Business : Market Activity, Finance & Investment News
UK Construction Faces Dire Straits as War Continues

UK Construction Faces Dire Straits as War Continues

Today, Glenigan releases the May 2026 edition of its Construction Index. The Index focuses on the three months to the end of April 2026, covering all underlying projects, with a total value of £100 million or less (unless otherwise indicated), with all figures seasonally adjusted.  It’s a report which provides

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BAM starts 2026 strongly as UK construction profitability improves

BAM starts 2026 strongly as UK construction profitability improves

Royal BAM Group has reported a solid start to 2026, with revenue and adjusted earnings rising during the first quarter. The Dutch construction group said its order book remained steady at €13bn, while its solvency had improved and its cash position remained robust. The update also pointed to stronger profitability

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Stepnell accelerates North West expansion with regional director appointment and major framework success

Stepnell accelerates North West expansion with regional director appointment and major framework success

REGIONAL contractor Stepnell has reinforced its commitment to the North West market with the appointment of Dirk Pittaway as regional director, alongside securing significant positions on the latest Procure Partnerships North West and Rise Construction frameworks. Dirk will lead Stepnell’s Liverpool office, bringing more than 30 years of industry experience and

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Caddick Construction Group reports record £375m turnover

Caddick Construction Group reports record £375m turnover

Caddick Construction Group has reported a consolidated £375m turnover and £4.5m Profit Before Tax (PBT) for its last financial year as the Group’s Construction, Civil Engineering and Facades divisions target a combined 4% margin fuelled by a £1.4bn forward order book. Representing an 8% increase in revenue compared to 2023/24’s

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Latest Issue
Issue 340 : May 2026

Business : Market Activity, Finance & Investment News

HTB provides £13.5m facility to support repositioning of Leeds residential and PBSA scheme

HTB provides £13.5m facility to support repositioning of Leeds residential and PBSA scheme

Hampshire Trust Bank (HTB) has provided a £13.5 million  facility to support the repositioning of the Kirkstall Brewery campus in Leeds, refinancing existing debt and partially repaying a previous lender. The 18-month facility is secured against a 664-bed former student village in Kirkstall. This comprises a 442-bed parcel with full planning consent for conversion into 151 Class C3 apartments, alongside 202 retained Purpose Built Student Accommodation (PBSA) beds, creating a scheme with multiple potential end uses across Private Rented Sector (PRS) and student accommodation. The structure provides time for asset management and stabilisation, enabling the repositioning of the scheme while maintaining flexibility across a range of exit routes. These include disposal or refinance of the PRS element, sale or long-term leasing of the PBSA accommodation, or a whole-site disposal. No development is planned during the loan term, with refurbishment of the PBSA element funded by borrower equity. The transaction builds on progress already achieved at the site, including the disposal of an eastern parcel to an institutional investor and a long-term lease agreed with Leeds City Council across part of the retained accommodation. The lease is expected to deliver approximately £2.5 million per annum of savings to the council over its term. Full planning consent was granted by Leeds City Council in November 2025 for the conversion of the PRS parcel, providing a clear basis for the next phase of the scheme. Introduced by Johnny Grassick, Associate Director at GLPG, the deal was led by Alexia Evans, Lending Director at Hampshire Trust Bank, supported by Olivia Emmett. Alexia Evans, Lending Director at Hampshire Trust Bank, said: “This was a scheme where the key consideration was how the asset would be managed over time, not just its position today. “With planning in place and clear progress already made, the focus was on structuring a facility that allows that to continue without forcing an early decision, while remaining aligned to how the site will be worked through in practice.” Johnny Grassick, Associate Director at GLPG, said: “There wasn’t a single, defined exit here, but that reflects the strength of the site. “With planning in place, a number of viable routes forward and progress already achieved on parts of the scheme, including the lease to Leeds City Council, the key was putting a structure in place that didn’t restrict those options too early. “This gives the borrower the flexibility to build on that momentum and take the right route as the scheme evolves.” Neil Leitch, Managing Director, Development Finance at Hampshire Trust Bank, said: “This type of transaction is becoming more common where the focus is on repositioning existing assets rather than moving straight into development. “Where planning is already in place, the emphasis shifts to how the scheme is managed, how income is stabilised and how the exit is delivered over time. “That requires a structure which gives the borrower the flexibility to work through those stages properly, rather than forcing a single outcome too early.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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UK Construction Faces Dire Straits as War Continues

