Shawbrook Launches Dedicated PBSA Finance Proposition
Shawbrook has launched a dedicated Purpose-Built Student Accommodation (PBSA) proposition, responding to growing broker and investor demand for specialist finance in the sector. The bank has already completed a number of PBSA transactions and is now offering dedicated pricing and criteria for experienced landlords operating in the sector. The launch comes amid continued investor appetite for high-quality student accommodation, driven by local demand, changing student expectations and a need to modernise supply across a number of key UK university cities. The proposition includes loans from £500k to £35m, with rates starting from 5.99%, up to 75% LTV on interest-only facilities and terms of up to 25 years. Larger transactions above £2.5m will be supported by Shawbrook’s Structured Real Estate team, recognising the more specialist structuring requirements often associated with PBSA developments and investments. Daryl Norkett, Director of Real Estate Proposition at Shawbrook, said: “We’ve seen increasing demand from brokers and professional investors financing PBSA assets – particularly where borrowers need a lender that genuinely understands how these deals work. Every transaction in this sector is different, and the financing requirements are often more nuanced than in traditional property lending. A dedicated proposition means we can give brokers and their clients the certainty and expertise they need from the outset” Building, Design & Construction Magazine | The Choice of Industry Professionals
Whitbread Faces Break-Up Pressure as Major Investor Demands Sale
Hospitality giant Whitbread PLC is facing mounting pressure after activist investor Corvex Management LP called on the company to launch a formal sale process, claiming it is the “only credible path” to unlocking shareholder value. Corvex, which holds an economic interest in more than 11.8 million Whitbread shares – representing around 7% of the business – issued a strongly worded letter to Whitbread’s board and shareholders criticising the company’s long-term strategy and financial performance. The investment firm argued that Whitbread’s current five-year growth plan continues to pursue “value-destructive” policies, despite concerns previously raised with the board in December 2025. Corvex claims the company has failed to respond to worsening market conditions and shareholder frustrations. At the centre of the criticism is Whitbread’s proposed expansion strategy, which includes plans to add around 14,000 non-AGP hotel rooms across the UK and Germany over the next five years. Corvex also opposed the company’s increased sale-and-leaseback target of approximately £1.5bn, arguing that monetising valuable freehold assets to fund future growth carries significant risk. The investor highlighted Whitbread’s recent share price struggles, noting the stock is currently trading at a 13-year low of around £23 per share and at less than eight times pre-tax profit. According to Corvex, the valuation implies the market is assigning little or no value to parts of Whitbread’s wider business portfolio, including its German hotel operations and development pipeline. Corvex further stated that Whitbread has delivered double-digit negative returns across one, three, five and ten-year investment periods, blaming what it described as persistent structural complexity and poor capital allocation decisions. The firm is now urging Whitbread to appoint an independent investment bank and commit publicly to a comprehensive sale process. It also called for an immediate pause on non-AGP growth expenditure and future sale-and-leaseback deals while strategic options are explored. Corvex warned that if the board refuses to pursue a sale, it is prepared to nominate a new slate of directors in an attempt to force strategic change at the company. Building, Design & Construction Magazine | The Choice of Industry Professionals
120 Sunbelt Rentals teammates complete Cumbrian Challenge in support of veterans
120 teammates from Sunbelt Rentals UK and Ireland successfully completed the Cumbrian Challenge in the Lake District, held across Friday 15th – Saturday 16th May, raising £19,000 to date for Walking With The Wounded. As headline sponsor of the charity’s flagship fundraising event, the business joined organisations, businesses and individuals to take on the challenge in support of veterans and their families. Now in its 6th year of participation, Sunbelt Rentals continues to demonstrate its commitment to the armed forces community through this event. Colleagues from across the business took on one of three routes: Across all routes, teams navigated challenging terrain and conditions, demonstrating strong collaboration and determination throughout. The Cumbrian Challenge brings participants together each year for a team-based event in the Lake District, raising funds to support veterans as they transition back into civilian life. Funds raised contribute to employment support, mental health services and care coordination. Leanne Casey, Project Lead Cumbrian Challenge, said:“It’s been a privilege to lead such a committed and collaborative team at the Cumbrian Challenge. Working alongside Walking With The Wounded, colleagues have not only taken on a physical challenge but also made a meaningful contribution to a cause that truly matters – an achievement I’m incredibly proud of. A huge thank you to everyone involved for your dedication, teamwork and support in making this such a success.” Joel Oxberry, Chief Operating Officer, Walking With The Wounded, said:“The support shown by Sunbelt Rentals throughout this year’s Cumbrian Challenge has been nothing short of outstanding. Not only did they come on board as headline sponsors, but they also brought an incredible 30 teams to the event and helped raise nearly £20,000 in support of veterans and their families across the UK. Their energy, enthusiasm and commitment to the Armed Forces community was visible throughout the weekend, and we are hugely grateful for the partnership, generosity and team spirit they continue to show Walking With The Wounded.” Participants supported one another throughout, with a strong sense of camaraderie from start line to finish. Sunbelt Rentals is proud to support Walking With The Wounded and the work they do to help veterans and their families move forward, and looks forward to supporting the challenge again in the future. Building, Design & Construction Magazine | The Choice of Industry Professionals
