Work is underway on a new public square next to the #BuiltByGMI apartment block at the £200m Becketwell regeneration project in Derby city centre. GMI Construction were joined by developers St James Securities as well as representatives from Derby City Council, D2N2, and other key stakeholders at a ground-breaking ceremony
A development partner is being sought for a major, first-of-its-kind industrial regeneration scheme on the Greenwich Peninsula. The 3.38-acre site at 75 Bugsby’s Way will be transformed into one of London’s first multi-storey industrial buildings, meeting one of the Mayor Sadiq Khan’s key objectives for industrial intensification set out in the
Investment and development company Cole Waterhouse has completed the acquisition of a key development site in Digbeth, paving the way for the creation of Upper Trinity Street (UTS), a £260 million mixed-use scheme which will deliver 943 new homes and a new public park for the city. Cole Waterhouse has
The UK company behind a pioneering new building material is another step closer to mainstream production, as it gears up for growth following international notoriety and investment. Environmental innovator, Sphera, now Low Carbon Materials (LCM), is one of many companies shaping the ‘green construction’ sector as its science-based, lower carbon,
The importance of understanding the revised Code of Practice for Category 3 Control fire performance cables which reduce harmful smoke, toxic gases and flame spread in the event of a real fire cannot be stressed enough. These cables maintain the circuit integrity of a building – providing power for essential
Construction of BREEAM excellent unit is situated at PLP’s newly acquired 17-acre development site at the well-established and successful Stone Business Park in Stafford Glencar, a leading UK construction company that was recently ranked amongst Europe’s fastest growing businesses, has today announced that it has been appointed by long term
Pound’s Park in Sheffield city centre is quickly taking shape with the installation of a new children’s play area this month. Heralded as the flagship green space in Sheffield City Council’s Heart of the City development scheme, Pound’s Park will be located on the former fire station site between Rockingham
The launch of HS2’s giant tunnel boring machine, which set off on its five-mile journey from West Ruislip to Greenford on 6th October, has sparked new training and employment opportunities for residents in seven London boroughs. HS2’s construction partner, Skanska Costain STRABAG (SCS), is working in partnership with Danny Sullivan
Global Student Accommodation (GSA), the global leader in student housing, and leading UK Design & Build construction company, McAleer & Rushe have celebrated the ‘topping out’ of student housing scheme St Crispin’s House, Norwich. The construction milestone signifies the installation of the final piece of the structure of the building.
nvesting in commercial real estate can be a life-changing experience. Not only do you get the chance to build up capital, but you also get to learn about an industry that’s vital to economics. If you’re interested in this lucrative real estate sector, there are a few things you should
Work is underway on a new public square next to the #BuiltByGMI apartment block at the £200m Becketwell regeneration project in Derby city centre. GMI Construction were joined by developers St James Securities as well as representatives from Derby City Council, D2N2, and other key stakeholders at a ground-breaking ceremony to mark the start of building works on Springwell Square, which will be located on the site of the former Central United Reformed Church. Springwell Square will be the centrepiece of the #BuiltByGMI development, adjacent to the two-bedroom Build to Rent (BTR) apartments, currently being built on the site previously occupied by Debenhams on Victoria Street. The development will be operated by Grainger PLC, the UK’s largest residential landlord, and is scheduled to be completed by Spring 2023. Future planned phases at the site include new grade A offices and commercial space, 3,500-capacity performance venue, a hotel and a multi-storey car park. Delighted to see work begin on the multi-purpose square, GMI Divisional Managing Director Andy Bruce said: “Over £1m is being spent on the square and it will make a massive difference to the area, with its high-quality finish and landscaping making it a real focal point for the development. “In terms of the apartment block itself, the interior is progressing at a great rate of Knots, and it’s a job that we’re going to be extremely proud of when it’s finished. “It has really kick-started the re-development of the Becketwell area of Derby, which has been needed, and is a welcome boost to the East Midlands.” Growing their portfolio of public and private clients in the Midlands, GMI were awarded the contract worth £30m by St James Securities ahead of the demolition work, which started in March 2021. “This is yet another job we’ve secured in the East Midlands on top of those including a Bottling Plant at Dove Valley Foston, which we’re working on for a German Client,” added Bruce. “It’s a really exciting time for GMI in the Midlands.” Anticipated to create more than 2,000 jobs, the regeneration scheme has been given a ringing endorsement by Steve Hassall, Member of Regeneration, Decarbonisation & Strategic & Transport Cllr. He said: “It’s great to see the building itself going up, but it is also great to see the ground-breaking on the public square, which will be open for the public to enjoy. “For a lot of years, this particular area of the city has languished as a bit of a forgotten piece of the city, so it’s a fantastic opportunity for this site to be utilised like it has never been before. “We’ve enjoyed a great partnership with GMI throughout the