New service combines construction activity, building stock, replacement cycles and renovation demand to give manufacturers and suppliers a forward-looking view of UK market demand.  Glenigan, part of Hubexo, today announced the launch of Building Materials Forecast, a new subscription service that forecasts future demand for construction products and materials across the UK. Unlike forecasts based primarily on new construction activity, Building Materials Forecast combines project intelligence with analysis of the existing building stock, replacement cycles, renovation activity and wider market data. This provides manufacturers and suppliers with a more complete view of where demand is expected to grow, when it will emerge and which products will benefit. The service brings together Glenigan’s UK construction intelligence with a forecasting methodology developed and applied across European construction markets for more than 30 years. Drawing on official statistics, proprietary market research, NBS specification data and Glenigan project intelligence, Building Materials Forecast translates construction and building-stock activity into product-level demand forecasts across sectors and regions. Caption: Building Materials Forecast shows where and when demand for specific construction products is expected to grow. Christian Mjønes, Vice President, Construction Market Intelligence at Hubexo, said: “Knowing what will be built is only part of the picture. To understand future demand for building materials, you also need to understand what is already built, when products need replacing, and how renovation activity is developing. Building Materials Forecast brings those dimensions together. It turns construction and building-stock data into a forward-looking view of product demand helping businesses anticipate where demand is moving, identify opportunities earlier and make better commercial decisions.” Users can explore forecast demand by product category, construction sector and region, supporting market planning, sales prioritisation and investment decisions Building Materials Forecast is available now. For more information, visit www.glenigan.com/building-materials-forecast Building, Design & Construction Magazine | The Choice of Industry Professionals

Global real estate consultancy JLL has strengthened its position in the UK retail property market following the acquisition of London-based specialist advisory firm KLM, expanding its capabilities across retail leasing, property investment and strategic consultancy. The acquisition will see 17 members of KLM’s team join JLL, bringing together specialist retail property expertise and established client relationships to create an enhanced advisory platform serving landlords, investors, developers and occupiers across London and the wider UK. The move reflects JLL’s continued investment in the retail sector at a time when demand for physical retail space remains resilient, despite ongoing economic pressures and changing consumer spending patterns. KLM is an established retail property agency and lease advisory specialist, with a strong presence across London’s commercial property market and regional retail destinations. Its client portfolio includes prominent organisations such as The Crown Estate, the South Kensington Estate and Pret a Manger, demonstrating its experience in advising major property owners and retail occupiers. By integrating KLM’s specialist knowledge with its international real estate platform, JLL aims to strengthen its ability to support clients across retail leasing, investment transactions, asset strategy and wider property advisory services. Renewed Confidence in the UK Retail Property Market The acquisition comes as the UK retail property sector continues to evolve, with landlords, developers and occupiers increasingly focused on securing high-quality commercial space in established shopping destinations. JLL believes consumer spending has remained stronger than anticipated, despite wider economic challenges, supporting continued demand for physical retail accommodation. The consultancy attributes part of this resilience to households reducing their savings rates to maintain spending levels despite relatively weak income growth. Although economic headwinds remain, JLL anticipates that UK consumers could demonstrate continued resilience through the final quarter of 2026 and beyond. This outlook reinforces the importance of physical stores within retailers’ wider commercial strategies, particularly in prime high street locations, shopping centres and established retail destinations. For the commercial property and construction sectors, sustained demand for retail space can support investment in store refurbishments, commercial fit-outs, property repositioning and the redevelopment of existing retail assets. Expanding JLL’s Retail Advisory Expertise Matthew Richards, UK Chief Executive Officer at JLL, highlighted the strategic importance of the acquisition and its contribution to the company’s retail property capabilities. “This acquisition reflects the strategic fit between KLM and JLL and our continued focus on London as a world-leading retail destination and global financial centre,” he said. “Bringing KLM’s specialist expertise together with our platform strengthens our ability to serve global occupiers who demand consistency and deep market knowledge across London and the wider UK.” The addition of KLM will provide JLL with further specialist knowledge of retail leasing markets, landlord and tenant relationships, and commercial property investment opportunities. The acquisition