Europe’s €500 billion logistics real estate market faces a structural supply gap of more than €150 billion, according to a new Prologis Research white paper, Persistent Supply Constraints Position Europe For Value Growth. Regulatory hurdles, infrastructure bottlenecks, environmental requirements and political resistance are constraining new development across Europe. At the same time, demand for modern logistics space continues to grow, fuelled by e-commerce, supply chain resilience strategies and expanding urban populations. Meeting this demand is becoming increasingly difficult as barriers mount. Europe’s Modern Logistics Concentration (MLC) index, which tracks logistics space relative to households, stands at 30 compared with 75 in the U.S. Because Europe’s cities are denser and networks more efficient, a perfect comparison is misleading; a benchmark closer to 50 is more realistic – still implying a major shortfall. Eva van der Pluijm-Kok, vice president, Prologis Europe Research: “Even if Europe were to reach a more balanced level of logistics space, the shortfall would remain significant. At today’s pace of construction, closing the gap would take around eight years and require more than €150 billion of investment” Development in urban locations faces the greatest challenges, pushing logistics construction further from cities — even though demand is strongest in urban markets. This is reflected in performance, with facilities close to consumers yielding higher rental growth. “City” and “Last Touch” sites have delivered rent growth of 150 to 240 basis points above the European average over the past three years. Quality matters too, with modern facilities commanding around a 9% rent premium in markets where occupiers have a choice. While vacancy rates have risen, modern stock remains scarce. Supply of high-quality, well-located facilities is being kept close to frictional levels by structural barriers, and occupiers consistently prioritise sustainable modern buildings in prime corridors. This dynamic is already supporting rental growth and is likely to drive continued outperformance of modern assets over the long term. The Netherlands illustrates how these forces converge. Grid capacity there is among the most constrained in Europe, a national nitrogen crisis has limited permitting, and public opposition to warehouse expansion – often described as the “boxification” of the landscape – has intensified political resistance. As a result, construction volumes for logistics real estate are well below peak levels. Ben Bannatyne, President, Prologis Europe: “Scarcity in European logistics real estate is structural, not cyclical. For customers, access to modern, sustainable space in the right locations is more critical than ever. For investors, it reinforces the long-term value of well-located facilities, where scarcity continues to drive performance. At Prologis, our scale, strong networks and executional capabilities allow us to deliver where others struggle – ensuring durable, long-term returns for our stakeholders.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Lismore’s latest investor research indicates growing confidence in Scotland’s prime city centre retail and leisure markets, with both Glasgow and Edinburgh seeing renewed investor interest. Strong tenant demand, attractive entry yields and signs of rental growth are helping to re-establish the investment rationale for these markets. Vacancy levels on Buchanan Street in Glasgow and George Street in Edinburgh are virtually zero, while Princes Street in Edinburgh is below 10% and continuing to fall. This tightening supply is underpinning investor confidence, despite wider economic headwinds. Lismore’s quarterly investor sentiment survey highlights that 59% of respondents would consider investing in high street retail, with the strongest appetite among property companies (65%), followed by investment managers (56%). Funds remain more cautious, with only half expressing interest, often citing small lot sizes as a barrier. Across all groups, investors stressed that opportunities must be in prime micro-locations, particularly Scotland’s key high streets, where rebased rents and demonstrable demand create a compelling case. Secondary and tertiary towns remain largely out of favour. Expectations for prime high street yields over the next 12 months are broadly stable, with 55% of respondents predicting no change. A further 41% expect yields to harden, while only 3% anticipate any softening. Investor opinion is overwhelmingly in favour of mixed-use as the key to creating vibrant high streets in Scotland’s prime city centres, with 93% of respondents preferring it to pure retail/leisure. This view is consistent across all investor types, with 86% of property companies, 83% of funds and 90% of investment managers agreeing. Investors also warned that mixed-use schemes cannot succeed without addressing wider challenges, including parking charges, planning constraints, fragmented ownerships and poor shopping environments. Positive examples in Edinburgh and parts