Over 90 projects worth more than £700m delivered across South West Scotland since 2012 hub South West Scotland (hub SWS) has marked its 10-year anniversary as one of Scotland’s leading delivery partners for community-changing infrastructure projects. One of Scotland’s leading public-private partnerships, hub SWS provides high quality and cost-efficient infrastructure
MWJV has published its annual report for year three of Cornwall Council’s BEPS Framework: 2021/2022 A Cornish construction and professional services consultancy has generated an added social and economic value of £34.9 million as a result of its work with Cornwall Council over the past three years. Mace Ward Williams
Contractor G F Tomlinson has completed construction works on the AMP building at Arnold Town Centre in Gedling, Nottinghamshire. The flagship scheme benefited from an opening ceremony, attended by Deputy Leader, Councillor Michael Payne, Councillor Jenny Hollingsworth, Chief Executive of D2N2, Will Morlidge, tenants from three of the new units
Almost £6 billion has been given out in discounts through the Right to Buy (RTB) scheme since the size of the discount was increased in 2012, new analysis by the Local Government Association reveals. The LGA, which represents more than 350 councils in England and Wales, warns that the scheme
CHESHIRE West and Chester Council, together with its partners, has taken possession of a new transformational £16m public services hub to complete the first phase of redevelopment in Ellesmere Port town centre. The building, named The Portal, was designed by leading independent property, construction and infrastructure consultancy Pick Everard. The
Despite Covid, local authorities spent over £100 million more on construction in 2020/21 than in 2015/16 Welwyn Hatfield Council increased its construction funding the most (5,482%) On average, each local authority spent £28 million on construction in 2020/21 – up 3% New research has revealed the UK local authorities that are increasing their construction funding at the
Construction work has begun on transforming a former post office in Warrington town centre into a £3.2 million aparthotel. Leeds-based main contractor, Priestley Construction, is delivering the development for its clients, Danny Inman Property and Priestley Homes. Situated on Palmyra Square, the contractor is converting the upper floors of the
Countryside, the UK’s leading mixed-tenure developer, has signed an agreement with the Department of Education to deliver Ark Soane, a mixed-use development in Ealing, West London, comprising a new 1,200-pupil secondary school, Ark Soane Academy, and 116 high-quality homes. Following a public procurement process, Countryside has been selected by LocatED,
Colchester Borough Council’s ambition to provide more high-quality, council-owned, affordable homes has taken another major step forward as construction starts on the building of new family houses and apartments in Military Road, Colchester. The council’s project is one of several housing developments that are delivering a promised 350 additional homes across
Southwark Councill has acquired the former Toys R Us site at 760 Old Kent Road as part of its plans to secure the Bakerloo Line extension and increase housing supply in the borough. The 2.59-acre site was sold by CBRE, on behalf of the Joint Fixed Charge Receivers. It is currently
Over 90 projects worth more than £700m delivered across South West Scotland since 2012 hub South West Scotland (hub SWS) has marked its 10-year anniversary as one of Scotland’s leading delivery partners for community-changing infrastructure projects. One of Scotland’s leading public-private partnerships, hub SWS provides high quality and cost-efficient infrastructure projects for the public sector, spanning education, social housing, healthcare, leisure, office and regeneration projects. Since it was formed in 2012, the company, led by Chief Executive Michael Ross since 2021, has delivered an incredible portfolio of 90 projects worth over £717m. More than 20 projects are currently in construction and development, worth over £480m. With a fierce commitment to driving economic development across south west Scotland, hub SW has awarded a total of £365,287,517 worth of work packages to local construction companies across the territory. In addition, since its inception, hub SW has created 680 jobs and over 630 apprentices across south west Scotland. hub SW marked the milestone occasion with an event in Glasgow on Thursday 10 November which was attended by over 200 colleagues and staff from dozens of participant and partner organisations. Welcoming the anniversary, hub SWS Chair, Dr Willie Mackie, said: “We are very proud to have reached this fantastic milestone – celebrating ten years of delivering infrastructure projects which are truly life changing to local communities across south west Scotland. “Michael leads a fantastic team who are all champions for our company and the incredible economic and social benefits it helps deliver. The passion, commitment and expertise of our people underpin each and every project we deliver, from inception to close. “It was fantastic to welcome so many of our colleagues from across the industry to our celebration. Their support is