Pontegadea, the private investment company of Spanish billionaire Amancio Ortega, has made its first move into the UK Build to Rent (BTR) market with the £150 million acquisition of a residential development on London’s Baker Street. The transaction sees Pontegadea acquire 219 Baker Street in the West End from investor
Plans for 200 new council homes at Battersea Power Station have secured planning permission, marking another major step in the transformation of the landmark 42-acre regeneration site in London. The homes will be delivered by Battersea Power Station Development Company in partnership with Wandsworth Council on an undeveloped brownfield plot
Aldi is stepping up investment across its UK property estate with plans to refurbish 25 supermarkets this year as part of a wider £300 million programme of store improvements. The investment will see the discount supermarket group upgrade existing locations across England and Scotland, with work focused on improving the
A workplace landscape with conviction: the PKF Campus by Philipp Architekten brings together work, encounter, landscape and identity. The PKF Campus in Balingen, designed by Philipp Architekten, has been recognised as part of the Best Workspaces Award 2027. The project is therefore among the awarded workplace environments demonstrating how architecture
Glencar has commenced piling works for the West Shell of Pure Data Centres’ (Pure DC) 70MW LON01B2 facility, marking the start of the final major build phase at its £1bn+ Brent Cross campus in North London. The development will extend the campus by more than 23,000 sq. m and, once
Watkin Jones has completed two major Build to Rent (BTR) developments during its 2026 financial year, marking further progress for the residential developer as it continues to deliver large-scale schemes despite challenging market conditions. The completions represent another important milestone for Watkin Jones, which has established a significant presence across
US real estate investor Kennedy Wilson is set to significantly increase its exposure to the UK Build to Rent (BTR) market after being selected as preferred bidder for Notting Hill Genesis’ £750 million Folio rental portfolio. Kennedy Wilson is understood to have entered exclusivity with Notting Hill Genesis (NHG), with
Glencar and Hillwood have marked a major construction milestone at Hillwood Park Luton, with structural steelwork now underway across the 284,575 sq. ft industrial and logistics development. Structural steelwork is now progressing across the 16-acre development, marking the latest major phase of construction at Hillwood Park Luton. The milestone was
Gilbert-Ash has confirmed its £40 million contract to deliver a major refurbishment and restoration of the Royal Institute of British Architects’ landmark headquarters at 66 Portland Place in Westminster. The extensive programme will transform the Grade II* listed building, upgrading its environmental performance, accessibility and public spaces while protecting the
Multi-disciplinary consultancy Pick Everard has developed new guidance to help project teams identify opportunities to retain, reuse and specify materials more effectively. Structured around the RIBA Plan of Work (but equally applicable for infrastructure and other assets), Pick Everard’s new Material Playbook sets out the actions project teams can take
Pontegadea, the private investment company of Spanish billionaire Amancio Ortega, has made its first move into the UK Build to Rent (BTR) market with the £150 million acquisition of a residential development on London’s Baker Street. The transaction sees Pontegadea acquire 219 Baker Street in the West End from investor and developer Ridgeback Group, adding 86 apartments to an already substantial UK property portfolio. The deal, equivalent to approximately €175 million, represents a reported yield of 4%. Ortega is the founder and main shareholder of Inditex, the global fashion group behind Zara and brands including Pull&Bear and Massimo Dutti. While his wealth is closely associated with the international retail sector, Pontegadea has built up a major global property portfolio, with UK real estate holdings now valued at more than £2.7 billion. The Baker Street acquisition is particularly notable from a built environment perspective because of the history of the property itself. The Grade II-listed Art Deco building was originally constructed in 1932 as the headquarters of Abbey National, which later became part of Santander. The building was converted to residential use in 2004 and subsequently upgraded by Ridgeback. Its acquisition provides Pontegadea with an immediate foothold in the professionally managed UK rental market without the development and construction risks associated with delivering a new BTR scheme from the ground up. The deal also extends the investor’s presence across different areas of the UK property market. Its existing London assets include The Post Building on New Oxford Street, while in 2025 Pontegadea acquired an 850,000 sq ft Amazon logistics warehouse near Liverpool for £81 million. The move into BTR comes at a significant time for institutional investment in UK rental housing. BTR transactions reached a record £2.2 billion during the second quarter of 2026, demonstrating continued investor appetite for established, income-producing residential assets despite wider pressures facing development and construction. For the wider property sector, the £150 million Baker Street transaction is another indication of how the UK rental market is attracting international capital traditionally associated with commercial real estate. Pontegadea’s arrival adds another major global investor to the sector and, with an established London residential asset providing its entry point, could signal further interest from the group as the UK BTR market continues to mature. Building, Design & Construction Magazine | The Choice of Industry Professionals
