Yesterday the Bank of England (BoE) has announced its decision to hold interest rates at 5.25% for the sixth time, remaining at the highest level for 16 years. This decision, although expected, will have significant implications for the construction industry. No indication was given that rates are set to be
Work has started on site at Cordia UK’s latest project and inaugural build-to-rent (BTR) development, The Lampworks. The Birmingham-based property developer has appointed Shropshire-based construction management practice buildfifty5 to deliver the main construction works for the project in partnership with residential general contractor Pedrano UK. The Lampworks will incorporate a total of 148 apartments and is
LGIM announces today the completion, on behalf of Legal & General Retirement Institutional (LGRI), of its first direct-let Purpose Built Student Accommodation (PBSA) acquisition, following the purchase of the Aqua Portfolio from Global Student Accommodation (GSA). Building on its strong track-record of investing and lending into the sector, this marks
New market analysis by peer-to-peer real estate investment platform, easyMoney, reveals that while the British housing market is likely to remain somewhat muted in 2024 with respect to house price growth, there are a number of local areas where prices are expected to climb with gusto, with 10 areas of
Manchester Airports Group (MAG) raised £300m in the UK capital markets yesterday, through a new 18-year bond. The Group – which owns Manchester, London Stansted and East Midlands Airports – secured the bond at a competitive rate of 5.75%. It was supported by a number of UK and international institutional
Norway’s sovereign wealth fund, Norges, is poised to acquire a significant share in Meadowhall, a key shopping centre in Sheffield, enhancing its position in the UK retail sector. Norges is nearing a deal to buy out British Land’s 50% stake in the centre for around £363 million. This strategic acquisition
Causeway Coast and Glens Borough Council is proud to announce a landmark agreement that will see some £100m invested in the Borough over the next 10 years. With anticipated Growth Deal funding of £36m from UK Government and the same from the NI Executive, alongside other partner contributions, this deal
Leading paving and building products manufacturer, AG, has made a series of substantial investments totalling over £5.4 million to enhance its manufacturing facilities. The latest upgrades, exceeding £400k will boost production efficiency to help meet soaring demand for AG’s hard landscaping and building products while simultaneously reducing the company’s environmental
Quote from Ben Bannatyne, president, Prologis Europe “In the first quarter of 2024, demand for our high-quality logistics real estate remained steady across the 12 European markets where we operate. Germany and the Netherlands continue to be the strongest markets, given their high barriers to supply and strong demand. We
Brookfield replicates successful platform building model to capitalize on the strong demand for warehouse space from blue-chip companies Brookfield, through its European logistics business, continues to significantly expand its platform of high-quality specialized logistics assets. This year the platform will have a gross leasable area (GLA) of 43 million square
BDC 319 : Aug 2024
Yesterday the Bank of England (BoE) has announced its decision to hold interest rates at 5.25% for the sixth time, remaining at the highest level for 16 years. This decision, although expected, will have significant implications for the construction industry. No indication was given that rates are set to be cut later in the year, although the BoE Monetary Policy Committee (MPC) said it would ‘consider forthcoming data release and keep under review how long Bank Rate should be maintained at its current level.’ Richard Beresford, CEO of the NFB commented, “The decision by the Bank of England to maintain interest rates continues to hinder productivity and economic recovery. Due to the size and nature of works, the construction industry relies on borrowing and financing for projects, and high interest rates can hamper its ability to secure strong pipelines of work and invest in growth. This announcement comes at a time when construction already faces considerable challenges in material inflation, planning delays, and energy costs. We, therefore, urge the Government to deliver greater strategic reform in planning, procurement, and regulation to ease these difficulties and create a favourable environment that allows our sector to drive investment, growth, and UK productivity. Building, Design & Construction Magazine | The Choice of Industry Professionals