also strengthens JLL’s ability to advise international retailers seeking to establish or expand their physical store networks within the UK. As retailers continue reviewing their property requirements, access to detailed market knowledge and strategic advice is becoming increasingly important in identifying suitable locations and negotiating commercial leasing arrangements. KLM Team Joins Global Real Estate Platform For KLM, joining JLL represents an opportunity to combine its established retail property expertise with the resources and international reach of a global real estate consultancy. James Andrews, Partner at KLM, welcomed the acquisition and highlighted the opportunities it would create for the firm’s clients and employees. “Joining JLL represents an exciting opportunity for our team and clients,” he said. “JLL’s global platform, resources, and commitment to the retail sector will enable us to deliver even greater value to our clients.” Andrews added that the team looked forward to contributing to JLL’s retail platform while maintaining the specialist expertise and client relationships that have supported KLM’s development. The acquisition is expected to create opportunities for closer collaboration between retail agency, investment advisory and other property consultancy disciplines. Supporting Retail Investment and Property Development Paul Marshall, Head of Retail Agency at JLL, said the acquisition demonstrated the company’s commitment to investing in areas where it holds a competitive advantage. “KLM brings specialist retail capability and long-standing client relationships that complement our existing platform with minimal overlap,” he said. “Together, we can compete at scale and deliver a holistic view of the retail sector across the built environment.” Marshall also highlighted the growing demand among clients for consistent advisory services and specialist retail expertise across Europe, the Middle East and Africa. For property owners and developers, the integration of the two businesses will provide access to a broader range of services supporting retail asset management, leasing strategies, investment transactions and commercial property performance. The acquisition also reflects the increasing importance of combining local market expertise with international investment knowledge, particularly as major retail destinations compete to attract occupiers and maintain long-term commercial value. With 17 KLM specialists joining its UK operations, JLL is positioning itself to capture further opportunities within the retail property market, strengthening its ability to advise on everything from individual retail units and high street portfolios to major shopping destinations and mixed-use commercial developments. The transaction represents another significant development within the UK property consultancy sector, underlining continued confidence in the long-term importance of physical retail environments and the specialist expertise required to manage, invest in and develop them. Building, Design & Construction Magazine | The Choice of Industry Professionals

Stepnell has secured a place on Pagabo’s new £26bn Developer-Led Framework, creating new opportunities for its dedicated property arm, Stepnell Developments Ltd, to partner with public-sector organisations to deliver vital estate rationalisation projects involving the repurposing and redevelopment of operational and surplus property assets. The appointment to Lot 5, covering commercial projects worth up to £50m across the Midlands, South West and South East, will allow Stepnell Developments to lead the delivery of complex, developer-led schemes under Stepnell Group. The appointment sees Stepnell as one of nine suppliers in Lot 5, bringing the total number of appointed suppliers to 52 across all lots. Managed by Pagabo on behalf of centralised procurement authority YPO, the appointment will build on Stepnell Group’s extensive experience collaborating with public sector clients and stakeholders. The framework will run over a four-year term, used by councils, NHS trusts, housing associations and education clients procuring complex regeneration and development projects through compliant routes. David Whitlock, development director at Stepnell Developments, said: “Securing a place on the Pagabo Developer-Led Framework is an important but natural step for the wider group, supporting our ambition at Stepnell Developments to work more closely with public-sector landowners and explore development opportunities where our capabilities across development, investment, construction, and energy can add real value. “It’s a brilliant opportunity to build on this experience and further develop our two-way collaboration with Pagabo and its partners to drive the best possible outcomes through the framework. This includes aligning closely with Pagabo’s digital agenda, and we intend to leverage the combined platforms and established systems to drive innovation and enable data-rich decision-making. “We are actively looking for opportunities where our commercial property development experience can help bring forward financially viable projects with the right environmental credentials, and social value. We welcome discussions with local authorities and other eligible public-sector organisations that have land or buildings with development or asset-enhancement potential.” This, the second iteration of the Developer-Led Framework provides an established procurement route for eligible public-sector organisations seeking to progress suitable development projects, subject to the framework’s scope, terms