Plans for 200 new council homes at Battersea Power Station have secured planning permission, marking another major step in the transformation of the landmark 42-acre regeneration site in London. The homes will be delivered by Battersea Power Station Development Company in partnership with Wandsworth Council on an undeveloped brownfield plot forming part of Phase 5 of the wider masterplan. All 200 properties will be operated by Wandsworth Council and made available at social rent levels through its Homes for Wandsworth programme. The development will include a mix of homes, including larger properties designed to meet the needs of families. Construction is expected to begin in 2027, with completion targeted for 2029. Designed by Peckham-based Dowen Farmer Architects, the scheme will combine new housing with landscaped communal areas and ground-floor commercial and community uses. Residents will have access to communal gardens as well as a substantial south-facing roof garden, bringing additional green space into the development. Funding will be provided through Wandsworth Council’s Housing Revenue Account, supported by grant funding from the Greater London Authority. A multidisciplinary professional team has been assembled to progress the project, with Buro Happold appointed as structural engineer, MKP as M&E consultant and Cast Consultancy as cost consultant. The approval comes as attention increasingly turns towards the remaining phases of the Battersea Power Station regeneration. Around 16 acres of brownfield land are still to be developed, offering the potential for up to 3.2 million sq ft of additional residential, commercial, cultural and leisure space. Studio Egret West has been appointed to evolve the original masterplan created by Rafael Viñoly more than 15 years ago, as the development team considers how the remaining half of the regeneration site should respond to changing demands across London’s property market. Battersea Power Station Development Company chief executive James Saunders has also confirmed that a Section 73 planning application covering the future phases is due to be submitted later this month. The latest approval adds an important affordable housing element to one of London’s most prominent regeneration projects. The redevelopment of the former power station and its surrounding land has already created a major new mixed-use destination, combining homes, offices, retail, leisure and public realm around the restored Grade II* listed landmark. With 200 council homes now approved and further phases being reconsidered, Battersea Power Station is entering another significant period of construction and development as its long-term regeneration continues. Building, Design & Construction Magazine | The Choice of Industry Professionals
Aldi is stepping up investment across its UK property estate with plans to refurbish 25 supermarkets this year as part of a wider £300 million programme of store improvements. The investment will see the discount supermarket group upgrade existing locations across England and Scotland, with work focused on improving the customer experience while introducing more efficient and sustainable building technologies. Depending on the individual store, improvements will include the refurbishment and expansion of key departments such as bakery, health and beauty and fresh food. The programme is designed to create additional space and make stores easier for customers to navigate. Sustainability will also play a role in the refurbishment programme. Selected locations are set to receive energy-efficient fridge doors and refrigeration systems using natural refrigerants, supporting efforts to reduce energy consumption and improve the environmental performance of Aldi’s existing estate. For the retail construction and fit-out sector, the programme represents a significant pipeline of refurbishment activity across a geographically diverse portfolio. Upgrading operational supermarkets can require carefully phased construction, M&E, refrigeration, shopfitting and finishing works to minimise disruption while delivering improvements to existing buildings. Jonathan Neale, managing director of national real estate at Aldi UK, said: “We’re continuing to invest in our existing stores because we know how important the in-store experience is to customers. “These upgrades will create more space, improve key areas of our stores and make them easier to shop. It’s an important part of how we’re investing in the communities we serve.” The £300 million commitment highlights the continuing importance of existing-store investment alongside new supermarket development. For major retailers with substantial property