Projects starting on-site show slight increase on back of office and industrial upticks Today, Glenigan | Powered by Hubexo, one of the construction industry’s leading insight experts, releases the December 2025 edition of its Construction Index. The Index reviews the three months to the end of November 2025, focusing on underlying projects with a total value of £100 million or less (unless otherwise stated). All figures are seasonally adjusted. It’s a report which provides a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the last 12 months. The December Construction Index indicates that whilst the sector is by no means out of the woods yet, there’s fresh hope for recovery with a modest 3% project-start increase registered in the three months to November. However, a sudden burst of activity, largely supported by spikes in office and industrial starts was not enough to prevent performance dipping 4% below 2024 levels. This shows that whilst the signs are encouraging, there’s plenty of lost ground to be made up after a tawdry year punctuated with dramatic episodes of policy confusion and ongoing economic turbulence. Many will be hoping that the eventual clarity delivered in last month’s Budget will solidify the Government’s intent, outlined initially during the Spring/Summer Spending Review, crystallising into a flurry of renewed activity across most, if not all, verticals. According to Glenigan’s Economics Director, Allan Wilen, “Whilst performance was generally weak in most areas of the construction industry, the decline was less severe than we’ve seen in other months, with three standout verticals: offices, industrial, and social housing pushing the overall sector back into positive figures during the Index period. Yes, these levels are lower than last year, but given the backdrop of volatile global markets, wild political speculation and policy false starts, the situation could’ve been a lot worse. He continues, “The Chancellor’s recent statement will have gone some way to reassuring contractors and subcontractors that the Government remains committed to the various capital projects and upgrades it promised earlier in the year. There will be industry-wide fingers-crossed that this materialises into concrete funding so shovels can be committed to the ground in earnest. All this going to plan will bear out the predictions we made last month in our Autumn Forecast, which indicates growth returning to UK construction in 2026 and 2027.” Taking a closer look at the results… Sector Analysis – Residential The Residential sector was a mixed bag, with plummeting activity in the private sector, offset by an impressive growth-spurt in social housing activity. Overall performance declined by 6% compared to the preceding three months and by 18% compared to 2024 figures, dragged down by private housing construction, dropping by 16% during the Index period and by 26% against the previous year. As above, Social Housing cushioned the comparative fall, rising 28% compared to the preceding three months to finish 11% up on the previous year. Sector Analysis – Non-Residential Similar to recent Indexes, office starts were the standout performer, experiencing yet another relatively strong period, rising by 56% compared to the preceding three months and 147% above the previous year. Much of this upsurge can be attributed to the commencement of major projects including the £85.9 million One Hanover Street office development for The Crown Estate in Mayfair, London, as well as various other smaller schemes. Likewise, the industrial sector also performed well, rising by a third (+33%) compared to the preceding three months, finishing almost two-thirds higher (+60%) than the previous year. Community and amenity project starts increased by 8% compared to the preceding three months, but posted a modest decline of 2% against the previous year.  Civils work starting on-site increased by 4% against the preceding three months but declined by 1% against the previous year. Infrastructure work starting on-site increased 12% compared to the preceding three months and increased by 3% on the previous year. These positive figures were tempered by a dip in utilities activity where starts declined by 5% against the preceding three months and the previous year. Elsewhere, activity stagnation and decline were consistent. Hotel & Leisure fared worst, recording a 28% drop compared to the preceding three months, and 39% down against the previous year. The Health sector remained flat against the preceding three months, standing 24% lower than the previous year. Retail also declined 11% against the preceding three months, standing 22% lower than 2024 levels and Education experienced a poor period too, falling 4% against the preceding three months and declining 13% against the previous year. Regional Outlook Starts soared across the capital, experiencing the strongest performance of any region, rocketing by 77% compared to the preceding three months to stand 56% up against the previous year. The South West also performed well, rising by 15% against the preceding three months to stand 8% up on 2024 levels. The North East experienced a mixed performance, declining a mere 2% against the preceding three months but finishing an impressive 72% up against the previous year. Conversely, the West Midlands experienced a poor period, declining 13% against the preceding three months and falling 9% compared to last year. The South East performed poorly, posting an 11% decline against the preceding three months to stand 19% down against the previous year. The North West fared even worse, declining 17% against the preceding three months, resulting in a 24% drop against the previous year. Find out more about Glenigan here: www.glenigan.com Building, Design & Construction Magazine | The Choice of Industry Professionals