and applicable procurement requirements. Jonathan Parker, development director at Pagabo, said: “Our developer-led procurement solution is a unique market leading delivery vehicle capable of bringing client ambitions to fruition and changing the landscape of our built environment, which has also successfully driven forward the regeneration sector in recent years. “Delivering projects worth £10.7bn in gross development value and more than 36,000 new homes, while overcoming prominent challenges such as viability and risk, we’ve built on the first version of the framework and remain confident that those appointed to this next generation version will be well positioned to ensure continuous quality, value for money, collaboration and impactful social value. We’re now offering a full turnkey solution that the public sector has been crying out for.” The appointment to the Developer-Led Framework builds on the wider Stepnell Group’s recent framework success – including the appointment of Stepnell to two lots of Pagabo’s National Framework for Major Works, spanning the North West, South West, Yorkshire and the Humber, Midlands and Wales. To find out more about Stepnell Developments, visit https://StepnellDevelopments.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals

Landsec has completed its £516 million acquisition of Metrocentre in Gateshead, securing ownership of one of the UK’s largest shopping and leisure destinations in a significant transaction for the commercial property investment sector. The acquisition, completed for a net cash consideration of £516 million following a competitive bidding process, represents a major addition to Landsec’s retail property portfolio and reinforces investor confidence in established, high-performing shopping centres. Metrocentre attracts more than 16 million visitors annually and has benefited from a £60 million investment programme led by Sovereign Centros, supporting improvements to the destination and strengthening its retail and leisure offering. The centre currently boasts a 95% occupancy rate and generates approximately £650 million in annual retail sales, demonstrating its importance to the North East’s retail economy. Spanning 1.86 million sq ft of lettable floorspace, Metrocentre accommodates 282 stores, including major international and national retailers such as Apple, Sephora, Zara, Marks & Spencer, Primark, Next, JD Sports, LEGO, Bershka and Stradivarius. The destination is also preparing to welcome fashion retailer Lefties, further strengthening its tenant mix. The transaction includes an adjacent retail park comprising approximately 200,000 sq ft of additional retail accommodation across 15 units, bringing the combined property portfolio to more than two million sq ft. For Landsec, the acquisition provides an opportunity to build upon Metrocentre’s established performance while exploring future investment in retail facilities, tenant accommodation and the wider customer experience. Martin Healy, Chair of Metrocentre, welcomed the completion of the transaction. “The successful completion of the sale represents an important milestone for Metrocentre and a positive outcome for its stakeholders,” he said. “It also reflects the centre’s position as a major UK retail and leisure destination, recognising the progress and investment made in recent years.” Healy highlighted Landsec’s experience in managing major retail destinations and its ability to support Metrocentre’s continued development. The acquisition reflects the ongoing importance of large regional shopping centres within the UK commercial property market, particularly destinations offering strong occupier demand, established customer footfall and opportunities for long-term asset management. For the construction, refurbishment and retail fit-out sectors, continued investment in major shopping destinations can generate opportunities for store modernisation, building improvements and the repositioning of existing commercial space. With its extensive retail estate, strong occupancy and established visitor numbers, Metrocentre represents a substantial addition to Landsec’s portfolio. The £516 million transaction marks a new chapter for the Gateshead destination, positioning it for continued investment and development under one of the UK’s leading commercial property owners. Building, Design & Construction Magazine | The Choice of Industry Professionals

Responding to the government’s Budget and Fiscal Devolution Roadmap, Cllr Kam Rai, Deputy Chair of London Councils, said: “A fair and prosperous London is essential to creating a fair and prosperous UK. Growth in the capital doesn’t just benefit Londoners – it raises living standards across the whole country. “Boroughs needed a Budget that bolsters resources and turbocharges local delivery. Although the government faces a tough fiscal situation, empowering councils to drive local growth pays dividends for the national economy. “Devolution should come as close as possible to communities. As London receives new fiscal powers – including keeping more of the money raised in business rates and income tax – London boroughs must have a key role. Boroughs know our communities best and deliver the crucial local services Londoners rely on every day. “We therefore welcome the government’s commitment to working with boroughs as well as the GLA to develop a bespoke approach for London. Boroughs need to be equal partners with a formal say on devolved funding decisions alongside the Mayor so we can help ensure the best possible results across the capital. “The overall outlook for London boroughs’ finances