UK Construction Faces Dire Straits as War Continues

Today, Glenigan releases the May 2026 edition of its Construction Index. The Index focuses on the three months to the end of April 2026, covering all underlying projects, with a total value of £100 million or less (unless otherwise indicated), with all figures seasonally adjusted.  It’s a report which provides a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the last 12 months. The May edition continues the general theme of sector-wide decline, as the US-Iran War drags on, disrupting international supply chains.  Overall, the value of work starting on site in the three months to April fell by 9% and finished a fifth (-22%) below 2025 levels. Whilst the fall is less severe than seen during previous months, there’s a general fear that the industry is within the eye of the storm and these results are a harbinger of potentially worse to come, as the supply chain disruption really hits home. Aside from international turmoil, political in-fighting on the home front has led to policy stagnation and a lack of investor and consumer confidence means contractors and subcontractors are keeping their shovels clean until greater certainty returns. Commenting on the Index, Glenigan’s Economics Director, Allan Wilen said, “Construction markets are becalmed. Faced with heighted geopolitical uncertainty generated by the Iran War, investors are reassessing their development plans. Whilst a rise in office, retail and health projects helped stabilise non-residential starts during the three months to April, both residential and civil engineering starts continued to decline. Parliament has now been prorogued and hopefully the King’s Speech, which comes after a successful State Visit to the United States, will provide an opportunity to reassess and reset the national direction.” He cautions, “However, whatever the outcome of the coming weeks, there’s a general consensus that there will be fewer opportunities in the back half of this year, which also implies far fiercer competition. Savvy players will no doubt have strategies in place to capitalise on this risk and opportunity, and I’d urge those who are currently behind the curve to start seriously considering their own game plans and how they can stay afloat during an upcoming period of disruption. Niches, including data centres, purpose-built student accommodation and supermarkets, present pockets of growth and those than can either already service or diversify to meet requirements stand to weather the headwinds currently gathering force.” Taking a closer look at individual sectors and verticals… Sector Analysis – Residential Residential construction remains stuck in a downward spiral as buyers hesitate and demand continues to stagnate. Developers face massive economic pressures, coupled with steep regulatory hurdles and planning headaches, stifling activity. Glenigan’s data revealed that starts declined 8% during the Index period, falling a third(-33%) against 2025 figures. Drilling deeper, private starts plummeted 39% compared to last year, dropping 9% on the preceding three months. The fall for social housing was slightly less severe, dipping 4% against the previous three months and it fell 16% on last year. Sector Analysis – Non-Residential There were a few bright spots within the non-residential verticals which posted a relatively modest increase of 2% against the previous year and remained flat during the Index period. This slight uptick was predominantly driven by offices, which experienced an exceptionally strong period, rocketing 99% over the preceding three months and remaining an impressive 94% above 2025 results. According to Glenigan, this was largely driven by activity in the capital, with standout projects like the £50 million 105 Old Broad Street office refurbishment in the City of London contributing to growth. In other verticals it was a mixed bag. Encouragingly, retail increased 13% against the preceding three months, but this renewed momentum failed to make up for lost ground on 2025 levels (-9%). Likewise, health rose 12% compared to the previous three months but faltered compared to last year’s figures (-10%). Conversely, education fell 10% during the Index period but finished 12% up on 2025 results. Unfortunately, all other verticals saw substantial decline as the geopolitical turmoil started to really bite, disrupting vital supply chains, driving up costs and dampening confidence, inevitably leading to delays. As Glenigan’s data show, this was most acutely seen within civils where work starting on-site crashed, tumbling 42% against the preceding three months and seeing performance slashed almost in half (-47%) compared to the previous year. Diving into the detail, Infrastructure work starting on-site fell 19% against the preceding three months and declined by 48% on last year. Utilities fared even worse, nosediving 56% against the preceding three months and by 46% against 2025 levels. Community and amenity project-starts also registered a particularly poor period, cascading by over a third (-39%) during the Index period to stand 45% down on the previous year. Slightly less severe, yet still disappointing, Hotel & Leisure activity stumbled, having declined 32% against the preceding three months to stand 17% down against the previous year. Similarly, Industrial fared no better, falling 23% against the preceding three months, finishing 29% below the previous year. Regional Outlook Regionally, there were a handful of outliers with London experiencing a particularly robust Index period, soaring 25% against the preceding three months to finish 59% up on 2025 results. As previously noted, a strong performance in the office sector helped drive this growth. Northern Ireland was also in clover, rising 20% compared to the preceding three months to stand 53% up on the previous year. More modestly, yet no less impressive, the North East also performed well, posting a 14% increase during the Index period, up by almost a fifth against the previous year. Elsewhere, the picture painted was one of decline. The West Midlands experienced an especially poor period, declining 17% against the preceding three months and declining 36% against the previous year. The South West also performed poorly, declining 44% against the preceding three months to stand a dismal 60% down against the previous year. Not to be outdone, the South East also declined, by 17%

