Sir Robert McAlpine has secured a £133 million construction contract to deliver a major refurbishment of the Bank of England’s historic headquarters in the City of London, marking a significant investment in the modernisation of one of the UK’s most important public institutions. The contractor has been selected ahead of
David Wilson Homes has secured planning approval for a new 120-home residential development between Hatfield and Welham Green in Hertfordshire, with the scheme set to deliver more than 20% biodiversity net gain alongside new affordable housing, extensive green spaces and significant investment in local infrastructure. Welwyn Hatfield Borough Council has
Bidvest Noonan, one of the UK’s leading facilities management companies, has pledged to help 10,000 people into employment and training by 2030, with a particular focus on those who face the greatest barriers to work. The commitment was announced today as Bidvest Noonan launched its Purpose in Action strategy. The
Customers have once again put Reapit at the top of the industry at the ESTAS, the UK’s largest residential property awards, with its automated client accounting solution, PayProp, among the night’s big winners. PayProp was named Best in Sector – Payment Services again in 2026, extending its extraordinary run to
From how investors assess opportunities to how cities are designed and experienced, Cityscape Qatar 2026 will put the questions shaping Qatar’s real estate market at the centre of the 4th Qatar Real Estate Forum. Powered by Cityscape, the Forum will take place from 27–29 October at the Doha Exhibition &
Pensdown has been named ECA Contractor of the Year – in the category up to £5 million turnover – at the 2026 ECA Industry Awards, recognising the company’s achievements in electrical contracting, engineering innovation and sustainable technology installation. The awards ceremony took place at Hilton London Bankside on Friday 9th
Goldman Sachs Alternatives to acquire a majority stake in Celnor, a fast-growing international built environment-focused testing, inspection, certification and compliance (“TICC”) platform, with Inflexion, Founder and Management reinvesting Celnor Group (“Celnor”), a leading provider of risk, safety, compliance and testing services across the built environment, announced that the Private Equity
United Trust Bank (UTB) has completed a £35.5m bridge-to-investment facility secured against a new £51.1m GDV mixed-use build-to-rent (BTR) development in South-West London. The five-year facility, provided by UTB’s Structured Property Finance team, enabled the experienced developers, Dominus New Homes, to refinance their existing development loan and release equity from
Global real estate services and investment giant CBRE has agreed a deal worth up to $1 billion to acquire London-based data centre infrastructure specialist Onnec, significantly expanding its capabilities in one of the fastest-growing sectors of the built environment. The acquisition will see CBRE pay an initial £460 million ($610
New service enhancements help local authorities and infrastructure asset managers reduce risk, improve efficiency, and make more confident, data-driven decisions about street lighting infrastructure. Kiwa CMT has further enhanced its specialist testing and inspection service for illuminated assets, helping local authorities, highways and infrastructure managers, contractors, developers, asset owners, operators
Sir Robert McAlpine has secured a £133 million construction contract to deliver a major refurbishment of the Bank of England’s historic headquarters in the City of London, marking a significant investment in the modernisation of one of the UK’s most important public institutions. The contractor has been selected ahead of Bovis and Overbury to undertake an extensive four-year programme of refurbishment, infrastructure replacement and workplace improvements across the Bank’s Threadneedle Street estate. The project will form the centrepiece of the Bank of England’s wider Location Strategy, which aims to consolidate and modernise its existing accommodation while ensuring that the historic headquarters remains operational throughout construction. The appointment follows a competitive procurement process launched approximately seven months ago, when the contract was initially valued at £142 million. Four tenders were submitted, with three contractors progressing to the final assessment stage before Sir Robert McAlpine was selected for the £133 million programme. Major Modernisation of Historic Banking Estate The refurbishment will involve extensive upgrades to the Bank of England’s existing building infrastructure, alongside improvements to workplace accommodation, public-facing areas and operational facilities. The scope includes the replacement of core building infrastructure, refurbishment of office floors, improvements to ground-floor spaces and upgrades to the building’s auditorium. Significant basement works will also form part of the construction programme, adding further complexity to the delivery of the project within the historic estate. The investment is intended to modernise the Bank’s working environment and essential building systems while supporting the continued use of its established headquarters. Some areas of the Threadneedle Street estate have not undergone substantial renewal since 1942, highlighting the scale of the modernisation required. The age and complexity of the existing buildings will present considerable challenges for the contractor, particularly where ageing infrastructure and concealed building conditions may only become apparent once refurbishment works commence. The Bank has previously acknowledged the possibility of unforeseen conditions emerging during construction, reflecting the uncertainties associated with undertaking major building works within a historic property. Complex Construction Within a Live Operational Environment One of the most demanding aspects of the project will be the requirement to deliver extensive construction works while the Bank of England continues operating from its Threadneedle Street headquarters. The building’s status as a secure financial institution, combined with its architectural heritage and central London location, will require carefully managed construction logistics, detailed programming and close coordination with the Bank’s operational teams. Works will