of Glasgow show how combining residential and well-occupied offices can help attract high-quality retailers and support leisure uses. Chris Thornton, Senior Associate at Lismore added: “We’re seeing renewed momentum in retail investment, as pricing becomes compelling relative to sectors like logistics. The future of high streets lies in making them true destinations, blending retail, leisure, hospitality and culture. Prime streets and dominant centres are already showing rental growth as retailers compete for the best space, but success remains highly location-specific and reliant on mixed-use strategies alongside public sector engagement. “Investor sentiment towards prime retail and leisure in Glasgow and Edinburgh is clearly improving, but selectivity remains key. With strong demand for the very best streets and rebased rents supporting early signs of growth, there are reasons for cautious optimism. The full Lismore Quarter 3 2025 Review, including Research Findings & Expert Views is available to download from: HERE Building, Design & Construction Magazine | The Choice of Industry Professionals

United Trust Bank (UTB) and Iron Bridge Finance are celebrating a substantial milestone in their 10 year relationship with the successful completion of a solution supporting a 42 unit development in North London taking the total number of new homes created through their collaboration to 558 and a combined GDV of over £213m. Since late 2015, UTB and Iron Bridge have jointly funded 17 developments, with UTB providing over £129m of senior debt and Iron Bridge providing £37m of mezzanine debt on a wide variety of residential and mixed-use developments and conversions. The 558 new homes created are located across England from Cambridgeshire and the Midlands down to the South Coast. Four further developments to be funded by UTB and Iron Bridge are also in the pipeline with a combined GDV of £90m and a further 212 units. The most recent jointly funded scheme was for the acquisition and eventual development of a redundant office building in North London with planning to convert the building to 42 new apartments and potential for an additional 18 units on two additional floors via airspace development. UTB is providing just over £7m of funding towards the acquisition, and Iron Bridge over £4m. The project has an estimated GDV of over £20m once enhanced planning has been obtained. Adam Bovingdon, Head of Property Development, United Trust Bank, commented: “We are delighted to celebrate this fantastic milestone with Iron Bridge Finance. Reaching 558 new homes with a GDV of over £213m financed together is a testament to the strength of our long-standing partnership. Since our first meeting with Lance, it was clear that he and the team shared our commitment to supporting ambitious housebuilders and developers. Over the last 10 years, our collaboration has consistently delivered innovative funding solutions that help bring much-needed homes and regeneration projects to life. Successful solutions like the one supporting this exciting North London scheme show just what can be achieved when two specialist lenders work together with a common goal – helping to create outstanding places for people to live. We look forward to many more successful years working together.” Lance Joseph, CEO of Iron Bridge Finance, commented: “This milestone means a great deal to all at Iron Bridge Finance. From my first conversations with Adam and the team at United Trust Bank, it was clear we shared the same vision – to back ambitious developers with innovative funding solutions and create real places for people to call home. Our partnership extends beyond funding, shown in our joint charity work supporting rough sleepers. Over the past 10 years, we’ve built not only a strong professional relationship but lasting friendships, enabling sites that might otherwise never have been delivered. With a strong pipeline ahead, supporting developers to create 212 new homes and with a GDV of £90m, we’re excited about what the next chapter with UTB will bring.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Global real estate advisor CBRE has been appointed to spearhead the operator selection process and development funding strategy to deliver Sunderland’s Crown Works Film Studios. The agent, renowned for its global expertise in large-scale commercial and regeneration projects, will act on behalf of Sunderland City Council to start immediate engagement with potential operators, investors and developers, managing new interest to deliver a studio at the site.  CBRE advised SKY on their partnership with Legal and General to deliver Sky Studios Elstree, a 12-sound-stage studio in Hertfordshire. CBRE will work to secure operators, partners and private investment needed to transform the 80-acre site on the banks of the River Wear into a 1.5 million sq ft, world-class film and TV production complex, with the aim of a developer breaking ground in the new year. The appointment of CBRE marks a significant milestone for the multi-million-pound development. CBRE will bring its global reach and sector expertise to identify and secure the best operator, while also advising on the structuring of the development funding strategy to ensure the successful delivery of the project. This supports the council’s wider ambitions to place Sunderland firmly on an international stage and, along with other major regeneration projects currently taking place, keep attracting inward investment into the city.   