Worcestershire County Council’s Planning & Regulatory Committee has granted planning permission for the new Worcestershire Parkway Regional Interchange Railway Station. Groundwork for the £22 million station, which will link the Cotswolds and Birmingham to Bristol lines, is scheduled to begin by the spring of next year and open in autumn 2017. Worcestershire Parkway Railway Station will be situated just outside of Worcester City, close to Junction 7 of the M5 near Norton. The project is identified as a key priority through the county’s Strategic Economic Plan, which is aiming to create 25,000 new jobs in Worcestershire by 2025 along with boosting GVA (Gross Value Added) by almost £3billion. It also has the backing of the Worcestershire Local Enterprise Partnership (LEP), the area’s MPs, Network Rail and Train Operating Companies First Great Western and Arriva CrossCountry, all local authorities, Herefordshire and Worcestershire Chamber of Commerce and local businesses. Feedback from a public engagement exercise last year showed further support for the scheme. 91 per cent of people surveyed stated that they supported the plans, which aim to improve the county’s accessibility by rail, cut journey times to key locations including London and reduce road congestion. The station is comprised of a single platform on the Worcester to London line and two platforms on the Birmingham to Bristol line, together with a new station building including a booking office, toilets and shop. It will also have 500 car parking spaces (including disabled provision), bus stops, a taxi rank and a passenger drop-off area. The station will be fully accessible to less mobile visitors and those with disabilities. Last year, the Worcestershire LEP provisionally allocated £7.5million from the Worcestershire Local Growth Deal towards a new station. The remainder of the funds (around £14million) is expected to come from the County Council. The Council’s contribution will be recouped through car park and station access charges levied on the Train Operating Companies. Cllr John Smith OBE, Worcestershire County Council Cabinet Member for Highways, said: “Today’s decision is great news for residents and businesses and means we can now start work on making the new Worcestershire Parkway Railway Station a reality. “The County Council recognises how important a reliable and robust transport infrastructure is to the local economy, which is why we are committed to continuing to invest in this key area through several major projects including Worcestershire Parkway. “As well as reducing journey times and congestion, the station will improve rail accessibility and connectivity with the rest of the country. In turn this will attract inward investment and create new jobs.” Gary Woodman, Executive Director of Worcestershire Local Enterprise Partnership, said: “We know the difference that improved rail connectivity will make to the County’s long term economy and therefore, we prioritised Worcestershire Parkway Railway Station for funding through our Growth Deal. “Today’s decision is great news for businesses. It was recently announced that Worcestershire was the third fastest growing economy in England between 2008 – 2013 and improving our transport networks is vital to ensure future growth. Stronger rail connectivity will complement many other infrastructure and transport improvements taking place in the coming years, provide businesses with better links to and from London and other cities and is yet another reason for companies to locate in the County. “We will now work to increase the awareness of the need for the redoubling of the Cotswold Line which alongside the new station would bring a number of benefits, for example faster journey times to London.”

Workers from nine sub-contracting companies will be staging a wave of industrial action in the escalating dispute at Sellafield in Cumbria to improve health and safety and productivity at the nuclear facility. Construction workers involved in the decommissioning and renewal project at the site are angry at the refusal by Sellafield Ltd and the 14-strong group of sub-contractor companies to facilitate a full-time union convenor on the site. Members of Unite, the country’s largest union, working for Balfour Beatty Engineering Construction Services; Cape Industrial Services; Focus Scaffolding; Hertel UK; Interservice Industrial Services; Jacobs Stobbarts; Meldrum Ltd; Mitie Facilities Services (also known as OneFM) and PPS Electrical  will be imposing an overtime ban and working to rule from Thursday 27 August. Workers at all the companies, except Balfour Beatty, will also be striking between 05:30 and 08:00 on 1, 9 and 16 September followed by a 24 hour stoppage starting at 00:01 on 23 September. Unite regional secretary for the north west Mick Whitley said: “The bully boy tactics by the sub-contractors are still continuing as our members raise legitimate concerns about health and safety. “The shop stewards have agreed a future programme of industrial action in response to the intransigence of the various employers. “Unite has repeatedly called for meaningful talks, but they have been rebuffed at every stage, and our members have no alternative but to take industrial action, including a day’s strike on 23 September. “The continuing attitude of the bosses underlines the draconian attitude of the contractors at Sellafield and means that industrial relations are now teetering on the edge of the abyss.” Ballots are also being held at four other sub-contractors: Amec Foster Wheeler; Doosan Babcock; Hargreaves; and PC Richardson & Co for industrial action on the health and safety issues. The ballots close on Wednesday 26 August.