VIVID, one of the UK’s leading housing associations, has announced it has secured £100 million in funding from NatWest as part of the bank’s £500 million social loan fund, designed to accelerate the delivery of homes for social rent across the country. VIVID is the first to draw down funds from this. This first-of-its-kind initiative by NatWest aims to tackle the UK’s housing crisis by providing ringfenced lending exclusively for the construction of social rent homes. The facility offers discounted interest margins and no arrangement fees, enabling housing associations to save millions in finance costs and reinvest those savings into building and improving homes for those who need them most. With over 1.3 million households currently on social housing waiting lists and living without the security of a stable home, this funding represents a significant step toward addressing the urgent need for affordable housing. This funding will make a real difference – helping to ease the shortage of social homes, support vibrant local communities, and give VIVID the flexibility to keep building where it matters most. It will go towards building an additional 450 new social rent homes for more customers and comes with a 10-year loan term, providing stability for long-term investment. Social rents are significantly lower than private rents, making them far more affordable for our customers. In our operating areas, they’re typically 50–60% cheaper than an equivalent private rental. This means we can provide a secure home for around 970 people currently on Local Authority housing lists.  David Ball, Chief Financial Officer at VIVID, said: “NatWest’s new social rent linked loan product gives housing associations the financial flexibility to build more homes at social rent levels. The overall rate discount being offered is an innovative step change that shows NatWest’s commitment to supporting the Government’s Social Rent led agenda.” Paul Eyre, NatWest Group Head of Residential and Housing Finance, said: “This agreement has been made possible through NatWest’s dedicated social loan fund which has been ringfenced entirely for the building of social rent housing across the UK. It’s part of our ambition to lend £7.5 billion to the social housing sector before the end of 2026.  It’s the latest loan agreement between NatWest and VIVID following a separate £125million investment earlier this year, and we’re delighted to continue supporting them in their goals of addressing a housing shortage in the South of England by building almost 900 affordable and sustainable homes, making a big difference for the communities they serve.”  Forhad Ahmed, Senior Associate, Real Estate Finance Security at Trowers & Hamlins LLP, said: “We are delighted to have advised VIVID on securing £100 million from NatWest as part of their landmark £500 million social loan facility. This first-of-its-kind initiative demonstrates innovative financing in the social housing sector and will enable VIVID to deliver much-needed affordable homes across the country.” Anna Clark, Legal Director for Bevan Brittan LLP, said: ““We are so pleased to have once again supported VIVID in completing another landmark loan facility to further assist with the delivery of much needed social housing. “ The £500 million fund forms part of NatWest’s wider £7.5 billion lending ambition to the social housing sector by the end of 2026, reinforcing its commitment to supporting sustainable housing solutions. Building, Design & Construction Magazine | The Choice of Industry Professionals

By Mark Hall-Digweed, Partner, Carter Jonas (Infrastructure) Introduction Yesterday’s Budget was billed as a defining moment for economic growth. On first impressions, it appears to have been a constructive day for infrastructure. There were ample mentions of infrastructure in the Budget Report – no fewer than 76 uses of the word ‘infrastructure’ in fact. Much of it was retrospective but there were several positives too. Heathrow runwayTuesday’s pre-Budget support for the extended Heathrow runway was perhaps the most significant announcement from my point of view. But while aviation capacity matters, so too do the fundamentals that affect every household, along with the need for every household to be serviced by transport and utilities. Electricity networks in many areas are already at their limits, and developers are struggling to secure timely connections for new communities. Sewerage systems are under strain too, and strategic water infrastructure has not kept pace with population growth. The same applies to the national energy system. Significant upgrades are needed to the transfer of power across the country. While the Great Grid upgrade starts to address the challenge of moving wind generated power from offshore, and moving coastal nuclear power inland, local distribution will require concurrent activity by DNOs.  