Peel Group has launched a £582 million cash bid to acquire Harworth Group, offering shareholders 172.5p per share in a move that could reshape the future of one of the UK’s leading brownfield regeneration and strategic land developers. The offer values the listed developer at approximately £582 million and comes as Peel, already Harworth’s largest shareholder through subsidiary Goodweather Holdings, looks to take full control of the business. Goodweather currently owns around 29.96% of Harworth’s issued share capital. Harworth has established itself as a major player in the UK’s regeneration sector, with a portfolio comprising modern industrial and logistics assets alongside extensive strategic land holdings across the North of England and the Midlands. The business has played a significant role in transforming former industrial sites into employment, residential and mixed-use developments, including securing planning approval last year for its £190 million Gascoigne Interchange scheme. However, Peel believes the company’s current financial model is becoming increasingly difficult to sustain, citing rising administrative and financing costs alongside weakening recurring rental income. For the year ending 31 December 2025, Harworth reported administrative expenses of £36.34 million and net interest costs of £10.6 million, representing increases of 9.5% and 58.2% respectively compared with the previous year. During the same period, rental income from its investment portfolio fell by 7% to £14.7 million. Peel argues these figures demonstrate growing pressure on Harworth’s cash flow, with operating and financing costs significantly exceeding the income generated from its investment portfolio. The proposed acquisition also reflects Peel’s view that Harworth’s stock market listing no longer provides meaningful strategic benefits. The investor points to the company’s concentrated shareholder base, with the three largest shareholders controlling approximately 75.7% of the business, limiting trading liquidity and reducing the advantages typically associated with being publicly listed. Peel further noted that Harworth has not raised new equity for almost a decade and believes current market conditions, combined with what it describes as a persistent discount to the company’s underlying value, make future equity fundraising unlikely to deliver attractive returns. The cash offer represents a substantial premium for shareholders, equating to 36.9% above Harworth’s one-month volume-weighted average share price and 36.0% above the three-month average. For the construction, development and property sectors, the proposed acquisition could have significant implications. Harworth has become one of the UK’s foremost brownfield regeneration specialists, delivering large-scale industrial, logistics, residential and mixed-use developments that support regional economic growth while unlocking previously underutilised land. Should the transaction proceed, Peel would gain full ownership of a substantial regeneration pipeline and strategic land portfolio, further strengthening its position within the UK’s development and regeneration market. The proposed takeover also highlights the continuing attractiveness of long-term regeneration assets, as investors seek to secure development opportunities capable of delivering future residential, commercial and industrial growth across key regional markets. Building, Design & Construction Magazine | The Choice of Industry Professionals

Mears has strengthened its position as one of the UK’s leading housing maintenance providers after securing more than £1.4 billion of new work during the first half of the year, driving its order book to a record £4.2 billion. The public sector housing specialist continues to expand its long-term maintenance portfolio after a series of major contract awards and renewals, reinforcing confidence in the company’s strategy despite a temporary dip in profits linked to the mobilisation of new contracts. Revenue reached £560 million during the period, while adjusted pre-tax profit stood at £29 million. Although margins eased slightly to 5.2% from 5.6%, the company attributed this to the costs associated with mobilising several significant long-term contracts. Among the largest awards was a landmark 10-year, £450 million contract with Birmingham City Council. Under the agreement, Mears will deliver a comprehensive range of housing services, including responsive repairs, void property works, gas servicing, heating installations and planned maintenance across the authority’s housing stock. The company also secured a further 10-year contract with Rooftop Housing Group worth £150 million, providing repairs and maintenance services to approximately 7,000 homes across South Worcestershire and North Gloucestershire. Alongside these new appointments, Mears successfully retained several key long-standing partnerships, including contracts with Cross Keys Homes, Livin, Leeds City Council, Moat Homes and Thurrock Council. Together, these renewals contributed more than £1 billion of additional work to the company’s expanding pipeline. For the construction and housing sectors, the results underline the continued demand for long-term asset management, planned maintenance and compliance services as housing