portfolios, refurbishment provides an opportunity to modernise customer-facing areas while improving energy efficiency and adapting stores to changing operational requirements. With 25 locations earmarked for work this year, Aldi’s programme will bring investment to stores from Aberdeen and Stirling to Manchester, Liverpool, London and Bedford. Aldi stores set for refurbishment • Arndale, Manchester• Barnsley Road, Doncaster• Batley Road, Wakefield• Brackley Court, Blaby• Bridgnorth Road, Wollaston• Brooks Road, Lewes• Chapel Street, Belper• Cornhill Shopping Arcade, Aberdeen• Crown Road, Enfield• Falkirk Road, Linlithgow• Grooms Alley, Wellington• Holyhead Road, Telford• Holloway Road, Archway• Knollside Close, Sunderland• London Road, Blackwater• Moreland Avenue, Billingham• Old Beck Road, Harrogate• Printers Place, Paisley• Ringtail Retail Park, Burscough• Rockingham Road, Corby• Sandbach Road, Congleton• Springbank Road, Stirling• St. John Centre, Liverpool• Stratford Road, Hall Green• Westville Road, Bedford Building, Design & Construction Magazine | The Choice of Industry Professionals
A workplace landscape with conviction: the PKF Campus by Philipp Architekten brings together work, encounter, landscape and identity. The PKF Campus in Balingen, designed by Philipp Architekten, has been recognised as part of the Best Workspaces Award 2027. The project is therefore among the awarded workplace environments demonstrating how architecture can give spatial form to corporate culture, human interaction and long-term identification. Since 2020, Callwey Verlag has honoured outstanding workplace environments and office buildings from around the world through the Best Workspaces Award. The award recognises projects that define office architecture not solely through efficiency, amenities or floor area. Its focus is on places that enable collaboration, foster a sense of belonging and create an atmosphere where people genuinely enjoy spending time. A Workplace Landscape Rather Than an Office Building The PKF Campus emerged from the expansion of an established site within the urban fabric of Balingen. Rather than responding with a single dominant volume, the architecture takes the form of an ensemble of four distinct buildings. Each has its own address and character, while remaining grounded in a human scale. At its centre, a park-like garden links the existing buildings with the new additions. It is not simply residual open space, but the social and spatial heart of the campus: a place between work, exchange and landscape. Beauty as a Long-Term Strategy The PKF Campus is guided by a simple conviction: beauty is not an added extra. It is what allows buildings to endure beyond their original function. A place that moves people is used, cared for and carried forward. Architecture is then not replaced as soon as needs change, but can grow with them. For PKF, this has resulted in a campus that does more than provide space for work: it makes the company’s culture visible and tangible. The recognition at the Best Workspaces Award 2027 honours this ambition—to create workplace environments that are not interchangeable, but bring together identity, atmosphere and lasting value. Building, Design & Construction Magazine | The Choice of Industry Professionals
Glencar has commenced piling works for the West Shell of Pure Data Centres’ (Pure DC) 70MW LON01B2 facility, marking the start of the final major build phase at its £1bn+ Brent Cross campus in North London. The development will extend the campus by more than 23,000 sq. m and, once complete, bring total capacity to 90MW. Completion of B2 is scheduled for Q2 2029. Glencar’sscope includes delivery of the West Cold Shell, incorporating piling and foundations, underground services and associated works, structural frame and connections to the adjacent East Cold Shell, concrete and slab works, stair cores, building envelope and roofing. The project isbeing delivered within a live operational data centre campus, requiring close coordination between Glencar, Pure DC and the wider project team as multiple construction and fit-out activities progress simultaneously across the development. LON01 is being developed as a next-generation, closed-loop, liquid-cooled data centre capable of supporting high-density AI inference and cloud workloads. Designed for long-term resilience, the campus incorporates sustainability measures including recycledsteel and low-carbon components. Following completion of B2, the site will also be home to one of the world’s largest living walls. More than 750,000 plants will wrap around the building, helping to reduce noise and air pollution while creating habitat for insects and birds adjacent to the Brent Reservoir Site of Special Scientific Interest (SSSI). Representatives from Pure DC and Glencar joined the project team on site to mark commencement of piling and the transition into the structural phase of the programme. Dan Priest, Campus Delivery Director at Pure DC, said: “Piling commencement represents an important milestone in the continued development of our Brent Cross campus. LON01B2 is amajor part of our investment in London’s digital infrastructure, and it isencouraging toseethe final stageof construction now progressing onsite. Welookforward to continuing towork closely with Glencar and the wider project team asthe development movesforward.” Roy Jones, Managing Director of London and The South at Glencar, said: “Piling getting underway marks the transition into the structural phase of the programme. Delivering a project of this scale within a live and highly constrained data centre campus requires detailed planning, closecollaboration and careful coordination across every stage. “Our teamshave worked closely with Pure DCand the wider project teamtoprepare for this phase. LON01B2 further demonstrates Glencar’s capability todeliver complex, mission-critical infrastructure within live operational environments, and we look forward tobuilding on this momentum asthestructure begins to take shape.