Many renewable energy systems suit localised consumption, but storage technology is the conundrum that the government has the key to unlock.  Yesterday’s R&D budget could play an important role in driving innovation in this area. Setting out support for Heathrow ahead of addressing these essentials feels like an unusual sequencing choice. Small Modular Reactors (SMRs)The government has published an updated Green Financing Framework, adding nuclear energy to the list of eligible expenditures for green financing (with some exclusions). This goes some way to support the role of nuclear energy as a green energy superpower and is welcome, as is the decision to place the next generation of nuclear technology at Rolls-Royce in Derby. Continued funding for SMR development is welcome. Nuclear is central to a resilient energy mix. But until there is a commitment to the strategic grid upgrades required to move power from a likely SMR site on the coast to homes and businesses across the country, the impact will remain limited. New towns We had hoped for more commitment to the funding of new towns in this Budget. New towns need a commitment to infrastructure from day one, and this appeared to be an omission. Overall, the New Towns Taskforce estimates that its recommended locations could contribute at least 300,000 new homes in the coming years, but they will not be delivered successfully without the utilities, transport links or energy capacity needed to support them. Landfill Tax The Budget states that the government will not converge the two rates of Landfill Tax, as consulted on earlier this year, recognising that the proposed changes imposed costs on businesses and could potentially undermine the government’s housing targets. Instead, the government has committed to preventing the gap between the two rates of Landfill Tax from getting any wider over the coming years and will retain the tax exemption for backfilling quarries to ensure that housebuilders and the construction sector continue to have access to a low-cost alternative to landfill. This is good news for both new towns and development more generally, as if the current landfill tax is expanded to include soil removed from sites, the cost of delivery of everything from a pipeline to a housing estate will rise significantly. Depoliticising infrastructure This government staked much of its early political capital on making the case that simplifying infrastructure delivery and attracting investment into schemes would underpin economic growth. Infrastructure remains one of the strongest levers available to drive that growth, as the Chancellor appeared to agree in her introduction to the Budget. But there is a risk that the political capital spent so far has not been enough. Developers and investors alike want the government to go further and faster, particularly in planning reform and strategic delivery. The devolution of £13bn in flexible funding for seven mayors across England is a step in the right direction, but more will be needed to unlock delivery at scale. Using the Budget to reinforce that ambition could have been the moment that puts major projects on the faster track they need but unfortunately this hasn’t been realised. Conclusion Although politics and infrastructure operate across different timeframes, yesterday’s Budget included positives for energy, transport and utilities. In this respect, the Chancellor has reaffirmed her commitment to growth through the built environment, and our sector should feel more confident in its ability to respond. Building, Design & Construction Magazine | The Choice of Industry Professionals

Construction intelligence specialists predict renewed activity following false-start over the summer. Today, Glenigan | powered by Hubexo, one of the construction industry’s leading insight and intelligence experts, releases its widely anticipated UK Construction Industry Autumn Forecast 2026-2027. Predominantly focused on underlying starts (<£100m in value), unless otherwise stated, it contains a comprehensive overview of the future of the construction industry. The key takeaway from the Autumn Forecast, which focuses on the two years 2026-2027, is that, despite the aggressive geopolitical and socioeconomic headwinds which have picked up during Q.3 and Q.4 this year, the sector is still on course for recovery in 2026 and 2027. A Show of Strength Growth has been re-forecast. Following a period of international turbulence and domestic uncertainty, 2025 and 2026 figures have been revised down, with the former now in negative numbers (-6%) and the latter adjusted down a couple of percent since the spring (+8%). However, these relatively disappointing results are offset by predictions for 2027, where