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BAM starts 2026 strongly as UK construction profitability improves

BAM starts 2026 strongly as UK construction profitability improves

Royal BAM Group has reported a solid start to 2026, with revenue and adjusted earnings rising during the first quarter. The Dutch construction group said its order book remained steady at €13bn, while its solvency had improved and its cash position remained robust. The update also pointed to stronger profitability in the company’s UK construction division, supported by disciplined tendering and strong project delivery. Chief executive Ruud Joosten said BAM’s revenue and adjusted EBITDA had increased further in the first quarter, with both main divisions and Belgium contributing to the improved performance. He added that Construction UK had continued to strengthen its contribution, helped by the company’s selective approach to bidding and focus on execution. BAM said it is seeing strong opportunities across several key markets, including energy transition, infrastructure, defence, and sustainable and affordable housing. The group said these areas are being supported by government investment and initiatives in the Netherlands, the UK and Ireland. In the UK, BAM’s civil engineering arm continued to perform strongly, while the wider Construction UK business secured a number of new projects during the quarter. These included a contract for Wales High School in Sheffield, which is designed to meet net-zero operational standards, as well as the Eastwood Park Leisure Centre, theatre and library scheme for East Renfrewshire Council in Scotland. BAM has also been selected for the Department for Education’s multi-year CF25 school framework, strengthening its pipeline in the education sector. In addition, BAM’s Civil Engineering UK business secured a place on the refreshed Procurement Partnerships North West Framework. The results suggest BAM is entering 2026 with a stable order book, improving UK performance and a clear focus on sectors with long-term growth potential. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Pagabo combines infrastructure and demolition frameworks under innovative new £4bn framework

Pagabo combines infrastructure and demolition frameworks under innovative new £4bn framework