Pagabo opens bidding for next-generation £26bn developer-led framework
NATIONAL procurement specialist Pagabo is inviting suppliers yesterday – 11 May – to bid for places on its next-generation National Framework for Developer-Led Schemes, which has a total anticipated value of up to £26bn. Compliant with the Procurement Act 2023 and Procurement Regulations 2024, the unique procurement offering will support public sector bodies with securing transformative development work through compliant procurement routes over a closed four-year period from 19th October 2026. Following the formation of a 10-year strategic delivery partnership that will see resources, reputation and expertise combined to establish a new benchmark for construction and development procurement, this is one instalment in a series of new frameworks being brought to market by Pagabo and YPO in 2026. YPO is the centralised procurement authority for the framework, while Pagabo is the framework manager responsible for design, delivery and ongoing management. Suppliers will be appointed to provide a range of developer-led scheme related services including consultancy, legal support and development types. Within each lot, SME inclusivity is embedded, and for the first time, development consultants and legal providers have been added to offer clients a turnkey procurement solution that provides ongoing support, full compliance, reduced risk, cost savings, greater collaboration and broader project outcomes. The framework will be available to all public sector bodies, from local authorities and education providers through to NHS trusts and housing associations. The framework is divided into seven lots. Lots 3 to 6 each include eight development types, and each lot, as well as those containing development types, is further divided into eight geographic areas. The geographical areas that the national framework covers includes the north, midlands, southwest, and southeast of England, London, Scotland, Wales and Northern Ireland. The lots include: Jonathan Parker, development director at Pagabo, said: “The Framework for Developer-Led Schemes has seen extensive use UK wide due to its substantial impact on client ambitions and built environment development. The existing framework supports clients with very prominent challenges in the market, such as compliance, viability and risk, with the new offering designed to do exactly the same and more – while conforming with updated procurement regulations set out within the Procurement Act. “We’ll continue to work closely alongside YPO, appointed suppliers and interested clients to offer effective procurement solutions and support throughout schemes. As well as wanting to see the framework continue contributing to major development and growth across the UK, the framework’s characteristics will ensure value for money, collaboration and impactful social value are prioritised in every procurement.” To date, the successful first iteration of the Developer-Led Framework has delivered projects with a total value of £7.8bn. Throughout the process of renewing the framework, priority has been given to premarket engagement and creating fair and transparent opportunities for suppliers, aligning with the principles at the centre of the Procurement Act 2023 which is now shaping new procurement activity. Jonathan continued: “As the Developer-Led offering has become more popular, we’ve been able to grow our dedicated team at Pagabo, welcoming experienced professionals with both sector specific and regional knowledge that benefits both suppliers and clients. This is an exciting time for Pagabo and YPO, and we both look forward to seeing this second iteration of the framework come to life.” Operating a digital-first, end to end delivery model, the national procurement specialist’s Pagabo+ system will be used as a central platform through which all framework activity will be managed. The single environment will play host to information on and management of new opportunities, call-off activity, performance monitoring and reporting, as well as compliance assurance. Supporting with enhancement of the full lifecycle of procurement and project delivery, appointed suppliers will also be able to use Pagabo Group’s social value and contract management platforms Loop and Sypro. To view the full tender document and submit a bid before the deadline at 12pm on 3 July, visit https://in-tendhost.co.uk/pagabo/aspx/ProjectManage/1279 For more information about Pagabo, visit https://www.pagabo.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
Winvic launches landmark net zero whitepaper at UKREiiF urging industry-wide regulatory alignment