invaluable. We look forward to many more years of delivering projects for south west Scotland.” Championing economic development across its territory has been a crucial part of hub SW’s work over the last decade and to help spread its support, it has created and operates three bespoke training programmes – Build Lanarkshire, Build Ayrshire and Build Dumfries and Galloway. Now in its fifth year, the Build programme offers businesses in the construction sector the opportunity to gain valuable industry advice to help them grow and achieve their market goals. The free programme is delivered over eight weeks and welcomes those specialising across all areas of construction. When you also overlap the skills programme focused on STEM initiatives with local schools and colleges, along with work experience and apprentices and the community investment model, hub SW offers a proven platform for delivering tangible positive outcomes for local communities. Overview of hSW deliverables since 2012: hub South West Scotland (overall): ● 91 projects completed worth £717m ● 680 jobs created ● 633 apprentices created ● 509 work experience placements offered ● 429 local supply chain engagement events Ayrshire ● 35 projects completed worth £398m ● 435 jobs created ● 404 apprentices created ● 281 work experience placements offered ● 246 local supply chain engagement events Lanarkshire ● 21 projects completed worth £157m ● 185 jobs created ● 167 apprentices created ● 176 work experience placements offered ● 127 local supply chain engagement events Dumfries & Galloway ● 6 projects completed worth £87m ● 60 jobs created ● 62 apprentices created ● 52 work experience placements offered ● 56 local supply chain engagement events ENDS. CONTACT DETAILS For more information, please contact: Amy Groden – amy.groden@perceptivecommunicators.co.uk / Tel: 07791 708659 Building, Design & Construction Magazine | The Choice of Industry Professionals
MWJV has published its annual report for year three of Cornwall Council’s BEPS Framework: 2021/2022 A Cornish construction and professional services consultancy has generated an added social and economic value of £34.9 million as a result of its work with Cornwall Council over the past three years. Mace Ward Williams Joint Venture (MWJV), which is a joint venture between Mace and Ward Williams Associates, has released its annual report. This follows its third year of work with Cornwall Council on the £650 million construction and infrastructure capital programme of investment within the Built Environment Professional Services (BEPS) Framework. In the report the Truro-based firm shared a summary of its work across the programmes to date. The added social and economic value has been achieved through the creation of new jobs, facilitated training and via spend with local and small businesses. Jeremy Dunn, MWJV’s Managing Director said: “In the built environment sector we know that we can have a more profound impact than is often understood, and this overview of our work to date reinforces that. “MWJV is a team of Project and Cost Managers, Architects, Engineers and many others – all working as a local Cornish-based team to create spaces, infrastructure and buildings that improve people’s lives and support the local economy. As well as the calculated economic impact, the long-term legacy that such work with Cornwall Council can create is significant to ensure a capable and vibrant future workforce for the county. “Our achievement of the social value targets which we set up and agreed with Cornwall Council from the standards of the Construction Industry Training Board is a real high point. For instance, we’ve created 95 new jobs across our partner businesses in the region and 15 apprenticeships against a target total of nine, exceeded the target of four construction careers events by 41 and delivered 199 weeks of training against a target of 63.” MWJV works with its wide network of local and national suppliers to bring expert and cost-effective project management, architecture, engineering and surveying support to a range of programmes across Cornwall ranging from transport, schools, town regeneration and housing. Projects the company has been working on include Spaceport Cornwall, Looe Flood Defence, Town Deals for Truro, St Ives, Camborne and Penzance, and the Schools Basic Needs and Backlog Maintenance Programmes. Dunn continued: “We’ve had some great results and are happy to be able to evidence our value and continued improvement. We’ve learned a lot from working on the BEPS Framework and are now looking forward to our fourth year where we hope to continue to exceed our targets. “The annual reports are a great chance to reflect on the work we’ve been doing and are an important step in helping us to continue to refine and improve our processes to ensure we’re delivering the best and most cost-effective work for the people of Cornwall.” The report also explores the financial performance of the company which this year turned over £8.17m with £16,000 in charitable donations. Key performance indicators are shared, with the vast majority meeting and exceeding targets, and customer satisfaction has resulted in a net promoter score of 47. The full annual report is available for download from MWJV’s website: https://www.mwjv.net/our-performance Building, Design & Construction Magazine | The Choice of Industry Professionals
