Business : Finance & Investment News
Another Year of Investment for the Future at Omega

Another Year of Investment for the Future at Omega

In the face of a challenging year for many in the kitchen manufacturing industry, the UK’s number one furniture supplier to independent kitchen retailers, Omega invested in their future throughout 2023 with a comprehensive new development programme including, the introduction of new brand Novus, new door ranges, on trend paint

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UK Construction saw an £11.1bn fall in spending in 2023

UK Construction saw an £11.1bn fall in spending in 2023

Contracts Awarded for construction projects in the UK fell £11.1bn to £69.2bn in 2023, a 14% reduction from a record £80.4bn in 2022, according to the latest analysis from construction analysts Barbour ABI. Sectors hit by the cost-of-living crisis were particularly affected with residential housebuilding down 14%, commercial developments down

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Select Property secures £44.5m development finance from Close Brothers

Select Property secures £44.5m development finance from Close Brothers

Select Property, a leading developer, operator and investment specialist, has secured a £44.5 million development finance facility from Close Brothers to bring forward its first Affinity Living build-to-rent development in Birmingham. The leading UK merchant banking group has provided the facility to support Select Property as it ramps up development

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Odyssey Developments Extends Multi-Purpose Space in Suburban London

Odyssey Developments Extends Multi-Purpose Space in Suburban London

A mixed-use development in Molesey, Surrey, has been rejuvenated by Odyssey Developments thanks to a seven-figure property development loan from Secure Trust Bank (STB) Real Estate Finance. The property, located within Greater London, is a commercial-residential hybrid with a florist on the ground floor and two, two-bedroom flats above. Molesey,

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Roann Limited on track to record-breaking turnover 

Roann Limited on track to record-breaking turnover 

Wakefield-based granite and quartz worktop supplier, Roann Limited, is on track to achieve a record-breaking turnover in 2023, thanks to successfully securing three new projects. Roann Limited has been appointed by some of the UK’s largest house builders to provide its bestselling Silestone worktops to three new developments, which have

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Latest Issue
Issue 322 : Nov 2024

Business : Finance & Investment News

2023 Prologis Logistics Rent Index: Solid Global Rent Growth and New Leading Locations

2023 Prologis Logistics Rent Index: Solid Global Rent Growth and New Leading Locations

Introduced in 2015, the Prologis Logistics Rent Index examines trends in net effective market rental growth1 in key logistics real estate markets in North America, Europe, Asia and Latin America. Our proprietary methodology focuses on taking rents, net of concessions, for logistics facilities. This index combines the company’s local insights on market pricing dynamics with data from our global portfolio. Rental rates at the regional and global levels are weighted averages based on estimates of market revenue. Global logistics real estate rent growth totalled 6% in 2023, underscoring the resilience of logistics real estate fundamentals. Nearly all markets globally recorded positive real rent growth, amid positive demand, low vacancy, and the need to evolve supply chains in response to changing consumer expectations, operational challenges and persistent disruption. Global Takeaways Data Pertinent to Europe for 2023 Eva van der Pluijm-Kok Vice President, Research & Strategy, Europe adds: “Looking ahead, Europe is likely to see a lower peak in the vacancy rate during the upcoming mini-cycle because new construction starts fell earlier than in the U.S. and other global markets. Improvement in the demand backdrop could cause rent growth to reaccelerate quickly as scarcity returns to many markets on both the Continent and in the UK.”  You will find the full research here. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Arup celebrates multi-million-pound Birmingham investment in its largest UK office outside London

Arup celebrates multi-million-pound Birmingham investment in its largest UK office outside London