Winvic Construction Ltd has officially launched a major new ESG whitepaper at UKREiiF 2026, calling for stronger regulatory alignment to support the delivery of net zero carbon aligned buildings across the UK built environment. Published in conjunction with the Westminster body, The Policy Liaison Group (PLG) on Environmental, Social and Governance (ESG), the whitepaper – From Commitment to Compliance: Why the UK Net Zero Carbon Buildings Standard Needs Regulatory Backing – argues that the industry is now ready to move beyond ambition towards measurable, verified operational performance, but requires policy and regulatory support to enable consistent adoption at scale. The paper explores the opportunities and challenges surrounding the UK Net Zero Carbon Buildings Standard (UKNZCBS), which launched earlier this year following extensive industry collaboration. Drawing on insights from a Westminster roundtable and interviews with representatives across development, investment, construction, planning, sustainability and policy makers the report sets out practical recommendations for government, industry and investors to accelerate delivery. Contributors and participants include the UK Green Building Council (UKGBC), Royal Institute of Chartered Surveyors (RICS), Building Research Establishment (BRE), Chartered Institute of Building (CIOB), Royal Town Planning Institute (RTPI), BWB Consulting, Firethorn Trust, Panattoni, Ridge and Partners, Royal London Asset Management, UMC Architects, Wordsworth Excavations, Lord Gary Porter CBE and Lancaster City Council. The whitepaper identifies regulatory alignment as the single greatest enabler of market-wide adoption, highlighting that the barriers to net zero delivery are no longer primarily technical. Key recommendations include embedding the UKNZCBS into national planning and regulatory frameworks, mandating operational performance verification, aligning financial mechanisms with verified carbon outcomes, and improving consistency across ESG and carbon reporting standards. The publication was formally launched during UKREiiF at the ‘Winvic and Partners Pavilion’, where industry leaders gathered to discuss the future of net zero policy, delivery and accountability across the built environment. The launch forms part of Winvic’s wider presence at UKREiiF during its milestone 25th year in business. Alongside the whitepaper launch, the contractor is hosting a programme of panel discussions and collaborative sessions focused on sustainability, planning reform, social value, industrial and logistics development, data centres and build-to-rent. Arun Thaneja, Technical Services and Sustainability Director at Winvic, said: “The publication of this whitepaper marks a defining moment for the built environment sector. With the launch of the UK Net Zero Carbon Buildings Standard, the industry now has a credible and consistent framework to measure real operational performance, but turning ambition into measurable impact at scale will require far greater alignment across policy, regulation and delivery. “Developed through collaboration with organisations from across the built environment, the whitepaper sets out both the significant opportunities ahead and the critical barriers that we must still overcome. The sector has shown it is ready to move beyond aspiration and into accountability and our hope is that these recommendations will help accelerate the next phase of practical, measurable and scalable net zero delivery across the UK.” For further information or to request a copy of the whitepaper, please visit the Winvic and Partners Pavilion at the Pavilion Avenue and Courtyard or contact sustainability@winvic.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals
Half of planned US data centres in states at high risk of destructive storms
More than half (51%) of planned US data centre projects worth $670bn are being built in states at high risk of severe convective storms (SCS), according to research by specialty Lloyd’s insurer MS Amlin. The analysis of more than 670 data centre projects under construction or planned across the US found 320 facilities located in states classified as being at high risk of tornadoes, large hail and damaging winds. Existing data centres in high-risk states for SCS are valued at almost $20bn, the study found, suggesting that future AI infrastructure in storm-exposed regions could be nearly 40 times the value of existing facilities. SCS has become a major driver of insured losses. Last year, SCS events generated $52bn in insured losses in the US – making it the costliest region and peril globally. Swiss Re reports insured losses from such storms have grown by roughly 8% a year since 2008. MS Amlin’s analysis found: The findings underline the scale of investment flowing into states at risk of natural catastrophes as development of new hyperscale facilities shifts to southern regions where land and power are more favourable. Martin Burke, MS Amlin’s Chief Underwriting Officer, said: “These numbers highlight both the opportunity and the risk. Hundreds of billions of dollars of new digital infrastructure are being directed towards regions at higher risk of potentially destructive severe convective storms. When assets of this scale cluster in hazard prone regions, the potential loss severity from a single storm event can rise very quickly. This is a growth opportunity for the specialty insurance market, but the risks must be properly managed and understood.” Data centres are typically insured through multiple business lines including property, cyber and credit and political risk. Without careful oversight, insurers can unknowingly accumulate exposure to the same facility across multiple policies. To address the risk, MS Amlin has developed a proprietary aggregation monitoring database to track data centre exposures across its underwriting portfolios. Burke added: “As AI investment accelerates, insurers must adopt more advanced ways to manage aggregation risk. If the industry is slow to address this challenge, it could restrict the deployment of capital and roll out of AI infrastructure. “Our proprietary database of hundreds of US data centre projects lets us capture the risk not just from tightly clustered facilities but also from supporting infrastructure like power generation. This provides a far more accurate picture of overall exposure. “This visibility allows us to deploy capacity responsibly to support the sector’s growth while maintaining underwriting discipline. The ability to monitor aggregation risk is becoming increasingly important as this class continues to grow.” Building, Design & Construction Magazine | The Choice of Industry Professionals