remains extremely difficult, especially due to skyrocketing social care and homelessness costs. We will continue to seek sustainable funding solutions to end the crisis in town hall finances, including through the government’s next Spending Review. Boroughs remain as committed as ever to working with the government on our shared priorities such as building more council homes, supporting more Londoners into work, and generating good growth in every postcode.” Devolution Boroughs are determined to play a full and active part in shaping the next stages of London’s devolution journey. Following the Budget’s commitment on retention of business rates and income tax, London Councils will seek to clarify what share will come to boroughs. This is vital considering boroughs’ role providing local services to businesses and supporting economic growth. The cross-party group says that fiscal devolution must improve boroughs’ overall level of resources, which is key to reducing reliance on central government, giving them more control of their own destiny, and creating better incentives to drive local growth in communities.   Housing London is grappling with the most severe housing and homelessness emergency in the country. London Councils estimates one in 50 Londoners (210,000) are homeless, and boroughs collectively spend over £5m daily on providing temporary accommodation. The Budget confirms a welcome funding boost for rough sleeping support and to the Social and Affordable Homes Programme (SAHP). Boroughs await further detail on what this means for London. London Councils has previously identified a pipeline of over 50,000 potential new council homes in the capital. Even with the SAHP uplift announced at the Budget, further financial support will be required to help boroughs deliver all these homes in the coming years. Boroughs will continue to seek an end to the freeze on temporary accommodation subsidy levels. The amount the government pays councils through the welfare system to subsidise temporary accommodation has been frozen since 2011, even though housing costs have increased hugely in the subsequent 15 years. Increasing the subsidy so it is more in line with today’s housing costs is vital for sustaining boroughs’ finances and enabling them to keep supporting homeless Londoners. Infrastructure London Councils welcomes new mechanisms announced at the Budget to support key infrastructure projects in the capital such as the Bakerloo Line extension, West London Orbital, and upgrades to Stratford International and Euston. These are agreed priorities within the London Infrastructure Framework – a single document agreed by London Councils and the Mayor of London setting out the infrastructure projects needed to enable economic growth, housing, and climate resilience across the capital.    It will be critical that the locally impacted boroughs are involved in the planning and can effectively benefit from and further mobilise growth created by the infrastructure investment. Boroughs want London empowered to invest in its own growth by allowing the capital to retain land value uplift generated by infrastructure projects. This would support investment in the next generation of growth-enabling infrastructure.  Employment and skills Almost 1.3 million Londoners are currently economically inactive. Boroughs are eager to be empowered to improve the impact of local support and help more residents into work. London Councils also looks forward to the final report of the Milburn Review.  London’s five Get Britain Working Trailblazers supported more than 6,000 Londoners in their first year. Boroughs are pushing for guaranteed funding for a third year of the trailblazers so that proven programmes due to end next year are not lost to a funding cliff-edge. Boroughs’ overall finance pressures Ahead of the Budget, London Councils warned of a growing funding gap threatening to destabilise local services and undermine delivery. London Councils forecast a funding shortfall for boroughs of up to £1.2 billion this year (2026-27) and £5.2 billion between now and 2030. In the lead up to the next Spending Review, London Councils will continue to analyse boroughs’ finances and push for national policy changes to end the crisis in local government finances.   Pressures are driven by the fast-rising cost of providing services and growing need from vulnerable Londoners. Adults’ and children’s social care, homelessness, and special educational needs and disabilities (SEND) services continue to see increasing levels of demand.  The government’s 2025 Fair Funding Review improved funding levels for some London boroughs but saw London’s overall share of national funding for local authorities reduce. London local government is disproportionately reliant on the government’s Exceptional Financial Support (EFS) scheme compared to other English regions. Nine of London’s 33 local authorities currently receive EFS, accounting for more than a third of the £1.5 billion received through EFS by local authorities in England.  Building, Design & Construction Magazine | The Choice of Industry Professionals