Costain, the engineering solutions provider, announces that it has been awarded the £605 million contract for the East works package of the Thames Tideway Tunnel in London in Joint Venture (‘JV’) with VINCI Construction Grands Projets and Bachy Soletanche Ltd. The Thames Tideway Tunnel is a major new sewer, urgently needed to protect the tidal River Thames from pollution and to modernise London’s Victorian sewerage network for the 21st century, underpinning and enhancing economic prosperity. It is a large complex programme which addresses an urgent need to help ensure London is provided with a safe and environmentally sustainable water infrastructure. The joint venture, of which Costain has a 40% share, will commence work immediately and is expected to complete its programme of works in 2023. Andrew Wyllie CBE, Chief Executive of Costain, commented: “We are pleased to have been selected as a delivery partner for the Thames Tideway Tunnel. This award reflects Costain’s ability to provide the breadth of skills and capabilities necessary for these major schemes, and our ability to operate safely as part of a collaborative integrated team.”  

The Institution of Engineering and Technology (IET) has urged all electrical professionals to ensure that they are using genuine copies of its current IET Wiring Regulations. The call comes as the IET has been made aware of a number of counterfeit copies of its publications for sale through various channels. It warns that following misinformation in these fake copies could be devastating for electrical professionals and the general public at large – with missing or corrupted information potentially leading to unsafe work being carried out which could result in fire, electric shock or even death in the most extreme cases. To help combat the counterfeit activity, the IET has placed a hologram on the inside front covers of the following titles: BS 7671:2008+A3:2015; On-Site Guide to BS 7671:2008+A3:2015 and Guidance Note 3 (7th Edition). The new measures taken will make it more difficult to counterfeit IET publications and make it easier for individuals to identify genuine copies of the IET’s books. The hologram contains the IET logo in two sizes and the word “GENUINE”. There are also extra identifiers, some of which can be seen with a magnifying glass. As a registered charity, the IET has a responsibility to uphold standards and ensures that all proceeds from genuine books go back into the organisation – this meaning that it can continue to provide safe and reliable information for those professionals working in the electrical sector. Geoff Cronshaw, Chief Electrical Engineer at the IET said: “Ensuring that genuine copies of IET publications are being used by electrical professionals is imperative in order that correct standards are used to protect the public and those working in the industry from injury and fatality. The new measures that IET has put in place will help electrical professionals to identify genuine copies of new IET publications much more easily and stem the flow of counterfeit materials coming on to the publications market. “My advice to people looking to buy a copy of any IET publication would be to buy it directly from the IET if they are in any doubt about the supplier they are making a purchase from, or to consult the IET’s list of validated suppliers in the UK. What’s more electrical professionals can also take advantage of a subscription to IET’s new Electrical Standards Plus platform – providing the most up-to-date material currently published by IET.” For more information on the hologram, and what to do if you suspect you have a fake book, see www.theiet.org/fake-regs-pr. For a list of suppliers, created by the IET, from whom you can be sure you are purchasing genuine copies, seewww.theiet.org/genuine-pr.

A new report from the International Longevity Centre (ILC-UK) has found that residential housing with flexible care provision (extra care) can have a major impact in promoting residents’ quality of life and reducing feelings of loneliness and isolation. The report, funded by Audley Retirement and Bupa, surveyed residents of retirement villages on quality of life and used a statistical technique to compare the results with a group living in the community. This striking research revealed that village living can promote greaterindependence and provide greater choice in planning for later life than would otherwise be available. The research shows that the communal environment has the potential to reduce social isolation, particularly for residents who move from more rural or remote homes. The average person in a retirement village experiences half the amount of loneliness (12.17%) than those in the community (22.83%). Nearly two thirds of respondents living in retirement villages (64.2%) could be classified as not at all lonely, and over four out of five (81.7%) said they hardly ever or never felt isolated. Over half (54.7%) often felt in tune with those around them, and nearly four in five (79.1%) hardly ever or never felt left out. People living in this type of accommodation also reported a strong sense of control over their daily lives, nearly 10% higher than those living in the community. Control is a crucial component of quality of life measurement[i]. They also felt secure in their homes, with 97% of respondents agreeing that they felt safe where they lived. Both of these findings were assessed using recognised quality of life measures[ii]. The UK is faced with an ageing population which, the ILC-UK warns, is going to become increasingly difficult to support. It is projected that in 20 years’ time, the number of people aged 85 and over will be almost two and a half times larger than in 2010[iii]. As well as having an emotional impact, loneliness can also present physical health implications; research has shown that loneliness can accelerate cognitive decline in older adults[iv], and even present people with a 64% greater risk of dementia[v]. There are currently 800,000 people in England who are chronically lonely[vi] which, if left to increase in line with the population, could create a large burden on the NHS. The research calls on the government to: Identify ways of working with the private sector to stimulate the building of new good quality retirement housing. Encourage people in early older age to consider making such a move. In light of the new pensions freedoms, consider offering information and advice on such housing opportunities to people who make enquiries into how to manage their retirement finances. Baroness Sally Greengross, Chief Executive of ILC-UK commented: “This research helps confirm that good housing is good for us. Communal living commonly found in extra care and retirement villages seems to positive impact on loneliness, with very few respondents to our research saying they felt a high degree of loneliness or isolation. New and innovative models for providing social care are crucial to address rising costs for care in an aging society. But we simply aren’t building enough aspirational housing for old age. Government must ensure that planning supports the development and promotion of alternative models of housing with care.” Nick Sanderson, CEO of Audley Retirement Villages commented: “We have long known that retirement villages offering extra care have a positive impact on those living in them. No one wants to be in a care home, and very few should need to go down that route. The ILC report corroborates our belief that the quality of life in extra care accommodation far exceeds what is possible in a care home. “Extra care housing offers people the opportunity to live in a community of like-minded individuals, whilst remaining in their own home and retaining their independence. We were particularly pleased to see the ILC report reveal that residents feel a greater sense of control, and importantly a sense of community. Living in the right accommodation, with flexible care give our owners the opportunity to live their lives as they choose, on their own terms. “We are faced with a growing older population, and this generation are more ambitious and active than ever. It’s crucial that there is a better supply of good quality housing that meets their changing needs. Extra care is a seemingly simple concept, but government, business and society urgently needs to accelerate the provision of alternatives to current solutions; alternatives like extra care housing that can help give older people what they need and want, as well as help the NHS avoid a care crisis.” Paddy Brice, managing director, of Richmond Care Villages, which is part of Bupa, said: “The report reflects our knowledge that retirement villages are a great way for people to maintain their independence and enjoy an active social life, with the confidence that support is on hand if needed. “Our villagers frequently tell us they wish they’d made the move earlier. We are currently building two new villages as part of Bupa’s investment in new products and services for older people. Care villages are clearly meeting a big demand for this style of living as the apartments are being snapped up before we have even finished building them.”

