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Business : Finance & Investment News

Puma Property Finance funds £65m GDV residential housing development in North West London for JV involving Latimer Developments Limited, Londonewcastle and Cervidae

Kenneth Booth June 27, 2022

141 apartments will be built over the next three years, 40% of which will be affordable housing Loan marks Puma Property Finance’s first deployment from its £300m funding line with Waterfall Asset Management Puma Property Finance (PPF) today announces it has provided funding to finance a £65m GDV, 26-storey residential

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Architecture, engineering and building sector wholesale businesses hitting a brick wall thanks to Covid, Brexit, and manual processes impacting profitability

Kenneth Booth June 17, 2022

Unprecedented economic and social changes threaten profitability A new survey commissioned by OGL Group reveals that Covid, Brexit and the continued reliance on manual processes are the greatest factors affecting profitability for architecture, engineering and building sector wholesale businesses in 2022. The research focused on those companies that stock products

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LEGAL & GENERAL ANNOUNCE £4BN INVESTMENT COMMITMENT, WORKING IN PARTNERSHIP WITH WEST MIDLANDS COMBINED AUTHORITY  

Kenneth Booth May 19, 2022

·         L&G makes seven-year multi-billion-pound landmark investment commitment to help the West Midlands Level Up  ·         Includes support for provision of housing of all tenures, including social and modular; commercial property and urban regeneration across multiple sites  ·         First project for the partnership will deliver new affordable homes in the

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Roann Limited Celebrates Record-Breaking Month

Roann Limited Celebrates Record-Breaking Month

Cristina Diaconu April 14, 2022

Roann Limited, the granite and quartz worktop supplier, celebrated a record-breaking month in February, reaching a sales total of £1,102,060. The Wakefield-based business secured three six-figure project deals with credible housebuilders and construction businesses which contributed to this sales peak, including Midgard Construction, Hill Partnerships and Vistry Partnerships. The news

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Construction orders show fastest rise in seven months

Kenneth Booth April 7, 2022

Building output was boosted by sustained rise in new work across the board according to the Construction Purchasing Managers index for March. The latest reading of 59.1 was unchanged from February and well above the 50 mark that separates expansion from contraction. The index revealed the joint-fastest rate of output

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Latest Issue
Issue 322 : Nov 2024

Business : Finance & Investment News

Legal & General acquires 6.2-acre Horsham site for multi million pound industrial scheme

Kenneth Booth June 30, 2022

Legal & General Investment Management (LGIM Real Assets) has acquired a 6.2-acre freehold estate in Horsham, West Sussex on behalf of its Industrial Property Investment Fund (“IPIF”). LGIM Real Assets and its development partner, Graftongate, plan to speculatively develop a prime multi-unit industrial/logistics scheme on the site of Wilberforce House in Southwater, south of Horsham town centre. The proposed scheme would see the development of seven new warehouse units totaling almost 100,000 sq ft, including integral office space. The scheme will target EPC A+, BREEAM Excellent and operational net zero carbon. Wilberforce House is currently let in its entirety to the RSPCA, which is relocating to smaller premises. LGIM Real Assets and Graftongate plan to develop the scheme on receipt of vacant possession in Q1 2023. Jonathan Holland, senior fund manager for LGIM Real Assets, said: “The purchase presents an excellent opportunity to acquire a development site to provide Grade A industrial stock in a supply constrained market and a sector where occupational demand is booming, and rental growth is set to follow. On expiry of the lease, this will be one of the most strategic development sites in West Sussex.” Alex Thomason, development manager at Graftongate, said: “The redevelopment of the Wilberforce House estate offers an excellent opportunity to deliver high quality industrial/logistics accommodation in an established commercial location. The property occupies a prime position on Wilberforce Way and benefits from excellent transport links, being easily accessible via the A24 dual carriageway. We expect the scheme to generate significant interest from prospective occupiers.” Savills and Clay Street acted on behalf of LGIM Real Assets and Graftongate, the vendor was represented by Carter Jonas.