need to be planned around the continued occupation of the estate, with particular attention to maintaining essential services, security arrangements and safe access throughout the refurbishment. The replacement of major infrastructure systems within an occupied building is expected to be a particularly important element of the programme. Mechanical, electrical and other essential building services will need to be carefully coordinated to minimise disruption while supporting the long-term performance and reliability of the estate. The project will also require a sensitive approach to the existing building fabric, ensuring that modernisation works are compatible with the historic character of the headquarters. For the construction industry, the contract represents a significant example of the technical challenges involved in upgrading major public sector buildings without taking them out of operation. Phased Delivery and Flexible Construction Programme Rather than proceeding as a single uninterrupted construction package, the refurbishment will be divided into separate sections, allowing the Bank of England to maintain greater control over the programme as works progress. The detailed scope of individual packages will be developed during the pre-construction phase, with each section requiring separate authorisation from the Bank before proceeding. This phased approach will enable the project team to respond to emerging building conditions, operational requirements and any additional works identified during the refurbishment. The Bank will retain the flexibility to expand, reduce or omit individual elements of the programme, depending on its requirements and the findings of further investigations. Such arrangements are particularly relevant to complex refurbishment projects involving older buildings, where the full condition of structural elements and existing services cannot always be established before construction begins. The approach will place considerable emphasis on pre-construction planning, cost management and collaboration between the contractor, design teams and client. It will also allow construction activities to be coordinated with the Bank’s ongoing operational needs, reducing the risks associated with undertaking major works within a continuously occupied estate. Supporting the Bank of England’s Long-Term Property Strategy The Threadneedle Street refurbishment forms a central part of the Bank of England’s Location Strategy, which is focused on improving the efficiency and suitability of its property accommodation. The programme will support the consolidation of existing facilities while upgrading workplace environments and essential infrastructure to meet future operational requirements. Across the public sector, major estate modernisation projects are increasingly focused on extending the useful life of existing buildings, improving operational efficiency and adapting established properties to changing workplace requirements. The Bank of England project reflects these priorities, combining investment in existing infrastructure with the refurbishment of working spaces and supporting facilities. The decision to modernise the existing headquarters also presents an opportunity to preserve the continued use of a prominent historic building within the City of London. For Sir Robert McAlpine, the appointment adds another substantial and technically challenging refurbishment project to its construction portfolio, requiring specialist expertise in complex building environments, structural coordination and occupied-site delivery. Construction Programme to Run Until 2030 Formal contract signing is scheduled for late November 2026, with the initial agreement expected to run until November 2030. The contract also includes an option to extend the programme by a further year, providing additional flexibility should the Bank require more time to complete individual phases. The four-year construction period will see Sir Robert McAlpine undertake a carefully sequenced programme of refurbishment and infrastructure improvements, with works progressing in accordance with the Bank’s operational requirements and approval of individual packages. The £133 million investment represents a major commitment to the long-term future of the Bank of England’s Threadneedle Street estate. Once completed, the programme is expected to provide modernised workplace accommodation, upgraded building
David Wilson Homes has secured planning approval for a new 120-home residential development between Hatfield and Welham Green in Hertfordshire, with the scheme set to deliver more than 20% biodiversity net gain alongside new affordable housing, extensive green spaces and significant investment in local infrastructure. Welwyn Hatfield Borough Council has approved the detailed design and layout of the development, which will be located off South Way, following the granting of outline planning permission in autumn 2025. The scheme represents another important addition to Hertfordshire’s residential development pipeline, combining new family housing with environmental improvements, low-carbon building technologies and investment in community facilities. New Homes and Affordable Housing The development will provide 120 new homes, including 90 properties for open market sale and 30 affordable homes, representing 25% of the overall scheme. The open market housing will comprise a mix of two, three and four-bedroom properties, providing accommodation for families and buyers seeking modern homes within the Hatfield area. Two custom-build plots will also be incorporated into the development, offering opportunities for purchasers to create homes tailored to their individual requirements. The affordable housing provision will include a combination of Social Rent, Affordable Rent and Shared Ownership properties, with one to four-bedroom apartments and houses designed to accommodate a broad range of local housing needs. The inclusion of different housing types and tenures is intended to support a mixed residential community, providing opportunities for first-time buyers, families and households requiring affordable accommodation. All properties are planned to meet the Future Homes Standard, incorporating low-carbon heating systems and high levels of energy efficiency. These measures will support the delivery of more sustainable residential accommodation, reflecting