LEADING digital framework specialist Pagabo has begun an open procedure by inviting contractors to compete for a place on its largest infrastructure procurement offering to date – the National Framework for Civil Engineering, Infrastructure and Enabling Works 2026. Once launched in September, the new framework with an estimated total value of up to £4.15bn will run for a term of four years and is compliant with the Procurement Act 2023 and Procurement Regulations 2024. The new offering will combine the scopes of the National Framework for Civils and Infrastructure and the National Framework for Demolition and Land Preparation, which both helped to establish Pagabo’s presence in the infrastructure sector and support public sector organisations with procuring transformational schemes. Following the formation of a 10-year strategic delivery partnership that will see resources, reputation and expertise combined to establish a new benchmark for construction procurement, this is one installment in a series of new frameworks being brought to market by Pagabo and YPO in 2026. YPO is the centralised procurement authority for the framework, while Pagabo is the framework manager responsible for design, delivery and ongoing management. Created to connect public sector bodies and private organisations with appointed contractors that will collaboratively deliver quality service and value for money outcomes, the framework agreement can be used by sectors such as local government, NHS and health service providers, blue light, housing and education. David Llewellyn, construction and infrastructure director at Pagabo, said: “Significant consideration has gone into the decision behind merging two of the existing frameworks that we manage. In doing so, we are able to streamline the procurement of important works covering civil engineering, infrastructure and enabling works, while ensuring the compliance, transparency and impactful delivery that our clients expect from us. “This open procedure is set to be a competitive opportunity for contractors across the UK, with the new procurement regulations and our own commitment to SME inclusion meaning that the very best quality businesses are able to deliver the public sector’s infrastructure ambitions. From new roads and rail routes, through to brownfield regeneration and energy supply transformation, this latest framework is going to be a vital procurement offering in helping the UK create new infrastructure that will improve connectivity and economic prosperity.” The closed framework includes 13 main lots, as well as geographical sub-lots that cover areas including England, Wales, Scotland, and Northern Ireland. Lots 2 to 9 and 11 to 13 will also be split into value bands, from £0 up to more than £5m. The core lot structure includes: Lot 1 and Lot 10 are for suppliers able to cover all project types in their respective services.   Operating a digital-first, end to end delivery model, the national procurement specialist’s Pagabo+ system will be used as a central platform through which all framework activity will be managed. The single environment will play host to information on and management of new opportunities, call-off activity, performance monitoring and reporting, as well as compliance assurance. Supporting with enhancement of the full lifecycle of procurement and project delivery, appointed contractors will also be able to use Pagabo Group’s social value and contract management platforms Loop and Sypro. The framework’s tender submission deadline is set for 12 June at 12pm, and interested parties can find more information online via https://in-tendhost.co.uk/pagabo/aspx/ProjectManage/1282 To learn more about Pagabo, visit www.pagabo.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals

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RO Group Showcases Silbury House in ‘Sustainable Assets for Real Estate Investors’ Webinar

RO Group Showcases Silbury House in ‘Sustainable Assets for Real Estate Investors’ Webinar

In collaboration with NatWest and the Supply Chain Sustainability School Sustainability increasingly shapes how investors think about their portfolios RO Group recently collaborated with NatWest and the Supply Chain Sustainability School to showcase its flagship Milton Keynes office property, Silbury House, as part of an initiative focused on how corporate investors can translate sustainability strategy into practical action across real estate portfolios. As part of the programme, a webinar on Sustainable Assets for Large Corporate Investors in Real Estate was held on Tuesday 28 April, bringing together industry leaders to share their experiences of delivering decarbonisation and climate resilience initiatives, as well as highlighting challenges and opportunities. During the session, Ana Bajri, Head of Sustainability at the RO Group, presented Silbury House as a live case study. The presentation demonstrated how collaboration, data-led decision making and long-term investment can deliver measurable sustainability outcomes, while also setting out our broader approach to enhancing performance across the portfolio. Silbury House reflects RO Group’s commitment to improving the performance of existing assets through targeted, data-led retrofit and optimisation. The building has achieved an EPC A+ rating, the highest possible classification, and is currently the only office building in Milton Keynes to reach this standard, demonstrating net-zero operational carbon performance in practice. RO Group’s approach focuses on practical, scalable measures, including on-site renewable energy, electrification and the optimisation of building systems, alongside carefully planned low-carbon refurbishment. This enables a material reduction in operational energy demand and emissions, while also strengthening long-term asset resilience and supporting future regulatory requirements. Ana Bajri, Head of Sustainability at the RO Group, said: “It was a pleasure to take part in the Supply Chain Sustainability School webinar alongside NatWest, and to hear how others are approaching sustainability in practice. Thank you to the organisers and all speakers for the invaluable discussion.  “Sustainability is increasingly shaping how investors think about their portfolios. Decarbonisation, climate resilience and future-proofing are no longer just considerations. They are increasingly central to long-term value and performance. “Silbury House is a fantastic example of how sustainability can be pursued. By focusing on targeted, data-led retrofit and optimisation, alongside on-site renewable energy and electrification, we have reduced operational energy demand and emissions while improving the resilience of the asset. “The focus now is on taking those lessons and applying them more widely across the portfolio as we continue to progress our net-zero pathway.” Claire Morin, NatWest, Regional Director Real Estate Finance , added: “Sustainability is no longer a future ambition for real estate investors – it is central to long‑term value, resilience and performance. Through our collaboration with RO Group and the Supply Chain Sustainability School, this webinar brought to life how data‑led decision making, collaboration and targeted investment can turn sustainability strategy into practical action. “Case studies like Silbury House show that when sustainability is embedded into core business strategy, it delivers tangible commercial outcomes alongside positive environmental impact. At NatWest, we are committed to supporting businesses with the insights, tools and partnerships they need to future‑proof their assets and thrive in a rapidly changing market.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Stepnell accelerates North West expansion with regional director appointment and major framework success