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Puma Property Finance funds £65m GDV residential housing development in North West London for JV involving Latimer Developments Limited, Londonewcastle and Cervidae

Kenneth Booth June 27, 2022

141 apartments will be built over the next three years, 40% of which will be affordable housing Loan marks Puma Property Finance’s first deployment from its £300m funding line with Waterfall Asset Management Puma Property Finance (PPF) today announces it has provided funding to finance a £65m GDV, 26-storey residential apartment block in Stonebridge Park, North West London. The development will create 141 apartments over the next three years, of which 56 will be affordable housing. The project is being developed by a joint venture featuring Latimer Developments, the development arm of the UK’s largest provider of social housing, Clarion Housing Group, together with developers Londonewcastle and Cervidae, and aims to address the acute housing shortage in the capital. The development will transform currently derelict office site and is part of the wider regeneration of the Stonebridge Park area.  The apartments are being developed with sustainability credentials front of mind, including a zero-carbon target and enhancing biodiversity through new habitat creation. Kevin Davidson, Managing Director, who led the deal for Puma Property Finance, comments: “We’re delighted to support this development and to be working alongside such prestigious and experienced residential developers and social housing provider parties. Demand for new affordable housing with high sustainability credentials remains high; we hope this development will help not only to address the ongoing shortage of properties, but also to deliver genuine social value as cost of living increases continue to bite while rents across the capital rise. Working with established partners in the industry, it should be an exciting three years as the development takes shape.” “I would like to thank our valued professional partners on the deal, Hollis (Project Monitors), Charles Russell Speechlys (Lawyers) and Savills (Valuation) for all their support in closing this important transaction.” David Barnett, CEO of Londonewcastle comments: “Argenta House is an incredibly exciting project for us in a key regeneration area of Brent. The planning permission that we have secured is unique within the London market and will deliver over 141 private and affordable homes adding to the already dynamic transformation of North West London. We and our JV partners have enjoyed working with Puma to secure the funding for the development and we have been impressed with their pragmatic, can-do attitude.  We look forward to working with them in the future and seeing this project come to life in the built environment.” Richard Cook, Group Development Director of Clarion Housing Group, said: “We are delighted to enter into this exciting joint venture with Londonewcastle and funders Cervidae to deliver a sustainable residential scheme which will kickstart the wider regeneration of the Stonebridge Park area. “We are passionate about providing homes for those who need them most and last year we built nearly 2,000 affordable homes across the country. This scheme will provide vital affordable homes for local people in area of acute housing need.” Alex Hamilton, CFO of Cervidae comments: “Puma’s new funding line offers us the flexibility and deliverability to be confident of a successful financing and a positive relationship throughout the loan. We are pleased to continue our relationship with Puma.” Puma Property Finance offers capital and expertise to experienced property professionals across all sectors and locations. In addition to financing residential and commercial developments, Puma Property Finance has a strong track record funding essential social infrastructure from care homes to retirement living and student accommodation. The alternative lender offers fixed rate loans, providing long-term certainty amid rising interest rates. The development also marks Puma Property Finance’s first loan from its funding line with Waterfall Asset Management – a £300 million facility secured earlier this year. The funding is attractively priced, allowing Puma Property Finance to provide increasingly competitive rates to prospective borrowers.

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Architecture, engineering and building sector wholesale businesses hitting a brick wall thanks to Covid, Brexit, and manual processes impacting profitability