Work has started on site at Cordia UK’s latest project and inaugural build-to-rent (BTR) development, The Lampworks. The Birmingham-based property developer has appointed Shropshire-based construction management practice buildfifty5 to deliver the main construction works for the project in partnership with residential general contractor Pedrano UK. The Lampworks will incorporate a total of 148 apartments and is set to be one of the most energy-efficient projects in Birmingham – offering exclusively A and B EPC-rated dwellings. As the first building in Cordia UK’s BTR portfolio, it will offer a combination of one-, two- and three-bedroom apartments and affordable homes, alongside contemporary commercial units on the ground floor set in a series of striking landscaped courtyards. Residents will have access to high quality communal facilities, including a co-working space, individual meeting rooms, a shared lounge and a communal kitchen/diner, fit out with modern designs and the latest technologies. Located at the intersection of Great Hampton Street and Harford Street, The Lampworks will reflect the industrial heritage of the Jewellery Quarter. It forms part of Cordia UK’s wider vision for Great Hampton Street, a masterplan to transform the area into a thriving residential and commercial destination. András Kárpáti, CEO at Cordia UK, said: “The Lampworks is the first development in our build-to-rent portfolio and a unique addition to Birmingham’s rental market – offering contemporary architectural design and amenities in a setting that maintains and reflects the Jewellery Quarter’s renowned heritage. “We are excited to be working with our construction partners buildfifty5 and Pedrano UK on the project and look forward to seeing our vision for Great Hampton Street continue to come to life with new residents and independent businesses.” As a member of one of the largest residential real estate development and investment groups in Europe, Cordia International (Member of Futureal Group), Cordia UK benefits from a vast track record of international projects and is driving forward innovative practices in the UK residential market. Construction at The Lampworks is being supported by Cordia International’s key strategic partner, Pedrano Group. With 15 years of experience in apartment developments across Europe, Pedrano will work closely with local contractor buildfifty5 to provide strategic direction on the project. Gábor Szulyovszky, CEO at Pedrano Group, added: “At Pedrano Group, we have a long track record of delivering high quality apartments for Cordia International in Central Europe. “We are thrilled to be working with Cordia UK to deliver their first BTR development in Birmingham and will be supporting the project strategically from start to finish.” Garry Whiting, Managing Director of Buildfifty5, commented: “Buildfifty5 is delighted to be partnering with Pedrano UK on the delivery of The Lampworks in the Jewellery Quarter. “Our appointment as construction manager and delivery partner brings together buildfifty5’s core strengths as an organisation focused on collaborative and practical solutions for our key sector clients.” Financial support for the development has been provided by Octopus Real Estate, part of Octopus Investments and a leading specialist real estate investor and lender, with assistance from financial advisor BBS Capital. The loan was provided as part of its Greener Homes Alliance with Homes England, which pledges to commit £172 million in finance and expert support to SME housebuilders ─ enabling them to build more high-quality, energy-efficient homes throughout England. Nick White, Head of Development Origination, Octopus Real Estate, said: “We’re thrilled to have provided Cordia UK with the funding needed to develop this exciting project, conveniently located close to Central Birmingham. It’s a fantastic example of the impact our Greener Homes Alliance has in supporting developers to pursue greener initiatives, and reflects Octopus Real Estate’s commitment to providing quality, sustainable homes.” With the new residential units in the development set to achieve outstanding energy efficiency ratings, this partnership will benefit both future residents and the building operator. Residents of Great Hampton Street will benefit from nearby amenities such as Tesco, Morrisons, and popular restaurants and bars including Hockley Social Club and The Church Pub. The development is also just a five-minute walk from St Paul’s tram stop and ten minutes from Snow Hill train station. To find out more about Cordia UK, visit: https://cordia.uk/. Building, Design & Construction Magazine | The Choice of Industry Professionals
LGIM announces today the completion, on behalf of Legal & General Retirement Institutional (LGRI), of its first direct-let Purpose Built Student Accommodation (PBSA) acquisition, following the purchase of the Aqua Portfolio from Global Student Accommodation (GSA). Building on its strong track-record of investing and lending into the sector, this marks the launch of the L&G Student Living Platform. The GSA portfolio consists of two high quality, modern PBSA assets located in Exeter (Clifford House) and Glasgow (Scotway House). Both assets completed in 2019 and have proven historic rental growth, consistent 98%+ occupancy and have established a strong reputation in each of their respective student markets. Clifford House in Exeter consists of 312 bedrooms and Scotway House in Glasgow consists of 399 bedrooms, the assets were purchased for a combined pricing of c.£122m. LGIM has been operating within the student accommodation sector for more than 10 years following its first investment in 2011. It currently manages over £1.2bn in the sector, across equity and debt investments. The new direct-let PBSA strategy will look to target operational, up and built PBSA units no older than five years old. LGIM aims to deploy c.