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

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

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

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

Glenigan Review reveals choked activity as international conflict strangles pipeline Today, Glenigan | A Hubexo Company (Glenigan), one of the construction industry’s leading insight and intelligence experts, releases the April 2026 edition of its Construction Review. The Review focuses on the three months to the end of March 2026, covering all major (>£100m) and underlying (<£100m) projects, with all underlying figures seasonally adjusted. It’s a report providing a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the past year. The April Review paints a bleak picture of an industry buffeted by frustratingly persistent socioeconomic headwinds. The poor project starts figures, recorded in the three months to the end of March 2026, fell back 6%, whilst nosediving by 20% on 2025 levels. Glenigan’s data shows activity becoming increasingly uneven sector-wide and, whilst main contract awards rose against the preceding quarter (+30%) and last year (+3%), fewer projects are actually making it to site. As such, these positive results ring hollow. This cooling-off is acutely observed in a significant decline in detailed planning approvals, which saw their value slashed in half (-51%) compared to 2025 levels, falling by almost a third (-29%) during the review period. Global markets are in a state of shock, prompted by the escalation of the US/Iran war, which has led to the closure of key trading routes, damaging investor confidence. This is likely to exacerbate the current downward spiral over the coming months. Commenting on the April Review, Allan Wilen, Glenigan’s Economics Director, says, “Private investment and consumer spend has stalled. A general increase in the cost of living is squeezing household spending and denting homebuyers’ confidence, while investors are cautious given the weak economic outlook, stifling potential momentum in the property market and resulting in general wariness. The Iran War is exacerbating these pressures by stoking inflation and further weakening economic growth. Unfortunately, this situation is unlikely to end in the near term, with energy costs expected to remain high this year and the prospect of interest rates cuts fading fast. “This growing culture of cautiousness is extending to contractors, subcontractors and product manufacturers alike, where higher oil prices are starting to cascade down the supply chain, raising energy, material, transport and on-site costs. Already battling against uncomfortable financial conditions, skills shortages and a deluge of complex regulations, it’s little wonder that many are keeping their powder dry until economic stability returns.” Drilling down into the sector verticals, performance was inconsistent, in line with the overall findings of the April Review. Despite remaining well behind the preceding quarter’s results, there were a few indicators that show, when measured against 2025 levels, activity hasn’t completely ground to a halt and the pipeline flow, whilst weak, is still active. Taking a closer look… Strong starts According to Glenigan data, Offices, Hotel & Leisure and Education stood out during the quarter, registering strong year-on-year growth in project starts. Offices led the way with a 75% surge, while Hotel & Leisure and Education both posted 31% increases, a broadly positive picture against a backdrop of wider market uncertainty. That said, forward-looking indicators were more cautious across Office and Hotel & Leisure, with main contract awards and detailed planning approvals declining year-on-year in each case, suggesting the pipeline may soften in the months ahead. Within Offices, growth was broad-based, with the value of major projects rising by 84% year-on-year. Data centre construction has been a key driver, though the sector faces headwinds from rising industrial electricity costs and grid-connection delays, illustrated by the indefinite pause on OpenAI’s Stargate UK scheme in North Tyneside. In Hotel & Leisure, indoor leisure facilities and cinemas and theatres were the standout performers, rising 133% and 186% respectively, while hotels and guest houses fell 30%. Education continued to benefit from the Schools Rebuilding Programme, with schools dominating activity and university schemes contributing meaningfully, though college projects declined. Regionally, London dominated Office activity with starts up by 124% year-on-year, boosted by a major data centre scheme. The South West surged 15-fold. In Hotel & Leisure, Scotland led with a 205% rise, closely followed by London and the South West, which quadrupled year-on-year. Education starts were also strongest in London, with Scotland also making a solid contribution driven by public-sector investment. It’s a deal Two sectors registered a rise in main contract awards against 2025 levels during the quarter: Housing and Civil Engineering. Housing delivered a 41% increase year-on-year, while Civils posted an 11% rise, encouraging signals for future workloads in both sectors. The picture was more complex beneath the surface, however, with project starts declining in both cases and planning approvals remaining under pressure, particularly in Civils where approvals fell 81% year-on-year. In Housing, the uplift in starts was driven largely by major projects, with social sector housing the dominant force, up 230% year-on-year and accounting for 41% of all starts. Private housing and private apartments, by contrast, fell 44% and 50% respectively. The outlook is cautiously optimistic but fragile, with global instability and early signs of softening house prices (including a decline reported by Halifax) suggesting the recovery may be short-lived. In Civils, energy schemes remained a significant component despite falling below last year’s levels. Airport-related infrastructure recorded growth, albeit from a low base, and future investment in road, rail and utilities infrastructure is expected to provide a firmer foundation from 2026/27. Regionally, Yorkshire & the Humber dominated housing project starts, substantially driven by major social housing heating works in Leeds, while London was the second most active region, despite a moderate decline. In Civils, London led project starts, rising 143%, while Scotland accounted for the largest share of planning approvals at 20%, though activity there fell 39% year-on-year. Northern Ireland recorded sharp approval growth of 903%, pointing to potential future activity in the region. Seal of approval Glenigan’s data highlights that Health, Retail and Community & Amenity shared a common thread during the quarter: while project starts and main contract awards declined year-on-year