Colliers forecasts average annual total returns of 7% over five years, with retail expected to outperform A recent Colliers’ report has revealed that UK commercial real estate total returns are forecast to reach 4.4% in 2026 before strengthening to 6.3% in 2027 and 8.2% in 2028. Over the five years to 2030, total returns are forecast to average 7% per annum According to the latest Q3 UK Real Estate Investment Forecasts report, the 2026 total return forecast has been revised down from 5%, reflecting higher gilt yields and increased uncertainty. Colliers expects all-property capital values to decline by 0.3% in 2026 before returning to growth of 1.6% in 2027, with limited property yield movement expected over the next few years. UK commercial real estate investment volumes increased from £10 billion in Q2 to around £11 billion in Q3. While this was ahead of Q3 2025, volumes remained 13% below the five-year quarterly average. Year-to-date investment reached £31 billion, marginally below the corresponding 2025 figure. Oliver Kolodseike, Head of Research & Strategic Insights at Colliers, commented: “Higher gilt yields and borrowing costs continue to create a challenging investment environment, limiting the potential for significant capital growth in the near term. However, occupational fundamentals remain resilient across parts of the market and we expect returns to strengthen from 2027. “With limited scope for yield compression, income and rental growth will be increasingly important drivers of performance. Retail continues to stand out, while demand for high-quality office and industrial space is supporting rental growth in those parts of the market.” Looking into specific sectors, retail is expected to lead performance over the next five years, with total returns forecast to average 8.5% per annum between 2026 and 2030, compared with 7% for all property. Shopping centres are forecast to generate the strongest returns at more than 10% per annum, while retail warehouses are expected to return around 8.9%. The outlook for offices and industrial remains more polarised, with demand continuing to favour higher-quality assets. Both sectors are forecast to deliver average total returns of 6.6% per annum over the five years to 2030. Industrial is expected to deliver the strongest mainstream-sector rental growth over the period, averaging 3.3% per annum. Overall, the report points to a market where income resilience, rental growth and asset quality will be increasingly important to performance as higher financing costs limit the scope for significant yield compression in the near term. Access the full Q3 UK Real Estate Investment Forecasts report here.

Goldman Sachs Alternatives to acquire a majority stake in Celnor, a fast-growing international built environment-focused testing, inspection, certification and compliance (“TICC”) platform, with Inflexion, Founder and Management reinvesting Celnor Group (“Celnor”), a leading provider of risk, safety, compliance and testing services across the built environment, announced that the Private Equity business within Goldman Sachs Alternatives (“Goldman Sachs”) has entered into a definitive agreement to acquire a majority stake in the Company. Founder and Chief Executive Officer, Simon Parrington, and members of the wider management team will remain invested alongside Goldman Sachs, together with existing shareholder Inflexion Private Equity (“Inflexion”). The transaction is subject to customary regulatory approvals and is expected to close in Q1 2027. Founded in 2023, Celnor has rapidly grown into a leading platform in the TICC market. Today, the Group supports more than 20,000 clients, employs over 2,750 colleagues across 60 locations and generates annual revenues exceeding £300 million. With a national footprint across the UK and a growing international presence in the US and Europe, Celnor supports customers in meeting increasingly complex regulatory, safety and environmental requirements across the built environment. The investment from Goldman Sachs will support Celnor’s next phase of growth, accelerating its international expansion strategy, particularly in the United States and Continental Europe, while further strengthening its technology, operational and acquisition capabilities. Celnor will continue to pursue targeted acquisitions, invest in talent and innovation, and support its growing customer base. Simon Parrington and the existing management team will continue to lead Celnor, supported by Goldman Sachs and Inflexion. Simon Parrington, Founder and Chief Executive Officer of Celnor Group, said: “In three years, we have built a strong international platform, underpinned by exceptional people, trusted brands and a shared commitment to our customers. Partnering with Goldman Sachs is an important next step in our long term strategy and will enable us to invest further in our people and capabilities, strengthen our proposition for clients and create new opportunities for colleagues across the Group. I would like to thank Inflexion for its invaluable support since day one and am delighted they will continue as a partner in our next chapter.” Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said: “Having built a close relationship with Simon and the management team since Celnor’s formation, we are delighted to invest in the business at this hugely exciting stage in its evolution. We’ve been very impressed by Simon and the management team’s track record of building and scaling the Group via M&A, while maintaining a clear focus on its customers, its service quality and importantly, its people. We look forward to partnering alongside Inflexion and management to drive future growth, both in the UK and internationally.” Harry Wilson, Investor within Private Equity at Goldman Sachs Alternatives, added: “Celnor has established a differentiated position in an attractive end-market underpinned by deep technical expertise, compliance requirements and trusted customer relationships. We look forward to drawing on Goldman Sachs’ global network and value creation capabilities to support the Company’s