Contractor G F Tomlinson has completed construction works on the AMP building at Arnold Town Centre in Gedling, Nottinghamshire. The flagship scheme benefited from an opening ceremony, attended by Deputy Leader, Councillor Michael Payne, Councillor Jenny Hollingsworth, Chief Executive of D2N2, Will Morlidge, tenants from three of the new units and representatives from G F Tomlinson. “We’re really pleased to have successfully completed The AMP building and play our part in contributing towards Gedling Borough Council’s pledge to decrease its CO2 emissions by 2030. The flagship building is a significant investment for the local region, which will revitalise the town centre and help to boost the local economy. We look forward to seeing residents enjoy the new shops and eateries and welcoming visitors to the community,” said Craig Stopper, Regional Construction Framework Manager at G F Tomlinson. Completed through Gedling Borough Council and procured via the SCAPE Regional Construction framework, the £4 million scheme will be creating spaces that will bring a sustainable legacy within the local community. As proof, the two-storey building will be home to new start-up businesses, including a wine tasting experience outlet, a cat and dog accessory and treats store, a cake shop and delicatessen, as well the Post Office. Funding for the project came from the council’s capital programme budget, which was boosted by a successful bid for the £1.25 million D2N2 Local Enterprise Partnership’s Local Growth Fund to support town centre improvements. Overall, 40 new jobs have also been created, through business employment and construction of the new buildings. At the heart of the building’s design are sustainability and renewable energy, with 51 solar panels, natural ventilation points, high efficiency LED lighting and air source heat pumps having been installed. Rainwater retention tanks have also been installed to reduce flood risks and feed the semi-mature trees that have been planted around the public realm to offset carbon emissions. “We are incredibly pleased that the AMP building is officially complete, and our new tenants will begin moving into this wonderful new building in the heart of Arnold Town Centre,” commented Leader of Gedling Borough Council, Councillor John Clarke. “I would like to thank everyone involved in helping to get this ambitious project over the line, it has taken a colossal amount of work to get this done by Gedling Borough Council staff, G F Tomlinson and several other partners who all contributed to this project and made it a success. We made a manifesto pledge that we would revitalise the town centre and this will be the jewel in the crown for Arnold,” he concluded. Building, Design & Construction Magazine | The Choice of Industry Professionals
Almost £6 billion has been given out in discounts through the Right to Buy (RTB) scheme since the size of the discount was increased in 2012, new analysis by the Local Government Association reveals. The LGA, which represents more than 350 councils in England and Wales, warns that the scheme is becoming unsustainable, with councils struggling to rebuild homes as quickly as they are being sold. The size of the discounts available were increased in April 2012, and as a result the average discount has increased by 150 per cent to more than £67,000 in 2020/21. At the same time, this has led to a quadrupling in the number of Right to Buy Sales. Councils are also not able to keep all of the money from RTB sales. This means that they have only been able to replace around a third of homes sold since 2012, impacting on their ability to provide housing for homeless and vulnerable families. While Right to Buy has helped many families get on the housing ladder, the LGA said the scheme faces an uncertain future unless councils are given the flexibility to set discounts locally and retain 100 per cent of sales receipts to fund the replacement of homes sold off under the scheme. Councils also need to be able to combine RTB receipts with government grant funding, such as the Affordable Homes Programme, and transfer funding from sales to ALMOs or housing companies to give them greater flexibility over how new council housing is delivered. Cllr David Renard, housing spokesperson for the LGA, said: “Councils want to urgently address the number of people on waiting lists for a council home and stuck in temporary accommodation. At a time of an escalating cost of living crisis, we urgently need to build more council homes, not have less. “It is becoming impossible for councils to replace homes as quickly as they’re being sold and they are increasingly having to do so with far less money than the property sells for because of discounts being offered. “Every home sold that isn’t replaced risks pushing more families into the private rented sector, driving up housing benefit spending and rents and exacerbating our homelessness crisis. “Right to Buy continues to enable many families to achieve their dream of getting on the housing ladder and owning their own home. However, without reform of the scheme, future generations will not enjoy the same opportunity.”