Glenigan’s Economic Unit foresee a 13% activity boost. Whilst the industry will be frustrated that a reversal of fortune will not come as quickly as thought back in May/June 2025, there will be a collective sigh of relief that the negative impact of international conflict, trade wars and policy speculation has not done more damage. Overall, the UK construction sector has done well to weather what has become a persistent storm, punctuated by aggressive peaks and troughs in activity, and is positioning itself to kickstart activity following next week’s Budget. Positive signals are making themselves heard within a variety of different quarters, with certain ‘verticals to watch’ emerging from amongst the present gloom. An atmosphere of anticipation The Glenigan Economics Unit foresees a rise in both private and public sector starts, with residential construction returning to positive figures after a blip over the summer and autumn of 2025. Likewise, the golden period experienced within the commercial office space over Q.3 and Q.4 is likely to continue into next year as more refurbishment work comes online. Equally, as consumer confidence (hopefully) resurges following the Chancellor’s upcoming Budget, we’ll see an uptick in discretionary spending, catalysing a boost for industrial projects as online shopping increases and more logistics and warehouse facilities are required. Hotel & leisure will also likely benefit as improved confidence and a rise in disposable income boosts consumers’ discretionary spending. In the public space, the Government will be hoping to kickstart a number of capital projects, especially around renewables, as well as deliver on its social housing commitments and promised increases in funding for health and education. More broadly, a renewed commitment to delivering Net Zero across state-owned assets by 2050 will present ample opportunity for contractors and subcontractors to seize on. Accordingly, Glenigan’s Economic Director, Allan Wilen says, “As with any Forecasts, it’s difficult to foresee unpredicted and spontaneous political and economic issues until they suddenly land, often completely changing the situation. The ‘will they/won’t they’ attitude that the professional and consumer landscape has taken towards trailed Government policy has done nothing to inspire confidence in the latter part of 2025. This is borne out by the dramatic performance decreases we’ve seen across our own Indexes since the summer, dashing any hopes of recovery by the end of this year. “However, the Chancellor has a real opportunity within this Budget to rebalance the situation and ensure that a kick-start into 2026 is not the false start we witnessed in the Spring of this year. There are some very encouraging signs already across different verticals and it will be up to the industry to take advantage of them and, in some cases, that might mean diversifying to meet more niche demands around low-carbon construction and commercial fit-out or even different building approaches and services; for example, addressing the changing needs of an ageing population. So, whilst we’re experiencing short-term struggles, we’re still confident of a brighter long-term picture.” **** Taking a more detailed look at the Forecast… Private Residential: Housing Market Holds Firm Following a very positive outlook predicted in June, figures have been reassessed, following a softening in market confidence and a drop in property transactions during Q.2/Q.3 2025. The initial rise in private housing starts during the first four months of 2025 proved short-lived. Following April’s stamp duty increase, starts fell back during the second half of the year. Apartment projects were especially weak as slow building safety regulator (BSR) approval delayed project starts. However, despite these setbacks, housing market activity has been broadly stable during the second half of the year. This has been supported by rising household incomes, with the number of mortgage approvals for house purchases close to their pre-pandemic average. The outlook remains positive. Stronger economic growth is expected to lift housing market activity over the next two years. Rising real incomes and further interest rate cuts are expected to lift house-buyers’ confidence from 2026. Furthermore, supply-side restraints are also expected to ease as the BSR reduces the backlog of projects awaiting approval, and planning reforms are expected to help release additional sites for development, supporting sector growth during the latter stages of the forecast. Private Non-Residential Verticals: A wealth of opportunity awaits Renewed growth is anticipated in 2026 and 2027, despite many verticals slipping back during 2025. Whilst the industrial sector suffered from a drop in manufacturing projects, this was offset by a spurt in warehousing starts. This growth neatly anticipates higher consumer spending and sustainable increases for this type of project. This, in turn, will likely see further demand for logistics and light industrial space from online retailers and third-party carriers. However, bricks and mortar retail will be slower to recover as operators face increased cost pressures from NI increases and the rise in the minimum wage. An overhang of empty retail premises is also deterring investment in new premises. Although, in the spirit of adapting to survive, this situation may also prompt landlords to refresh and repurpose existing excess retail space. As ever, supermarkets remain a