Stepnell accelerates North West expansion with regional director appointment and major framework success

REGIONAL contractor Stepnell has reinforced its commitment to the North West market with the appointment of Dirk Pittaway as regional director, alongside securing significant positions on the latest Procure Partnerships North West and Rise Construction frameworks. Dirk will lead Stepnell’s Liverpool office, bringing more than 30 years of industry experience and a proven track record in delivering major public sector projects. Following an eight-year tenure as regional managing director for Robertson Group, Dirk’s appointment aims to strategically align Stepnell’s collaborative culture with the growing demand for high-quality public sector procurement in the region. The appointment coincides with a period of significant growth for Stepnell’s regional presence. The contractor has secured places on Lot 3 (£1m–£5m) and Lot 4 (£5m–£15m) of the £1 billion Procure Partnerships (PPF) North West framework. Additionally, Stepnell has been appointed to Lot 1 of the four-year Rise Construction Framework for projects valued at more than £15 million. Dirk Pittaway, regional director at Stepnell, said: “I’m joining Stepnell at a pivotal moment where we can truly influence the built environment in the North West. What drew me to the business was its sustainable approach and a ‘team-first’ culture that is genuinely agile enough to respond to regional needs. “Our goal isn’t just to build; it’s to deliver social value that stays within the local community. With the backing of our national expertise and these new framework positions, we have the credibility to provide a progressive, collaborative alternative for public sector clients.” Tom Sewell, director at Stepnell, said: “Dirk brings a wealth of experience and a deep understanding of the North West landscape. His track record in public sector delivery makes him instrumental in our long-term regional growth strategy. “The PPF and Rise framework wins are central to Stepnell’s long-term strategy, enabling public sector clients to access our services where we can deliver high-impact projects, which prioritise carbon reduction and provide community benefit. “We are building a powerful pipeline in the North West supported by our 159-year heritage as a complete construction partner. We are committed to providing clients with the high quality of pre-construction, delivery, and post-occupancy services that Stepnell is synonymous with, supported by a can-do approach.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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McAleer & Rushe posts record performance as pipeline strengthens for 2026 and beyond

McAleer & Rushe posts record performance as pipeline strengthens for 2026 and beyond

McAleer & Rushe has reported a year of strong financial performance, delivering record turnover and a significant rise in profitability as the business continues to expand its presence across key sectors. For 2025, the contractor achieved revenue of £627.7 million, representing a 27 per cent increase on the previous year. Pre tax profits also saw substantial growth, rising by 37 per cent to £22 million, reflecting a combination of disciplined delivery, project execution and a strong pipeline of work. The company has entered 2026 with continued momentum, supported by a robust order book and a high level of secured and future work. To date, McAleer & Rushe has secured £800 million in contracts, with a further £250 million where it has been named preferred contractor. In addition, the business is progressing £600 million of projects under pre construction services agreements, many of which are expected to move to site in 2027. This forward pipeline provides strong visibility over future workload and underpins confidence in the company’s growth trajectory. It also highlights the increasing role of early contractor involvement in securing major schemes, enabling greater certainty around cost, programme and buildability. Eamonn Laverty, chief executive at McAleer & Rushe, said the results demonstrate the strength of the company’s strategy and the commitment of its team. He noted that sustained growth has been driven by the quality of its project pipeline and long standing relationships with clients and partners across the industry. The contractor continues to focus on delivering complex, high quality schemes across sectors including residential, hospitality, commercial and mixed use development. Its integrated design and build model has enabled it to respond effectively to market conditions, while maintaining strong performance across both delivery and financial metrics. With a strengthened leadership team and continued investment in its operational capability, McAleer & Rushe is well positioned to build on its recent success. The combination of secured work, future opportunities and a growing reputation for delivery places the business in a strong position as it moves through 2026 and into the next phase of its growth. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Caddick Construction Group reports record £375m turnover