Global engineering consultancy Arup has officially opened its new Midlands base – one of its five largest global hubs – at Paradise Birmingham’s One Centenary Way, welcoming clients and contacts to mark the occasion. Arup was a major contractor to Birmingham City Council supporting it to deliver the Birmingham 2022 Commonwealth Games, helping to deliver the Alexander Stadium, transport and infrastructure improvements city wide, as well as the Perry Barr masterplan, and the Sandwell Aquatics Centre.  Establishing a national and international centre of excellence for Arup in the Midlands, with nearly 800 staff and offering more than 90 specialist services UK-wide, the multi-million-pound investment cements Arup’s commitment to Birmingham and the region as a global business destination.   Last year, the local Arup team worked on hundreds of projects locally and globally, supporting the delivery of more sustainable buildings, infrastructure, public spaces, and communities, and bringing the best of global expertise to the area. Arup’s move to the city centre is designed to attract local talent and aid the growth of the West Midlands as an innovation and skills hub.   The new office location will bring Arup closer to schools, colleges and universities, ensuring stronger links to education and more opportunity to attract, grow and retain diverse industry talent locally. Based in the heart of the city, Arup’s public-facing activity hub on the ground floor, ‘The Gallery’, will be a space Arup staff are able to work alongside local partners and neighbours to deliver community based, and charitable activities.  Speaking at the launch event, Andy Street, Mayor of the West Midlands, said: “Arup’s move back into the heart of Birmingham city centre is a tremendous endorsement of all that our region has to offer a global player of Arup’s stature.   “This kind of major investment is just the type we envisaged when we worked on the Enterprise Zone more than a decade ago – bringing to life our vision of a new city business district generating jobs for local people.  “I know that this announcement will help equip young people from a wide variety of backgrounds with the skills, apprenticeships and opportunities they need to succeed. I cannot wait to see lives changed for the better in the months and years ahead. My thanks to Arup for helping to make that possible.”  Understanding that the future office needs to compete with highly personalised home working arrangements, a variety of workplace settings, social areas, wellbeing areas, creative spaces and focus zones have been provided in the new Arup Midlands HQ. The new range of flexible workspaces is designed specifically to support collaboration, convening stakeholders and hosting events.  Cem Budak, Arup Midlands Leader, said: “We are excited to officially open our new Midlands hub located in the heart of Birmingham, the UK’s second city. We are eager to build on six decades of expertise in Midlands and the opening of the new office will bring us closer to key decision-makers, clients and collaborators, helping to foster innovation and creativity across the region.  “We helped to shape and design the space at One Centenary Way, which is undoubtedly one the finest commercial locations in the city. It is a space that our people already love working in and which helps them to engage with our clients and communities while exporting Birmingham skills and expertise around the world.”  The new office plays a significant role in Arup’s ambition to reach net zero carbon by 2030. Arup worked closely with developer MEPC on One Centenary Way, which is the first building within the Paradise estate with all-electric heating and hot water systems, as well as SMART technology that enables continuous office adaptations around utilisation, comfort, and energy consumption.   James Watts, Arup Birmingham Office Leader, said: “We are very proud that our new office is a showcase for our commitment to delivering sustainable solutions and our net zero carbon aspirations. We anticipate that our move will reduce travel emissions by over 60% and we will save over 1,100 tonnes of CO2 a year from our own staff commutes. Initiatives such as biophilic design, natural sheep wool wall insulation and a recycled material pallet will put our circular economy values into action while increasing staff connectivity with nature.  “In addition, the office also ensures our knowledge and global expertise are easily accessible to local clients and collaborators, allowing us to continue to provide innovative solutions and long-lasting value.”  Arup’s work in the Birmingham region for the last 60 years has helped shape the local landscape including major public buildings and developments from the NEC and ICC to commercial office buildings and new public realm like that created at Brindley place and Paradise in Birmingham. Arup’s major role in delivering the Birmingham 2022 Commonwealth Games and supporting infrastructure in and around Birmingham helped secure a meaningful legacy for the Games in the Midlands.  Building, Design & Construction Magazine | The Choice of Industry Professionals

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M&S announces £30m investment into Scottish estate

Marks & Spencer’s £30 Million Investment Fuels Expansion Across Scottish Retail Landscape

Marks & Spencer has announced a £30 million investment in its Scottish physical stores, with plans to introduce five new and expanded locations within the next 18 months. As part of this initiative, a £15 million injection is earmarked for Aberdeen Union Square, where the store’s footprint will nearly double. Representing one of the most substantial private sector investments in Aberdeen in recent years, the upgraded store will feature a market-style food hall, along with expanded clothing, home, and beauty departments. Set to open in spring 2025, this establishment will rank as the fourth-largest M&S store in Scotland. Rachel Rankine, M&S’s North East regional manager, expressed confidence in Aberdeen’s retail future, stating, “The scale of our investment is a vote of confidence in the future of retail in Aberdeen city centre, with a flagship store on the same scale as city centre stores in Birmingham and Liverpool.” In addition to the Aberdeen development, M&S will unveil a food hall in Linlithgow later this month and launch a full-line store in Dundee’s Gallagher Retail Park this summer. Furthermore, the retailer will make its debut in Largs with a new food hall scheduled to open in early 2025. This £30 million investment supplements the £32 million already invested in eleven Scottish stores over the past four years, which includes the introduction of new food halls in Paisley, Hamilton, and East Kilbride. The investment aligns with M&S’s goal to become the UK’s leading omnichannel retailer. The company aims to transition 247 existing stores into 180 higher quality, higher productivity full-line stores while also establishing over 100 food sites by the 2027/28 financial year. In addition to this current investment, M&S has inaugurated eleven new and revamped stores in Scotland over the past four years, including new food halls in Straiton (Edinburgh), Hamilton, Falkirk Central, Cumbernauld, East Kilbride, and Paisley. This also involves renewals and expansions in Glasgow Silverburn, Edinburgh Gyle, Anniesland, Glasgow West End, and Bishopbriggs. Furthermore, two convenience stores recently opened in Glasgow Battlefield and Glasgow Queen Street. Earlier in the year, fellow retailer Aldi unveiled plans to invest £56 million in its Scottish portfolio, intending to open three new stores in 2024. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Another Year of Investment for the Future at Omega