the housebuilding sector’s increasing focus on reducing operational carbon emissions and improving the long-term environmental performance of new homes. Biodiversity and Green Infrastructure at the Heart of Development A defining feature of the proposals is the emphasis on biodiversity, landscaping and accessible public open space. Approximately 12 acres of dedicated green space will be incorporated into the development, providing recreational areas for residents while creating new habitats for wildlife. The landscape strategy includes a water meadow, community orchard, birch copse, two ponds and additional meadow areas, alongside two fully equipped children’s play areas. Together, these features are designed to improve ecological connectivity, encourage biodiversity and establish an attractive natural environment throughout the neighbourhood. Council planning officers concluded that the proposed landscaping and habitat improvements would increase biodiversity across the site by more than 20%. This exceeds the statutory 10% biodiversity net gain requirement generally applicable to major residential developments in England, demonstrating a commitment to integrating environmental improvements into the housing scheme. The development will also benefit from its proximity to existing open spaces to the south of Hatfield, helping connect the new neighbourhood with the surrounding landscape. Lauren Potter, Development Director at Barratt David Wilson North Thames, welcomed the approval and highlighted the importance of combining housing delivery with environmental improvements. “This new, sustainable development off South Way will bring forward a new community of quality homes that complement the local area, while also providing much-needed affordable family housing,” she said. “Green space will be at the heart of the plans, with attractive landscaped areas designed to create an appealing setting for residents as well as support biodiversity.” Potter added that the development would provide opportunities for residents to enjoy a greener and better-connected lifestyle, with the landscape proposals expected to deliver biodiversity improvements exceeding 20%. £4m Investment in Education and Community Infrastructure Alongside the new homes, David Wilson Homes will provide a serviced site for a future school, supporting the long-term educational requirements of the growing local community. The development will also generate a £4 million Section 106 contribution towards education and other essential infrastructure and public services. Funding will support primary and secondary education, childcare provision and Special Educational Needs and Disabilities (SEND) facilities. Additional contributions will be directed towards fire and rescue services, highways improvements, medical facilities and local sports provision. These commitments form an important part of the development’s wider planning obligations, helping ensure that new housing is accompanied by investment in the infrastructure and services needed to support population growth. For the public sector and construction industries, the scheme demonstrates the increasingly important relationship between residential development, community infrastructure and long-term local authority planning. Improved Walking Routes and Public Access The development will also introduce improvements to existing pedestrian and recreational connections across the site. A public footpath and bridleway will be upgraded, while a new ridgeway walk will be created around the perimeter of the development. These improvements will provide enhanced opportunities for walking and outdoor recreation, helping residents access the surrounding countryside and nearby green spaces. The combination of landscaped areas, wildlife habitats and improved public routes is intended to create a neighbourhood where the natural environment forms an integral part of the residential layout. This approach reflects a wider shift in housing design towards creating communities that prioritise accessible green space, active travel and environmental quality alongside the delivery of new homes. Supporting Hertfordshire’s Long-Term Housing Growth The approved scheme forms part of Welwyn Hatfield Borough Council’s wider housing strategy, which aims to deliver approximately 13,400 new homes across the borough by 2036. With housing demand continuing to place pressure on local authorities across the South East, developments that combine market housing, affordable accommodation and supporting infrastructure remain central to meeting long-term residential requirements. The South Way development will contribute 120 additional properties towards these ambitions while incorporating measures intended to improve sustainability and biodiversity. For David Wilson Homes, the approval represents an opportunity to demonstrate how modern housebuilding can combine energy-efficient construction, mixed-tenure housing and landscape-led masterplanning. The scheme’s commitment to more than 20% biodiversity net gain is particularly significant as developers increasingly seek to integrate measurable ecological improvements into residential projects. With detailed planning approval now secured, the development moves another step closer to delivering a new neighbourhood between Hatfield and Welham Green. Once completed, the project will provide 120 homes, substantial public open space
Bidvest Noonan, one of the UK’s leading facilities management companies, has pledged to help 10,000 people into employment and training by 2030, with a particular focus on those who face the greatest barriers to work. The commitment was announced today as Bidvest Noonan launched its Purpose in Action strategy. The launch was attended by Mpumi Madisa, Chief Executive of the Bidvest Group, the Johannesburg-listed parent company and the first Black woman to lead a JSE Top 40 company. Bidvest Noonan, which provides cleaning, security and facilities services, marks its 50th anniversary in 2027. The pledge sits at the heart of Purpose in Action, the company’s new social value strategy, launched today. It commits Bidvest Noonan to two goals by 2030: supporting 10,000 people into employment and future skills, and delivering one million hours of community impact through volunteering, fundraising and local partnerships. Those supported will include people with disabilities, refugees, women