CHESHIRE West and Chester Council, together with its partners, has taken possession of a new transformational £16m public services hub to complete the first phase of redevelopment in Ellesmere Port town centre. The building, named The Portal, was designed by leading independent property, construction and infrastructure consultancy Pick Everard. The three-storey building provides a range of services to the public from several different agencies, as well as providing accommodation that meets the demands of the council’s modern workforce strategy. The new space will be home for 580 staff employed by the council, DWP and other service providers. The scheme also incorporated a new bus facility and extensive public realm works to improve transport links and facilities for the public. Pick Everard – operating under Perfect Circle’s unique collaboration – was appointed to provide architecture, interior design and landscape services through SCAPE’s Built Environment Consultancy Services (BECS) framework. Andy Robinson, director at Pick Everard, said: “Cheshire West and Chester Council has a fantastic new facility in the heart of Ellesmere Port. We promised to deliver a scheme that places greater emphasis on the use of the space and The Portal’s 4,000 square metres and surrounding external areas truly accomplish this. “Value for money is essential for our public sector clients and this has been achieved to great effect on this project. Through close collaboration and consultancy, we’ve been able to ensure that the completed scheme represents the priorities identified by the council.” The Portal is a single shared hub that facilitates agile working, therefore reducing the demand for space and enabling the council and other agencies to consolidate their presence into a smaller footprint. As a result of this, money is being saved and carbon emissions are being reduced while also providing a much-improved work environment. With the intention to improve access to public services and bring all the disparate arms and services of local government into a single shared hub, The Portal is a regeneration project that serves its practical purpose and acts as the catalyst for regeneration in the town. Importantly, the building is designed to improve the customer experience enable them to access a wider range of services in one location. This includes employment, skills and learning, welfare and benefits support, advice and information, community safety and prevention, health and well-being and housing support. The building contains public art that is on permanent display. Consultation with the local community during the design stage led to creations that represent the purpose of the space, which has been developed in the interest of the local area and not only those who use the on-site facilities. Civic Way was a critical element of the scheme. Road priorities have changed with Civic Way now only accessible to buses and service vehicles, reducing traffic on a previously busy thoroughfare. The area is now a much more pedestrian friendly environment as a result of the careful public realm design its relationship with the new bus facility. The widening of the street to allow for bus lay-bys and new bus stands enabled the opportunity to relocate the old poor quality bus interchange and create space for The Portal. Public realm improvements did not stop with Civic Way. The Port Arcade entrance from Wellington Road has been made more pedestrian friendly, with accessibility and enjoyment of the space receiving attention due to the high footfall. Councillor Louise Gittins, leader of Cheshire West and Chester Council, said: “The opening of The Portal is an exciting moment for the community as it is providing a versatile building for a range of stakeholders. “The project team has completed a scheme to be proud of following an important consultation process and we can’t wait to share the newly improved space with the people of Ellesmere Port.” The importance of the project to the local workforce and wider community meant that public engagement was maintained throughout. To create learning opportunities, contractor Vinci Construction engaged with The West Cheshire College to make site visits and construction talks a possibility for students. David Nisbet, partner at Pick Everard, said: “We’re pleased to have supported Cheshire West and Chester Council on the development of The Portal, as it adopts the government’s One Public Estate programme. “The Portal marks another project within our portfolio that has achieved BREEAM Very Good certification, proving the growing opportunity for sustainable solutions in towns likes Ellesmere Port that are undergoing regeneration.” For more information on Pick Everard, visit www.pickeverard.co.uk/
Despite Covid, local authorities spent over £100 million more on construction in 2020/21 than in 2015/16 Welwyn Hatfield Council increased its construction funding the most (5,482%) On average, each local authority spent £28 million on construction in 2020/21 – up 3% New research has revealed the UK local authorities that are increasing their construction funding at the fastest rate, with some councils upping their spend by more than 5,000% over five years. IronmongeryDirect issued Freedom of Information requests to each local authority and asked how much they spent on construction projects, including buildings, roads and railways, in the 2015/16 and 2020/21 financial years, to see how investment has changed over time. Despite the impact of the pandemic, almost half (49%) of the local authorities that responded spent more on construction in 2020/21 than they did five years earlier. Funding across the UK rose by over £100 million (3%) from £4.63 billion in 2015/16, to £4.77 billion in 2020/21. In the last financial year, each local authority splashed out an average of £28 million on construction. Twenty-nine councils more than doubled the amount they spent on the industry and the average increase across the country was a remarkable 154%. The average increase stands so high because nine local authorities saw rises of over 1,000%. Welwyn Hatfield council, in the East of England, reported the greatest increase – a staggering 5,482% (£763,863 up to over £42.5 million). Local authorities that have increased construction at the fastest rate over the last five years (2015/16 to 2020/21): Out of all the local authorities, Leeds City Council spent the largest overall amount, with a total of £389.8 million allocated for construction. The authority also recorded nationwide highs for both general construction costs (£272.1 million) and road infrastructure (£117.6 million). Birmingham City Council, meanwhile, spent the largest amount on building construction (£279.8 million), whilst Pembrokeshire Council spent the most on open spaces (£9 million), such as parks, play areas and gardens. Hertfordshire County Council topped the list for bridges, having spent £9.6 million. Dominick Sandford, Managing Director at IronmongeryDirect, said: “After the difficulties the construction industry has faced over the last two years due to the Covid 19 pandemic, it’s incredibly reassuring to see large scale increases in local funding across the UK. “With the industry continuing to recover from recent setbacks, it’s a positive sign that many local authorities are feeling confident enough to increasing their investment into local infrastructure and construction work.” To explore an interactive map showing the amount of construction funding in your area, visit: https://www.ironmongerydirect.co.uk/research/construction-funding/