Kenneth Booth June 17, 2022

Unprecedented economic and social changes threaten profitability A new survey commissioned by OGL Group reveals that Covid, Brexit and the continued reliance on manual processes are the greatest factors affecting profitability for architecture, engineering and building sector wholesale businesses in 2022. The research focused on those companies that stock products that support these sectors, from handheld laser distance meters, architect scales, power tools, ladders to trolleys, and provide equipment including welding machines, workwear and safety equipment, to providers and commercial businesses. The market size of the architectural industry is £6.5 billion in revenue in 2022, with the UK construction sector contributing more than £110 billion per annum and nearly 7% of GDP. The engineering and building sector is one of the UK’s broadest with 5.5 million people working in those industries, accounting for 18% of all UK employment. With the rapid increase in the need for housing, there is continued demand for architecture, engineering and building services, made more prominent by the return to work after 2020’s extended lockdown period. Both the Covid pandemic and Brexit have hit supply chains hard. Exacerbated by stock management pressures, architectural, engineering and business wholesale firms are citing top technology priorities for the next 12 – 24 months as business performance reporting 50%, linking ERP with eCommerce 33%, website creation/update 33% and order management software 33%. Insecurity around Brexit is affecting profitability at 58%, but this is now being overshadowed by Covid as the top factor at 67%. The pandemic has led to supply chain shortages with some architecture, engineering and building sector businesses stockpiling products and parts to ensure delivery to clients. Manual processes are still plaguing businesses, leaving them behind the curve with regards to digital transformation, since 75% cited them as a problem that can lead to potential loss of revenue, and inability to correctly assess performance and sales. Entering another potentially uncertain economic period with continuing supply-chain issues, the Ukraine-Russia war, cost of living and fuel price rises, wholesalers’ efforts to increase profitability are critical. Technology is at the heart of this. 92% of respondents agreed that automating business processes helps their companies stay competitive, up from 70% of engineering companies pre-pandemic. A key finding of the research was the wide spread of technologies used and the disparate nature of systems that are not necessarily “talking to each other” to provide a full view of operations. Wholesale businesses use a range of software systems to function: more than 95% of respondents use one or more software systems to run their business. Finbarr Creeney confirmed that his firm, Express Cutting & Welding Services, replaced accounting software, manual processes, inventory/stock control, and sales order/enquiry management with an integrated ERP system. 67% of respondents saw benefits from integrating disparate systems. 58% listing the main reason to use a single system as removing duplication of work across different departments, followed by 58% citing reduced administration time. 50% stated a single system helped achieve growth plans and future proofed their business, while 33% cited enhanced customer service and efficiencies by improved accuracy of information. Single systems are beneficial for online stores, where stock checks and reporting ensure that customers have a good understanding of delivery timescales and product availability. Survey respondents confirmed that eCommerce has grown exponentially, with 83% stating that being able to sell products online easily is really important to them. As the pandemic accelerated digital transformation, cloud computing continues to be a driver for change, with 83% of industry respondents agreeing that hosting applications and data in the cloud have improved efficiencies and productivity (or would improve them if cloud were implemented). Despite the benefits of cloud, concerns about security remain, though have reduced marginally from 55% in 2019 to 50% in 2022. This reflects the growing acceptance of moving core applications and data to the cloud. Critically ERP systems are a key technology with 92% agreeing that ERP systems give greater visibility and control of stock. ERP refers to a suite of integrated software that businesses use to manage day-to-day business activities, such as sales order management, stock control, warehouse management, CRM and more. One survey respondent comments on implementing a single ERP system: “Since installing an ERP system, the integration has led to far better customer service and efficiency. We can now store customer details and contacts centrally; raise orders based on sales and re-stock to min, max or optimum. This has transformed our stock and also improves customer service by cutting down lead times. Something that became apparent during the pandemic was that during times of reduced staff levels, we were still able to cope in an efficient manner because of the automation built into our ERP system.” The main barriers to deploying an integrated software solution were cost, with 58% citing it as a factor, followed by 50% with data security and 33% finding a solution that’s right for their business via a reputable provider. Cost is often associated with the misconception that ERP systems are only for larger businesses, and the lack of information about affordable subscription-based models. Charlie Grant, Head of Operational Product Development, OGL Software commented: “The business model for architecture, engineering and building firms has evolved quickly, with our 2022 survey identifying several changes, including the pandemic and stock availability, that impact profitability; the drop in concerns about security of cloud computing, and the growing realisation that ERP systems are not solely for large enterprises. Digital transformation has no doubt saved many businesses that have pivoted to online sales and it’s heartening to reveal that 92% agreed that ERP systems provide greater visibility and control of stock, especially as part of a multichannel sales strategy.” NB: survey conducted in March 2022 and any comparison is to the same questions in September 2019. Respondents were given a number of options for each question.