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Watkin Jones has completed two major Build to Rent (BTR) developments during its 2026 financial year, marking further progress for the residential developer as it continues to deliver large-scale schemes despite challenging market conditions. The completions represent another important milestone for Watkin Jones, which has established a significant presence across the UK’s purpose-built rental and student accommodation sectors. Among the developer’s major BTR projects is Loftlines, a significant residential development that forms part of the wider regeneration of Belfast’s Titanic Quarter. The project demonstrates the scale and ambition of the purpose-built rental schemes now being delivered in major UK cities, combining new homes with the amenity-led approach increasingly associated with modern BTR development. Watkin Jones has also progressed its Tai Afon BTR development in Cardiff, adding further purpose-built rental accommodation to its portfolio and strengthening the company’s presence within the residential market. The latest completions arrive against a demanding backdrop for the UK development sector. Higher construction costs, financing pressures and changing investment conditions have all influenced the pace at which new residential projects can be funded and brought forward. Despite these challenges, BTR continues to represent an important area of activity within the UK housing market, supported by demand for professionally managed rental accommodation and continued institutional interest in residential property. For the wider construction and built environment industry, the delivery of major BTR developments also creates opportunities across a substantial supply chain. Large schemes require expertise spanning main contracting and structural construction through to façades, M&E services, fit-out, landscaping and public realm, before moving into long-term property and facilities management following completion. Watkin Jones’ latest progress therefore provides another indication of the continued evolution of the UK BTR sector, particularly in regional cities where large residential developments are increasingly becoming an important component of wider regeneration strategies. With two major BTR schemes reaching completion during FY26, Watkin Jones continues to demonstrate its ability to take substantial residential developments through construction and into operation while navigating a more challenging development and investment environment. Building, Design & Construction Magazine | The Choice of Industry Professionals
US real estate investor Kennedy Wilson is set to significantly increase its exposure to the UK Build to Rent (BTR) market after being selected as preferred bidder for Notting Hill Genesis’ £750 million Folio rental portfolio. Kennedy Wilson is understood to have entered exclusivity with Notting Hill Genesis (NHG), with due diligence now set to progress on the proposed acquisition. The portfolio comprises 2,079 rental homes across 15 developments in London and Chelmsford and is currently around 98% let. The transaction would represent another major institutional investment into the UK’s operational BTR and private rented housing market. Around 85% of the Folio homes are located in London, with schemes spread across boroughs including Newham, Greenwich, Southwark, Ealing, Croydon, Barnet and Hammersmith and Fulham. Among the portfolio’s largest assets is Royal Wharf Estate in Newham, where Folio owns 338 homes, while City Park West in Chelmsford accounts for a further 317 properties. Approximately nine in ten homes across the portfolio are one and two-bedroom apartments, while 98% have an EPC rating of C or above. The sale process, known as Project Vanguard, has been run for NHG by UK professional services adviser Deloitte. Kennedy Wilson emerged ahead of rival interest from Hyde Group and a partnership between investor Adira and European asset manager Hayfin. For Kennedy Wilson, the acquisition would build on an already expanding presence within the UK rental housing sector. Its suburban BTR partnership with Canada Pension Plan Investment Board, established in 2024, has grown to around 2,000 homes across 23 sites. The scale of the Folio transaction also demonstrates the continuing attraction of established rental portfolios to large institutional investors seeking immediate exposure to income-producing UK residential assets. From a wider built environment perspective, investment of this scale also creates long-term requirements around property management, maintenance, refurbishment, building services and improving the energy performance of residential assets. If completed, the £750 million acquisition would position Kennedy Wilson as an increasingly significant player in UK BTR while adding further momentum to institutional investment across the country’s professionally managed rental sector. Building, Design & Construction Magazine | The Choice of Industry Professionals