process, with quality of work and timescales second to none. “It’s a real testament to everyone on site that things are on target.” The most significant development in Derby city centre since the Westfield Centre in 2007, considerable planning has gone into ensuring work is both sustainable and environmentally friendly. Strict noise, dust, vibration monitoring and environmental controls have been put in place to minimise the impact on surrounding businesses and properties. David Williams, Deputy Chair of D2N2 Local Enterprise Partnership (LEP) said: “It’s one of those really good examples of collaborative working between the City Council, developer and contractor. “Considering this is an enormous development in the middle of quite a tight area, the impact on the city has been minimal. “I haven’t heard of any issues at all, so I think it’s a fantastic achievement.” Explaining how the square will benefit the area, Director of St James Securities Paul Morris said: “We’re delighted to see construction work start on schedule as we move to the next stage of this landmark regeneration scheme for the City of Derby. “Over the past five years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and put together a scheme which will breathe new life into the area. “Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space, and it will improve the vibrancy and attraction of the city centre.”
A development partner is being sought for a major, first-of-its-kind industrial regeneration scheme on the Greenwich Peninsula. The 3.38-acre site at 75 Bugsby’s Way will be transformed into one of London’s first multi-storey industrial buildings, meeting one of the Mayor Sadiq Khan’s key objectives for industrial intensification set out in the London Plan. The Mayor is keen to attract new business to the area and create employment opportunities for the local community through the initiative. The project will be highly sustainable, serving as a benchmark for future industrial development. The successful developer will enter an agreement with Greater London Authority Land and Property (GLAP) to design, develop and build the £107 million scheme and will be granted a 250-year leasehold on the site. This new project forms part of the £8.4bn, 20-year regeneration of the Greenwich Peninsula, including the creation of seven new neighbourhoods, 17,500 new homes and 48 acres of public green space. Tom Copley, Deputy Mayor for Housing and Residential Development, said: “The Mayor and I are committed to the regeneration of Greenwich, and other areas in London with significant potential for growth. “The regeneration of 75 Bugsby’s Way into one of London’s first multi-storey industrial buildings will be a landmark moment, transforming the Greenwich Peninsula into a thriving hub for commerce and business. This is an exciting opportunity, and I look forward to securing a partnership which brings to life our vision for a more prosperous city for all Londoners.”
Investment and development company Cole Waterhouse has completed the acquisition of a key development site in Digbeth, paving the way for the creation of Upper Trinity Street (UTS), a £260 million mixed-use scheme which will deliver 943 new homes and a new public park for the city. Cole Waterhouse has entered into an agreement with debt facility provider Ingenious to acquire the land from multiple private owners, with Auxillium Real Estate acting as the debt broker. The purchase comes after Birmingham City Council granted planning permission in July 2021 for the transformation of the industrial land into a cultural, commercial and residential scheme. It will include the creation of Pump House Park which will sit alongside the canal and the historic lock keepers cottage which will be retained. Last year Cole Waterhouse signed the first tenants at UTS including the world’s first Museum of Youth Culture, Birmingham Music Archive and Digbeth’s legendary Pat Benson Boxing Academy which together will occupy over 15,000 sq ft of space. Designed by Corstorphine & Wright, UTS will deliver a blend of rentable and open market sales homes, some with live-work space and roof gardens, a 133-bedroom hotel, 60,000 sq ft of flexible commercial space, car parking and large new areas of public realm across a network of landscaped yards, squares and hidden spaces. The development of UTS is expected to create 600 jobs during the construction phase, deliver £229.5m GVA to the local economy and will create up to 313 additional jobs once built. Phase one will see the development of a portion of the residential element of the scheme comprising build-to-rent housing. Speaking about the acquisition, Damian Flood, CEO at Cole Waterhouse commented: “With the land now successfully acquired, we look forward to the delivery of this major mixed-use scheme. Over the course of the next few months we will be tendering the construction contract for phase one, and aim to start on site by Q3 next year. We will also be appointing a real estate adviser to support us with marketing the residential offer both locally and internationally. “There has been a huge collaborative effort from the stakeholders including the City Council, the local community of Digbeth, the Canal & River Trust and our project team and I would like to thank everyone for supporting our vision and for their unwavering commitment to the delivery of UTS.” Simon Delahunty, Assistant Director Development Planning & Development at Birmingham City Council added: ““The announcement that Cole Waterhouse and its funding partners have now acquired the land to bring forward Upper Trinity Street is very welcome news for the city of Birmingham. We look forward to seeing their plans emerge and to witness the transformation of this area of Digbeth with investment for new homes, spaces for people to enjoy and places for people to work.” The value is undisclosed.