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COLE WATERHOUSE JV ACQUIRES SITE FOR 1000+ APARTMENTS IN EAST LEEDS CITY CENTRE

Kenneth Booth May 23, 2022

Cole Waterhouse and Tonia Investments have successfully purchased a 3.8 acre brownfield site in Leeds city centre having recently secured planning for 1012 apartments, over five separate blocks. Currently referred to as ‘Leeds City Village’, the triangular site sits opposite Leeds’ cultural district, Quarry Hill.  Bound by Marsh Lane to the west and Shannon Street to the north. It was formerly home to the Marsh Lane Goods Yard.  The joint venture sees Cole Waterhouse and Tonia Investments working in partnership for the first time. Speaking about plans for the development, Damian Flood, CEO at Cole Waterhouse, commented: “We seek to build developments where placemaking is central to the design to help deliver places that are desirable destinations as well as great places to live.” Commenting on the acquisition, JV partner Tonia Investment Principal Charlie Qian said: “Tonia is excited to work with Cole Waterhouse. We hope the delivery of this impressive scheme will add to the continued expansion of the City Eastwards. It will provide an acre of new public realm that we hope will complement the success of the neighbouring cultural quarter.” The JV partnership now aim to progress the scheme with Leeds City Council. They plan to make a series of design changes to enhance the residential offering and public realm space. The revisions to the submitted planning application will ensure that the development meets occupiers’ expectations now and in the future; proposed changes include adjusting the balance of studio apartments for larger 1-bed apartments as well as providing a sharper focus on the communal areas and the overall scheme design. Enhancements to the public realm will seek to address functional improvements that enable better use of outdoor spaces for entertainment, exercise and leisure. Damian Flood said: “Understanding the area’s culture and the community’s future ambitions is crucial and we will be appointing a local cultural lead to help us shape the scheme to ensure it meets the aspirations of local residents. This community-first approach has been hugely successful for us at other schemes, helping to really connect and engage with the local market from the earliest stage of the development. “We’re really excited to be working in Leeds at a time when it is undergoing a significant period of transformation and we will be appointing a primarily Yorkshire-based team to deliver the project over the next 6 years. We will be submitting the revised planning application by the end of 2022 with the intention to start on site as soon as planning is granted.” Cole Waterhouse has a strong track record in the residential and BTR sector and has a current pipeline to deliver over 2000 residential units across its sites in Leeds, Birmingham and Manchester. Building Design and Construction Magazine | The Home of Construction & Property News

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UKREiiF: Shadow Chancellor sets out Labour’s mission to grow economy and boost British construction businesses