returning to the workforce and the long-term unemployed, helped through work placements, recruitment mentoring, employability workshops and training. The commitment builds on Bidvest Noonan’s partnerships with organisations such as Tent UK – a network of over 80 major companies that are committed to hiring refugees across the country and helping them become job-ready. Ola is one example of how that support can lead to a real opportunity. Originally from Nigeria, Ola, 33, struggled to find work despite a background in hospitality and IT, unsure how to navigate an unfamiliar jobs market. With support into employment, he received CV and interview support before completing the training, vetting and licensing required to become a Security Officer. He is now building a career with Bidvest Noonan. “When I arrived, I didn’t know anyone and I didn’t know how the system worked here. I kept applying for jobs and hearing nothing back, and I started to wonder if I’d ever get settled. The support I received helped me understand the process and gave me the confidence to go for it. Now I have a job I’m proud of and a future I can plan for.” Ola, Security Officer at Bidvest Noonan. Stories such as Ola’s show what can be achieved through partnerships that help people overcome barriers to employment. Bidvest Noonan works with organisations including Business in the Community Ireland and Tent UK to widen access to work and support sustainable careers. Jen Stobart, Director of Tent UK, said: “Refugees arrive with skills, experience and a determination to rebuild their lives, but too often they struggle to get a foot in the door. Hiring refugees is a win for refugees and it’s also good business. We’re proud to support this pledge by Bidvest Noonan – companies that lead the way can gain motivated and loyal talent while giving refugees the stability to rebuild their lives.” Julie Mernagh, Chief People and Culture Officer at Bidvest Noonan, said: “Talent and potential exist in every community we are part of. Access to opportunity does not. Purpose in Action is our commitment to help close that gap. Through our colleagues and partnerships, we can open doors for people, whether that is a first job, a step up in their career or new skills for the future.” Declan Doyle, Chief Executive Officer of Bidvest Noonan, said: “Bidvest Noonan has grown over almost 50 years because of the people who deliver its services every day. A job can be a first opportunity, but people also need the chance to learn and progress, and this commitment brings the two together. As the company approaches its 50th anniversary, we want it to be known not only for the services it delivers, but for the opportunities it creates.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Customers have once again put Reapit at the top of the industry at the ESTAS, the UK’s largest residential property awards, with its automated client accounting solution, PayProp, among the night’s big winners. PayProp was named Best in Sector – Payment Services again in 2026, extending its extraordinary run to nine consecutive ESTAS titles. Unlike many industry awards, ESTAS winners are determined by verified customer reviews collected throughout the year. For Reapit, the awards represent recognition from the people who use its technology every day. Nine years at the top Nine consecutive ESTAS victories is a milestone few PropTechs can claim. For Reapit’s PayProp client accounting platform, it reflects a continued focus on helping letting agents reduce manual payment admin, protect client money and operate more efficiently. In a sector facing growing operational and regulatory pressures, agents continue to rely on the PayProp platform to automate one of the most important functions within their business. The industry’s biggest celebration As the headline partner of the ESTAS Awards, Reapit also welcomed customers and industry leaders to the event, hosting three VIP tables during one of the property sector’s biggest annual gatherings. The evening brought together agents, suppliers and industry experts from across the sector and highlighted the important role customer feedback continues to play in shaping products, services and standards across the industry. “First and foremost, thank you to our customers. Awards decided by industry panels are always welcome, but recognition from the people who use your technology every day carries a different weight,” said Steve Richmond, Reapit’s General Manager. “For our PayProp platform to secure a ninth consecutive ESTAS title is an incredible achievement and a reflection of the consistency, expertise and commitment of our team. Building, Design & Construction Magazine | The Choice of Industry Professionals
From how investors assess opportunities to how cities are designed and experienced, Cityscape Qatar 2026 will put the questions shaping Qatar’s real estate market at the centre of the 4th Qatar Real Estate Forum. Powered by Cityscape, the Forum will take place from 27–29 October at the Doha Exhibition & Convention Center (DECC), bringing together leading voices from Qatar and around the world. Headline speakers include H.E. Sheikh Hamad bin Talal Al-Thani, CEO of Qatari Diar Real Estate Investment Company; H.E. Sheikh Nasser Bin Abdulrahman Al-Thani, CEO of Qetaifan Projects; H.E. Sheikh Jassim Bin Jabor Al Thani, CEO of Ariane Projects; and Eng. Ahmad Mohamad Al-Tayeb, Group CEO of Barwa Real Estate Group. International speakers include Jan Vapaavuori, Chairman of Finnvera, Finland’s export credit agency, former Mayor of Helsinki and member of the World Economic Forum’s Global Future Council on Cities; Nikki Greenberg, CEO of Real Estate of the Future; and Professor Carlos Moreno of IAE Paris-Sorbonne, creator of the ‘15-Minute City’ concept. Alexander Heuff, Group Director, Cityscape, said: “Strong real estate markets need to work for both investors and the people who use them every day. Investment decisions may begin with confidence in the market, but long-term performance is ultimately tested by whether a place continues to attract people, businesses and activity. That is why this year’s Forum looks at investment and the way cities are planned and experienced as part of the same conversation. Bringing those perspectives together gives visitors a fuller understanding of what can sustain opportunity over time, rather than looking at individual projects in