The UK company behind a pioneering new building material is another step closer to mainstream production, as it gears up for growth following international notoriety and investment. Environmental innovator, Sphera, now Low Carbon Materials (LCM), is one of many companies shaping the ‘green construction’ sector as its science-based, lower carbon, new-age building material proves real promise as a solution for the construction industry in achieving net zero emissions. The company’s flagship product, OSTOⓇ, has been technically engineered to utilise waste and by-products in its manufacture which would otherwise be destined for incineration or landfill – further reducing carbon emissions – and creating a ‘win-win’ solution for both industry and the environment twice over. Such is the radical innovative nature of the company’s approach and solution, in just a few years since its inception, it has already achieved global recognition, business acceleration support, and a string of awards, including, not least, an Earthshot Prize nomination, placing it among the 1,000 most impactful and inspiring solutions for environmental issues globally. Dr Natasha Boulding, CEO, and Co-founder of Low Carbon Materials, a purpose-led company, said: “We’re thrilled to be taking the company forward into its next phase of development, multiplying the amount of waste diverted from incineration, and helping construction companies achieve net zero – all whilst helping our planet. There is nothing more important or rewarding than that for us. “The targets set out by the UK government to achieve net zero can only be achieved with the right solutions and a new way of thinking and working. We’re scientists working with a wide range of industry specialists to realise our product plans, which once on the market, could radically redefine how we build, and significantly reduce environmental damage, particularly as concrete accounts for 8% of carbon emissions*. Globally, and working collaboratively, we have the potential to save hundreds of thousands of tonnes of CO2e with this approach. “LCM has enjoyed a phenomenal year, but this is only the beginning and we’ve much more on the horizon to announce”. The re-brand marks the next stage in the company’s development, with its products currently being trialled in the market, while next-stage growth plans are underway to develop and scale carbon-negative materials for the wider built environment. As part of its expansion plans, LCM is quadrupling the size of its HQ, with a move to Jade Business Park, County Durham. The site will include a state-of-the-art R&D facility and production centre to support the scaling and development of new products. LCM has also tripled its workforce in less than a year with plans to expand it further into 2023 and beyond. For more information, visit https://www.lowcarbonmaterials.com *’Making Concrete Change: Innovation in Low-carbon Cement and Concrete’ Chatham House Report, 2018.
The importance of understanding the revised Code of Practice for Category 3 Control fire performance cables which reduce harmful smoke, toxic gases and flame spread in the event of a real fire cannot be stressed enough. These cables maintain the circuit integrity of a building – providing power for essential services and fire-fighting systems – for fire and rescue services to carry out a safe evacuation in the case of life safety. AEI Cables has won widespread support for our initiative highlighting the need for only using approved cabling for the range of critical applications of Category 3 Control fire performance cables. Sharon Hodgson, Labour MP for Washington and Sunderland West, is supporting the initiative while other industry organisations have also expressed support including Electrical Safety First and national fire safety membership body The Institution of Fire Prevention Officers (IFPO). The applications of Category 3 Control fire performance cables apply to evacuation alarms for the disabled in care homes, emergency voice communications systems and voice alarm systems in relevant buildings including tall buildings, office spaces, hospitals, shopping malls and stadia. Circuit integrity The revised Code of Practice for Category 3 Control fire performance cables under BS 8519: 2020 – which covers how to select and install fire-resistant power and control cable systems – makes various amendments and requires a full understanding for those in the supply chain. The standard clearly references and clarifies the products and levels of performance that should be used. The new Code is intended to inform and guide designers, contractors, fire engineers, regulators and enforcers including building control bodies, fire authorities, Health and Safety inspectors and equipment suppliers and manufacturers. It is worth examining the standard itself. Indeed, BS 8519:2020 makes reference to the recommendations of BS 9999and BS 9991, with regard to the design and installation of the electrical distribution systems for life safety and fire-fighting equipment. It also makes reference to three categories of circuits required to maintain their circuit integrity under defined fire conditions for varying fire survival times of 30 minutes, 60 minutes and 120 minutes. Appropriate cable tests are identified for each cable category derived from applicable British Standards, assessing cable performance under conditions of fire as might be expected in an a real fire incident. Critical systems BS 8519:2020 also aims to ensure that the level of circuit fire integrity