Latest loan brings combined total financing commitments to £1.1 billion Eldridge Real Estate Credit, the real estate investing strategy of Eldridge Capital Management, and Vita Group, a leading UK and European developer and operator of premium student and residential co-living brands, today announced the continued expansion of their long-standing partnership. This marks their tenth transaction, with a combined total of £1.1 billion in financing commitments. Since 2020, Eldridge and Vita Group have partnered on ten developments across purpose-built student accommodation (“PBSA”) and co-living, delivering more than 7,500 beds across the UK and Spain. The partnership has helped scale Vita’s investment-grade living platform, which unites development, operations, and brand to deliver high-quality, service-led assets across Europe’s key cities. Each brand within the Group responds to a different stage of modern urban life, together meeting the growing demand for high-quality, experience-driven living. Eldridge Real Estate Credit focuses on investing in opportunities throughout the US, UK, and Europe, including term, construction, transitional, and special situation opportunities across the capital structure. The platform has originated over $10 billion in loans, leveraging an experienced team with a disciplined approach seeking to create long-term value. “Over the past five years, our partnership with Vita has been a testament to our shared vision and commitment to long-term success,” said Graham Keable, Managing Director at Eldridge Capital Management. “This tenth transaction together not only underscores Vita’s proven expertise in the space, but also reinforces our confidence in the continued growth and resilience of the UK and European living sector.” “The developments we’ve delivered together have consistently outperformed benchmarks, validating the strength of our model across student and co-living assets,” said Max Bielby, Chief Operating Officer at Vita Group Our relationship is a powerful example of how long-term financing partnerships, combined with our integrated approach to design, development, and operation, address a clear market need and deliver sustainable value.” Backed by ongoing undersupply and continued strong international student demand, Eldridge and Vita have delivered high-quality PBSA assets in a high-growth market. The teams believe their partnership demonstrates best-in-class execution, combining stable returns and robust downside protection underpinned by resilient credit structuring. The latest transaction is a £146.1 million senior development loan for Vita Student First Street, an 861-bed PBSA scheme in Manchester’s First Street regeneration area. Construction is already underway following Building Safety Act approval, with completion targeted for June 2028 ahead of the 2028/29 academic year. The 170,000 sq ft development expands Vita Student’s presence in Manchester, where its existing developments maintain occupancy rates of 95 to 99 percent. “We are delighted to complete this plot sale to Vita which will continue the delivery of the First Street masterplan at this strategic gateway into the city,” said John Hughes, Managing Director at Ask Real Estate, the landowner and developer of the First Street Estate. Now one of Manchester’s most vibrant neighbourhoods, this latest Vita development will further add to the exciting mix of businesses and residents already located at First Street, all of which are supported by a rich blend of amenities and facilities.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Kier has begun its new financial year on a strong footing, with trading in line with expectations and its order book rising by £600m to £11.6bn. New chief executive Stuart Togwell (pictured), who formally stepped into the role this month, said he was starting his tenure with 94% of this year’s revenue already secured – a position he described as among the strongest in the sector. Togwell said he was excited to steer the business into its next phase of growth after what he called a robust start to FY26. The increased workload follows a series of major contract wins. These include Norfolk County Council’s highways and infrastructure deal, worth up to £700m over as long as 14 years, seven lots on the Crown Commercial Service’s Transport Technology Framework, and a £205m reservoir improvement contract for United Utilities under AMP8. In its construction division, Kier has secured four education schemes with a combined value of about £190m, along with £116m of new prison expansion work at HMP Lancaster Farms through the Ministry of Justice’s Small Secure Houseblocks Alliance. The property business is also active, having obtained planning permission for a 452,000 sq ft logistics development in Andover and begun work on the pre-let Riverwell Town Square project in Watford, where tenants include Travelodge, Tesco and Greggs. Kier has further bolstered its financial position with a new £190m revolving credit facility running to 2030, which it said reflects lenders’ confidence in the group’s long-term outlook. The company added that strong cash generation remains on track and that, as in previous years, its performance is expected to be weighted towards the second half. Building, Design & Construction Magazine | The Choice of Industry Professionals