Kenneth Booth May 20, 2022

As she gave the UKREiiF keynote this Thursday (19 May), Shadow Chancellor Rachel Reeves said a Labour government would get the economy firing on all cylinders – and backed the British construction industry to help forge that path towards a stronger economy. Speaking at the Royal Armouries Museum as part of the three day conference hosted by the UK’s Real Estate Investment and Infrastructure Forum, she told attendees ranging from investors, developers and occupiers of real estate, how Labour’s plan to grow the economy and bring jobs and prosperity to all parts of the country. And she said the party were committed to support businesses and the industry with the huge challenges facing them from rising inflation and supply chain problems. She said that a partnership between government and business lies at the heart of Labour’s plan for growing the economy, and laid out the party’s key plans to: Buy, make and sell more in Britain Introduce a Climate Investment Pledge to leverage in massive private investment into the economy, boost businesses and create jobs across all parts of the country Create an Industrial Strategy that will help grow the economy and help British industries lead the pack Scrap business rates and replace them with a fairer and more modern form of business property taxation Introduced on the levelling up stage by director of Built Environment Networking Ltd, Phil Laycock, Reeves said that Labour will always be proudly pro-worker and proudly pro-business party. And she noted that “as we rebuild after the pandemic, transition to a low-carbon economy, and meet the challenges and opportunities of the future, businesses large and small will be an essential part of that collective national effort.” Speaking about levelling up, she said “As every one of you will know, a real plan for growth needs to be a plan for growth felt in every part of the country. In too many parts of our country, confidence in the future does not yet match pride in the past. “If we are going to fix that, it will take much more than a cosmetic levelling-up, it will take a real plan for widely-shared prosperity. “For Labour, this means: “First, bold investment to allow us to seize the opportunities of climate transition. “Second, getting serious about industrial strategy – and that is inseparable from a serious regional strategy. “And third, a government providing responsible and open leadership, to create an environment in which business leaders can have confidence and certainty.” Speaking about Labour’s plans for an industrial strategy, Reeves said: “We need a serious industrial strategy fit for the 21st century. “Where the Conservatives scrapped their own Industrial Strategy Council, Labour will create an industrial strategy built on an ethos of cooperation across the public and private sectors, employers and workers. “It will bring local, regional and national leaders together with businesses, trade unions and universities to unlock the brilliance of our leading businesses and entrepreneurs in every part of Britain.” On what Labour would do right now to help businesses facing soaring costs, Reeves said: “We would support energy intensive firms with £600 million of emergency funding to get them through this crisis. “We would cut Business Rates in the short term, providing much-needed relief while overhauling the system in the longer term to make it fit for the 21st Century. “And we have consistently opposed the National Insurance rise. It is a tax on working people and business at exactly the wrong time. “This is a time when working people and the great majority of businesses need a government that is on their side and a Labour government would always strive to be that.” On Labour’s Climate Investment Pledge to supercharge industry, Reeves’ said: “Over the next five years, we are forecast to have a near £800bn investment gap compared to other OECD countries. “I agree with the director of the CBI, Tony Danker, who says this calls for ‘catalytic public investment’. “That is what Labour’s Climate Investment Pledge – £28bn invested each year for the rest of this decade – is about: unlocking the private investment we need to get our economy firing on all cylinders. “Labour will invest in the green industries of the future, working closely with industry – including our construction industry – to build Giga-factories to make batteries for electric vehicles, a thriving hydrogen industry, offshore wind with turbines made in Britain, and flood defences, working closely with, and supporting industry – including our construction industry. “There is a global race on for the jobs of the future, and it calls for active government and business working in partnership.” On Labour providing certainty for British businesses, Reeves said: “It is vital that government provides certainty and transparency in policy decisions so you can know it is safe to invest and plan ahead, without fear of erratic decision-making or policy decided behind closed doors which then falls apart upon contact with the real world. “A Labour government will take a long term view, working with business, in a spirit of cooperation and transparency, to meet the challenges and seize the opportunities of the future.” Building Design and Construction Magazine | The Home of Construction & Property News

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LEGAL & GENERAL ANNOUNCE £4BN INVESTMENT COMMITMENT, WORKING IN PARTNERSHIP WITH WEST MIDLANDS COMBINED AUTHORITY  