£0.5bn of capital into the sector over the next two years, with the longer-term goal of growing the portfolio to over £1bn and directly managing c.5k beds across the UK. The PBSA strategy complements L&G’s track-record in the investment, development and operation of residential assets – with over £1.1bn1 invested across suburban build to rent, affordable housing as well as later living. Having launched in 2016, LGIM’s build to rent strategy has committed over £3bn2 of institutional capital into the sector and expanded its portfolio to 24 schemes across 13 cities nationwide; cementing its position as a leader in the market. Neil Dovey, Head of Annuity Transactions, LGIM said: “We’re excited to have made our first direct-let acquisition in the student accommodation space. These assets provide high quality PBSA accommodation, situated in locations benefitting from strong academic institutions and demand from students, looking for buildings designed to meet the requirements of modern university life.” Adam Burney, Head of Annuity BTR & PBSA, LGIM commented: “Investing in direct-let PBSA assets forms the next iteration of our Living Sector strategy. The sector has demonstrated its alignment to our strategic requirements, which includes a significant focus on ESG and provides diversification. Following the success and growth of our BTR platform, this strategy further supports the long-term investment goals of LGRI.” Andrew Kail, CEO, Legal & General Retirement Institutional (LGRI) added: “Pension scheme capital is being put to positive use in the real economy – with tangible benefits across generations. These buildings provide students with quality accommodation, while the British economy as a whole should benefit from long-term investing in real assets. We’re proud of how expertise from colleagues has unlocked these benefits for both the new generation as well as the long-term future of those looking to a sustainable pension.” Knight Frank advised LGIM on the acquisition, MTRE advised GSA 1,2 – Legal & General internal data as at April 2024 Building, Design & Construction Magazine | The Choice of Industry Professionals
New market analysis by peer-to-peer real estate investment platform, easyMoney, reveals that while the British housing market is likely to remain somewhat muted in 2024 with respect to house price growth, there are a number of local areas where prices are expected to climb with gusto, with 10 areas of the nation on track for growth of more than 14% by the end of 2024. easyMoney analysed the recent performance of the British housing market based on the latest available Land Registry data*, calculating the average monthly rate of growth seen since interest rates were held at 5.25% in September of last year. easyMoney then used this average monthly change to forecast how the market could perform over the remainder of the year, with homebuyers yet to see a reduction in interest rates materialise this year. National picture The analysis shows that since the base rate was held at 5.25% for the first time in September 2023, the average house price across Britain has declined at an average rate of -0.3% per month. If this trend continues through to the end of the year, the average house price in Britain could fall by -2.6%, or -£7,501, from £283,428 today to £275,927 in December 2024. Just two regions forecast for positive growth A regional analysis reveals that only two regions of Britain are expected to see positive price growth by December. In the North West, the past six months has seen average monthly price growth of +0.4%. If this continues through to the end of the year, prices will grow by +4.3%reaching a regional average price of £330,593. Meanwhile, the North East has seen prices grow by a monthly average of +0.2% over the last six months. If this continues through to December 2024, prices will increase by +2.4% to reach an average of £164,235. Prices in all other regions are predicted to fall, with the West Midlands (-7.8%), London (-6.8%), and Yorkshire & Humber (-6.3%) experiencing the biggest drops. These forecasts from easyMoney mirror the wider industry consensus that the British housing market will remain somewhat subdued in 2024. 10 local authorities forecast for growth of 14%+ However, further analysis by easyMoney at local authority level* has revealed that some of Britain’s local markets could be destined to buck the national trend, with 10 locations forecast for growth in excess of +14%. Over the past six months, house prices in Derbyshire’s Amber Valley district have increased by 2.4% per month, putting the area on track for growth of +26.5% by the end of the year. Darlington has seen an average monthly rate of growth of 2.1% since interest rates were held, suggesting house prices in the area could climb by a further +23.7% by the end of this year. Also set for +14% price growth or more are Torfaen (+18.8%), West Devon (+16.6%), Babergh (+15.7%), Rossendale (+14.8%), North West Leicestershire (+14.8%), Greenwich (+14.5%), Hackney (+14.2%), and Chorley (+14%). The Analysis by easyMoney also shows that a further 102 local authorities could see positive house price movement in 2024. Jason Ferrando, CEO of easyMoney says: “After such consistent upward growth, followed by a period of stagnation, it looks to be a far more settled year for the housing market, with property values expected to remain largely flat in 2024. “But as is so often the case, you can’t judge a market by its topline statistics. Instead you have to dive down into the local market data to discover that price performance in certain parts of Britain could be far from flat as we move through the year. “For anyone who is looking to invest in property this year, it’s useful to know which parts of the country are bucking the national trend. Although it can be far less time consuming to opt for an investment vehicle where market experts have already done the hard work in identifying these up and coming investment hotspots.” Data tables and sources Full data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals
Manchester Airports Group (MAG) raised £300m in the UK capital markets yesterday, through a new 18-year bond. The Group – which owns Manchester, London Stansted and East Midlands Airports – secured the bond at a competitive rate of 5.75%. It was supported by a number of UK and international institutional investors. Proceeds from the bond will support MAG’s significant investment plans – including the completion of the Manchester Airport Transformation Programme by 2025 and plans to extend the terminal building at London Stansted Airport. MAG mandated Barclays, CIBC, HSBC, NAB and NatWest as book runners on the new bond. Linklaters acted for MAG, with Allen & Overy acting for the bookrunners. This transaction is MAG’s second bond issuance in the last 12 months, having raised £360m from the market in September 2023. MAG Chief Financial Officer, Jan Bramall said: “We are pleased that our investment partners continue to show confidence in MAG and our plans to invest in our airports. “By supporting this bond, we can focus on delivering the infrastructure transformation which will improve the airport experience for our passengers and allow us to achieve our long-term growth targets.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Norway’s sovereign wealth fund, Norges, is poised to acquire a significant share in Meadowhall, a key shopping centre in Sheffield, enhancing its position in the UK retail sector. Norges is nearing a deal to buy out British Land’s 50% stake in the centre for around £363 million. This strategic acquisition would place the total valuation of Meadowhall at approximately £725 million and is expected to yield a return of 7-8%. The move is seen as a strong indication of Norges’ confidence in the resilience and future profitability of top-tier retail locations across the UK. The discussions, which are in their final stages, were triggered by British Land’s decision last September to sell its share. Although a partnership continuation with British Land seems the most likely outcome, Norges is also considering other potential buyers. Under the proposed terms of the deal, British Land would maintain its role in managing the daily operations at Meadowhall, under the leadership of CEO Simon Carter. The shopping centre is home to a host of major retailers including Marks & Spencer, Zara, and Primark, adding to its appeal. This isn’t Norges’ first venture in UK property; its portfolio includes substantial stakes in London’s West End, notably a 25% interest in Regent Street managed by The Crown Estate, and a 23.5% ownership in Covent Garden through Shaftesbury Capital. Furthermore, it shares ownership of the West One shopping centre with British Land. Meadowhall has a storied history, developed on the site of a former steelworks by Yorkshire entrepreneurs Eddie Healey and Paul Sykes, and was sold to British Land in 1999 for £1.2 billion. Despite the challenges faced by the UK retail sector due to the rise of e-commerce and high business rates, Norges’ latest investment is seen as a testament to the enduring appeal of prime retail spaces. Building, Design & Construction Magazine | The Choice of Industry Professionals
Causeway Coast and Glens Borough Council is proud to announce a landmark agreement that will see some £100m invested in the Borough over the next 10 years. With anticipated Growth Deal funding of £36m from UK Government and the same from the NI Executive, alongside other partner contributions, this deal is set to shape the future trajectory of the region. The formal signing of the Growth Deal, Heads of Terms agreement, represents a significant milestone in advancing the economy of the Causeway Coast and Glens Borough. The official launch took place at Ulster University’s Coleraine Campus this morning and brought together influential leaders, dignitaries, and stakeholders to celebrate collaborative efforts towards sustainable growth and development. Notable attendees included the First Minister, deputy First Minister of Northern Ireland, the Parliamentary Under-Secretary of State for Northern Ireland and the Finance Minister underscoring the importance of this moment for our community. The Mayor of Causeway Coast and Glens Borough Council, Councillor Steven Callaghan noted the importance of the investment for the future prosperity of the Borough and its citizens. He stated: “Today’s event is the culmination of an enormous collective effort which began all the way back in 2019. Many institutions and individuals have contributed towards the development of a package of projects which represents the single largest Government investment in the Causeway Coast and Glens region. “This Growth Deal also demonstrates Council’s commitment to collaborative working. Through a programme of regeneration, we aim to transform our tourism offering and address some of our infrastructural challenges. Our Deal’s innovative projects will bring new industry to our Borough, providing high-skilled, high-paid employment opportunities for our young