is not compromised by other components of the whole electrical distribution system, including cable glands, terminations, joints and cable support systems. The revised standard supersedes BS 8519:2010 and includes added recognition of other critical systems, other than life safety or fire-fighting applications; added information on uninterruptable power supplies and further detailed recommendations for the design and selection of the cable enclosure support systems. There are also recommendations for internal and external fire stopping to maintain the switch room fire compartmentation and the need to cater for the thermal expansion of the cable protective enclosure. It is primarily intended for use in buildings which, due to their size, height, form or use, require the installation of life safety and fire-fighting systems, for example sprinkler pumps, wet riser pumps, smoke control systems, fire-fighting and evacuation lifts or other systems as required by a fire engineering strategy. International standards AEI Cables’ Firetec Enhanced cabling has been approved and certified by LPCB to BS8519 (Annex B), Category 3 Control in addition to Category 2 Control.The BS Code of Practice under BS8519 contains six categories of cables, three for power cables and three for control cables each covering survival times of 30, 60 or 120 minutes. Using the very latest in technology and science, the Firetec Total Fire Solutions range offers Mineral Insulated Cabling (MIC), Firetec Enhanced fire performance cabling, accessories and technical support from the AEI Cables distribution facility at Washington, Tyne and Wear. All AEI Cables’ products are supplied with approvals from independent bodies including BASEC and LPCB. It also holds approvals from organisations including Lloyds, the MoD, Network Rail and LUL and works to international standards around the world. By incorporating this guidance into the selection of cabling for these critical systems, those people using these striking new buildings can move about safe in the knowledge that they are safe.
Construction of BREEAM excellent unit is situated at PLP’s newly acquired 17-acre development site at the well-established and successful Stone Business Park in Stafford Glencar, a leading UK construction company that was recently ranked amongst Europe’s fastest growing businesses, has today announced that it has been appointed by long term customer and specialist UK Logistics and industrial property business PLP to construct a 344,500 sq ft warehouse unit being developed speculatively on a 17-acre site at Stone Business Park in Stafford. The site situated on Brooms Lane will feature the redevelopment of a redundant and recently vacated data centre into a new, high specification logistics warehouse that will include over 20,000 sq ft of office accommodation. The development will also feature a separately accessed, secure service yard up to 67m deep, 300 car park spaces and the retention and enhancement of the existing landscaping belt around the perimeter of the site. Construction commenced at the beginning of September with completion scheduled for Q2 2023. To mark the start of work on site, a ground-breaking event took place on the 4th October, attended by representatives from PLP, Glencar and the wider project team. The scheme is being developed to achieve a BREEAM Excellent rating and, as with all PLP speculatively developed properties, adhere to the UK Green Building Councils Net Zero Buildings Framework. PLP’s carbon net zero (CNZ) framework combines CNZ construction with CNZ ready design, to enable future occupiers to achieve CNZ operation by utilising built-in renewable energy features and procuring appropriate renewable energy supplies. This includes the use of solar photovoltaics, air source heating and cooling, LED lighting and electric car charging points. Future flexibility is also built into the design, with features such as a strengthened roof to enable full coverage of solar photovoltaics and underground infrastructure to facilitate 100% of all car and HGV parking spaces to have electric charging points. The project is forecast to deliver a host of significant socio-economic benefits including over 100 additional jobs during the construction phase and over 500 new permanent jobs once the scheme is occupied. The completed and occupied scheme will also contribute additional GVA of £24.5 million annually to the local economy. Commenting on the appointment Glencar Managing Director Midlands and North Pete Goodman said: “We are absolutely delighted to once again be working for our long-standing and much valued customer PLP on this incredible new speculative development. This scheme represents the fifth project we have worked on together with PLP and is typical of the strong customer partnerships we place great emphasis on building.” The PLP building specification is market leading with a host of building innovations and carbon net zero features, designed to be ‘future flexible’ to enable future occupiers to benefit from their own renewable energy sources.” Located on Brooms Road, the site is extremely prominent and the gateway to the well-established and successful Stone Business Park. It is highly accessible by road with the A34 dual carriageway adjacent and Junction 14 of the M6 motorway located only 5 miles to the south and Junction 15 of the M6 only 9 miles to the north. The project team comprises of WSP as planning consultants, PHP Architects – Architects, Knight Webb – Project Managers and Hydrok – Engineers..