Kenneth Booth May 19, 2022

·         L&G makes seven-year multi-billion-pound landmark investment commitment to help the West Midlands Level Up  ·         Includes support for provision of housing of all tenures, including social and modular; commercial property and urban regeneration across multiple sites  ·         First project for the partnership will deliver new affordable homes in the Black Country  ·         Strong innovation focus to drive economic growth across the region  West Midlands Combined Authority (WMCA) Mayor, Andy Street, and Legal & General (L&G) CEO, Sir Nigel Wilson, have today signed a partnership agreement with L&G committing to invest £4bn in regeneration, housing and levelling up across the West Midlands.    The landmark agreement, L&G’s first with a combined authority, sets out a commitment to a seven-year programme of L&G investment, building on the region’s 2022 Investment Prospectus.   The programme is designed to create vibrant, dynamic communities in the region which, by providing attractive environments for people to work, live and play, will further enhance the West Midlands as a driver of UK economic growth. This builds on similar partnership agreements the WMCA has signed since 2018 with organisations such as Lovell and St Modwen.    The clear statement between both organisations combines the respective strengths of the WMCA and L&G. The Combined Authority has a clear and ambitious vision for the region with a strong commitment to Levelling Up, net zero, brownfield regeneration, affordable housing, inclusive growth and devolved powers to deliver on issues from land assembly to infrastructure, both physical and digital.     L&G, which manages £1.4 trillion as the UK’s largest investor, has financed over £30bn of regeneration in UK towns and cities outside London, and wants to repeat the scale of this investment.  It has already invested over £2bn in the WMCA’s region, including the £210m Birmingham Health Innovation Campus and multiple housing projects.     The 2022 West Midlands Investment Prospectus launched in March provides a range of possible development opportunities spread across the region which L&G and other investors can invest in. These prioritise creating thriving and more prosperous places and communities, including “corridors” and city and town centre development.      Alongside investment into new commercial developments, the agreement envisages a major contribution by L&G into climate-friendly projects, local communities and social and affordable housing, including build-to-sell and build-to-rent – providing high-quality homes across the range of tenures.   The agreement will also support the region’s target to deliver 215,000 new homes by 2031, as set out in its ground-breaking Housing Deal with Government in 2018, and the WMCA’s drive for wider inclusive growth.    Since the Housing Deal was signed, the West Midlands has secured upwards of £600m from Whitehall to drive regeneration with new housing and commercial schemes focussed predominantly on derelict or vacant urban sites, often referred to as brownfield land.   Using a nationally leading ‘brownfield first’ approach, WMCA investments have unlocked scores of disused industrial sites for new homes and jobs with developers required to make at least 20% of those new properties affordable under the WMCA’s own locally applied definition, linked to real world local wages rather than property prices.   The first scheme for the partnership will be The Junction, a brownfield site in Oldbury which has lain empty for over 20 years. The site will be brought back into economic use through the investment of L&G. The development will deliver 234 energy efficient new homes of which nearly 50% will be for affordable housing under the WMCA’s local definition.   Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “The unveiling of this £4 billion partnership agreement with L&G is a prime example of how the West Midlands is getting on and delivering Levelling Up. This major investment will help regenerate long neglected areas across the West Midlands, provide affordable homes in the communities where the need is most felt, and supercharge economic growth in the years ahead.      “The scale of the ambition L&G is showing is evident in both the huge sums involved and the breadth of projects envisioned. It is a tremendous vote of confidence in the future of our region from one of the world’s biggest investors, and I am delighted L&G came to the table and agreed such a monumental commitment with us.   “I cannot wait to see this investment rolled out, projects underway, and the lives of our residents changed for the better.”     Sir Nigel Wilson, CEO of L&G, added: “We have been investing across the UK in partnership with cities and universities for a decade.  It’s part of our ‘Inclusive Capitalism’ approach and has delivered terrific economic and social results. With Andy and his colleagues as ambitious partners at WMCA, we can take this to a new level.    “The West Midlands’ economic plan, resources and skills make it an attractive destination for trade and investment from across the world; our role in this is to put UK funds including pension savings to work here so UK savers benefit from UK prosperity.”   Cllr Mike Bird, WMCA portfolio holder for Housing and Land and leader of Walsall Council, said: “There’s no doubt that Covid has been hard on our regional economy but this partnership brings together public and private sector investment and skills on an unprecedented scale in the West Midlands.   “It also shows how our determination to press on and continue making key investments throughout the pandemic, bringing solid delivery on the ground, has been critical in driving private sector confidence and trust.    “The level of investment that L&G has set out will be an incredible shot in the arm for the West Midlands as we continue our recovery, helping to bring sustainable economic growth that benefits all our communities and supports our ambition to be a net zero region by 2041.”   L&G’s Director of Levelling Up, John Godfrey, adds: “Towns, cities and regions across the UK can do much, much better – this is the essence of the levelling up agenda. This framework agreement with the West Midlands enables political will to combine with financial resource so policy intentions become deliverable realities. We fully expect

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UKREiiF: Belfast region’s cleantech knowhow primes Wrightbus for global growth