people. “This is just the beginning of our journey, and I would like to personally thank all of our delivery and funding partners for helping us get to this stage.” First Minister, Michelle O’Neill MLA said it was a great opportunity to showcase the City and Growth Deals initiative. She added: “This is one of four deals covering the whole of the north with £1.3 billion capital investment over the next 10-20 years. Our four City and Growth Deals have the potential to increase the number of good jobs, promote regional balance and raise productivity which is the driver of improving living standards. “The deals are helping to create a more dynamic and competitive economy here. Importantly, the deals will have a positive impact on the quality of life for so many including our young people, our businesses, and the many visitors who flock to the Causeway Coast and Glens.” Deputy First Minister, Emma Little-Pengelly MLA reaffirmed the Executive’s support for the City and Growth Deals initiative. She said: “The projects that will be delivered through this deal will help improve infrastructure, create employment opportunities and upskill the local labour force. “The increase in key transport links will also attract more visitors to this beautiful area, creating even more opportunities for economic activity and further positioning Causeway Coast and Glens as a ‘go to’ area for business and tourism. “This multi-million pound investment is a great example of government, business and academia working together to tackle issues and make a real difference.” Lord Caine, Parliamentary Under Secretary of State for Northern Ireland said he was honoured to sign the Heads of Terms document, adding: “This Deal has the potential to provide further economic benefit, innovation and more employment for this fantastic region. I hope it can take us one step further to Northern Ireland being the best place in the world to invest. “The UK Government is committed to ensuring this area thrives, which is why we are investing £36 million to support projects which build on the region’s digital and innovation capabilities. “This will see projects such as the Centre for Food and Drug Discovery at Ulster University in Coleraine, the Business Innovation and Incubation Hub at Atlantic Link and the Innovation Hub at North West Regional College all benefit from this investment and bring exciting economic opportunities to the region and Northern Ireland as a whole.” Minister of Finance, Dr Caoimhe Archibald MLA described the signing of the Heads of Terms document as “a significant milestone”, adding: “Growing up in Coleraine, and now calling the area home, I know the positive impact this funding will have. The substantial injection of £100million into the Causeway Coast and Glens region is a game-changer for the area. “The exciting and transformative projects that make up the Growth Deal will shape infrastructure, create job opportunities and further increase the skills base. The Causeway Coast and Glens Growth Deal will produce a legacy for generations to come from Cushendall in the east right across the Borough to Dungiven in the west, the benefits will be felt right across the region.” Today’s momentous gathering at Ulster University’s Coleraine Campus provided a platform for those attending to hear how our region will be transformed by this investment and highlighted the collective vision for a vibrant and prosperous Causeway Coast and Glens Borough. Attendees had the opportunity to engage with key stakeholders, contribute to discussions shaping the region’s future, and witness firsthand the signing of this historic agreement. Professor Paul Bartholomew, Vice-Chancellor, Ulster University said: “The Causeway Coast and Glens Growth Deal represents an opportunity for transformation for the Coleraine and North Coast area. It is a tremendous opportunity for us all to take the next step, driving forward the innovative ideas that will deliver economic growth for this incredible region. As a strategic partner, we are delighted to host this important event at Ulster University Coleraine, marking this important milestone in the Growth Deal process. “Ulster University will work collaboratively with the Council and other stakeholders to deliver innovation projects and continue to develop a pipeline of talented and innovative graduates, both of which will play a significant role in the development of this region.” If you would like to read Causeway Coast and Glens Borough Council’s Heads of Terms document and find out which projects are being developed for your area, you
Leading paving and building products manufacturer, AG, has made a series of substantial investments totalling over £5.4 million to enhance its manufacturing facilities. The latest upgrades, exceeding £400k will boost production efficiency to help meet soaring demand for AG’s hard landscaping and building products while simultaneously reducing the company’s environmental footprint. Focused on modernising its factories, equipment, and technology with the construction of a new £3 million factory and £2 million wash plant revamp, the firm has announced their latest improvements which include the installation of two state-of-the-art crushers. Integral to both the production and quality of AG’s market leading products, the inclusion of crushers in its manufacturing process enables the company to harness locally sourced materials from both its Pomeroy