Pound’s Park in Sheffield city centre is quickly taking shape with the installation of a new children’s play area this month. Heralded as the flagship green space in Sheffield City Council’s Heart of the City development scheme, Pound’s Park will be located on the former fire station site between Rockingham Street, Wellington Street and Carver Street. The park will provide an attractive, safe and fully accessible destination that adds a mix of experiences for playing, relaxing and socialising. To help attract more families into the city centre and encourage them to stay for longer periods of time, a high-quality playground is located at the heart of the plans. It will feature two large pyramid towers – with the tallest standing at 11 metres, stainless steel slides, climbing structures, playhouses, seesaw, wheelchair-accessible play equipment and much, much more. A long water channel dotted with multiple dams and interactive play elements will also flow between the Pyramid Towers and across the site. The playground will offer fully inclusive play, with a sand-play platform for wheelchair users, accessible points for children to engage with the water pumps, and various touch and sound sensory items to be explored. Sympathetically designed to complement the city centre’s other key outdoor spaces, the playground is handcrafted predominantly using Mountain Larch – a durable wood that can withstand decades of harsh climates. Working alongside the Council’s landscape architects and Henry Boot Construction, Sheffield-based playground specialists, Timberplay, are carrying out the installation work throughout October. The family-run firm has over 20 years of experience, having installed the celebrated Princess Diana Memorial Playground in London, as well as local projects at Meadowhall Shopping Centre and Heeley People’s Park. Paul Collings, Owner and Managing Director of Timberplay, said: “Everyone at Timberplay is extremely proud to be involved in such a landmark project for Sheffield City Centre and one that is very important to us all, as a local company. It is amazing to see Sheffield City Council invest in creating such an incredible green space that uses high-quality, sustainable and natural materials throughout. “Working alongside the Council and Henry Boot Construction has been a pleasure from design through to the current installation. We would like to commend Sheffield City Council for their innovative thinking on reimagining our city centre in these rapidly changing times, with shopping habits and living choices in such a state of flux. We cannot wait to see the park open and see children having fun in what we believe will be a world-class facility for the people of Sheffield.” Pound’s Park will also boast an impressive three-by-eight-metre climbing boulder, which was installed earlier this year and continues the space’s emphasis on public play and interaction. Councillor Mazher Iqbal, Co-Chair Transport, Regeneration and Climate Policy Committee, Sheffield City Council, said: “We are continuing to develop truly unique and high-quality public and green spaces in the city centre, bringing The Outdoor City ethos right into the heart of Sheffield. “It’s exciting to see the large play park going up. We know how hugely popular the Peace Gardens are and Pound’s Park will provide us with another world class focal point for families to enjoy. It will also prioritise pedestrians and cyclists, increase biodiversity and help support the physical and mental wellbeing of city centre visitors, workers and residents.” Tony Shaw, Managing Director at Henry Boot Construction – the park’s overarching construction contractor, added: “With more people choosing to live and work in the city centre, we understand the importance that public spaces and green landscaping play in enhancing people’s experiences and wellbeing. This is especially true for families with young children. So, as a local company ourselves, it’s been great to work with Timberplay and see their exciting playground design come to life.” Named after Sheffield’s first Chief Fire Officer, Superintendent John Charles Pound, Pound’s Park is being funded by the South Yorkshire Mayoral Combined Authority through the Government’s Getting Building Fund. Work on the park is expected to complete early in 2023.