Councillor Michael Mordey, leader of Sunderland City Council, said: “Appointing CBRE is a pivotal and strategic step in securing the right investor and development partner to deliver this transformational scheme. Their global reach, experience and industry knowledge is highly impressive and we, and they, are very positive and determined that Crown Works Studios will be delivered but now with a new partner. Our ambition has not wavered, so we will keep pushing forward.” Planning permission is already in place for the first phase of Crown Works Studios, with outline consent for future phases, and this is supported by a public funding package worth £120 million secured from the UK Government, North East Mayor Kim McGuinness and the North East Combined Authority. Remediation of the site is currently underway, funded through an initial £25 million investment. North East Mayor Kim McGuinness commented: “We have made the creative industries a central part of our Growth Plan for the region, and this site has the potential to power an entire industry in our region, opening new opportunities for local people and building on our reputation as a prime location for major film and TV drama. With CBRE now on board, we are very much looking ahead and taking a major step towards turning this vision into a reality.” CBRE will now begin comprehensive market engagement to identify preferred operating and funding partners, it is anticipated, by autumn. The new selected partner(/s) will be responsible for delivering the first phase of the development and unlocking the full potential of the site. The project is expected to attract private sector interest, buoyed by the scale of public investment and the strength of demand for high-end film and TV production space, especially more recently as production in the North East region surges.  Figures from North East Screen show a 131per cent increase over three years in production spend in the region.  Alison Gwynn, Chief Executive of North East Screen, added: “We are witnessing a landmark moment for creative industries here in our region and Crown Works Studios will provide ground-breaking facilities and the infrastructure we need to build on our recent 131% growth in production. It will support a sustainable, thriving sector that is growing month on month, year on year right here in the North East.” Andy Byrne, Northern TMT Lead for CBRE, added: “CBRE is excited to bring this opportunity to the market. Sunderland City Council is at the forefront of regeneration in this region and have ambitious plans to see world-class film and TV production space brought forward to match the demand for purpose-built studio space. This scheme is set to be a catalyst for great things within the region.” For more information about the Crown Works Studios investment opportunity, please contact CBRE at Andrew Byrne, 07823 520 540 andrew.byrne@cbre.com Building, Design & Construction Magazine | The Choice of Industry Professionals

Structural warranty and surety bond specialist LBB has announced a selection of trading results for the 12 months to 30 June 2025, underscoring its continued growth and resilience in a challenging market environment. The past year has also seen a notable shift in deal profile. Sites with build costs of £10m–£25m increased by 25%, representing 6,664 units, while sites with build costs of £100m+ doubled, representing more than 13,000 units. The nature of the insured projects breaks down into 61% build-to-sell; 12% build-to-rent; 11.3% self-build; and 0.5% commercial. These results come against the backdrop of a housing market slowdown, heightened economic uncertainty, regulatory pressures from the Building Safety Regulator (BSR), and cost-conscious strategies from PLCs and large developers. Developers are also pivoting towards new areas such as conversions and build-to-rent schemes. Operationally, developers face added complexity, with requirements to secure three warranty quotes while often lacking the knowledge, time, or expertise to evaluate providers effectively. Many also struggle to supply the detailed information needed to obtain quotes. LBB has continued to grow by focusing on service and relationship excellence. As industry experts, the team bridges the gap between developers and warranty providers: Alex Lyons, Commercial Director, comments: “In an environment where developers face increasing pressures and shifting market conditions, our role has never been more vital. These results demonstrate the strength of our relationships, our deep market knowledge, and our ability to deliver value through clarity and service. With a pipeline of £33.5bn in construction costs, we are well positioned for continued growth in the year ahead.” “I am extremely proud of the excellent work that our team is doing. Every department has adapted and shown the meaning of true partnership with our clients—more and more of whom view LBB as an embedded part of their ongoing success. “We’ve laid the foundations for a busy 2025/26, with some notable appointments that we can’t wait to announce in the coming months.” London Belgravia Group, trading as LBB is an Appointed Representative of TEn Insurance Services Ltd t/a Eleven which is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 314593) Building, Design & Construction Magazine | The Choice of Industry Professionals