Another Year of Investment for the Future at Omega

In the face of a challenging year for many in the kitchen manufacturing industry, the UK’s number one furniture supplier to independent kitchen retailers, Omega invested in their future throughout 2023 with a comprehensive new development programme including, the introduction of new brand Novus, new door ranges, on trend paint colours and the launch of a custom panel service. Omega CEO Simon Barber said, “2023 was an exciting year for Omega with the launch of Novus, many great new product developments across our brands and a range of initiatives designed to support our retail and contracts partners.  As a business we continually look to the future believing investment in product, technology and people is what drives us forward.  The start of 2024 will see the completion of a £1 million project to improve our sales processes to benefit both our contracts and retail customers.” Once complete the investment will deliver an even more efficient service solution for all customers and a bespoke commercial system for contracts partners. Novus is the modern leading-edge solution in handless kitchens characterised by a clean, and sleek aesthetic, manufactured in the UK. The minimalist kitchen was designed to compete with the handless kitchen trends established by European suppliers and offer customers flexibility and choice whilst ensuring ease of installation and guaranteed delivery. Speaking about the launch Omega Retail Sales Director James Bishton says, “It’s exceeded the expectations of both our new and existing customers who are looking for a UK sourced option for contemporary kitchens.  Without exception all prospective customers visiting Omega for the first time to see the brand, showroom and facility wish they’d done so sooner.” Omega have expanded on the launch phase of Novus with the introduction of Custom Size Panels across all of their brands, allowing customers to order the specific panel requirement to suit any design giving them greater flexibility, reduced waste on site and lower costs.  James Bishton continues, “Novus has helped us capture new customer sales and seize market share since its launch in Summer 2023. Our new partners have also successfully engaged with our existing painted shaker kitchens, to widen their own offers aligned to core UK market trends.” Commenting on the impact of Novus on the Contracts Market Omega Contracts Sales and Operations Director Katy Snow said, “Since the launch in May 2023, Novus has generated great interest from our contract developers on both housing developments and Major Project apartment schemes, including Berkeley Eight Gardens Development the first to showcase Novus in volume.  Novus differentiates our contract customers from other developers in their area which demonstrates a value-added proposition to potential home buyers. Omega’s robust supply chain, large stock holding and excellent design and manufacturing capabilities in the business has also supported several new customers from site takeovers delivering kitchens on very short lead times.” In support of their customers, in October 2022, Omega pledged that their prices would remain fixed for 16 months providing partners with much needed price stability during a time of economic uncertainty and challenges. The latest announcement sees that price freeze extended until 5th April 2024. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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UK Construction saw an £11.1bn fall in spending in 2023

UK Construction saw an £11.1bn fall in spending in 2023

Contracts Awarded for construction projects in the UK fell £11.1bn to £69.2bn in 2023, a 14% reduction from a record £80.4bn in 2022, according to the latest analysis from construction analysts Barbour ABI. Sectors hit by the cost-of-living crisis were particularly affected with residential housebuilding down 14%, commercial developments down 15% and Hotel and Leisure falling dramatically by 29%. A lack of confidence in the market was also reflected in applications for new construction projects, which fell by 16% to under £100bn. Housing applications are now 21% down on pre-pandemic levels. Barbour Consulting Economist Kelly Forrest commented: “2023 was challenging for the UK construction sector. In addition to viability challenges from higher construction costs and borrowing rates, consumers and business confidence remained weak. 2023’s good news stories were largely confined to the public sector as the government’s flagship school and hospital building programmes finally started to build some momentum amid moderating cost inflation and mounting political pressure.” Barbour ABI found that education awards bounced back to £6.1bn in 2023, a 20% uplift compared with 2022, and a 19% increase from 2019. Meanwhile, Healthcare beat 2022 by 4% and is now 160% higher than pre-pandemic levels. Forrest continued: “Overall weakness concealed pockets of buoyant sub-sector activity. Energy was a particular bright spot as investment poured into energy from waste and energy storage facilities, along with offshore wind.” Infrastructure Infrastructure spending, including government-funded projects, remained an important crutch for the industry in 2023. Contract awards fell 22% to £15.2bn but remained 47% higher than in 2019. Energy projects were a big driver. Windfarms, battery storage facilities and large waste-to-energy contracts all helped maintain awards momentum. Meanwhile, applications remained 62% higher than pre-pandemic levels and analysis of demand side approvals, still double pre-pandemic levels, suggests infrastructure will continue to perform in 2024. Looking ahead Forrest concluded: “In early 2024 there are a few reasons to be optimistic. Interest rates are likely to have peaked and inflationary pressures have eased markedly. Entering what is very likely to be an election year there is a risk there will be a hiatus in public sector investment as key decisions are postponed. The speed and resilience of the private sector recovery will be pivotal.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Commercial construction lending forecast to drop for ninth consecutive year

Commercial construction lending forecast to drop for ninth consecutive year

Lending for commercial construction is expected to fall for the ninth year in a row, underlying how demand for office space and high street retail has declined over the period. The analysis comes from specialist property lending experts, Octane Capital, which compared lending levels across different areas of the property construction industry over the past decade using data from the Bank of England. Octane then estimated where total lending would sit come the end of 2023 based on the current data available (Jan to November).  The analysis shows that the average monthly amount outstanding across the commercial construction lending sector has gradually fallen from £5.11 billion in 2014 to £3.383 billion in 2022, a drop of 34%. Octane Capital estimates that 2023 will see this figure fall by a further -2.6% in 2023 to £3.30 billion, following on from an annual decline of -4.3% in 2022 and a minor reduction of -0.8% in 2021. Rental recession and challenging year for retail Last year office rentals in London were said to be in “rental recession” due to the number of empty workspaces, as the pandemic has facilitated a growing work from home and flexible working culture. Meanwhile the high street has struggled to compete with the growth of online retail for some time, while consumers are currently being squeezed by the cost of living crisis. In January the The British Retail Consortium warned that retailers are set for a “challenging” year in 2024 due to “weak consumer confidence. Overall construction lending dips for second consecutive year The analysis by Octane Capital also shows that lending across the construction sector as a whole is forecast to fall for a second consecutive year in 2023, as interest rate rises made borrowing gradually less affordable. Octane Capital estimates that the average monthly total of outstanding lending will reach £33.26 billion in 2023, marking a -7.1% drop from the year before, while in 2022 there was also a drop, at -4.0%. The second consecutive annual decline follows the Bank of England base rate hike from 0.25% to 5.25% between December 2021 and August 2023, making the cost of borrowing far more expensive for construction and development firms. Development down but domestic construction sees uplift Commercial lending for the development of buildings – which encompasses structural alterations, demolitions and rebuilding – has been on the steady decline since 2021.  Octane Capital estimates that some £12.74 billion of outstanding lending will be recorded in 2023, which will again result in a drop of -7.9%, following previous yearly falls of -5.3% in 2022 and -4.3% in 2021. Lending for domestic construction – a dwelling where more than one family unit lives – is the only construction type expected to go against the grain. After dropping off by -19.8% in 2021 it recovered by 9.2% in 2022, and is estimated to climb by 1.7% in 2023, as is forecast to sit at £6.04 billion for the year. CEO of Octane Capital, Jonathan Samuels, commented: “Demand for commercial construction lending has seen a consistent decline in recent years, with the average monthly amount outstanding falling by 34% between 2014 and 2022 and expected to fall further in 2023.  “While the pandemic accelerated the trend for more businesses to embrace hybrid working, it must have come as a shock to the office sector, as it’s ultimately businesses paying competitive rents that justify these construction projects. “Another factor hitting construction is the cost of financing, as it’s becoming harder for developers to make a good return on their investment given that interest rates are relatively high. “One positive is that interest rates now look to be falling again, so it could become more affordable for developers to fund projects in 2024 and beyond, which should help cultivate some growth, albeit this will likely remain subdued versus historic highs.” Data tables and sources Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Select Property secures £44.5m development finance from Close Brothers