isolation.” The programme will open on 27 October with a focus on Qatar’s investment outlook and the market’s next phase of growth. Senior leaders from Qatari Diar, Qetaifan Projects and Barwa will discuss the priorities behind some of the country’s largest developments, how projects move from masterplan to delivery and what international investors now look for before committing capital. Technology will also take the spotlight, with Nikki Greenberg exploring how AI and smart infrastructure are changing the way investors assess markets and assets across the Gulf. Professor Carlos Moreno will then examine how cities work for the people who live in them, looking at how access to work, education, healthcare, retail and public space within a neighbourhood can strengthen its appeal and resilience over time. Day one will also examine regulation and the investment environment, with perspectives from the Real Estate Regulatory Authority (Aqarat), alongside sessions on Qatar’s economic diversification, sustainable development and the changing role of retail and hospitality. The day will conclude with the Qatar Real Estate Awards ceremony. Across the following two days, the focus will move to investment decisions. Sessions will cover how investors evaluate opportunities, diversify portfolios and secure financing, alongside real estate tokenisation and what first-time buyers in Qatar should understand before investing. The programme will also look ahead to the next generation of development in Qatar, examining how wellness, healthcare, education, connectivity and community design are influencing where people choose to live and where investment follows. Under the theme ‘Where Vision Meets Investment’, Cityscape Qatar 2026 and the 4th Qatar Real Estate Forum will connect the projects and opportunities across the event with the wider market conversations shaping Qatar’s real estate sector. Visitor passes are free for all three days, with registration now open here. Building, Design & Construction Magazine | The Choice of Industry Professionals
Pensdown has been named ECA Contractor of the Year – in the category up to £5 million turnover – at the 2026 ECA Industry Awards, recognising the company’s achievements in electrical contracting, engineering innovation and sustainable technology installation. The awards ceremony took place at Hilton London Bankside on Friday 9th October, bringing together businesses and individuals from across the electrotechnical and engineering services industry, an event that formed part of the Electrical Contractors’ Association’s (ECA) 125th anniversary celebrations. Pensdown’s entry highlighted its delivery of a 765kW rooftop solar photovoltaic (PV) installation and 0.5MW battery storage system at a large distribution facility in Lutterworth, Leicestershire, during 2024/25. The project demonstrated Pensdown’s ability to undertake technically demanding work within a live operational environment, combining electrical engineering expertise with bespoke design solutions and a rigorous approach to health and safety. The Lutterworth installation involved fitting 1,512 solar panels across a large industrial rooftop while the distribution facility remained operational. The work required careful coordination of logistics, installation activities and safety measures, with Pensdown reporting no incidents throughout the project. To achieve the required precision when positioning the mounting brackets, the team designed and fabricated a bespoke timber template rig. This supported the setting-out and installation of 4,356 individual brackets, helping ensure accuracy across the rooftop arrays. The project also presented a challenge below the roof. With limited wall space available for the solar PV infrastructure, Pensdown designed and constructed a bespoke, freestanding modular steel-framed structure known as the PV Pod. Using a Sikla system, the solution accommodated the required infrastructure within the available plant area. A second phase introduced 0.5MW of battery storage. Associated works included preparing a concrete base for a new GRP enclosure, installing distribution switchgear to connect the battery storage container to the building’s main low-voltage panel and fitting Armco barriers to provide physical protection around the container. The phased energisation of the systems enabled the project to progress in line with the programme and the availability of the building’s new electrical supplies. Safety and quality at the centre of delivery Working at height across an extensive industrial roof required a structured approach to managing risk. Pensdown installed and maintained scaffold access stairs, an electric materials hoist and skylight protection systems throughout the project. Daily reviews of risk assessments and method statements, alongside toolbox talks, formed part of the site team’s working practices. Quality assurance checks were also carried out at each stage of the mounting system installation, including verification that fixings were tightened to the manufacturers’ specified torque requirements. The project provided an example of how detailed planning, practical engineering and consistent safety procedures can support the delivery of complex electrical installations in operational environments. The award entry also highlighted Pensdown’s wider work in sustainable technologies and energy efficiency. Alongside its growing involvement in commercial solar PV and battery storage, the company also completed a significant LED lighting retrofit project in Edinburgh during the same period. The installation incorporated bespoke Zumtobel LED luminaires and Helvar intelligent lighting controls to support lighting and energy optimisation. It demonstrated that Pensdown’s services extend beyond conventional electrical installation to include structured cabling, audio-visual systems, EV charging, LED lighting and renewable energy technologies. This broad, predominantly in-house capability enables the business to coordinate multiple disciplines through a single contractor. The company’s approach also includes the recycling of waste electrical and electronic equipment (WEEE) and the reuse of existing infrastructure where appropriate. Pensdown’s award reflects the contribution of its team to delivering complex projects while maintaining a focus on quality, safety and client requirements. The Lutterworth installation demonstrated the scale and technical complexity of projects that can be delivered through specialist knowledge, careful planning and resourceful engineering. Winning the ECA Contractor of the Year Award provides industry recognition for Pensdown’s work and its continued development across electrical contracting, renewable energy and integrated building technologies. For more information: www.pensdown.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