Midlands-based housing provider GSA is looking to sell its offsite housing manufacturing business, LoCaL Homes. The 25,000-home provider has announced plans to exit the Walsall-based business in line with its strategy to simplify and strengthen and focus on its core social landlord services. Mona Shah, Chief Finance and Investment Officer, said: “LoCaL Homes has made an important and innovative contribution to housebuilding in the UK, and our product has been used by housing providers on developments up and down the country – that is something to be proud of. However, the landscape has changed significantly and while it has been a difficult decision to exit, it is a necessary one. We have a strategic objective to simplify and strengthen our organisation to enable us to focus on our core offer and to realise our vision of being a great social landlord. “We are in active discussions with interested parties and remain hopeful of finding a buyer. However, having made the decision to exit LoCaL Homes, this cannot continue indefinitely and if we are unable to do so, we will close the factory in spring 2026. “We have informed all LoCaL Homes colleagues and customers and our focus in the coming weeks and months will be on supporting them as we continue our search for a buyer.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Microsoft will invest £11bn in new UK digital infrastructure, building additional data centres and the country’s largest supercomputer. The commitment forms half of a wider £22bn programme for 2025–2028, with the balance supporting ongoing UK operations. The plan targets rapid growth in AI capacity, with new hyperscale sites, larger GPU clusters and resilient power and cooling. For the construction and property sectors, it signals a multi-year pipeline of mission-critical projects demanding fast delivery, robust grid connections, sustainable design and stringent security. Microsoft president Brad Smith linked the decision to government moves on planning reform, electricity capacity and regulatory stability, arguing that clarity builds confidence for responsible AI investment. Prime minister Keir Starmer hailed the announcement as a vote of confidence in the UK’s technology leadership, highlighting the potential for highly skilled jobs and stronger national infrastructure. Site locations have not been disclosed, but selection is expected to hinge on substation proximity, fibre connectivity, water stewardship and opportunities to procure low-carbon power. Expect designs to face close scrutiny on energy efficiency, heat re-use, refrigerants, embodied carbon and circular fit-out. Beyond the sheds, the ripple effects typically include grid upgrades, logistics facilities and skills programmes, often clustering near universities and advanced manufacturing corridors. Delivery at pace will rely on experienced critical-environment contractors, modular plant strategies and rigorous commissioning. The supercomputer is strategically significant: sovereign AI compute improves performance, data governance and resilience for research, industry and public services. If planning reforms and grid upgrades translate into smooth delivery on the ground, the prize is substantial — a deeper skills base, a stronger platform for AI-enabled growth and a durable digital backbone for the next decade. Building, Design & Construction Magazine | The Choice of Industry Professionals

Global financial markets are navigating a complex landscape as we enter the final quarter of 2025. Investors are weighing optimism from strong corporate earnings and resilient consumer spending against caution stemming from inflationary pressures, central bank policy uncertainty, and ongoing geopolitical risks. These dynamics are creating both challenges and opportunities, particularly for traders who operate on short- to medium-term horizons, such as swing traders. U.S. Stocks Maintain Momentum U.S. stock markets have continued their upward trajectory over the past month, with the S&P 500, Nasdaq 100, and Dow Jones Industrial Average all posting solid gains. Technology and healthcare sectors have been at the forefront of this movement, buoyed by strong earnings reports, new product launches, and sustained innovation in artificial intelligence and biotech. Investor confidence has been further supported by indications that inflation may be moderating. While