Legal & General Property has acquired 43 Temple Row, Birmingham, from the Crown Estate for £14.5m.

Moody’s Investors Service says that the depreciation in the renminbi that has followed the shift in the mechanism for determining the daily fixing rate of the Chinese currency against the dollar is credit negative for Chinese property developers, given their significant exposure to foreign-currency debt, the majority of which is denominated in USD. “Nevertheless, all else being equal, we believe that the majority of our rated developers could withstand up to a 10% depreciation of the RMB relative to foreign currencies without it impacting their credit ratings,” says Simon Wong, a Moody’s Associate Managing Director. Wong was speaking on the release of a new Moody’s report on China’s property sector, entitled, Rated Developers Have Headroom to Withstand Modest RMB Depreciation. The report follows the People’s Bank of China announcement on 11 August that it would start basing the fixing rate of the renminbi against the dollar on the previous day’s market prices. “Furthermore, it is possible that other factors could counterbalance the impact of an RMB depreciation, including the potential for further declines in domestic interest rates and the ongoing opening up of the domestic bond market as a funding avenue,” says Wong. At end-2014, an average 35.5% of the debt structures of the 43 rated developers analysed in the new Moody’s report comprised foreign currency-denominated debt — including offshore bonds and bank loans — and this foreign-currency risk is largely unhedged. “Because of the mismatch between their foreign-currency debt obligations and RMB-denominated revenue and operating cash flow, their interest expenses and the principal amounts of foreign-currency debt will increase in tandem with a depreciating renminbi,” adds Wong. Moreover, the 14 rated developers with the largest percentages of foreign-currency debt relative to total reported debt would see their leverage, as measured by revenue-to-debt or debt-to-capitalization, weaken under a 10% depreciation scenario against the US dollar. This 10% depreciation sensitivity analysis is for testing the rated developers’ resilience to a higher-than-expected renminbi depreciation, which is not our core scenario or expectation. Moody’s believes that high investment grade developers — such as China Overseas Land & Investment Limited (COLI, Baa1 stable) and China Resources Land Limited (CR land, Baa1 stable), despite being amongst those with the highest exposure to foreign-currency debt — are less impacted due to their strong financial buffers and state-owned enterprise status or affiliation. In addition, Moody’s notes that the foreign-currency bonds of property developers coming due through 2016 are relatively small in amount, thereby limiting the near-term impact on liquidity due to currency depreciation. But, with the bonds maturing in the next 12 months, refinancing risk remains very high for Glorious Property Holdings Limited (Caa3 negative) and Renhe Commercial Holdings Company Limited (Caa1 negative). At the same time, such risk has already been factored into their low ratings. Furthermore, in Moody’s view, the foreign-currency exposures of rated Chinese developer have likely peaked and will decline over the next one to two years as developers increase usage of the onshore bond market. In this context, Moody’s notes that the opening up of the domestic bond market to property developers provides rated companies with an alternative source of long-term funding that is not exposed to foreign-exchange risk. Some RMB78.9 billion (US$12.3 billion) of domestic bonds have been issued so far in 2015. In contrast, offshore bond issuance over the same period declined by 54% to US$8.4 billion.

Industrial and logistics developer DB Symmetry will bring forward a 721,000 sq ft distribution park in the Midlands after acquiring a 48-acre site from Rossington Blyth.

Regeneration firm St Modwen has submitted an outline planning application for the £100m mixed-use regeneration of the railway works site at Wolverton, Milton Keynes.

Dolphin Living has confirmed plans to introduce a radical new rent policy at Hackney’s New Era Estate.