Goldman Sachs Alternatives to acquire a majority stake in Celnor, a fast-growing international built environment-focused testing, inspection, certification and compliance (“TICC”) platform, with Inflexion, Founder and Management reinvesting Celnor Group (“Celnor”), a leading provider of risk, safety, compliance and testing services across the built environment, announced that the Private Equity business within Goldman Sachs Alternatives (“Goldman Sachs”) has entered into a definitive agreement to acquire a majority stake in the Company. Founder and Chief Executive Officer, Simon Parrington, and members of the wider management team will remain invested alongside Goldman Sachs, together with existing shareholder Inflexion Private Equity (“Inflexion”). The transaction is subject to customary regulatory approvals and is expected to close in Q1 2027. Founded in 2023, Celnor has rapidly grown into a leading platform in the TICC market. Today, the Group supports more than 20,000 clients, employs over 2,750 colleagues across 60 locations and generates annual revenues exceeding £300 million. With a national footprint across the UK and a growing international presence in the US and Europe, Celnor supports customers in meeting increasingly complex regulatory, safety and environmental requirements across the built environment. The investment from Goldman Sachs will support Celnor’s next phase of growth, accelerating its international expansion strategy, particularly in the United States and Continental Europe, while further strengthening its technology, operational and acquisition capabilities. Celnor will continue to pursue targeted acquisitions, invest in talent and innovation, and support its growing customer base. Simon Parrington and the existing management team will continue to lead Celnor, supported by Goldman Sachs and Inflexion. Simon Parrington, Founder and Chief Executive Officer of Celnor Group, said: “In three years, we have built a strong international platform, underpinned by exceptional people, trusted brands and a shared commitment to our customers. Partnering with Goldman Sachs is an important next step in our long term strategy and will enable us to invest further in our people and capabilities, strengthen our proposition for clients and create new opportunities for colleagues across the Group. I would like to thank Inflexion for its invaluable support since day one and am delighted they will continue as a partner in our next chapter.” Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said: “Having built a close relationship with Simon and the management team since Celnor’s formation, we are delighted to invest in the business at this hugely exciting stage in its evolution. We’ve been very impressed by Simon and the management team’s track record of building and scaling the Group via M&A, while maintaining a clear focus on its customers, its service quality and importantly, its people. We look forward to partnering alongside Inflexion and management to drive future growth, both in the UK and internationally.” Harry Wilson, Investor within Private Equity at Goldman Sachs Alternatives, added: “Celnor has established a differentiated position in an attractive end-market underpinned by deep technical expertise, compliance requirements and trusted customer relationships. We look forward to drawing on Goldman Sachs’ global network and value creation capabilities to support the Company’s continued development, both organically and through targeted acquisitions.” Tom Pemberton, Partner and Head of Enterprise Fund, Inflexion, commented, “Celnor is a great example of how Inflexion can provide huge flexibility and generate significant value. We backed an entrepreneurial founder to start from scratch to build a high quality, scaled business in an attractive, fragmented market. Simon and the team have executed the strategy incredibly and we look forward to continuing to support them as a minority shareholder.” Dominic Clark, Investment Director, Inflexion, added, “Celnor is an example of buy-and-build done well: a clear strategy, a disciplined and relationship-led approach to acquisitions, and sustained investment in the businesses once they joined. That combination has developed deep technical expertise across the Group, delivered at scale, and there is significant runway ahead – particularly in the US and Continental Europe – and we are proud to remain part of Celnor’s story alongside Simon, the team and Goldman Sachs.” Celnor and Inflexion were advised by Rothschild & Co (Corporate Finance), OC&C (Commercial), Alvarez & Marsal (Financial, Tax), and Addleshaw Goddard and Slaughter and May (Legal). Goldman Sachs Alternatives was advised by Houlihan Lokey (M&A), Linklaters (Legal), and EY (Financial and Tax). Building, Design & Construction Magazine | The Choice of Industry Professionals
United Trust Bank (UTB) has completed a £35.5m bridge-to-investment facility secured against a new £51.1m GDV mixed-use build-to-rent (BTR) development in South-West London. The five-year facility, provided by UTB’s Structured Property Finance team, enabled the experienced developers, Dominus New Homes, to refinance their existing development loan and release equity from the scheme as it approached practical completion. The development, known as Wandle Place, comprises 96 BTR apartments and approximately 9,000 sq.ft. of commercial space in the popular and well-connected London suburb of Earlsfield. The scheme has already attracted strong rental demand, with tenancies agreed on nearly half of the apartments within seven weeks of marketing. Dominus New Homes has considerable experience in the BTR sector and has successfully delivered more than 2,000 homes. The opportunity was introduced to UTB’s Martin Cameron by Stan Lersch, founder of Property Finance Services acting for Dominus New Homes. Deal highlights Loan size – £35.5m Development GDV – £51.1m LTV – 70% Term – 5 years with stepped down