plant and on-site quarry in Fivemiletown, ensuring a reliable, sustainable supply chain. In alignment with AG’s environmental commitment, which includes its Climate Action Pledge to decrease Scope 1 and 2 emissions by a minimum of 30% by 2030, the new crushers will optimise aggregate production across the company whilst reducing energy consumption. The cutting-edge machinery will match the output of its predecessors whilst consolidating the crushing circuits at the company’s Fivemiletown and Pomeroy sites, yielding significant carbon emission savings for AG. In addition, AG has introduced new product moulds, upgraded packaging machinery and new wrapping processes to improve performance efficiency and mitigate the company’s carbon impact across their four sites. “At AG, we are committed to delivering superior products while prioritising sustainability and innovation,” remarked Stephen Acheson, CEO. “Our latest investments underscore our proactive approach to create products that make construction better, faster and safer. By modernising our machinery infrastructure and embracing cutting-edge technologies, we are poised to meet the soaring demand the business is experiencing across commercial and domestic markets, while championing sustainable practices.” In tandem with its investment initiatives, AG has strengthened its workforce by creating new job opportunities, including the appointment of James Jack as GB Sales Director. This strategic expansion reinforces its commitment to driving sales across the UK & Ireland. Building, Design & Construction Magazine | The Choice of Industry Professionals
Quote from Ben Bannatyne, president, Prologis Europe “In the first quarter of 2024, demand for our high-quality logistics real estate remained steady across the 12 European markets where we operate. Germany and the Netherlands continue to be the strongest markets, given their high barriers to supply and strong demand. We anticipate our customers’ need for space when and where they need it most, whether that is meeting the demand of e-commerce or building data centres. We leverage our extensive ready-to-build land bank, robust financial position and super integrated logistics platform to provide a complete solution tailored to their needs.” Operating Performance – First Quarter 2024: Total portfolio: 22.5 million square metres* First quarter total leasing activity: 1,078,262 square metres: Q1 2024 rent change: 20.5%** Occupancy: 97% * includes operating, development, held for sale, other and VAA/VAC** rent change is based on lease start date GROUNDBREAKERS 2024 will be held in London GROUNDBREAKERS, Prologis’ signature thought leadership event, will take place in Europe for the first time! Last year’s event explored the electrification of everything, a rapidly changing workforce and how AI is influencing the supply chain — among other themes (view panels). This October, we’re gearing up for even more innovation, engagement and knowledge sharing in a one-of-a-kind event. Mark your calendars for October 2nd, and stay tuned for more information! Resources/Insights Prologis receives HRH The Prince of Wales’ Terra Carta Seal Building, Design & Construction Magazine | The Choice of Industry Professionals
Brookfield replicates successful platform building model to capitalize on the strong demand for warehouse space from blue-chip companies Brookfield, through its European logistics business, continues to significantly expand its platform of high-quality specialized logistics assets. This year the platform will have a gross leasable area (GLA) of 43 million square foot, as Brookfield focuses on further building its logistics footprint in its core markets, including Germany, France, the Netherlands, Poland, Spain, Sweden and the United Kingdom. Brookfield’s 2024 growth strategy focuses on leveraging its reputation as a reliable global partner for blue-chip clients and continuing to deliver state-of-the-art warehousing in response to increasing local demand. With the traditional landlord-tenant dynamics shifting, the future will trend towards more flexible, bespoke solutions. These changes are being driven by several factors, including the shift from global to nearshoring, the consolidation of supply chains, the scaling of e-commerce supply chains post-pandemic, and the need for more sustainable operations such as decarbonized logistics for warehousing. Brookfield has signed 4.3 million square foot of notable leases with blue-chip customers over the past twelve months, with the first quarter of 2024 accounting for over 3.2 million square foot of activity. These leases highlight Brookfield’s strength in the market as an investor-developer managing the full process from land sourcing and building development, through to flexible leasing and proactive property management. Dan Benhamou, Senior Vice President at Brookfield, said, “We’re not just delivering warehousing solutions; we are working with our tenants to implement their supply chain infrastructure. Our approach across the full logistics life-cycle, with in house development skills and operating capabilities, enables us to build leading platforms, for example Castignac, which is continuing to push boundaries that help our customers unlock more international growth opportunities.” For more information, please visit the website at www.brookfield.com Building, Design & Construction Magazine | The Choice of Industry Professionals