Shawbrook has successfully delivered a £33 million refinance facility through its Structured Real Estate team, supporting a diversified portfolio of 20 commercial assets located across 19 towns in the UK. The transaction marks a new-to-bank relationship with an established UK property investor and highlights Shawbrook’s ability to structure tailored financing solutions for complex, multi-asset portfolios. The portfolio comprises more than 80 leases across a broad mix of commercial uses, offering significant diversification. While a limited number of assets fall within sectors such as cinemas and bingo halls, these are balanced by the scale of the portfolio and a robust asset management strategy. The borrower has also demonstrated a clear and credible business plan, supporting both ongoing performance and Shawbrook’s long-term exit strategy. The five-year facility has been structured with a repayment profile aligned to anticipated cash flows, ensuring flexibility while maintaining strong risk discipline. The investor is a well-capitalised UK property company backed by an experienced sponsor and a proven asset management team. Asset management is led by Capreon, which oversees more than £1.5 billion of European real estate. Capreon’s extensive experience across market cycles provides confidence in the delivery of the portfolio’s business plan, including value-enhancing initiatives and planned disposals. This transaction aligns strongly with Shawbrook’s credit appetite and demonstrates the bank’s capability to understand and support complex real estate strategies while maintaining a disciplined approach to risk. Robert Mackenzie-Carmichael, Managing Director at Capreon, said: “We are delighted to have partnered with the Shawbrook team on this financing. Their commercial approach and collaborative mindset stood out. Shawbrook demonstrated a strong understanding of the assets and our business plan, delivering a flexible and well-structured financing solution aligned with our long-term strategy. We look forward to expanding the relationship as we continue to grow and actively manage this and our wider portfolios.” Tirath Singh, Relationship Director at Shawbrook Structured Real Estate, added: “This project highlights our structuring capabilities in coordinating so many moving parts. It demonstrates how we were able to deliver a fully tailored solution that aligned seamlessly with the portfolio’s asset management plan.” Shawbrook looks forward to building on this new relationship and supporting the borrower, sponsor and Capreon on future opportunities. Building, Design & Construction Magazine | The Choice of Industry Professionals