continued development, both organically and through targeted acquisitions.” Tom Pemberton, Partner and Head of Enterprise Fund, Inflexion, commented, “Celnor is a great example of how Inflexion can provide huge flexibility and generate significant value. We backed an entrepreneurial founder to start from scratch to build a high quality, scaled business in an attractive, fragmented market. Simon and the team have executed the strategy incredibly and we look forward to continuing to support them as a minority shareholder.” Dominic Clark, Investment Director, Inflexion, added, “Celnor is an example of buy-and-build done well: a clear strategy, a disciplined and relationship-led approach to acquisitions, and sustained investment in the businesses once they joined. That combination has developed deep technical expertise across the Group, delivered at scale, and there is significant runway ahead – particularly in the US and Continental Europe – and we are proud to remain part of Celnor’s story alongside Simon, the team and Goldman Sachs.” Celnor and Inflexion were advised by Rothschild & Co (Corporate Finance), OC&C (Commercial), Alvarez & Marsal (Financial, Tax), and Addleshaw Goddard and Slaughter and May (Legal). Goldman Sachs Alternatives was advised by Houlihan Lokey (M&A), Linklaters (Legal), and EY (Financial and Tax). Building, Design & Construction Magazine | The Choice of Industry Professionals

United Trust Bank (UTB) has completed a £35.5m bridge-to-investment facility secured against a new £51.1m GDV mixed-use build-to-rent (BTR) development in South-West London. The five-year facility, provided by UTB’s Structured Property Finance team, enabled the experienced developers, Dominus New Homes, to refinance their existing development loan and release equity from the scheme as it approached practical completion. The development, known as Wandle Place, comprises 96 BTR apartments and approximately 9,000 sq.ft. of commercial space in the popular and well-connected London suburb of Earlsfield. The scheme has already attracted strong rental demand, with tenancies agreed on nearly half of the apartments within seven weeks of marketing. Dominus New Homes has considerable experience in the BTR sector and has successfully delivered more than 2,000 homes. The opportunity was introduced to UTB’s Martin Cameron by Stan Lersch, founder of Property Finance Services acting for Dominus New Homes. Deal highlights Loan size – £35.5m Development GDV – £51.1m LTV – 70% Term – 5 years with stepped down rate once agreed ICR achieved UTB structured the £35.5m facility at 70% loan-to-value (LTV), providing the borrowers with funding certainty through the initial letting period and into the investment phase. The bespoke facility includes a reduction in the lending margin once rental income has stabilised and an agreed interest cover ratio (ICR) has been achieved. This is expected within three to six months of practical completion and allows the borrowers to benefit from more competitive funding costs as the development becomes established. The transaction demonstrates UTB’s appetite for substantial lending opportunities across the living sector and its ability to structure facilities which support developers through the transition from construction to income-producing investment assets. Chris Mason, Director of Dominus New Homes, commented: “Our business model has always been to build for sale, but current poor demand to buy new flats in London required a rental approach this time, together with an investment loan to repay our development finance on time. After all the hard work involved in bringing a development of this scale to completion, it’s particularly rewarding to see such a quick and positive response from prospective tenants. “With UTB’s funding in place, we can concentrate on getting the remaining apartments let, welcoming our first residents and making this a development people will be delighted to call home.” Stan Lersch, Founder of Property Finance Services, said: “Dominus New Homes have an outstanding track record in residential development and have delivered another high-quality scheme. With the development nearing completion, the priority was to secure a funding solution which would refinance the existing facility, release some equity and provide long-term certainty without the need for another refinancing exercise in a few months’ time. “UTB understood exactly what we were trying to achieve and came back with a well-structured proposal which worked for the clients both immediately and over the longer term.” Martin Cameron, Business Development Director – Structured Property Finance, United Trust Bank, said: “Build-to-rent is an increasingly important part of the UK residential property market, and developers need funding partners who understand that completing a scheme is only one stage of the investment journey. “At £35.5m, this is a substantial commitment to a new UTB customer, and a good example of how our Structured Property Finance team can provide flexible, commercially attractive funding for larger and more complex property transactions.