Select Property secures £44.5m development finance from Close Brothers

Select Property, a leading developer, operator and investment specialist, has secured a £44.5 million development finance facility from Close Brothers to bring forward its first Affinity Living build-to-rent development in Birmingham. The leading UK merchant banking group has provided the facility to support Select Property as it ramps up development of its new 266-unit property, Affinity Living Lancaster Wharf. Due to complete in Q3 2025, the build-to-rent specialist has already sold out Lancaster Wharf’s apartments to investors, securing £77 million in sales. Located just a 10-minute walk from Snow Hill Station and Colmore Row, it is Select Property’s first Affinity Living residence in Birmingham, having established a strong reputation across its four existing properties in Manchester. Its ethos focuses on providing high-quality, community-led and resident-centric homes in the heart of some of the UK’s most vibrant regional cities. In a recent survey of its 1,300 residents across its four Affinity Living properties in Manchester, 75% said they would choose to stay at Affinity Living when their tenancy came to an end, showcasing the strength of the brand’s offering. Close Brothers has supported Select Property on a number of projects over the last decade, including Affinity Living Riverside and Riverview in Manchester. Adam Price, CEO at Select Property, said: “We are very proud of the Affinity Living experience that we have created and developed in Manchester city centre. Given its success, we knew it was the right time to bring our proposition to new markets and Birmingham was the perfect place to do so given the continued growth of its young professional population. “Our new property at Lancaster Wharf will provide best-in-class rental homes in an unrivalled location with community at its heart, so we have no doubt that resident demand will mirror the demand we have seen from investors for this development. “Close Brothers has been an invaluable partner to us in this project, working quickly to provide us with the support we need to see the development through to completion.” Simon Powell, Director at Close Brothers, added: “We have worked with Select Property for many years and have forged a strong relationship with their highly experienced team, and are delighted to be supporting them on yet another fantastic scheme. Situated within an area of major regeneration, Lancaster Wharf will provide much-needed, high-quality apartments for the rental market that will complement the ongoing improvements in the wider area. “We have supported housebuilders and developers for over 40 years and look forward to continuing to do so over the coming years with experienced partners like Select Property.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Odyssey Developments Extends Multi-Purpose Space in Suburban London

Odyssey Developments Extends Multi-Purpose Space in Suburban London

A mixed-use development in Molesey, Surrey, has been rejuvenated by Odyssey Developments thanks to a seven-figure property development loan from Secure Trust Bank (STB) Real Estate Finance. The property, located within Greater London, is a commercial-residential hybrid with a florist on the ground floor and two, two-bedroom flats above. Molesey, situated on the south bank of the River Thames, is just minutes from Hampton Court Palace, and takes 35 minutes to reach central London via train. The second floor of the building was recently added using STB’s loan, alongside a further two detached houses built on the remainder of property’s land. The deal was agreed thanks to STB’s approachability and thorough understanding of the real estate market. Signed under an 18-month term, the loan itself is structured as one of STB’s popular residential property development loans, used to support with the heavy refurbishment of residential development sites. STB Relationship Director, Paul Scagliosi, orchestrated the deal with Odyssey Developments, with a LTGDV of 59% and a 74% LTC, taking just six weeks to complete. John O’Neil, Director at Odyssey Developments, said: “It’s important for us at Odyssey Developments to have a trusted financial institution that understands our needs and is able to turn around the necessary requirements and funding for a project in a speedy manner. Secure Trust Bank executed this superbly. “Our new build houses which were constructed through the less desirable autumn and winter months were fully completed and sold in 26 weeks with no delay or overrun. Much of this was only achievable due to our close working relationship with STB. “Our appreciation and gratitude go out to those personnel at STB who worked so closely with us on this very successful project. We look forward to working with STB again soon, on our next housing proposal.” Paul Scagliosi, Relationship Director at STB Real Estate Finance, said: “This development has been rewarding and very fun to work on. We have come away with a great working relationship, and four high-quality homes within touching distance of London. John and the team at Odyssey are brilliant to work with, exceptionally skilled at what they do and are all-round nice people. The tailored approach and process was smooth given its complexity, and I’m glad we were able to contribute to a great, practical development.” For more information about Secure Trust Bank Real Estate Finance, please visit https://www.securetrustbank.com/business-finance/real-estate-finance Building, Design & Construction Magazine | The Choice of Industry Professionals