providers invest in improving existing homes, enhancing building safety and maintaining regulatory standards. Mears also completed the integration of consultancy Pennington Choices during the period, strengthening its expertise across compliance, asset management and building safety services. The acquisition enhances the group’s ability to provide integrated solutions to local authorities and registered housing providers. In line with its strategic focus on housing, the company also completed the sale of its non-core facilities management business for £18 million, allowing it to concentrate resources on its core maintenance and housing services operations. Chief Executive Lucas Critchley said: “Mears has continued to make strong progress against its key strategic objectives.” The company also noted that an intensive two-year programme of rebidding existing contracts has now largely concluded. As a result, its bidding teams are increasingly able to focus on pursuing new opportunities rather than defending existing work, providing further potential for future growth. Looking ahead, Mears has reaffirmed its full-year guidance, forecasting revenue of around £1.04 billion and adjusted pre-tax profit of approximately £51 million. With a record order book, strengthened building safety capabilities and a growing portfolio of long-term maintenance partnerships, Mears appears well positioned to play an increasingly significant role in supporting the management, maintenance and improvement of the UK’s public housing stock. Building, Design & Construction Magazine | The Choice of Industry Professionals

Leading commercial real estate firm, CBRE, has successfully completed the sale of 115,000 sq ft industrial site in a multi-million pound deal on behalf of the seller, Noble Foods. Previously used as an egg-packing facility, the self-contained site features all the necessary facilities for a manufacturing operation including two office buildings, two warehouses, 19 loading bays and additional storage buildings. The site also came with 15.2 acres of vacant land with outline planning permission to build additional warehouses already granted. Based in the heart of Oxfordshire’s industrial hub, the site is adjacent to Lakeside Industrial Estate in rural Witney. It also has excellent connections, with access to both the A40 and A420, making it easy to get to nearby Oxford, only 13 miles away, and beyond. Will Davis, associate director at CBRE, said: “This deal reflects the strong demand for industrial space both in Witney and across wider Oxfordshire. A self-contained site of this size is incredibly rare, especially in such a popular location. The fact it came with outline planning permission for additional warehouses was the cherry on top and made it the perfect site for a business looking to expand its operations.” Will Cadbury, Chief Financial Officerat Noble Foods, said: “When our Witney site became surplus to requirements, we were keen to find the right buyer who would be able to make the site purposeful again. The sale marks the start of an exciting new chapter for the Witney site and we’re grateful to CBRE for their support in structuring this deal.”   Building, Design & Construction Magazine | The Choice of Industry Professionals

Grosvenor has reported a strong first half of 2026 across its prime central London portfolio, completing 58 leasing transactions spanning more than 80,000 sq ft as demand continues to grow for premium retail, hospitality and commercial space in Mayfair and Belgravia. The property company secured £5.4 million in annual rental income through a combination of new lettings and lease renewals, reinforcing the resilience of two of London’s most prestigious mixed-use neighbourhoods. During the six-month period, Grosvenor completed 37 new leases alongside 21 renewals across its retail, hospitality and office portfolio. New agreements were achieved at rents 9.4% above estimated rental value (ERV), while overall leasing activity outperformed expectations by 7.8%. The performance has helped maintain portfolio occupancy at an impressive 97%, with retail vacancy standing at just 2.6%—significantly below the wider West End retail vacancy rate of 12.2%. For the construction and property sectors, the results demonstrate the continued strength of well-managed, mixed-use destinations where long-term investment in public realm, heritage buildings and carefully curated occupier mixes continues to attract businesses despite wider challenges across parts of the retail market. Mayfair has continued to attract leading international and independent brands seeking flagship London locations. Jewellery brand FoundRae has selected Mount Street for its first UK store, while skincare specialist Melanie Grant will open a new clinic at 129 Mount Street. The area’s hospitality offering has also expanded, with Persian restaurant Berenjak opening on Duke Street following the successful arrival of Crisp at The Marlborough on North Audley Street last year. Meanwhile, Belgravia continues to evolve as a destination for independent retailers, restaurants and lifestyle brands. Eccleston Yards welcomed Weezies, a new restaurant from the team behind neighbouring Amie Wine, while London Epicerie is preparing to open on Ebury Street. Elizabeth Street