The launch of HS2’s giant tunnel boring machine, which set off on its five-mile journey from West Ruislip to Greenford on 6th October, has sparked new training and employment opportunities for residents in seven London boroughs. HS2’s construction partner, Skanska Costain STRABAG (SCS), is working in partnership with Danny Sullivan Group, Camden Council and TheForge@ParkRoyal (part of the Old Oak and Park Royal Development Corporation) to deliver a bespoke training and work placement programme especially for residents who live in Brent, Camden, Ealing, Hammersmith and Fulham, Hillingdon, Kensington and Chelsea and Westminster. The three-week training programme, delivered with West London College and United Colleges Group, starts on 24th October and will be followed by a four-week paid work placement, to enable candidates to get a feel for what it’s like to work in construction, and as part of the team operating the giant 2,000 tonne machines. During its construction programme SCS will launch five more tunnel boring machines, creating a total of 26 miles of tunnel beneath the capital, ready to transport HS2’s state of the art British-built bullet-style trains into the terminus station at Euston. Ambrose Quashie, HS2’s Skills Manager for Greater London said: “We’re teaming up with some brilliant partners, as we know they are well placed to ensure that local people, who are most in need, benefit from these unique training and employment opportunities on HS2.” “Tunnelling is a highly-skilled career for life, and this is a fantastic opportunity to join the team tasked with constructing some of the most challenging sections of the whole HS2 route.” The training programme will prepare candidates for their four-week paid work placement. They’ll gain the vital construction and health and safety accreditation they need to begin working alongside and learning from some of the most experienced engineers in the industry. Skanska Costain STRABAG contractor, Danny Sullivan Group, will be looking for standout candidates throughout the programme and will invest in providing tunnelling operative apprenticeships to those eager to earn, learn and progress into this specialist engineering role. Frankie Jones, Skills Employment and Education Manager at Skanska Costain STRABAG Joint Venture said: “HS2 is a project for future generations, and this extends to inspiring the next generation of the future stars in our industry. It is great to be able to offer a unique opportunity for people to get involved in tunnelling, whilst learning about our programme of construction and helping us construct the railway.” Camden Council and TheForge@ParkRoyal will play a vital role in supporting local residents who are out of work, and live in one for the seven qualifying boroughs, with their job applications. This forms part of an ongoing ‘job brokerage’ partnership with HS2, which is designed to ensure that local people benefit from the thousands of employment opportunities HS2’s construction is creating. Billy Seago, Manager at TheForge@ParkRoyal said: “We’re excited to join HS2, SCS and wider partners to deliver this important training opportunity. The training programme offers a fantastic opportunity for residents to gain skills to be an important part of a ground-breaking project like HS2, while also being paid.” “TheForge @ParkRoyal has already placed more than 150 west Londoners into training and employment and we encourage residents to consider this opportunity and get in touch with us to find out more.” For more information about the programme, contact Camden’s Council’s King’s Cross Construction Skills Centre or TheForge@ParkRoyal.
Global Student Accommodation (GSA), the global leader in student housing, and leading UK Design & Build construction company, McAleer & Rushe have celebrated the ‘topping out’ of student housing scheme St Crispin’s House, Norwich. The construction milestone signifies the installation of the final piece of the structure of the building. Originally a 1970’s office block, St Crispin’s House is an example of how buildings can be repurposed, refurbished, extended, and given a new lease of life. When it opens in time for the 2023/24 academic year, the property will be home to 684 students, who will benefit from on-site facilities including communal spaces, a gym, podcast studio, a multi-purpose event room and a combination of individual and joint study spaces to support them on their higher education journey. By retaining the existing structure, the impacts of the development process are significantly minimised. Benefits include the reduction in environmental impact, a reduced development timeframe and subsequently a reduced impact on the local community. Additional initiatives will be implemented to secure a rating of BREEAM Very Good and a Fitwel three-star accreditation, the highest level available for St Crispin’s House. This includes 75% of the total roof level designed as a green roof, the installation of air-source heat pumps, and all electric heating. This approach is embraced by Yugo, GSA’s global operating partner, who are committed to delivering incredible experiences for students, supported by three core pillars — YugoEco, YuPro, and YuGrow. This includes identifying opportunities to cut carbon, reduce water use, purchase energy from renewable resources, and implement data measurement systems. Norwich’s leading universities, the University of East Anglia, and Norwich University of the Arts, attract 17,000 students combine, but 63% of full-time students are currently unable to access university or purpose-built student accommodation in the city. St Crispin’s House will contribute to reducing this shortfall and respond to the evolving needs and expectations of today’s students. Commenting on the milestone, Doug Barton, Development Manager at GSA said: “I would like to thank everyone at McAleer & Rushe and