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Global real estate services and investment giant CBRE has agreed a deal worth up to $1 billion to acquire London-based data centre infrastructure specialist Onnec, significantly expanding its capabilities in one of the fastest-growing sectors of the built environment. The acquisition will see CBRE pay an initial £460 million ($610 million) in cash, with a further performance-related payment of up to £300 million ($400 million) potentially payable over several years. The transaction represents a major investment in specialist data centre engineering, network infrastructure and technical services, strengthening CBRE’s position in a market being driven by growing demand for cloud computing, artificial intelligence and digital connectivity. Founded in 1986 and headquartered in London, Onnec specialises in the design, deployment and maintenance of network, fibre and data centre infrastructure, providing critical technical services to major technology operators and hyperscale data centre customers. The business employs approximately 800 people across the United Kingdom, continental Europe and the Asia-Pacific region, giving CBRE an established international platform from which to expand its specialist infrastructure operations. Once completed, Onnec will become part of CBRE’s critical infrastructure services business, complementing the group’s existing data centre infrastructure capabilities in the United States. The acquisition is expected to create opportunities for greater international coordination across the design, installation, commissioning, operation and maintenance of increasingly complex digital infrastructure facilities. For the construction and engineering sectors, the deal highlights the growing strategic importance of the specialist contractors and technical service providers responsible for delivering the infrastructure within modern data centres. While investment in data centre development is frequently measured through the construction of large-scale buildings and campuses, the technical infrastructure housed within these facilities is equally critical to their performance. High-capacity fibre networks, structured cabling, connectivity systems and associated infrastructure form essential components of the operational environment required by hyperscale technology businesses. As demand for computing capacity increases, developers and operators are placing greater emphasis on the delivery of reliable, scalable and resilient facilities capable of supporting increasingly demanding technology requirements. Onnec’s specialist expertise will therefore strengthen CBRE’s ability to support customers across the wider lifecycle of data centre assets, from initial infrastructure deployment through to ongoing technical maintenance. The financial outlook for the acquired business also demonstrates the scale of the opportunity within this rapidly expanding market. Onnec is expected to generate approximately £370 million ($498 million) in revenue during 2027, alongside core earnings before interest, tax, depreciation and amortisation (EBITDA) exceeding £50 million ($67 million). Including the anticipated contribution from Onnec, CBRE expects its critical infrastructure services business to generate nearly $4.5 billion in total revenue in 2027. The projected performance underlines the increasing significance of digital infrastructure services within CBRE’s broader international property and facilities management operations. The acquisition also reflects a wider transformation taking place across the commercial property sector, where data centres have emerged as a major area of investment alongside more traditional asset classes such as offices, industrial and logistics facilities. Unlike conventional commercial buildings, data centres require highly specialised engineering systems, resilient power infrastructure, sophisticated cooling arrangements and extensive digital connectivity to maintain continuous operations. This complexity creates sustained demand for specialist engineering expertise, both during initial construction and throughout the operational life of the facility. For CBRE, bringing Onnec into its critical infrastructure division will provide additional technical resources and geographical coverage, particularly across European and Asia-Pacific markets where the company already serves major technology customers. The combination of Onnec’s established regional operations and CBRE’s existing US capabilities is expected to strengthen the group’s ability to support international clients operating across multiple data centre markets. The transaction remains subject to the necessary regulatory and other approvals, with completion anticipated around the end of 2026. If finalised, the acquisition will represent another significant step in CBRE’s expansion into specialist infrastructure services, positioning the business to capitalise on the continued growth of global data centre development and the increasingly sophisticated engineering requirements of the digital economy. Building, Design & Construction Magazine | The Choice of Industry Professionals

New research reveals the UK locations where the construction industry is thriving, with Milton Keynes taking the top spot. Milton Keynes has been named the UK’s most thriving construction hotspot outside London, according to new research from construction branding specialists Monster-Mesh. The study analysed five key indicators across 95 UK locations to identify the towns and cities outside the capital where the construction industry is showing the strongest signs of activity, investment and future growth. While London continues to dominate the UK construction landscape, the research reveals a number of regional locations where a combination of established construction businesses, economic output, workforce growth, job opportunities and investment in construction branding is helping to drive a thriving local industry. The study by Monster-Mesh ranked locations according to: Each indicator was scored out of 100 before being combined to create an