rate once agreed ICR achieved UTB structured the £35.5m facility at 70% loan-to-value (LTV), providing the borrowers with funding certainty through the initial letting period and into the investment phase. The bespoke facility includes a reduction in the lending margin once rental income has stabilised and an agreed interest cover ratio (ICR) has been achieved. This is expected within three to six months of practical completion and allows the borrowers to benefit from more competitive funding costs as the development becomes established. The transaction demonstrates UTB’s appetite for substantial lending opportunities across the living sector and its ability to structure facilities which support developers through the transition from construction to income-producing investment assets. Chris Mason, Director of Dominus New Homes, commented: “Our business model has always been to build for sale, but current poor demand to buy new flats in London required a rental approach this time, together with an investment loan to repay our development finance on time. After all the hard work involved in bringing a development of this scale to completion, it’s particularly rewarding to see such a quick and positive response from prospective tenants. “With UTB’s funding in place, we can concentrate on getting the remaining apartments let, welcoming our first residents and making this a development people will be delighted to call home.” Stan Lersch, Founder of Property Finance Services, said: “Dominus New Homes have an outstanding track record in residential development and have delivered another high-quality scheme. With the development nearing completion, the priority was to secure a funding solution which would refinance the existing facility, release some equity and provide long-term certainty without the need for another refinancing exercise in a few months’ time. “UTB understood exactly what we were trying to achieve and came back with a well-structured proposal which worked for the clients both immediately and over the longer term.” Martin Cameron, Business Development Director – Structured Property Finance, United Trust Bank, said: “Build-to-rent is an increasingly important part of the UK residential property market, and developers need funding partners who understand that completing a scheme is only one stage of the investment journey. “At £35.5m, this is a substantial commitment to a new UTB customer, and a good example of how our Structured Property Finance team can provide flexible, commercially attractive funding for larger and more complex property transactions.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Global real estate services and investment giant CBRE has agreed a deal worth up to $1 billion to acquire London-based data centre infrastructure specialist Onnec, significantly expanding its capabilities in one of the fastest-growing sectors of the built environment. The acquisition will see CBRE pay an initial £460 million ($610 million) in cash, with a further performance-related payment of up to £300 million ($400 million) potentially payable over several years. The transaction represents a major investment in specialist data centre engineering, network infrastructure and technical services, strengthening CBRE’s position in a market being driven by growing demand for cloud computing, artificial intelligence and digital connectivity. Founded in 1986 and headquartered in London, Onnec specialises in the design, deployment and maintenance of network, fibre and data centre infrastructure, providing critical technical services to major technology operators and hyperscale data centre customers. The business employs approximately 800 people across the United Kingdom, continental Europe and the Asia-Pacific region, giving CBRE an established international platform from which to expand its specialist infrastructure operations. Once completed, Onnec will become part of CBRE’s critical infrastructure services business, complementing the group’s existing data centre infrastructure capabilities in the United States. The acquisition is expected to create opportunities for greater international coordination across the design, installation, commissioning, operation and maintenance of increasingly complex digital infrastructure facilities. For the construction and engineering sectors, the deal highlights the growing strategic importance of the specialist contractors and technical service providers responsible for delivering the infrastructure within modern data centres. While investment in data centre development is frequently measured through the construction of large-scale buildings and campuses, the technical infrastructure housed within these facilities is equally critical to their performance. High-capacity fibre networks, structured cabling, connectivity systems and associated infrastructure form essential components of the operational environment required by hyperscale technology businesses. As demand for computing capacity increases, developers and operators are placing greater emphasis on the delivery of reliable, scalable and resilient facilities capable of supporting increasingly demanding technology requirements. Onnec’s specialist expertise will therefore strengthen CBRE’s ability to support customers across the wider lifecycle of data centre assets, from initial infrastructure deployment through to ongoing technical maintenance. The financial outlook for the acquired business also demonstrates the scale of the opportunity within this rapidly expanding market. Onnec is expected to generate approximately £370 million ($498 million) in revenue during 2027, alongside core earnings before interest, tax, depreciation and amortisation (EBITDA) exceeding £50 million ($67 million). Including the anticipated contribution from Onnec, CBRE expects its critical infrastructure services business to generate nearly $4.5 billion in total revenue in 2027. The projected performance underlines the increasing significance of digital infrastructure services within CBRE’s broader international property and facilities management operations. The acquisition also reflects a wider transformation taking place across the commercial property sector, where data centres have emerged as a major area of investment alongside more traditional asset classes such as offices, industrial and logistics facilities. Unlike conventional commercial