Glencar and Hillwood have marked a major construction milestone at Hillwood Park Luton, with structural steelwork now underway across the 284,575 sq. ft industrial and logistics development. Structural steelwork is now progressing across the 16-acre development, marking the latest major phase of construction at Hillwood Park Luton. The milestone was marked with a steel signing on site, bringing together representatives from Hillwood, Glencar and the wider project team, including KAM Project Consultants, UMC Architects and Burrows Graham. Following the completion of enabling works, earthworks, groundworks and essential site infrastructure, structural steelwork is now well underway, with the frames beginning to define the scale and form of the development. Located within the established Sundon Park Industrial Estate, Hillwood Park Luton will deliver eight Grade A industrial and logistics units totalling 284,575 sq ft, with individual units ranging from 14,000 to 80,000 sq ft. The development is being delivered speculatively to provide flexible accommodation for manufacturing, distribution and e-commerce occupiers and forms an important part of Hillwood’s expanding UK development pipeline. The scheme is targeting BREEAM Excellent and EPC A ratings, with sustainability and wellbeing measures incorporated throughout the development to support operational efficiency and long-term occupier requirements. Hillwood Park Luton represents the third consecutive project between Hillwood and Glencar, following the successful delivery of the 335,000 sq ft Crewe 335 development and the 101,860 sq ft Martland Park scheme in Wigan. Peter Goodman, Managing Director at Glencar, said: “The start of structural steelwork marks a significant stage in the delivery of Hillwood Park Luton, with the scale and form of the development now becoming increasingly visible across the site. “A significant amount of work has gone into reaching this stage, from our early involvement during pre-construction through to the groundworks and infrastructure delivered over recent months. The focus for our project team is now on maintaining that momentum as we progress the superstructure and subsequent phases of construction. “As our third scheme with Hillwood, the project also demonstrates the strength of the working relationship between our teams and the benefits that continuity and early collaboration can bring to delivery.” Greg Dalton, Development Director at Hillwood, said: “With steelwork now beginning to rise across Hillwood Park Luton, the scale of the development is becoming increasingly apparent. This milestone reflects the progress being made by Glencar and the wider project team. The development will bring forward eight high-quality, sustainable industrial and logistics units in an established and well-connected location, adding further Grade A accommodation to our growing UK portfolio. We look forward to seeing the scheme continue to take shape as we move towards completion.” Hillwood Park Luton is situated northwest of Luton, with access to Junction 11A of the M1 and connections to the A5 and A6. London Luton Airport is less than seven miles from the development, with Leagrave railway station approximately 1.2 miles away. Practical completion remains targeted for Q1 2027. Building, Design & Construction Magazine | The Choice of Industry Professionals
Gilbert-Ash has confirmed its £40 million contract to deliver a major refurbishment and restoration of the Royal Institute of British Architects’ landmark headquarters at 66 Portland Place in Westminster. The extensive programme will transform the Grade II* listed building, upgrading its environmental performance, accessibility and public spaces while protecting the architectural character of one of RIBA’s most important assets. Construction and restoration work is now being undertaken by Gilbert-Ash, with completion scheduled for September 2027. Built in the 1930s, 66 Portland Place requires significant modernisation to its fabric and building services. The project will see ageing services stripped out and replaced, alongside improvements to the external envelope designed to increase energy efficiency and address water ingress. Sustainability sits at the heart of the programme, with the Portland Place redevelopment set to act as a pilot project for the Net Zero Carbon Building Standard. The approach will provide an important real-world test of how ambitious carbon and energy objectives can be incorporated into the sensitive refurbishment of a major listed building. Accessibility will also be substantially improved throughout the headquarters. A new fully accessible entrance is planned on Weymouth Street, while the internal layout and public-facing areas will be remodelled to create a more welcoming and inclusive destination. The café and RIBA shop will be given greater prominence, while new exhibition and events facilities will form part of RIBA’s wider