Kenneth Booth May 19, 2022

The Belfast region’s world-class cleantech sector and strong talent pool will allow Wrightbus to flourish, the company’s chief executive officer has said. Speaking at UK Real Estate Investment & Infrastructure Forum (UKREiiF), Buta Atwal also said Northern Ireland’s unique position in the wake of Brexit makes his and other companies in the region ideally positioned to trade across both the UK and EU. Combined with a flourishing cleantech sector, which has the support of partner companies, local government and academia, he said the Belfast region has created an environment which will nurture innovation in the space and help companies like his become world leading. Mr Atwal said: “It is no coincidence that Wrightbus is regarded as a leader in hydrogen bus technology. Since first entering passenger service in 2020, our StreetDeck Hydroliners have clocked up a million miles, preventing 1,700 tonnes of CO2 from entering the atmosphere on those bus journeys. “We have been able to lead the field in hydrogen bus technology in large part as a result of our location in Ballymena. It has afforded us access to a world-class cleantech skills base, one which will be further enhanced by the Hydrogen Training Academy planned under the Belfast Region City Deal, and the i4C Innovation & Cleantech Centre. “And, as our orders grow around the world, our unique position here in Northern Ireland, with a foot in both the UK and EU markets, offers us the chance grow exponentially.” Mr Atwal was speaking during the Belfast Region – A £1bn Decade of Opportunity session at the inaugural built environment conference held in Leeds. The session was organised by Renewed Ambition, a partnership focused on positioning Belfast and the wider city region to take advantage of the opportunity to drive residential and commercial real estate investment and support inclusive economic recovery. Also speaking at the event was founder of HemingwayDesign, Wayne Hemingway, who said that the Belfast region has a wealth of untapped regeneration and tourism potential. He underscored the importance of regeneration in creating a region where people want to live, work in and visit, highlighting the Bangor Waterfront project and his vision to make it to Belfast what Brighton is to London. Both Mr Atwal and Mr Hemingway also took part in two respective panel discussions, along with senior leaders from councils within the Belfast region, focusing on the significant potential for the cleantech and innovation sector and for tourism and regeneration. The session also focused on the two major initiatives which will rubber stamp the Belfast region’s potential; the Belfast Agenda with its target of attracting 66,000 people to live and work in the city and 31,600 homes by 2035 – and the £1 billion Belfast Region City Deal, which will deliver innovation and jobs for a new economic era. John Walsh, Chief Executive of Belfast City Council, said: “We have come to UKREiiF with a very clear message: the Belfast region is primed for investment and offers a unique set of opportunities which are unmatched the world over. Through the £1 billion Belfast Region City Deal and the Belfast Agenda, we have set out the pathways for inclusive growth across all areas of our economy and are intent on creating the conditions for businesses to flourish. “As a standalone opportunity, the Belfast region’s offer is impressive. Combined with the support of initiatives, such as the Belfast Region City Deal and other funding opportunities, it offers a compelling investment proposition which has and will draw international attention.” UKREiiF was attended by senior leaders from global investment funds and property companies, UK public sector bodies, government and the third sector. The event focuses on levelling up across the UK and in particular cultivating the development of greener, smarter, healthier places while driving inward investment; how the built environment can play its part in creating net zero UK; and facilitating shared learning across the real estate industry on how to embed social value within the private sector. The Renewed Ambition partnership – including local government, occupiers, developers, the supply chain and more – will deliver a collaborative programme of activity to help ensure strong recovery and growth in Belfast and across the wider region by highlighting its compelling investment proposition globally. It is made up of the councils of Belfast, Antrim and Newtownabbey, Ards and North Down, Mid and East Antrim, Newry, Mourne and Down and Lisburn and Castlereagh City. It aims to shape how the future of the city is reimagined and will act together to deliver that ambition in the months and years ahead. Building Design and Construction Magazine | The Home of Construction & Property News

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National Buying Group calls for ‘pricing realism’ as inflation bites

Kenneth Booth April 26, 2022

The impact of inflation across the construction supply chain fuelled by energy increases has led one of the UK’s largest buying groups to call for “realism” in pricing negotiations. The Office for Budget Responsibility (OBR) is forecasting an inflation peak of 9% this year which is driving material costs up along the length of the construction supply chain. Whilst able to accept reasonable cost pressure, National Buying Group (NBG) is increasingly concerned that price changes must be justified and be proportionate with transparent detail to support any changes. Nick Oates, Managing Director at National Buying Group says the market is difficult for everyone: “We understand this is a very challenging market and that is being reflected in our negotiations. However, there is a real danger that if prices increase too much, we will impact demand from the end consumer, which could ultimately kill the market. We need to spread the inflationary impact across the supply chain.” For the merchant, passing price increases on to the end user is increasingly more challenging, because they must also factor in the greatly increased cost of delivery onto any product price changes, says Nick. “Merchants are arguably the most vulnerable portion of the supply chain to this ‘double squeeze’ from both material and fuel pricing. In effect, merchants must find an extra circa 5% on top of the increase in material prices to cover the cost of delivery.” Nick says suppliers to the merchant sector can help in two ways – by looking at their stock levels and asking for “realistic” price increases. “We’re asking Suppliers to be reasonable about when they ask for price increases. If a Supplier is sitting on many months of stock, there is no need to ask for a price increase today. “Secondly, prices need to be more dynamic and reactive to commodity price changes. When commodity prices come down, Suppliers need to react as quickly as when they go up. That is only fair.” He concluded: “NBG and its Partners have always prided themselves on building strong relationships with their Suppliers. We understand that suppliers cannot absorb all the increase in cost and a proportion needs to be passed on, but independent merchants are also being impacted and their margins eroded by the cost of delivery, so we must take a longer-term balanced view.” For more information on National Buying Group, including how to join the premier buying group for independent merchants, visit https://www.nationalbuyinggroup.com/.