the wider construction team who have helped us to reach this fantastic milestone at St Crispin’s House. It’s testament to the expertise and our working relationship that we are another step closer to delivering much needed student housing for Norwich. I look forward to continuing to work closely with the team as we target completion in July 2023.” Commenting on the ceremony, Mark Elliott, Contracts Director at McAleer & Rushe said: “We are delighted to have reached the topping out milestone in the sustainable redevelopment of St Crispin’s House, which once complete, will provide market-leading student residences in the heart of Norwich. I would like to take this opportunity to thank the entire construction team for their hard work and our client Global Student Accommodation for their open and collaborative approach. We look forward to continuing our engagement partnerships within the local community as we continue with construction which is targeted to complete in July 2023.” Simon Griffiths, Regional Director UK and Ireland at Yugo added: “We are thrilled to see St. Crispin’s House heading into the final phase of construction. Once finished, this building and its outstanding amenities will be a hub for students to live, learn and grow during their university years. We are eager to open the doors to Yugo’s first living space in Norwich before the start of the 2023/24 academic year and partner with the universities here to provide the much-needed additional spaces for students to live their best life.”. Throughout the construction of St Crispin’s House, GSA and McAleer & Rushe are proud to support two important charities. The Lighthouse Club, which supports construction workers and their families, providing them with emotional, physical and financial wellbeing. And The Feed, a social enterprise with a mission to motivate change in people to prevent poverty, hunger and homelessness in Norwich. The businesses were delighted that The Feed was able to host the ‘topping out’ reception at their café at Waterloo Park.
nvesting in commercial real estate can be a life-changing experience. Not only do you get the chance to build up capital, but you also get to learn about an industry that’s vital to economics. If you’re interested in this lucrative real estate sector, there are a few things you should know first. How to Break Into Commercial Real Estate Investing Successfully Whether you’re a real estate pro or a newbie, breaking into commercial real estate investing successfully requires a lot of research, skill, and practice. Use the following tips to get started. 1. Keep Detailed Records Preparation is key when it comes to commercial real estate, but many developers fail to spend enough time in the pre-investment stage. If you want to make better decisions, mitigate risks, and improve your operational efficiency, you need to invest in comprehensive project visibility. One great way to do this is through commercial real estate historical data, which can be stored and tracked with software. For example, Northspyre can empower real estate development teams to achieve predictable project outcomes by leveraging automation and data analytics. 2. Research Your Market One of the 5 rules for buying commercial real estate is “know what you’re looking for.” In this industry, knowledge is power. If you don’t know what a downtown New York office building should cost, you could overpay, lose the deal, or neglect to perform the correct inspections. All markets, no matter how big or small, come with their own expectations and rules. Your investment strategy is mostly determined by your cash flow, free time, and location. It’s a great idea to pick a niche prior to investing, and there are plenty available. If you want to stick to commercial office buildings in Phoenix, Arizona, then become aware of their zoning laws and inspection rules. Know your market inside and out before you ever write an offer letter. 3. Know How to Underwrite Underwriting in commercial real estate is essential, as it provides a financial projection of your property’s potential cash flow. By calculating factors such as financing terms, expense growth, and capital expenditures, you can determine if a building or development will turn a profit. While you can hire a professional to underwrite your investments for you, you’ll be paying at least $3,000 for this skill, and the process may take over a day. You can cut your time and costs significantly by learning to do this yourself, which allows you to invest faster and smarter. 4. Hire an Experienced Team Commercial real estate investors will have a hard time succeeding without a great team. A commercial real estate broker, for example, is an expert who can help vet a property and negotiate contracts. Oftentimes, the buyer/seller will pay the broker’s fee, not the investor. It’s important to ask the broker before assuming they’ll let you use their experience for free. Even if your broker charges a fee, it’s still cheaper to use their expertise in your strategy. But brokers aren’t the only real estate professionals you’ll need. You’ll need a real estate attorney, building inspectors, general contractors, project managers, property managers, and property lenders. Make sure these professionals are experienced in commercial real estate. 5. Consider Financing Upfront A commercial real estate loan is similar to a mortgage, except it’s used strictly for business purposes. Commercial loans usually have a 5 to 20-year amortization period and have a loan-to-value ratio of 65% to 80%. Your credit score determines how much interest you’ll pay. If you’ve never applied for a commercial loan in the past, know that you’ll be subjected to long wait periods and a lot of paperwork. You should familiarize yourself with the process, so you can use your loans as quickly as possible. Get your loans pre-approved to lock in the interest rate.