Network Rail has launched Platform4, a new property development company tasked with transforming brownfield rail land into homes, commercial space and new communities across the UK. Formed through the merger of London & Continental Railways Ltd and Network Rail’s Property Development business, Platform4 will lead infrastructure-led regeneration projects designed to boost economic growth, create jobs, and support the Government’s housing targets. Over the next ten years, Platform4 aims to deliver 40,000 new homes and more than 10 million square feet of commercial space, while generating £1 billion in public value annually. The company’s work will span 47 towns and cities and 22 London boroughs, focusing on transforming underused railway land — from major stations and goods yards to station forecourts — into vibrant, sustainable communities. The launch represents a major step forward in how the rail estate is managed, integrating property, infrastructure, and operational rail expertise to unlock land for development and regeneration. Both of the newly combined development teams have a strong track record, having delivered over 7,000 homes in the past year. Platform4’s approach will build on this success, driving investment while supporting Network Rail’s commitment to sustainability and community benefit. Platform4’s creation adds to Network Rail’s established property operations, which include a retail estate generating over £914 million in sales last financial year across 19 managed stations. Through its national programme, Platform4 will enable: The initiative underscores Network Rail’s ambition to make better use of rail-connected land, supporting regeneration and economic development while helping towns and cities across Eastern, North West & Central, Southern, and Wales & Western regions to grow. Building, Design & Construction Magazine | The Choice of Industry Professionals

John Sisk & Son (Sisk) has completed all legal and regulatory requirement for the acquisition of Farrans Construction, following Competition and Consumer Protection Commission (CCPC) approval last month. As announced in September, Sisk reached an agreement to acquire Farrans, a leading Northern Ireland based, building and civil engineering contractor, with over 600 employees, delivering world-class projects in core sectors including aviation, water and renewable energy in Ireland and the UK.  The Farrans business will continue to trade under its own brand, and all project operations will continue as normal. The consideration will not be disclosed.Sisk is Ireland’s largest construction and civil engineering company, operating across Ireland, the UK and Europe.  The coming together of these two successful contracting businesses will unlock new opportunities for delivering major infrastructure projects across the UK and Ireland. Sisk acquired Farrans from the building materials provider CRH. Building, Design & Construction Magazine | The Choice of Industry Professionals

Two major regeneration projects worth £25 million have been approved for Moston, marking the next phase of a long-term £90 million investment programme designed to revitalise the neighbourhood, deliver new homes, and create a vibrant public square. The investment forms part of Manchester City Council’s Neighbourhood Development Framework (NDF), launched in 2023, which sets out an ambitious vision to unlock Moston’s potential through improvements to housing, green spaces, infrastructure, and local amenities. So far, the multi-million-pound regeneration across Moston has delivered new social housing, pocket parks, road safety upgrades, alley-gating, and measures to tackle fly-tipping and environmental issues. Over the summer, enhancements were completed to three pocket parks on Moston Lane, alongside improvements to the Simpson Memorial Hall and Community Hub. More than £3 million in government grants has also supported the delivery of new social and affordable homes for local residents in recent years. One of the flagship projects under the NDF is the creation of a new public square on Moston Lane, designed as a focal point for the high street and a flexible community space for markets, events, and gatherings. The new square will include seating, lighting, trees, and planting, providing a welcoming green space in the heart of the neighbourhood. The Council has acquired several properties between Pym Street and Hartley Street, which will be cleared to make way for the development. As part of the regeneration, the Moston Superstore will relocate from its current site to the Kenyon Lane car park, with a planning application