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Roann Limited Celebrates Record-Breaking Month

Roann Limited Celebrates Record-Breaking Month

Cristina Diaconu April 14, 2022

Roann Limited, the granite and quartz worktop supplier, celebrated a record-breaking month in February, reaching a sales total of £1,102,060. The Wakefield-based business secured three six-figure project deals with credible housebuilders and construction businesses which contributed to this sales peak, including Midgard Construction, Hill Partnerships and Vistry Partnerships. The news comes shortly after the business reported a record-breaking year in 2021, with a total sales value of £6,440,579. Following this profitable month, Roann Limited is seeing higher than ever before production figures and anticipates an average of £200,000 per week, in the very near future. “We’re thrilled with the results in February here at Roann Limited! These projects have been in the pipeline for over a year, and we’re delighted that we have now secured them all. We’ve been experiencing a large period of growth over the past two years, and it’s only set to continue. We’re really excited to get started on these new projects and continuing to expand our business growth,” said Scott Wharton, Sales Director at Roann Limited. Established in 1990, Roann Limited specialises in manufacturing, supplying, and installing high-quality granite and quartz worktops within the house building, property development and construction sectors. With more than 30 years’ experience, Roann Limited is dedicated to procuring stone worktops that help developers significantly reduce costs on their projects by selling direct to them. Roann Limited’s purpose-built factory in Wakefield houses more than £2 million worth of state-of-the-art stone manufacturing machines and equipment, enabling the business to fabricate more than 15,000 worktops every year. The company proudly holds accreditations with many of the industry’s leading health & safety schemes, including SSIP certification, and is also ConstructionOnline Gold Approved. Building, Design and Construction Magazine | The Home of Construction Industry News

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Construction orders show fastest rise in seven months

Kenneth Booth April 7, 2022

Building output was boosted by sustained rise in new work across the board according to the Construction Purchasing Managers index for March. The latest reading of 59.1 was unchanged from February and well above the 50 mark that separates expansion from contraction. The index revealed the joint-fastest rate of output growth since June 2021 boosted by the highest level of new orders since August last year. Commercial work was the best-performing segment with an index reading of 60.8 due to projects restarting following the roll back of pandemic restrictions. Chartered Institute of Procurement & Supply group director Duncan Brock said: “But residential building became the laggard of the pack as affordability concerns were a factor in holding back progress particularly in new housing and refurbishment work.” Recoveries in residential work lost momentum in March with a reading of 54.9 and 56.3 for civil engineering. Deliver wait times climb A third of supply chain managers reported longer wait times for deliveries and sharp inflation rises as transport and raw material cost went up. The overall rate of input price inflation accelerated sharply since February and was the highest for six months. “Construction companies are braced for more disruption on the horizon as a result of the Ukraine conflict. The rise in purchasing demand fed into higher costs for materials already in short supply as energy hikes also impacted on business costs,” said Mr Brock. Input buying rose at the steepest pace since July 2021, driven by a combination of stronger demand and efforts to build stocks where possible. S&P Global economics director Tim Moore, whose company compiles the survey, said: “Business optimism slipped to its lowest since October 2020 on concerns that clients will cut back spending in response to rising prices and heightened economic uncertainty.” Property finance intermediary Hank Zarihs Associates said despite economic uncertainty tender opportunities and resilient customer demand meant development finance lenders were keen to offer construction loans to builders.

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