Construction work has begun on transforming a former post office in Warrington town centre into a £3.2 million aparthotel. Leeds-based main contractor, Priestley Construction, is delivering the development for its clients, Danny Inman Property and Priestley Homes. Situated on Palmyra Square, the contractor is converting the upper floors of the Grade-II listed building into 21 high-specification apartments for short-term rent. During the extensive renovation project, many of the building’s original features will be meticulously refurbishing and retained. Existing flooring will be built up to achieve the best acoustic separation from the restaurant and bar on the ground floor, which will continue to operate. Installation of high-tech entry systems will allow hotel guests to enter the aparthotel using just their smartphones. Priestley Construction is inviting local subcontractors to bid for work on the development as it progresses, to support businesses in the area. “Warrington is undergoing significant regeneration, driven by an ambitious, forward-thinking council. Design on this brand-new aparthotel meets the highest specification, while retaining a part of the local heritage. We are creating some of the most desirable hotel rooms the town has to offer,” said Nathan Priestley, chief executive of Priestley Construction. The construction programme commenced in June 2021, with completion expected in Q2 2022.
Countryside, the UK’s leading mixed-tenure developer, has signed an agreement with the Department of Education to deliver Ark Soane, a mixed-use development in Ealing, West London, comprising a new 1,200-pupil secondary school, Ark Soane Academy, and 116 high-quality homes. Following a public procurement process, Countryside has been selected by LocatED, an Arms-Length Body to the Department for Education, to deliver this multi-million-pound development. A large proportion of the new homes is being constructed for the Greater London joint venture between Sigma Capital Group plc, the build-to-rent specialist, and its partner, EQT Exeter, part of global investment firm, EQT, and will be for the private rental market. Once constructed, these 92 apartments will be let and managed by Sigma Capital Group plc, under the ‘Simple Life London’ rental brand. Of the remaining homes in the new development, 21 will be affordable, managed by Network Homes, and three will be for open market sale by Countryside. The new homes will be located close to The Woodlands Park as well as Acton High Street and will enjoy excellent transport links. A sustainable energy centre utilising a Ground Source Heat Pump is also being delivered as part of the development. Countryside has entered into a £52m design and build contract with Jerram Falkus Construction to deliver all construction works associated with the school and residential development. Full planning permission has been secured, and the new Ark Soane Academy is due to open by September 2022. Designed by Pollard Thomas Edwards Architects, the Ark Soane mixed-use development will see the secondary school occupying the first three floors of the 6 to 12-storey building, with 113 apartments located above this, in addition to three separate townhouses on the site. Ark Soane Academy will be connected to a new nearby sixth form college, and will use the surrounding grounds, which include a multi-use games area, sports hall and playgrounds. Daniel King, Managing Director, Partnerships West London & Thames Valley, Countryside, said: “We are excited to get started on this innovative project which will not only deliver a state-of-the-art new school, but also deliver much-needed new homes in Acton. Drawing on over 30 years of experience of working in partnership to deliver major regeneration schemes across the UK, we’re looking forward to bringing Ark Soane Academy to life with the Department for Education, Sigma Capital, EQT Exeter, Network Homes and Jerram Falkus Construction.” Steven Brewster, Acquisitions Director, Sigma Capital Group plc, said: “We’re delighted to be part of this fantastic new development. It will add 92 homes to our growing portfolio of build-to-rent homes in Greater London with our JV partner, EQT Exeter. We have been working in partnership with Countryside for over 10 years across other parts of the UK, delivering new homes and regenerating local areas. We’re really excited to be bringing the success we’ve experienced in the regions to the London market and look forward to bringing our formula of high-quality homes, matched by award-winning customer care, to renters in Acton.” David Gooch, Network Homes Executive Director for Development, said: “We’re really pleased to be supporting the delivery of much-needed affordable homes at this development which will see a fantastic educational facility provided at Ark Soane. Network will be delivering 12 properties for London Affordable Rent and nine for London Living Rent, an excellent scheme helping people to save for a deposit to buy their own home.” William Jerram, Joint Managing Director, Jerram Falkus Construction Ltd, added: “We are delighted to be working with Countryside and LocatED to deliver this exciting scheme. We thank our design team, led by Pollard Thomas Edwards, together with Max Fordham, Price and Myers, Montague Evans and Outerspace. To ensure its success, we have worked very closely to redesign the external envelope to comply with the latest ‘B’ regulations” and simultaneously progress the design and programme to deliver the School for the 2022 academic year. It involved a lot of commitment and work at risk, with the reward of starting works in February 2021.”