buildings, data centres require highly specialised engineering systems, resilient power infrastructure, sophisticated cooling arrangements and extensive digital connectivity to maintain continuous operations. This complexity creates sustained demand for specialist engineering expertise, both during initial construction and throughout the operational life of the facility. For CBRE, bringing Onnec into its critical infrastructure division will provide additional technical resources and geographical coverage, particularly across European and Asia-Pacific markets where the company already serves major technology customers. The combination of Onnec’s established regional operations and CBRE’s existing US capabilities is expected to strengthen the group’s ability to support international clients operating across multiple data centre markets. The transaction remains subject to the necessary regulatory and other approvals, with completion anticipated around the end of 2026. If finalised, the acquisition will represent another significant step in CBRE’s expansion into specialist infrastructure services, positioning the business to capitalise on the continued growth of global data centre development and the increasingly sophisticated engineering requirements of the digital economy. Building, Design & Construction Magazine | The Choice of Industry Professionals
New service enhancements help local authorities and infrastructure asset managers reduce risk, improve efficiency, and make more confident, data-driven decisions about street lighting infrastructure. Kiwa CMT has further enhanced its specialist testing and inspection service for illuminated assets, helping local authorities, highways and infrastructure managers, contractors, developers, asset owners, operators and consultants, maintain safe, compliant, and efficiently managed lighting infrastructure. With millions of lighting assets across the UK, effective testing and inspection is essential to public safety, regulatory compliance, and responsible asset management. Kiwa CMT’s holistic service brings structural testing, electrical inspection and testing, and asset data collection together to provide a clearer picture of asset details and condition and support informed maintenance and investment decisions. The service includes non-destructive structural assessment of lighting columns, including the detection of below-ground corrosion and assessment of hot-swaged joints. Electrical testing supports legally required periodic inspection and testing in accordance with BS 7671 and relevant health and safety requirements. Data collection can also include inventory validation, GPS positioning, and condition surveys for highway infrastructure. Enhanced RLS™ system strengthens testing certainty. Kiwa CMT’s proprietary RLS™ system has also been enhanced, further strengthening its non-destructive approach to assessing lighting column condition. The technology provides a cost-effective assessment of below-ground corrosion and estimates the percentage loss of section within the censored zone on the root section of the column. This enables assets to be classified on a scale, supporting decisions on whether a column requires replacement or can remain in service subject to periodic re-testing. The dry-coupled testing system can assess columns efficiently without the need for intrusive investigation. This helps asset managers obtain meaningful condition information while minimising disruption to the infrastructure and surrounding environment. The new RLS instruments have been manufactured using updated technology that automatically captures test results and can transfer data remotely. The new instruments are handheld which can be used with minimum disruption to the public and without opening the column door. The instruments meet our UKAS accreditation requirements for the ‘Relative Loss of Section’ (RLS) structural testing of lighting columns. Results can also be uploaded electronically into a client’s asset inventory, helping eliminate manual data handling and making inspection information more readily available for ongoing asset management. Better data. More confident decisions. For infrastructure managers, testing is about more than identifying individual defects. Reliable, consistent condition data is critical to understanding asset risk, prioritising interventions and planning future maintenance and replacement programmes. Kiwa CMT’s enhanced service is designed to turn inspection results into actionable asset intelligence. By combining structural and electrical testing with accurate asset data, clients can develop a more complete understanding of their lighting infrastructure and make decisions based on evidence rather than assumptions. With electrical inspection of lighting assets required at prescribed intervals and structural testing typically undertaken every two to five years depending on asset condition and risk, a planned testing programme can help asset owners identify emerging issues before they become more costly or disruptive problems. The Kiwa CMT approach supports risk-based asset management and aligns with relevant industry guidance, including the Institution of Lighting Professionals’ Guidance Note 22/19 (GN22), as well as BS 7671 requirements for electrical safety. Kiwa CMT’s UKAS-accredited services provide additional assurance for organisations responsible for the safety, compliance, and performance of lighting infrastructure. Stephen Spensley at Kiwa CMT, says: “Our enhanced testing and inspection service gives asset owners the information they need to make confident decisions about their lighting infrastructure. “By combining robust testing technology with high-quality asset data, we can help clients identify risk, prioritise maintenance and replacement, demonstrate compliance and improve operational efficiency. “The latest enhancements to our RLS™ system further strengthen the certainty and value we can provide. For organisations responsible for large and often ageing lighting inventories, having reliable condition information is critical to managing risk and making the best use of available resources.” For more information about Kiwa CMT’s testing and inspection services for illuminated assets, visit https://www.kiwa.com/gb/en-gb/services/testing/testing-and-inspection-of-illuminated-assets/ Building, Design & Construction Magazine | The Choice of Industry Professionals