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National Home Decarbonisation Group welcomes latest Government Energy Efficiency Funds

National Home Decarbonisation Group welcomes latest Government Energy Efficiency Funds 

Derek Horrocks, chair of the National Home Decarbonisation Group, said: “This announcement is another incredibly positive step towards decarbonising the housing stock up and down the country – and one we welcome with open arms at the NHDG.   “We’re pleased to see that along with the public sector, private owner-occupier and private landlords will benefit from this funding, with an extra £1.5 billion for the Boiler Upgrade Scheme, and a new energy efficiency grant providing £400m to households in England.  “The extra funding for the Boiler Upgrade Scheme gives the opportunity to tie this £7,500 offering into whole-house decarbonisation proposals for householders, which alongside ECO for fabric measures should create an attractive large-scale offering. This is alongside multiple other heat transformation schemes, and a new £500m local authority retrofit scheme to support 60,000 low-income and cold homes, including those off the gas grid.   “Meanwhile, we’re especially pleased to see £1.25 billion for the Social Housing Decarbonisation Fund within the funding, which will be match-funded to create £2.5 billion between 2025 and 2028. This is something we called for in the Autumn Statement and will give us that longer term to develop the area-based approach and use the economies of scale it affords.   “The past five years have seen more government investment in decarbonisation than ever before. Excellent progress has been made, with nearly 50% of properties in England now having an Energy Performance Certificate (EPC) of C – up from just 14% in 2010. The government has now committed to spend £12.6 billion by 2028, a move that will genuinely make a difference to thousands.   “Since our inception earlier this year, we made a concerted effort for this funding to be committed to, by writing directly to the Prime Minister, as well as making a request for this ahead of the Autumn Statement. We firmly believe that the decarbonisation of homes is about so much more than achieving net zero but rather it is also about supporting millions of people facing the impacts of the cost of living, energy, and health crises, which this announcement highlights.   “This funding will provide the all-important long-term certainty for businesses within the sector too. This is again something we have spoken publicly about in recent months and called on the Prime Minister himself to assure. With more than £12 billion now committed, industry can be confident in making the investments needed for innovation and expanding the supply chain that will deliver this critical work.   “As a group, we know the power we have together, with an estimation that 80% of the large-scale domestic retrofit in the UK will be carried out by our members. In 2024, we know we have a huge opportunity to work closely with the government on shaping policy through our growing partnership with DESNZ. Our working groups are established and already working towards achieving real outcomes together, and we look forward to continuing our position as a key driver for net zero – and of social change too.”  To learn more about the NHDG, its aims and its members, please visit the website at: https://www.nhdg.org/  Building, Design & Construction Magazine | The Choice of Industry Professionals

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Roann Limited on track to record-breaking turnover 

Roann Limited on track to record-breaking turnover 

Wakefield-based granite and quartz worktop supplier, Roann Limited, is on track to achieve a record-breaking turnover in 2023, thanks to successfully securing three new projects. Roann Limited has been appointed by some of the UK’s largest house builders to provide its bestselling Silestone worktops to three new developments, which have a combined value of £180,000, with the potential for this amount to increase by up to 20% with upgrades. Among the projects is Highcroft, a Oxfordshire-based development of 33 new build homes by St Joseph Homes (a division of Berkeley Group), and Lime Grove, a Lincolnshire-based development by Bowbridge Homes, which includes a total of 68 new build homes. Roann Limited has also been selected as the exclusive worktop provider for Sunbeam, a former factory in Wolverhampton which is being converted into 180 modern apartments by Kuche Contracts. Silestone, a sustainable surface containing a minimum of 20% recycled materials, is made using 100% renewable electrical energy and 99% recycled water. The worktops are extremely hard-wearing, making it an ideal choice for contemporary family homes. The company’s success in securing these projects is testament to its unrivalled focus on quality, innovation and client satisfaction. As the year draws to a close, Roann Limited is poised to celebrate a record-breaking turnover and financial year, reflecting the company’s sustained growth and prominent position in the kitchen worktop manufacturing industry. “We are thrilled to announce our recent success in securing three new projects,” said Scott Wharton, Operations Director at Roann Limited. These accomplishments affirm our commitment to delivering high-quality worktop solutions to our clients, whilst positioning us for our most successful year to date. It’s a very exciting time for us here.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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