wage growth remains a concern, overall consumer prices have shown signs of slowing, giving markets some breathing room. The Federal Reserve has hinted at a more measured approach to interest rate adjustments in the coming months, which has reinforced optimism across equity markets. For swing traders, this environment presents several opportunities. Stocks showing strong short-term momentum, especially in sectors with recurring volatility such as technology, consumer discretionary, and healthcare, are ideal candidates for trades held from a few days to several weeks. Identifying reliable support and resistance levels can help traders time entries and exits effectively. Consumer Spending and Labor Market Trends Consumer spending remains a cornerstone of economic stability, despite the labor market showing signs of slower growth. Recent reports indicate that retail sales and discretionary spending have stayed relatively strong, driven in part by higher-income households and continued demand for services and technology. Banks have reported solid credit performance, with low delinquency rates on loans and credit cards, suggesting that household finances remain largely resilient. However, economists caution that slower job creation could gradually weigh on spending if the trend persists. For traders, sectors tied to consumer behavior, such as retail, travel, and leisure, often exhibit short-term patterns that can be exploited for swing trades. Monitoring weekly retail data, earnings announcements, and consumer confidence indicators can help identify windows of opportunity for trades based on predictable price swings. Global Markets Reflect Mixed Signals Markets in Asia and Europe have responded differently to global developments. In Asia, Japan’s Nikkei 225 and South Korea’s Kospi have experienced moderate gains, following the U.S. lead, despite geopolitical tensions in the Middle East. In Europe, political uncertainty and leadership transitions in several countries have contributed to cautious investor sentiment, keeping equity movements relatively muted. Commodities have also demonstrated volatility. Oil prices, for instance, have reacted to geopolitical developments, while gold continues to serve as a safe-haven asset for investors wary of inflation and market instability. Traders focused on swing trading can find opportunities in these markets by watching short-term trends in commodities alongside global equity movements. Strategic Takeaways for Traders For swing traders navigating the current market environment, flexibility and vigilance are crucial. Key considerations include: Markets in September 2025 are presenting opportunities for traders who can act decisively while remaining cautious. The combination of corporate strength, resilient consumer behavior, and macroeconomic uncertainty offers fertile ground for short- to medium-term trades. With disciplined analysis and a clear strategy, swing traders can navigate the current landscape successfully, balancing risk and reward in an environment defined by both opportunity and volatility. Swing Trade Setups for the Coming Week As markets continue to fluctuate in response to economic data and geopolitical developments, swing trade can look for opportunities in sectors showing clear short-term momentum. Here are three potential setups to consider: 1. Technology Sector Momentum PlaySeveral large-cap technology stocks have shown steady gains over the past month, supported by strong earnings and new product releases. Traders can monitor for brief pullbacks to key support levels, which often provide optimal entry points for a trade held over a few days to a week. Exiting near short-term resistance can help capture gains while minimizing exposure to sudden reversals. 2. Consumer Discretionary Trend TradeRetail and leisure companies have exhibited recurring price swings in response to weekly consumer reports and earnings updates. A swing trade setup could involve entering positions when a stock consolidates near a support zone after a small dip, anticipating a rebound driven by strong consumer sentiment. Traders should keep an eye on sector-wide news, as sentiment can shift quickly, affecting multiple positions simultaneously. 3. Commodity-Linked OpportunitiesOil and gold have been particularly volatile, reacting to geopolitical developments and central bank signals. For swing traders, short-term trends in these commodities can translate into opportunities in energy and materials-related equities. A setup could involve tracking a breakout above a short-term resistance level, riding the momentum for a few days, and exiting as the asset approaches the next psychological or technical barrier. Across all setups, disciplined risk management is critical. Position sizing, stop-loss placement, and timely monitoring of macroeconomic and sector-specific news are essential to navigating the volatility effectively. By combining technical patterns with real-time market awareness, swing traders can capitalize on short-term price movements while keeping downside risk under control.