House of Architecture programme. The project brings together a specialist professional team with extensive experience across architecture, heritage, engineering and complex refurbishment. Purcell is architect for the delivery phase, progressing the original concept developed by Benedetti Architects. Gardiner & Theobald is acting as project manager, with Jackson Coles as quantity surveyor. Eckersley O’Callaghan is structural engineer and Harley Haddow is responsible for building services engineering. For Gilbert-Ash, the £40 million contract represents a high-profile addition to its portfolio of complex heritage and cultural projects. More widely, the transformation of 66 Portland Place demonstrates the growing role that retrofit can play in extending the life of significant existing buildings. Rather than replacing an important piece of London’s architectural heritage, the programme aims to retain and restore it while introducing the services, environmental performance and accessibility expected of a modern public building. When completed in September 2027, the renewed headquarters will provide RIBA with a more sustainable and accessible home while preserving the architectural significance of its historic Portland Place address. Building, Design & Construction Magazine | The Choice of Industry Professionals
Multi-disciplinary consultancy Pick Everard has developed new guidance to help project teams identify opportunities to retain, reuse and specify materials more effectively. Structured around the RIBA Plan of Work (but equally applicable for infrastructure and other assets), Pick Everard’s new Material Playbook sets out the actions project teams can take at each stage to reduce waste, lower embodied carbon and keep materials in use for longer – all with the goal of driving whole life value. Tim Danson, director of sustainability and energy at Pick Everard, said: “One of the biggest challenges for sustainable material management is that historically, responsibility fell between different disciplines, teams and stages of a project. “This Playbook provides a practical, step-by-step framework to help designers, engineers and specifiers make better and more collaborative decisions, make those decisions earlier in the project lifecycle, and thereby afford the greatest opportunity to reduce a project’s environmental footprint. “Too often, the default response is to specify new materials because that’s what we’ve always done. We want clients and project teams to deeply and robustly challenge that approach by first asking whether materials, technologies and other physical assets can be retained, reused or replaced with a lower-impact alternative that delivers the same performance. Sanitaryware, furniture, flooring, doors and glazing are examples that represent just the tip of the potential iceberg.” The Playbook identifies practical, simple steps that can be taken right from the outset of a project being commissioned, from auditing existing buildings and understanding the value of materials already in place, through to assessing reuse opportunities and selecting lower-impact products. Supporting the guidance is Pick Everard’s in-house Materials Catalogue, a centralised library of sustainable materials and products that provides access to performance, cost, quantity and embodied carbon information. The Catalogue is used as part of planning and design optioneering workshops, enabling project teams to compare material choices and identify solutions that meet technical, commercial and environmental requirements. The release of the Material Playbook comes after Pick Everard played a key role in the development of new guidance from the Institute of Sustainability and Environmental Professionals (ISEP). ISEP’s guidance, Material Pathway Auditing in the Built Environment, calls on the industry to act now to implement best practice and fulfil its role in a circular and net zero economy. Globally, over 100 billion tonnes of resources are consumed each year. And the proportion of that volume that is subject to some level of circular economy action is – despite our understanding of the impacts – getting worse. The carbon footprint of the global construction industry is therefore expected to double by 2050 if short-term approaches to building design and project delivery continue; this is a model that is also expected to play out in the UK, if we do not see rapid and systemic change. Tim added: “The scale of the challenge means we need to rethink how we approach materials across the built environment. “There is a perception that using reused materials is expensive or difficult, but the reality is that shifts in culture, better data, established reuse marketplaces, and new approaches to procurement have made many solutions accessible and viable today. “By making responsible material decisions now, we can reduce carbon, create efficiencies and deliver projects that leave a positive and lasting legacy. The question every project team should be asking now is not just ‘what materials do we need?’ but ‘what materials already exist and how can we make the best use of them over the full life of our schemes?’” To download the Material Playbook, visit https://www.pickeverard.co.uk/events/material-playbook Building, Design & Construction Magazine | The Choice of Industry Professionals