as per the terms of contract. Movement towards the offshore drilling activities that require special expertise to carry out the drilling operations has further given a boost to such companies that are specialized in providing drilling services on a contract basis. Segmentation of the contract drilling market can be done on the basis of service type, contract length, terrain types and geographies. Sometimes the principal companies require only a particular type of service that forms only a part of the drilling process. Depending upon the tenure of the project contract drilling market can be classified into short term and long term contract drilling market. Contract length for such product depends upon the size of the project or the number of wells that are to be drilled. Contract drilling services can be used to serve both the onshore and offshore drilling operations. Onshore contract drilling companies are taking advantage of the investments by principal companies to exploit unconventional shale gas, shale oil and coal bed methane reservoirs. Advancement in drilling technologies has led to a shift of contract drilling companies towards the offshore areas in search of oil and gas reservoirs. Companies are willing to invest in exploring the shallow as well as the untapped deep and ultra deep water areas. Download Research Report Brochure for more info: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=7724 Geographical segmentation of the contract drilling market can be done by identifying the major oil and gas producing countries. Major countries include the United States, Canada and Mexico in North America; Russia and Offshore areas of the United Kingdom and Norway in the North Sea. Middle East and African segment include major oil producers such as Saudi Arabia, Iran, Iraq, Kuwait, Angola Libya and Nigeria. Surge in the development of oil and gas industry in the African continent is expected to be beneficial for the contract drilling companies willing to invest in the African market. The Latin America segment includes countries such as Brazil, Venezuela, Argentina and Colombia. Increased drilling operations in the offshore areas of Brazil coupled with the surge in drilling activities to tap the shale gas reserves of Argentina has the potential to attract the contract drilling companies. Rising energy demands, increase in the onshore and offshore drilling activities, advancement in drilling technologies and the movement towards development of unconventional sources of energy are the major drivers for the contract drilling market. High capital requirement for purchase and maintenance of drilling equipments is the major restraint to the contract drilling market. Untapped hydrocarbon reserves of North African nations can act as the opportunities for the contract drilling market. Some of the key players of the contract drilling market include companies such as Schlumberger Limited, Basic Energy Services, Sidewinder Drilling, Inc., Baker Hughes Incorporated and Halliburton. Full Research Report: http://www.transparencymarketresearch.com/contract-drilling-market.html Contact information Mr. Sudip .STransparency Market ResearchState Tower, 90 State Street,Suite 700,United StatesAlbany12207+91- 8600924083 Source link

Leeds BS announces record H1 results Leeds Building Society has announced this morning that further growth in mortgage lending has boosted its performance for the first half of 2016. The UK’s fifth largest building society has now delivered sustained growth for over five consecutive years and has mortgage balances of £12.2bn, savings balances of £10.6bn and 738,000 members, all higher than at any time in its history. Leeds Building Society Chief Executive Peter Hill said: “I’m pleased to report another strong set of results as we continue to help more people save and have the home they want. We have worked hard to provide security and value in this historically low interest rate environment. As a result, membership numbers and mortgage and savings balances are all at record levels. Mortgage lending We remain focused on helping more borrowers by offering competitive mainstream products, and supporting those who are not well served by the wider market. New residential mortgage lending increased by 33% to £1.93bn (£1.45bn to June 2015), which is significantly above our market share. Our mortgage products continue to be recognised by the industry and we received the ‘Innovation in Personal Finance’ accolade at the 2016 Moneyfacts Awards for our Interest Only product. In the first half of 2016 we helped more than 3,900 First Time Buyers step onto the property ladder, accounting for over £500m of mortgages and 27% of our total lending through initiatives including shared ownership and the Government’s Help to Buy equity scheme. Savings While borrowers have benefited from historic low rates, we recognise it remains challenging for savers. In this difficult market, we worked hard to provide value for savers. We paid an average of 1.77% (1.82% for the same period in 2015) across our savings range, and increased the amount we paid above the rest of the market average to 0.77% (0.53% for the same period in 2015). Savings balances grew in the first half of 2016 by 6% to £10.6bn (£9.2bn to June 2015). The Society also received the award of ‘Best Regular Savings Account Provider’ for the second year running from the independent consumer advice website Savings Champion, and ‘Best Building Society Savings Provider’ at the 2016 Moneyfacts Awards. Financial performance We anticipated that increased competition in the mortgage market, which we started to see in the second half of 2015, would continue and this has resulted in our Net Interest Margin reducing to 1.37% (1.66% June 2015). Strong lending growth and a reduction in impairment losses and provisions charges have helped to deliver an increase in profit of 5% in the first half of 2016 to £58.0m. Continuing wind down of our commercial loan portfolio resulted in a credit of £1.0m being released from provisions, compared to a charge for impairment losses as at June 2015 of £5.5m. Commercial balances now represent just 1.1% (2.5% in June 2015) of total loans and the Society’s residential arrears (1.5% or more of outstanding mortgage balances) continued to reduce, falling to only 1.24% (1.62% in June 2015). As a result, we have been able to increase Common Equity Tier 1 Capital to a record £832m (£746m in June 2015) and the ratio remained strong at 15.4% (15.5% in June 2015), which is in excess of the regulatory minimum. Total assets increased by 10% to £14.9bn (£12.7bn in June 2015) and our Leverage Ratio was 5.3% (5.6% June 2015) compared to the minimum requirement of 3%. Liquidity remained strong as we built funding in anticipation of potential EU Referendum volatility. Our excellent performance and financial strength meant the credit ratings agencies, Moody’s and Fitch, both affirmed our long-term ‘A’ ratings at the end of June and early July respectively. Investing in the future We continue to invest in the Society to support sustainable growth, improve the customer experience and for the long-term benefit of our current and future members. This included creating 140 new roles as we further increase our capacity. We now employ 1,360 colleagues, more than at any time in our history, and engagement has increased to 79%, well above the sector benchmark. It is these talented colleagues who deliver excellent customer service to our members and we achieved a customer satisfaction score of 93%[4]. As a result of this investment, our cost to asset and cost to income ratios increased to 63p (60p in June 2015) per £100 of assets and 43% (34% in June 2015) respectively. However, our focus on efficiency will ensure these ratios remain among the best in the building society sector. Outlook The Society has delivered strong growth during the first six months of 2016, whilst maintaining financial strength. Following the vote to leave the EU, we’ve seen volatility in the financial markets and Bank Base Rate was reduced to only 0.25% yesterday. This is likely to lead to still lower rates for savers and increased competition in the mortgage market. The Society’s financial strength leaves it well-placed to deal with any economic shocks as we continue to deliver our investment programme, further develop our customer service and remain focused on what we do well, which is help people save and have the home they want.” Source link