overall index score out of 500. To ensure a fair comparison between locations of different sizes, figures were standardised according to population or presented as percentages. The UK’s top 10 construction hotspots outside London  (index score out of 500)  1st) Milton Keynes, Buckinghamshire: 339  2nd) Rochester, Kent: 318  3rd) Canterbury, Kent: 312  4th) Tunbridge Wells, Kent: 310  5th) Dartford, Kent: 309  6th) Stevenage, Hertfordshire: 308  7th) Chelmsford, Essex: 297  =8th) Oxford, Oxfordshire: 296  =8th) Reading, Berkshire: 296  10th) Cambridge, Cambridgeshire: 279 Milton Keynes named the UK’s top construction hotspot Milton Keynes has taken the number one position in this year’s ranking, scoring 339 out of 500. The town benefits from the strength of the wider South East construction market, which accounts for 16.9% of the UK’s construction businesses. This is the highest proportion of any region included in the study. Construction in the South East also generates £41,319 in GVA per head, providing a strong economic backdrop for locations such as Milton Keynes. The city also stands out for the amount being invested in construction branding. Monster-Mesh data shows that £59,211 is spent on construction branding solutions per 100,000 people in Milton Keynes, giving it the highest branding spend among all locations analysed. That investment has also more than doubled year-on-year, with construction branding spend in Milton Keynes increasing by 103% compared with last year. However, the research suggests that Milton Keynes’ construction market is not simply being driven by branding investment. The region is forecast to see a 3% increase in its construction workforce between 2026 and 2030, while the city currently has five advertised construction jobs for every 100,000 residents. Mark McLennan, Founder at Monster-Mesh said, “Milton Keynes taking the top spot from Tunbridge Wells this year is a really interesting result. It demonstrates that a thriving construction sector isn’t necessarily about having the highest number of job vacancies or the fastest workforce growth in isolation. The combination of a strong regional construction base, economic output and business investment all play a part in a thriving local sector. “The particularly strong increase in construction branding spend is also worth highlighting. Businesses don’t generally invest in their visibility unless they see an opportunity to compete and grow, so this could be a useful indicator of the confidence within Milton Keynes’ construction sector.” Rochester takes second place Rochester has climbed into second place, scoring 318 out of 500. Like Milton Keynes, Rochester benefits from the wider strength of the South East construction industry, with 16.9% of UK construction firms located across the region and construction generating £41,319 in GVA per head. Construction branding investment is particularly strong in Rochester, reaching £44,246 per 100,000 people, and perhaps more significantly, branding spend has increased by 104% year-on-year. This suggests a rise in investment from construction businesses looking to increase their visibility and compete for new opportunities. Rochester currently has 12 advertised construction jobs per 100,000 people, while the regional construction workforce is forecast to increase by 3% between 2026 and 2030. Canterbury comes in at third place Canterbury takes third place with an overall index score of 312. The Kent location combines the strength of the wider South East construction market with significant investment in construction branding. Construction businesses in Canterbury are spending £37,356 per 100,000 people on branding solutions, representing a 14% increase compared with last year. The location also has 25 advertised construction jobs per 100,000 people, while the wider South East is expected to see construction workforce growth of 3% between 2026 and 2030. With 16.9% of the UK’s construction firms located across the wider South East and construction generating £41,319 in GVA per head, Canterbury’s position in the top three highlights the continuing strength of Kent and the wider South East as a construction hub. Mark said, “London will always be an enormous construction market, but it’s important not to overlook what’s happening elsewhere in the UK. “This year’s research shows some really interesting regional hotspots. Milton Keynes, Rochester and Canterbury are leading the way, while locations such as Dartford, Stevenage, Oxford and Reading are seeing particularly significant increases in construction branding investment. “The construction landscape is constantly changing, and looking beyond London gives us a much better picture of where businesses are investing, where employment opportunities are emerging and where the sector could be heading next.” Construction branding investment surges across UK cities Construction businesses across the UK are significantly increasing their investment in branding, with the number of construction branding units ordered over the past year rising by 89%, while total spend on construction branding has increased by an even greater 94%. The latest Monster-Mesh data reveals the cities where construction branding investment is growing fastest, with Bath recording the biggest increase in spending, up by an impressive 297% over the past year. Portsmouth follows closely behind, with construction branding spend increasing by 295%, while Slough saw spending rise by 285%. For further information about the study and to speak to the team, visit Monster-Mesh.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals