Leeds is seemingly becoming an increased hotbed of commercial activity, with notable demand for office space in the city, both as consequence and result. As such, this demand has led to a considerable spike in those rents associated with quality refurbished space, where Savills has reported these values hitting circa
A mixture of good and bad can be perceived in the professional trades industry. On the one hand, it has been noted that there has been a great surge in tradespeople confidence, hitting the highest figures it has reached in the past 3 years; certainly a good sign of success
In modern society, an increasing import is placed upon the energy efficiency and performance of modern buildings, with the building industry as a whole being pushed to develop buildings which can support the nation’s need for reduced energy consumption and associated price inflation. Yet, in contrast to this, a recent
Unphased by some of the major changes in tax this year, it has been reported (in recent research) that the majority of UK property investors (circa 56%, in fact) are resolute in continuing with plans to purchase further buy-to-let assets over the course of the next year. The news is,
Plans for a community-owned wind farm in Cornwall have been submitted by UK-based, green energy proponent, Good Energy. If approved, it will be one of few in the nation that doesn’t rely on either financial backing or government subsidies and could mark the dawning of a new era in renewables
This year, it has been announced that Dudley’s Aluminium, a leading fabricator of aluminium, will be commencing on a brand new project at Gatwick Diamond for new office space. With the development looking to create revenue for emergency services on the front line, the offices are to be positioned on
For the public sector, budgets have been ever-tightening, which is, as one would expect, a worrying trend for those providers of integral services such as education. Yet, whilst the picture does indeed look bleak from a funding perspective, there is always a way in which organisations can look to maintain
It has recently been reported that East Midlands based renters are happier with their landlord in contrast with any other location in England. The research, carried out by the NLA, highlighted that some 83% of renters in the area commented on their satisfaction with their present landlord, with those from
BESA has recently announced that it is now looking for nominations with regard to 2 of its management awards, set out to recognise the incredible work being done by many of the building engineering services sector’s present engineers, and future business leaders. The first award, dubbed the Alfred Manly Management
Following on from the unfortunately incident last Tuesday, it has been confirmed that emergency services are presently working hard on the recovery operations at the Didcot A Power Station, with the differing subsections of the emergency services each working together to maintain the safety of workers while trying to complete
Leeds is seemingly becoming an increased hotbed of commercial activity, with notable demand for office space in the city, both as consequence and result. As such, this demand has led to a considerable spike in those rents associated with quality refurbished space, where Savills has reported these values hitting circa £26 per square foot of office space; a figure which remains £1 shy of new-build, Grade A offices (£27 per square foot). The major factor to which this situation can be attributed seems to be the enhanced levels of demand seen from organisations which are aiming to “set up shop” and benefit from the comparatively low living and property costs in the city. This, in effect, has led to such increases in demand volume and associated developments that Leeds now stands as the city with the second largest volume of development starts, as reported by Savills. Yet, whilst the situation is naturally prey to the whims of the uneven scales of supply and demand, the increased number of new developments is expected to tip the scales slightly more favourably for those looking for office space over the course of the year. As such, the available stock of suitable office spaces is expected to re-open the difference between new-build and refurbished office spaces as, one might argue, it should be. Looking at the levels of investment, it has also been reported by Savills that, over the course of the previous year, prime equivalent yields with regard to regional offices has moved in by 50 bps, hitting 4.75%. Additionally, the volume of investment into the market for office space outside of the capital city has risen notable during the past 2 years. Savills’ Associate Director of Office Agency, Paddy Carter commented: “Leeds will see a step change in the quality and variety of space available to occupiers this year.” To pre-empt this, of course, there has already been a surge of interest from occupiers of all shapes and sizes.
A mixture of good and bad can be perceived in the professional trades industry. On the one hand, it has been noted that there has been a great surge in tradespeople confidence, hitting the highest figures it has reached in the past 3 years; certainly a good sign of success in the industry itself. Yet, on the flip-side, it has been reported that, despite this level of confidence (and perhaps as consequence of), it is also the case that some 58% of tradespeople are actually needing to turn down work (published in ECIS’s latest industry survey). With a positive 48% of tradespeople who partook in the survey commenting that they remain confident about their success over the coming year, it could be theorised that the sector is performing fairly well. Yet, with 41% also saying that they feel considerable pressures on the fulfilment of contracts, there are also concerns that the profession is simply under too much pressure to pursue an “all work and no play” philosophy to life. With a questionable balance in fray on the division which tradespeople will be able to maintain between work and general day-to-day life, some 60% of respondents noted to the pressures they feel from work and 25% commenting that they also need to work evenings and weekends on a regular basis. This poses a concerning question as, while the industry does seem to be performing well in terms of confidence and levels of work available, it is mixed with those concerns as to the profitability of working in the sector when bearing in mind the sheer workloads and stresses associated with it. As a result, 22% of those surveyed have denied that they would look to encourage new blood to pursue a career in the industry, which is also effectively where the future of the industry itself will lie. Phil Scarrett, ECIS’s Sales and Marketing Director commented: “There is no shortage of work to go around, but serving that demand is evidently a source of significant pressure for tradespeople.”
In modern society, an increasing import is placed upon the energy efficiency and performance of modern buildings, with the building industry as a whole being pushed to develop buildings which can support the nation’s need for reduced energy consumption and associated price inflation. Yet, in contrast to this, a recent report from Innovate UK has criticised the actual performance of modern buildings, highlighting that the actual energy consumption is actually considerably higher than figures oft batted around. To highlight these results, a study was undertaken on a total of 49 cutting edge modern properties to assess the levels of energy consumption and how these sit with the predicted figures. In the study it was revealed that non-domestic buildings are actually regularly using 3.5 times as much energy as they have actually been built to use, meaning that they are unable to meet the expectations laid out from the design and build stages. While developers have been trying hard to push the envelope on modern construction from a sustainability perspective, It was concluded in Innovate UK’s report that many schemes have hit difficulties in the implementation of emerging technologies such as BMS. Additionally, it has also been highlighted that other common problems have included the way in which biomass boilers are controlled and metered, the provision of maintenance and also solar panels and water heaters. As such, whilst organisations are already trying hard to meet governmental expectations of energy use, Innovate UK has called out for contractors to utilise the information it has collated as a springboard from which they can develop new ways to improve building performance, reduce energy consumption and effectively feed the benefits of these efficiencies back into the wider economy. It also provided comment that EPCs are not able to offer reliable predictions on energy usage, with very little correlation between such EPCS and Display Energy Certificates.
Unphased by some of the major changes in tax this year, it has been reported (in recent research) that the majority of UK property investors (circa 56%, in fact) are resolute in continuing with plans to purchase further buy-to-let assets over the course of the next year. The news is, as expected, regarded as a bold move for such investors with reference to the previously reported market changes which will make it even more difficult for buy-to-let properties to effectively turn a profit (many reported to even have losses predicted). Of course, those looking to invest aren’t just diving in head-first, and it is instead reported that many are taking a responsible approach to their investment, with many establishing themselves as limited companies so as best to minimise the impacts of this year’s tax changes (circa 40%). Additionally, many other investors have laid out plans to increase rents at their properties to ensure a level of profitability also (some 33%). Yet, naturally, some investors have taken heed of the changes to both stamp duty and tax relief, taking a more cautious approach to their investment plans. Of those which have stated not to be securing any additional buy-to-let assets this year (the remaining 44%), a large portion (20%) attributed this to caps placed on tax relief, whilst most of those remaining (16% in total) referred to the changes made to stamp duty as one of the key causes of concern. However, following on from our recent nod to the industry changes, the news is well received, with a shade more confidence in the sector than was originally predicted. Naturally, the prospects highlight an unforeseen continuation in opportunity for industry lenders, who will be able to continue benefiting from the considerable interest in buy-to-let properties and commercial mortgages. How long this trend is to continue, however, is hard to say.
Plans for a community-owned wind farm in Cornwall have been submitted by UK-based, green energy proponent, Good Energy. If approved, it will be one of few in the nation that doesn’t rely on either financial backing or government subsidies and could mark the dawning of a new era in renewables technologies. The project will see the construction of 11 turbines with a generating capacity of 38.5MW near Bude in Cornwall. It is currently being considered by the Planning Inspectorate and will be reviewed in respect of is local impact, as well as global impact. Good Energy has remained open-minded about investment into the project, dubbed “Big Field Wind Farm”, and hopes the project will be be majority-held by local investors and residents. Juliet Davenport, Founder and CEO of Good Energy described plans as a “bold and innovative response” to last year’s Autumn Statement and Spending Review which has had disastrous consequence for the renewables sector. She continued to say that it would provide local people that opportunity to do their bit for the sustainability agenda, as well as representing great financial reward. With local ownership, all of the wind farm’s turnover will remain in the area and can be re-invested in the development of Cornwall. Back in 2014, plans were rejected by planners owing to the lack of clarity on government spending. Designs has since been re-drawn and will see the site increase its generating capacity by 50% whilst retaining the maximum height of the turbines at a proportionate small 125m. The revised plans also detail how the farm will be self-sufficient, operating exclusively on the payback from electricity generated. “Big Field Wind Farm” is hoped to provide power to over 22,000 homes local to the region. The concept of community ownership came in acknowledgement of the findings of a public opinion poll last September. The survey found that three quarters of all UK households were keen to support renewable energy projects providing profits directly benefited the local community.
This year, it has been announced that Dudley’s Aluminium, a leading fabricator of aluminium, will be commencing on a brand new project at Gatwick Diamond for new office space. With the development looking to create revenue for emergency services on the front line, the offices are to be positioned on brownfield land, effectively allowing for the land to create new streams of revenue for important emergency operations and to effectively minimise the impact of budget cuts on the provision of service. With the Gatwick Diamond possessing what may be some of the strongest commercial prospects of any local economy in the UK, the area plays host to around forty five thousand organisations already, with the new office space looking to create a further influx in employment opportunity for the local community. As such, the development is greatly anticipated as, not only supporting core essential public services, but also in expanding the commercial traffic through the area. As for the project, the organisation has been able to confirm a £670k contract where it will see the provision of much-needed facade and glazing across the development, working alongside Metal Technology to develop curtain walling solutions for the property. These solutions are then to be integrated alongside automatic smoke vents and sliding entrance doors, providing not only a pleasant, but also efficient office environment for those working there. The project itself is expected to reach completion at a later point in the year and also serves as one of the most integral projects for Dudley’s Aluminium in the area this year. In addition to this project, however, it will also be continuing to work on its £300k project in support of the upcoming Acorn Retail Park which will, once again look to create vast amounts of employment and jobs in the area; leading retailers such as M&S and Aldi also playing a role in the development.
For the public sector, budgets have been ever-tightening, which is, as one would expect, a worrying trend for those providers of integral services such as education. Yet, whilst the picture does indeed look bleak from a funding perspective, there is always a way in which organisations can look to maintain the level of service they are able to deliver in a more efficient and cost-effective manner. On-site Power Generation Through systems such as Combined Heat and Power (CHP), organisations, especially those with large, spanning estates, can look to reduce their energy costs considerably through the incorporation of power generation techniques on-site. But this isn’t limited solely to CHP, as, with the increased popularity and recognition of renewable generation surges, additional options are also available, most notably solar PV. And while pursuing this course of action would indeed trump up an initial cost, when looking at the traditional energy usage of say, a university campus, the savings per year through pursuing such power generation techniques is substantial. While today, such schemes won’t bring about any relief from budgetary cuts, tomorrow perhaps, they just might. Energy Reduction Techniques When looking at methods to reduce energy consumption, suffice to say that the best method to pursue depends most aptly on the primary activities and energy use of any given organisation. That said, there are still a few simple, tried-and-tested ways to reduce energy use for most organisational archetypes. One such method is through the usage of motion-sensor LED lights. Though lighting might initially be considered quite a small cost on a day-to-day basis, organisations have increasingly found that, with expanding estates, the costs associated with keeping premises properly lit to be quite costly in the long-term. Through the usage of motion sensing LED lights, organisations can not only improve the efficiency of their lighting solutions while in use, but can also improve larger-scale efficiencies within rooms not in use all day, every day. Procurement Channels While, for the public sector, there are always frameworks abound for organisations to tap into as a source of supply chain developments, this often isn’t the only choice available. Specifically for universities, buying consortiums and groups such as TUCO, ESPO, LUPC and more, offer a range of contractor archetypes, each procured from a value-for-money perspective. This means that, while services may be procured at a more manageable value with budgeting in mind, the level of quality and service remains unquestioned. Arguably, these groups offer an unquestionably essential service for those looking to find best-value within the supply chain. Regardless of method, however, the importance of refining day-to-day organisational efficiencies and costs is paramount. With an increasing number of organisations also offering services for companies to pursue power generation and energy use efficiency techniques, there’s also no excuse not to.
It has recently been reported that East Midlands based renters are happier with their landlord in contrast with any other location in England. The research, carried out by the NLA, highlighted that some 83% of renters in the area commented on their satisfaction with their present landlord, with those from the North West and South West coming in at a joint level of 82% satisfaction. The figures highlight some of the drastic differences in levels of satisfaction, with, in contrast to the North West, only 67% of those in the North East being satisfied with their landlord – this, in fact, heralding the lowest value of all those reported in the UK. This figure also falls short of the average level of satisfaction shown in the report, where approximately 79% commented on their satisfaction with their landlord. As for the rest of the results, 3rd Place in the report went to the South East, followed by the West Midlands, Yorkshire and Humber, London, Eastern England and the North East which came in at 80%, 79%, 73%, 72%, 71% and 67% respectively. Commenting on the report, Richard Lambert, Chief Executive Officer of the NLA nodded to the sheer quantity of good landlords which are represented in the market and that, while often portrayed to be quite “uncertain and unhappy”, the private rent sector is actually far better than most people think it is. Landlords, of course, are not on their own in supporting the tenants, however, as the NLA does indeed also offer a range of training systems so that they can provide the best possible environment for their tenants. Richard Lambert also highlighted the importance of other parties, such as governmental departments, stepping up their involvement in this support, encouraging both national and local governmental parties to also chip in for the betterment of the sector.
BESA has recently announced that it is now looking for nominations with regard to 2 of its management awards, set out to recognise the incredible work being done by many of the building engineering services sector’s present engineers, and future business leaders. The first award, dubbed the Alfred Manly Management Award, sets out to congratulate the success and accomplishments of younger engineers, highlighting and judging them on a basis of their potential for future role development and responsibility within the wider building engineering services sector. And for the process by which candidates are selected, the award looks to highlight management-specific skill areas which are in need of development so as best to provide the training and support required for their professional development; successful candidates then being awarded an associated certificate or diploma as well as already have confirmed employment in a management position on some level. The second award, the Professional Engineer of the Year Award, is then for individuals who have already achieved suitable qualification and are working on membership for a relevant chartered professional body’s scheme. Then combined with the first award, this allows BESA to reward individuals at various levels of the scale, with varying and highly differential personal goals and ambitions. The awards, which are widely recognised throughout the industry, will, upon the finalisation of the judging process, be given at the BESA Specialist Groups’ Annual General Meetings event, to be held on the 19th of May this year at City of London’s Trinity House, with the deadline for nominations sitting at Friday the 1st of April for both of the different awards. More information on the awards is naturally available from the BESA, including details on the nomination process, however, given the industry repute associated with the awards, nomination could prove to be the next step in major career development.
Following on from the unfortunately incident last Tuesday, it has been confirmed that emergency services are presently working hard on the recovery operations at the Didcot A Power Station, with the differing subsections of the emergency services each working together to maintain the safety of workers while trying to complete the operation now described as the “recovery of the bodies”. Recognising the difficulty and stress which is placed upon the families with loved ones still missing, Scott Chilton, Assistant Chief Constable of Thames Valley Police stated: “Our priority remains to return them to their families and we continue to support the families as needed.” And although hope may still yet be maintained as the rescue of those still missing, rescue teams commented it to be “highly unlikely” that those still missing will be found alive, in contrast to the positive outlook previously maintained. The first demolition worker to be named as deceased in the unfortunate situation was Michael Collings, age 52. The remaining three missing persons yet to be retrieved from the site have yet to be named. Partnering with the emergency services, the HSE is working alongside to establish the potential cause of the unfortunate accident. Although news is still being awaited on the recovery of those still missing, emergency services have thus far been praised for their reactive response to the incident and the hard work undertaken by the combined emergency services in the recovery of those affected. While the cause of the incident still remains unknown, the support offered in the aftermath, both from emergency services and from RWE, the client of demolition contractor, Coleman & Co has been notable, with a clear community forming around the incident to support the loved ones of those still tragically missing. For further updates on the progress being made at the site and the associated rescue operations, check back for the latest developments as and when they are reported.