has recently welcomed jewellery designer Sophie Breitmeyer, while Onyx Matcha Club is due to launch on Motcomb Street later this summer. Pimlico Road has further strengthened its reputation as a destination for interiors and design, with new occupiers including auction house Roseberys and antiques specialist Molly Alexander. The latest leasing activity reflects Grosvenor’s long-term strategy of creating vibrant mixed-use neighbourhoods that combine premium retail, hospitality, workspace and high-quality public realm, supporting both commercial performance and the wider appeal of central London. Amelia Bright, Executive Director of the London Estate at Grosvenor, said: “Our strong performance so far this year reflects the value of a long-term approach to stewardship. We actively shape and curate our neighbourhoods, bringing together the right mix of retail, hospitality, workspace and public realm to create places where people and businesses want to be. The strong demand we’re seeing, reflected in our leasing performance, is a direct result of that approach. We’re also seeing more leading international brands choose Mayfair and Belgravia for their first UK locations, reinforcing both the appeal of our neighbourhoods and London’s global reputation. “Mayfair and Belgravia are part of what makes London one of the world’s great cities, and we’re proud of the role we play in helping them evolve. By continuing to invest for the long term, we’re ensuring these neighbourhoods remain vibrant, attract businesses, talent and visitors, and continue to thrive for generations to come.” The results underline the enduring strength of London’s prime mixed-use districts, where strategic placemaking, heritage-led investment and a carefully balanced mix of commercial, retail and hospitality uses continue to drive strong occupier demand and long-term investment confidence. Building, Design & Construction Magazine | The Choice of Industry Professionals

McAvoy has been appointed as an approved supplier to the Everything Estates framework, a fast, compliant and flexible procurement solution supporting the delivery of estates services across the public sector. Available to public sector organisations, devolved administrations and third-sector entities, Everything Estates provides an efficient route to appointing approved suppliers, either directly or through a streamlined mini competition. The framework combines public sector compliance and social value with a commercially focused approach, designed to reduce unnecessary bureaucracy and procurement timescales. McAvoy’s appointment reflects the growing role of offsite manufacturing in helping public sector organisations respond to changing estates requirements. By designing and manufacturing buildings in a controlled factory environment before they are installed on site, offsite solutions can meet both interim and permanent needs, providing a fast, adaptable and high-quality approach. Ciara McVeigh, Head of Bid Management at McAvoy, said: “Our appointment to the Everything Estates framework provides public sector organisations with a compliant and efficient procurement route to access McAvoy’s adaptable space solutions. “The ability to appoint suppliers directly can significantly reduce procurement timescales and help organisations respond more quickly to capacity pressures, replace ageing facilities, and deliver new accommodation with greater certainty. “We look forward to working with public sector partners through the framework and supporting the delivery of buildings that provide long-term value for the communities they serve.” Claire Delaney, Managing Director of Everything Estates, said: “Quite simply, Everything Estates gives control to our clients by allowing customers to obtain the best value for money based upon their requirements and not those that are pre-determined by the framework operator.  It removes unnecessary bureaucracy and creates a time efficient route for procurement, which delivers enhanced ROI for all parties.” Everything Estates was established by Hornchurch Academy Trust and is operated by Place Group Limited, which has over 25 years of experience supporting innovation and social value in the public sector. Further information about the framework is available at www.place-group.com For more information on McAvoy frameworks, please visit: https://www.mcavoygroup.com/who-we-are/frameworks-collaboration/ Building, Design & Construction Magazine | The Choice of Industry Professionals

GB Bank has provided a £20.5m structured funding facility to support a specialist funding partner in the acquisition of a 214-unit residential portfolio in the North West. Working closely with the funding partner, GB Bank established a bespoke structure designed to support the transaction while meeting the commercial objectives of all parties. The facility was structured at 75% LTV with an agreed exit strategy involving the division of the portfolio across four SPVs to facilitate a flexible refinance, while supporting the ongoing management of the portfolio. The transaction also involved a detailed assessment of the portfolio’s rental income, with all 214 properties fully occupied at completion and generating immediate income. Alongside this, GB Bank considered the borrower’s wider financial