Colchester Borough Council’s ambition to provide more high-quality, council-owned, affordable homes has taken another major step forward as construction starts on the building of new family houses and apartments in Military Road, Colchester. The council’s project is one of several housing developments that are delivering a promised 350 additional homes across the borough by 2024. Colchester Amphora Homes Ltd (CAHL), the council’s commercial housing company, is project managing the development, working in partnership with Colchester Borough Homes On 8th February Tiptree-based building contractors, TJ Evers, began work on the development which is located south of Colchester within easy walking distance of the Town Centre. In total, eight new homes are under construction, comprising a mix of six apartments and two houses. Designed by award-winning architects, Barefoot & Gilles, the properties feature high-quality and attractive finishes including zinc cladding and rusticated brick. In addition, as part of the Council’s response to the climate emergency declaration made in 2019, all the homes are being built to the Government’s Future Homes 2025 principles. Each property uses triple glazing, heat pumps and high-efficiency LED lighting to provide a distinctive example of sustainable and affordable housing design. Cllr Theresa Higgins, Portfolio Holder for Commercial Services, said: “It’s very encouraging to see construction work begin on the delivery of these high-quality and energy efficient homes. Action to deliver more quality homes in the borough is always welcome as is the boost this gives to local employment to help support the growth of our regional economy.” Along with providing safe and secure accommodation to local residents, tenants will also have access to the services and support provided by Colchester Borough Homes and its partners within the community. Cllr Adam Fox, Colchester Borough Council’s Portfolio Holder for Housing, added: “We continue to work closely with Colchester Amphora Homes, to explore and develop more opportunities to expand our stock of affordable homes. Once completed this new development will provide vital new homes to local people and demonstrate our commitment to tackling the housing crisis in Colchester.” The new properties at Military Road are expected to be available to tenants from early 2022. Find out more about plans for new council homes, here: https://www.colchester.gov.uk/info/category/?id=/new-council-homes
Southwark Councill has acquired the former Toys R Us site at 760 Old Kent Road as part of its plans to secure the Bakerloo Line extension and increase housing supply in the borough. The 2.59-acre site was sold by CBRE, on behalf of the Joint Fixed Charge Receivers. It is currently occupied by Lidl on a lease expiring in 2028. It will become one of two new underground stations on the Old Kent Road, with Southwark Council planning to build at least 500 homes over the station. This is the latest purchase by Southwark as part of its plans to provide 11,000 new council homes by 2043. In 2019 it acquired the former Currys PC World site at 589 Old Kent Road for c550 homes, 593-613 Old Kent Road for 110 homes and 711-717 Old Kent Road for 200 homes and commercial space. Earlier this month Southwark Council’s updated Old Kent Road Area Action plan was launched for consultation, with further regeneration and provision of housing, commercial, community, cultural and green spaces all part of the proposed changes. Montagu Evans has advised Southwark Council on most of the site acquisitions needed to fulfil its housing commitments, including this deal. All acquisitions were of properties with existing investment income but with medium to long term opportunities to redevelop. Sam Blake, Partner at Montagu Evans, said: “This is an important strategic site for Southwark, accommodating a new tube station and increasing housing supply to help meet its ambitious targets. Better transport infrastructure will be a huge advantage to the area and this this investment should make the process much smoother as well as providing the Council with a good income stream while longer-term plans are being worked up.” Jonathan Allen, Residential Development at CBRE, said: “The disposal of 760 Old Kent Road to Southwark Council followed a competitive open marketing campaign, symbolising strong current market appetite for assets which benefit from short term income, underpinned by improving infrastructure and significant residential latent redevelopment value. This important site is a key part of the Old Kent Road masterplan having been identified as a location for a new underground station for the proposed Bakerloo line extension. This purchase follows the news that TfL remain committed to delivering the extension, and that their immediate priority is safeguarding the route from Elephant & Castle to Lewisham; emphasising the importance of the project in transforming the lives of those living and working on Old Kent Road.”