Richborough has agreed a multi-million-pound debt facility with Homes England to accelerate planning activity and support the government’s target of delivering 1.5 million homes during the current Parliament. The flexible funding arrangement will enable the company to invest in new sites and planning applications across England, increasing the supply of consented land for SMEs, housing associations and major housebuilders. The agreement marks one of the first commitments made through the National Housing Bank, a newly established vehicle operating under Homes England. The bank is designed to provide government-backed financing to unlock housing and regeneration projects while attracting private investment and boosting delivery at scale. Richborough has outlined ambitious plans for the year ahead, with more than 30 planning applications expected to be submitted in 2026, covering around 12,500 new homes. This follows a strong performance in 2025, when the company submitted applications for approximately 9,000 homes and completed land sales to major developers including Barratt Redrow, Bellway, Bromford, Charles Church, Vistry Group and Taylor Wimpey. Simon Century, Chief Executive Officer for the National Housing Bank, said: “Homes England works with partners who share our ambition to accelerate the delivery of quality homes in the places they are needed most. Our loan with Richborough, supported through the National Housing Bank, demonstrates our commitment to enabling housing delivery where it can have the greatest impact.” Paul Campbell, Chief Executive at Richborough, added: “We are delighted to partner with Homes England to scale Richborough’s impact for housing delivery. Decision times for major planning applications are taking three times longer now than in 2014* and against this backdrop, flexible long-term capital is essential. This facility gives us the confidence to invest earlier in more sites, maintain momentum through the planning process, and bring forward high-quality, well-designed schemes that can be built quickly once consented.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Glenigan records yet another dismal month for the sector as international conflict escalates Today, Glenigan | A Hubexo Company (Glenigan), one of the construction industry’s leading insight and intelligence experts, releases the March 2026 edition of its Construction Review. The Review focuses on the three months to the end of February 2026, covering all major (>£100m) and underlying (<£100m) projects, with all underlying figures seasonally adjusted. It’s a report providing a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the past year. The March edition of the Glenigan Construction Review offers no respite to a sector caught in a downward spiral of poor market conditions, with decline recorded across the board. Projects starting on-site were down by a staggering 39% compared to the preceding three months and by 29% against 2025 figures. Main contract awards told a similarly sorry tale, plummeting 36% year-on-year to finish 17% lower than the previous three months. Slightly less severe, but equally disappointing, detailed planning approvals dropped by 15% compared to the preceding three months to stand 16% below last year’s numbers. International turmoil dashes recovery hopes The recent explosion of conflict in the Middle East and the ongoing socioeconomic turbulence it’s caused are only adding to UK construction’s many frustrations. With little sign of things drawing to a conclusion any time soon, it only adds another burden on top of an industry being slowly smothered by persistent affordability pressure, a subdued planning environment and low business confidence. Unsurprisingly, the investment landscape, which was beginning to thaw, is, once again, becoming increasingly chilly. Whilst Government spending commitments remain intact, the uncertainty presented by the US/Israel-Iran War could call even the firmest funding agreements into question. With world events playing out in real-time, contractors and subcontractors can only look on and develop contingency plans to remain resilient in the face of further downturn. As Glenigan’s Economics Director, Allan Wilen says, “We’re in a deeply worrying position where market volatility means prices are erratically fluctuating on a daily basis, dictated by the direction of international affairs. As our results show, the decline in construction activity has deepened and hopes for a recovery in the second half of the year now hang in the balance. He adds, “It doesn’t bode well for currently weak verticals, especially the private residential sector which will likely continue to slide. Equally concerning, those areas where we’ve seen relative performance gains are seeing this growth put at risk. This all makes existing pipelines extremely fragile with no guarantee that signed and sealed projects will be delivered to agree dates. “However, whilst the entire supply chain will be nervously observing the situation, this is definitely not the time for firms to be sitting on their hands. Crucially, they must assess the vulnerability of their order books to delay, and higher construction costs, to scan the horizon for new projects to offset possible workload gaps.” Taking a closer look at the highlights and lowlights… Making plans for future growth Civil engineering experienced a challenging three months to February, with project starts plummeting 86% compared with the preceding three months, while main contract awards declined 18% over the same period. Whilst all three metrics fell on a year-on-year basis, detailed planning approvals surged 92% compared with the previous quarter providing a strong signal of future recovery. This indicates the outlook, at least in this vertical, is more encouraging, with infrastructure workloads expected to strengthen gradually, supported by increased road and rail investment from 2026/27 onwards. Energy accounted for the largest share of starts at 35%, though activity fell 40% year-on-year. Roads represented 14% of starts, declining 54%, while airports recorded the only major uplift, rising 703% year-on-year. Regionally, the North East was the most active for project starts at 17% of total activity, up 57% year-on-year. In planning approvals, the North West led with 27% of total approvals, increasing 177% year-on-year, while Scotland held 24% of approvals with a 30% annual rise. Learning to get better The education sector experienced a mixed period in the three months to February, with project starts rising 23% year-on-year whilst main contract awards declined 21% and detailed planning approvals fell 14% compared with the previous year. Despite this uneven performance, the future appears refreshingly positive, with ongoing policy commitments to address the ageing school estate supporting future activity through the school rebuilding programme. Schools accounted for the largest share of starts at 81%, rising 51% year-on-year, whilst universities represented 11% of starts, declining 24% on the previous year. Colleges fell 39% year-on-year. London was the most active region for project starts at 22% of total activity, rising 217% year-on-year, followed by Scotland at 15% with 203% growth. In planning approvals, Scotland held the largest share at 34%, increasing 153% year-on-year, whilst the North East and Yorkshire & the Humber delivered significant uplifts, rising 156% and 225% respectively. Out of office The office sector delivered strong project starts in the three months to February, rising 54% year-on-year. However, the pipeline showed signs of weakening, with main contract awards declining 14% and detailed planning approvals falling 28% compared with the previous year, suggesting the robust performance experienced in recent months may be tailing off. All value bands experienced growth in project starts. Projects over £100 million rose 62%, schemes between £50 million and £100 million grew 27%, whilst projects between £20 million and £50 million rose 40%. London dominated office project starts, accounting for 63% of activity after a 70% rise, supported by major schemes including the Row One development at Red Lion Court in Southwark. The South West also recorded a sharp uplift, rising sixteen times higher than a year ago, driven by the 90-acre technology campus for US healthcare software company Epic, between Long Ashton and Bristol. In planning approvals, London led despite a 43% annual decline, whilst the South East performed more strongly, rising 112% year-on-year, and the North East saw exceptional growth, climbing tenfold. Building, Design