Caddick Construction Group reports record £375m turnover

Caddick Construction Group has reported a consolidated £375m turnover and £4.5m Profit Before Tax (PBT) for its last financial year as the Group’s Construction, Civil Engineering and Facades divisions target a combined 4% margin fuelled by a £1.4bn forward order book. Representing an 8% increase in revenue compared to 2023/24’s turnover, Caddick Construction Group’s financial performance also saw the Group end the year with £36m cash and cash equivalents, a 10% increase on the previous year. The 2024/25 performance consolidates all businesses within Caddick Construction Group, including Construction divisions in Yorkshire & North East, North West & Cumbria and the Midlands, as well as sub-contracting businesses, CCL Facades and Caddick Civil Engineering. Underpinning the progress, the year saw a series of key investments to support long-term growth. These include £600k in new plant for Caddick Civil Engineering, and investments in new premises in Durham, and a £500k refurbishment of the Warrington premises, including energy efficiency upgrades. Key project wins for the year include Stone Yard, a 1,000 home BTR development in Birmingham on behalf of sister company, Moda, and its joint venture partner, Aviva Capital Partners.  Caddick has also rapidly become an established presence in the North East, with major projects underway for Richardson Barberry in County Durham and Placefirst in Sunderland. Alongside pipeline and geographical growth, Caddick has balanced its public and private sector projects to ensure stable work pipelines. Within the reporting year, this included Caddick’s appointment to Prosper’s £500m New Build Development Framework and Torus’ £224m housing and retrofit framework.  New frameworks for Caddick also include four lots of the Department for Education’s (DfE) £15bn Construction Framework 2025 for projects valued from £4.4m to £12m in the North East, Yorkshire and the Humber, East Midlands, and North West and West Midlands.  The recent reported year also saw Caddick Construction Group welcome 100 new colleagues, invest in 26 new apprentices and trainees as well as achieving an industry leading health and safety record with an accident frequency rate of 0.08. The business’ ESG strategy, Places for Life, which it shares with the wider Caddick Group, continues to make a tangible difference to its communities, and reported a collective £189 million local spend in 2024. Throughout the year, Caddick Construction Group overcame a number of industry-wide headwinds, including project delays and viability challenges due to the Building Safety Act, inflationary pressures and material price volatility. The year also saw the business write off remaining legacy losses on projects adversely affected by hyperinflation and sub-contractor insolvency. (pictured) Paul Dodsworth, Group Managing Director of Caddick Construction Group: “We are delighted with a year of real progress across Caddick Construction Group. We share in the industry’s headwinds, and we are proud to have maintained a resilient and growing group of businesses despite these challenges. Our success is down to the hard work of our people and their wealth of expertise. We are determined to sustainably grow while retaining our reputation for high quality, and this is a vision we share as a team.  “With the Group’s strong short-term visibility and significant medium to long-term potential, the Board remains confident that our three-year journey to deliver a consistent 4% margin will be achieved. Alongside our pipeline growth, we will continue to invest in our people, our business and our capability to ensure we keep pace with the huge technological and policy changes our industry is seeing, so that we can continue to deliver exceptional work for our clients.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Visionary Finance completes £25.5 Million Ultra High-Net Worth lending facility on prime Holland Park residence

Visionary Finance completes £25.5 Million Ultra High-Net Worth lending facility on prime Holland Park residence