Outokumpu has commissioned an investment in its bar finishing capabilities for Degerfors Long Products in Sweden. The investment comprises a new pit furnace, straightener, peeler as well as bar stock services. These investments have been installed during spring and will be in operation during June 2017. Outokumpu is now able to offer stainless heavy bar in size range 70 to 300 mm with peeled surface condition. The new peeling line increases the size range of the peeled heavy bar and billet offering as well as enhances the capabilities to serve the customers requiring high surface quality. Outokumpu has invested in stock services for the bar product range to ensure quick deliveries within Europe. The stock service enables lead times of 2 weeks within Europe and even shorter deliveries in Nordic countries. The customers are also able to order smaller batch sizes from stock when needed. Says Olle Källgren, head of Degerfors Long Products, Sweden: “The investment will open up new possibilities to serve seamless tube customers as well as European and Asian based distributors requiring special bar and billet in larger dimensions. Degerfors Long Products has in-depth material knowledge of stainless steel and its end-use applications. We help customers to select right grade for the specific conditions.” Degerfors Long Products is specialized in stainless steel grades for the most demanding applications. The offering contains austenitic, ferritic, duplex and precipitation hardened grades in Outokumpu Forta, Ultra and Therma ranges as well as Prodec range products for superior machinability. The unit has also NORSOK approved duplex grades specially designed for Oil & Gas industry. Outokumpu has a century of experience in creating efficient, long-lasting, and recyclable stainless steels. Our global offering includes quality-critical long products for the buildings and infrastructures. Our Long Products sites are located in the US, the UK, and Sweden, and are known for their high quality products, flexibility, and world-class delivery performance. Read more about Outokumpu Long Products offering at outokumpu.com/longproducts. ​​

Essentia Trading Ltd, the healthcare planning and infrastructure consultancy, has formed a strategic partnership with healthcare planning, equipment and technology experts, MJ Medical, to offer their combined services on healthcare projects in the UK, Middle East and overseas. Under the partnership, Essentia will focus on upstream healthcare planning, headed by Healthcare Planning Director, Tina Nolan. It will also be able to provide programme and project management, cost management and optimisation. MJ Medical, led by Technical Director, Danny Gibson, will support from a detailed design perspective, enhanced by its expertise in equipment and technology strategy, design, specification, cost and procurement. Both sides see significant benefits to clients from the combination of unique skills and expertise, continuity of the team and avoiding duplication of effort. The partnership will deliver a greater degree of design accuracy and economy, more certainty on construction costs and reduced risk. Essentia’s healthcare planning team is one of the largest in the UK. It works with clients all over the world to create the best environments and ensure they are clinically and financially sustainable. Its recent projects include the world-class Guy’s Cancer Centre, South London and Maudsley NHSFT estate strategy and Dublin’s new children’s hospital. John Kelly, Healthcare Planning Director at Essentia Trading Ltd, comments: “We’ve known MJ Medical for a number of years and have great respect for them. It makes great sense for us to come together to offer our joint services under one agreement. We will be approaching each project on a case by case basis, meaning that clients will have a bespoke solution for the commercial and technical approach as well as the structure and service delivery.” MJ Medical provides consultancy services that aim to deliver innovative, effective and adaptable healthcare services and facilities that respond to the changing needs of the community. Established for 30 years, MJ Medical‘s diverse and extensive experience spans more than 250 projects across 75 countries totalling approximately US$80 billion in capital value. Nathaniel Hobbs, Director, adds: “Within a fast-changing global healthcare market, clients are increasingly looking for an integrated service that connects considerations of technology strategy and detailed planning with the early modelling and briefing stages. Essentia and MJ Medical are both leaders in our fields; our skills and service offering overlap, but in a complementary way that delivers a service whose whole is considerably greater than the sum of its parts.” For further information about the partnership, its team and services visit the website or telephone 020 7188 6000.