expected shortly. Replacement parking will be provided across several nearby locations, including spaces dedicated for supermarket users. Plans for the site also include around 80 new homes, made up of apartments and townhouses, including social and genuinely affordable housing. Ground floor areas will offer retail, commercial, health, and community facilities, supporting a more vibrant and sustainable high street. The Council has now started the developer disposal process for the site, with a planning application to follow after community consultation. A second regeneration site, between Watermans Close and Ebsworth Street, is also being brought forward through the same process. The location has been identified for 30 to 40 new family homes, addressing local demand for larger properties and incorporating new green space. The successful developer for both sites is expected to be appointed by March 2026, with community consultation and planning submissions to follow. To ensure local input into the regeneration, the Council is establishing the Moston Regeneration Partnership, a new advisory group chaired by Cllr Paula Appleby. The group will work with residents, businesses, and the appointed developer to guide design decisions and help shape future investment priorities for Moston Lane. Together, these initiatives mark a major milestone in Moston’s transformation — delivering new homes, community spaces, and economic opportunities that will benefit local people for generations to come. Building, Design & Construction Magazine | The Choice of Industry Professionals

Helical plc has reported a period of significant progress across its development portfolio, with several landmark London projects advancing towards completion and strong market trends supporting its investment strategy. The company issued its latest trading update for the period from 1 April to 16 October 2025, ahead of its half-year results due on 26 November. Chief executive Matthew Bonning-Snook said the past six months had been defined by “significant activity” across Helical’s development pipeline, with construction well underway on three major office projects — 100 New Bridge Street, Brettenham House, and 10 King William Street — all scheduled for delivery in 2026. Helical is also making headway on future schemes, including enabling works at Paddington ahead of the formal site acquisition in January 2026 and further design development at Southwark, where a purpose-built student accommodation (PBSA) project is planned. Terms have been agreed with Places for London to forward fund the PBSA element and with the London Borough of Southwark for the acquisition of the affordable housing block, with legal completion expected in the coming weeks. The company remains confident in the outlook for the London office market. With 465,000 sq ft of new, best-in-class office space due to complete in 2026, Helical expects strong occupational demand and limited supply to drive rental growth in prime central locations. Bonning-Snook added that improving investor sentiment towards the sector and renewed global capital interest should translate into higher transaction volumes, creating further opportunities to deliver shareholder value. Among Helical’s key developments, 100 New Bridge Street has reached a major milestone, with all external structural works now complete. The 194,500 sq ft redevelopment will serve as the new headquarters for State Street Corporation, with handover scheduled for April 2026. The £333 million forward sale (Helical share: £166.5 million) will conclude upon completion. At Brettenham House on London’s South Bank, the comprehensive refurbishment of the 128,000 sq ft landmark building is progressing well, with completion expected in summer 2026. The design introduces dual feature receptions, contemporary workspaces, and sweeping river views, blending modern functionality with historical architecture. Construction is also advancing rapidly at 10 King William Street, located above the new Bank station entrance. The eight-storey, 141,000 sq ft scheme is targeting completion in December 2026 and has already attracted encouraging pre-let interest from occupiers seeking high-quality, sustainable space in core City locations. Preparatory works are underway at Paddington, where Keltbray has begun enabling activity ahead of Mace’s appointment as main contractor. The 235,000 sq ft office development is targeting completion in the third quarter of 2028. Sustainability continues to sit at the heart of Helical’s strategy. The company retained its EPRA Gold status and achieved strong GRESB ratings, scoring 88/100 for standing investments and 94/100 for developments. It also secured BREEAM Outstanding design stage certifications for both 10 King William Street and Brettenham House, alongside WELL pre-certification and NABERS Design for Performance accreditation. Helical said these achievements underscore its commitment to delivering highly sustainable, best-in-class developments that combine design excellence with long-term environmental performance. Building, Design & Construction Magazine | The Choice of Industry Professionals