Visionary Finance has successfully structured and completed a £25.5 million lending facility for an Ultra High Net Worth (UHNW) Indian National residing in the Middle East, secured against a £42.5 million prime residential property on one of the most prestigious roads in London. The borrower was introduced by one of their professional partners in the United Arab Emirates (UAE), who approached Visionary Finance to assist their client in securing enhanced lending terms on their UK residence. Although the client had already received indicative terms directly from a lender, Visionary Finance was mandated to restructure and materially improve the financing package. Following a detailed assessment of the client’s complex cross-border income structure and international profile, Visionary Finance secured a £25.5 million lending facility from an international private bank on a 10-year interest-only term with a margin of 1.15% over Bank Base Rate (BBR), with no information relating to Assets Under Management (AUM) required. The facility refinances the existing mortgage with a capital raise to cover the costs of recent significant development works to the property. It represents a highly successful outcome in the Prime Central London market, particularly given the complex process, bespoke underwriting required to accommodate the client’s sophisticated income streams and expatriate status. This transaction reinforces Visionary Finance’s position as a leading advisor to HNW & UHNW clients, including those who are international based, seeking UK property finance solutions. Navigating multi-jurisdictional income, offshore structures, and lender appetite at this level requires deep market access and structuring expertise. Hiten Ganatra, Managing Director of Visionary Finance, commented: “When dealing with UHNW clients, the difference between indicative terms and optimised execution can be substantial. Our role was to interrogate the initial proposal, understand the client’s wider balance sheet and long-term objectives, and leverage our lender relationships to deliver materially stronger terms.  “Cases involving international clients often require careful presentation of layered income streams, corporate holdings and overseas assets. By structuring the deal correctly from the outset and working closely with our introducer partner, we were able to deliver a market-leading outcome.” Visionary Finance continues to advise High Net Worth (HNW) and Ultra High Net Worth (UHNW) individuals on bespoke UK property finance solutions, with a particular focus on complex expat requirements, large-ticket lending, and structured facilities above £5 million. This transaction also highlights the strength of Visionary Finance’s relationships with its strategic partners. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Helical builds momentum with major London pipeline and strong leasing activity

Helical builds momentum with major London pipeline and strong leasing activity

Helical plc has reported a period of strong operational and development progress, underpinned by robust leasing activity and a growing pipeline of prime office and mixed-use schemes across central London. In a trading update covering the period from October 2025 to April 2026, the developer highlighted continued momentum across its portfolio, particularly at The Bower in EC1 (pictured). A resurgence in demand from technology occupiers has translated into a series of lettings, including a circa 20,000 sq ft deal with AI platform incident.io, alongside a further 32,000 sq ft currently under offer. Additional lease regears across multiple floors are also progressing, with occupancy expected to rise to over 96% once transactions complete. Across its development pipeline, Helical now has more than 700,000 sq ft of office space under construction. This includes the imminent completion of 100 New Bridge Street, EC4, a 194,500 sq ft refurbishment which has been forward sold to State Street Corporation for £333 million. The project is set to complete on programme and budget, delivering a return of equity to the business. Further schemes nearing completion include Brettenham House in WC2 and 10 King William Street in EC4, both scheduled for delivery later this year. These projects are positioned to benefit from a supply-constrained prime office market, with early occupier interest already evident. Helical’s pipeline is being strengthened through its joint venture with Places for London. At Southwark, SE1, a 429-bed purpose-built student accommodation scheme has been forward funded, significantly de-risking the project while targeting strong returns. Meanwhile, at Paddington, a 240,000 sq ft office scheme is progressing following site acquisition and the appointment of Mace as main contractor. The development is targeting high sustainability standards, including BREEAM Outstanding and NABERS 5.5-star ratings. In Farringdon, the joint venture has also secured planning consent for a new 55,000 sq ft office building at 63 Charterhouse Street, further expanding the group’s central London pipeline. Financially, Helical has strengthened its position through a £220 million development financing facility with PIMCO, supporting the delivery of the Paddington scheme and enhancing capital efficiency. Overall, the update reflects a developer capitalising on improving occupier demand, particularly in the technology sector, while advancing a pipeline of high-quality, sustainable office assets in prime London locations. Building, Design & Construction Magazine | The Choice of Industry Professionals

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