position, including personal liquidity and surplus rental income, as part of its underwriting process. The transaction highlights GB Bank’s ability to work alongside partners by providing tailored solutions that support larger and more complex property transactions. Working in partnership with the funding partner, GB Bank structured a funding solution that supported the underlying bridging facility whilst ensuring valuation, credit and completion requirements were met. Hardik Gogia, Relationship Manager at GB Bank commented: “As specialist lending continues to evolve, lenders increasingly require funding partners that can provide flexible capital solutions for larger and more complex transactions. “This transaction demonstrates our ability to work alongside specialist lenders, providing tailored funding solutions that enable them to deliver complex bridging transactions with confidence. By combining commercial thinking with responsive decision-making, we’re able to support lending partners on opportunities that require a more bespoke approach. “Our structured funding capability is designed to complement the expertise of specialist lenders, giving them confidence that they have a responsive funding partner capable of supporting complex transactions without compromising on speed or service.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Poor project data is becoming a significant productivity challenge for UK construction, with teams losing the equivalent of more than eight working weeks a year searching for fragmented information.1 New data from a survey of construction professionals by Procore and Dodge Construction Network found that alongside searching for information, 28% of project time on average is lost to rework – partly down to a lack of real-time visibility and teams working from outdated documentation and drawings, leading to issues further down the project lifecycle. Often, financial and project data is spread across multiple unlinked systems, such as Enterprise Resource Planning (ERP) platforms, Building Information Modelling (BIM) platforms, function-specific software solutions, email chains, spreadsheets, site records, and outdated drawings. As a result of these productivity drains, as much as a quarter of project value (25%) is lost through disconnected delivery. Recent reporting from RICS also identifies documentation, scheduling and coordination, and changes and variations as some of the biggest barriers to productivity across the UK construction sector – all of which are impacted by project data. “Construction is under constant pressure to deliver more with fewer people, tighter programmes and increasing complexity. Yet too much time is still spent searching for information instead of making decisions,” said Brett King, Director of Industry Transformation, EMEA, Procore. “The real opportunity is to connect everyone involved in a project, from the boardroom to the site, through the same live project information. When leaders and project teams have the same visibility, communication improves, decisions are made faster and issues can be addressed before they become costly problems. It’s not just about connecting data. It’s about connecting people.” The research suggests that tackling fragmented project information can significantly reduce many of these issues. Respondents using a Connected Data Environment (CDE), which brings project information together in a single system, reported better collaboration between office and site teams. As a result, 92% of construction teams reported improved data accuracy, while the same proportion said miscommunication errors had fallen. The findings suggest that the biggest gains come not just from digitising information, but from giving every project team access to the same reliable data and a more consistent way of working. Nearly half (49%) of construction teams said they reduced the cost of additional work that couldn’t be billed because of poor documentation or delayed approvals by between 21% and 30% after implementing a CDE. Respondents also reported improvements in day-to-day project delivery. Nearly all (97%) said project data was more visible and actionable, while 92% reported spending less time on manual administration and data reconciliation, enabling faster decision making and reducing the need for duplicate work. Those efficiencies also led to additional capacity being made available. More than half (57%) of respondents said they were able to manage between 21% and 30% more construction work without increasing headcount. About the research This report is based on survey data commissioned by Procore and collected by Dodge Data & Analytics from 688 construction professionals across the UK and Ireland – including Main Contractors, owners, and subcontractors. The study was conducted to investigate the return on investment that clients and contractors experience from their use of construction management software. 1 – Construction professionals surveyed by Procore and Dodge estimated that 18% of project time is lost searching for data. Assuming an average of 240 days per year are spent working, and a five-day working week, this is the equivalent to 43 working days, or 8.6 working weeks per year. Building, Design & Construction Magazine | The Choice of Industry Professionals