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
Could healthcare save our high streets? New think tank behind Dame Kate Barker’s Housing Commission launches at UKREiiF
Neighbourhood Health Hubs and a range of other public and private health services could prove to be the keys to high street and town centre regeneration, according to Radix Big Tent. The influential think tank behind the Kate Barker-led Housing Commission – which helped shape many of the DHCLG’s housing delivery policies – will launch a new project to bring community health on to the UK’s high streets, both to improve public health and act as a catalyst for regeneration. Sponsored by engineering, architecture, planning and environmental consulting group Sidara, independent national law firm Stevens & Bolton, and architects James Totty Partnership, the Health on the High Street Commission will launch on the 19th May to coincide with this year’s UKREiiF. The cross-sector Commission is setting out to identify practical steps to unblock the planning, financial and cultural obstacles to high street regeneration through health; not to produce another glossy vision document. The commission will be chaired by author, designer and place-strategist, Professor Ibrahim Ibrahim of Sidara’s Portland Design, with the independent commission comprising experts from investment, planning, place-making, national and local government, and public and private health care. Commissioners include crossbench peer, Lord (Andrew) Mawson, the driver behind the trail-blazing Bromley-by-Bow Health Partnership, and Michael Brown, the chief architect of the ground-breaking Barnsley Health Hub, which has seen outpatient services relocated to the town centre Alhambra shopping centre. The Commission plans to report within twelve months. In addition to conducting desk research and commissioning original research, the commissioners are eager to hear evidence from and learn from successful examples of delivering health on the high street across the country. Announcing the Commission’s launch, Radix Big Tent Chief Executive, Ben Rich, says: “There is widespread political agreement that putting health services at the heart of communities is a good idea. And yet, despite this consensus, progress is glacial. “Why? Because the system designed to deliver this is stuck in neutral. Speaking with senior leaders from the NHS and private health providers, local government, private investment and regeneration, what becomes clear is that there is not a lack of ambition, but a wall of institutional and systemic inertia that prevents change. The purpose of this commission is to identify and produce policies to remove the friction points that stall delivery.” Professor Ibrahim Ibrahim added: “The focus of the commission is less about the details of the healthcare provision and more about its halo effect, and how it can drive social and commercial value in our high streets and shopping centres.” Andrew Steele, Partner at Stevens & Bolton, said: “Healthcare is increasingly recognised as a powerful anchor for town centre regeneration and is a great opportunity to repurpose existing retail space as well as diversify our high streets with long-term, resilient assets. We’re proud to be supporting the Commission as it works to identify practical solutions that can support the long-term health of our high streets, turning policies into progress.”
Keon Homes announces start of £28m Wolverhampton scheme as it outlines ‘regeneration blueprint’ at UKREiiF”
One of the UK’s fastest growing affordable housing developers is heading to UKREiiF tomorrow with a blueprint for unlocking difficult regeneration sites. Keon Homes will be speaking at the biggest real estate investment infrastructure show in the country and is using the platform to announce the start of its latest scheme for City of Wolverhampton Council’s £1bn housing framework. The Burntwood-based company will begin construction on the £28m Heath Town site on the edge of the city, transforming the old Duke of York pub into 32 affordable one and two-bedroom council apartments. This marks the next phase in the wider £120m regeneration of the area that will eventually deliver up to 120 new homes across five different locations, all following on from the earlier success of Hobgate Road and Tithe Croft. Managing Director Richard Williams, who will be one of the main speakers at the Housing Delivery Showcase on Tuesday, said: “We are pleased to bring forward the Duke of York scheme, a development that shows the Keon model works…combining modern delivery methods, strong stakeholder collaboration and a focus on social value to unlock difficult regeneration sites. “It also underlines our capability to scale regeneration programmes across multiple sites under framework agreements, with this latest one following the start of ambitious projects at New Park Village and Lincoln Green in Bushbury.” He continued: “UKREiiF is the perfect place to highlight what we believe is a blueprint that could be replicated across other towns and cities facing similar housing and regeneration challenges. “Phased regeneration, mixed housing needs, accessibility, community-focused design and long-term partnership is working in Wolverhampton and supporting a local authority in accelerating housing delivery while creating lasting social impact.” The Duke of York project replaces a long-vacant building with affordable housing, acting as a real gateway site into Wolverhampton city centre. This will be reflected by enhanced landscaping, shared garden spaces and balconies to encourage placemaking and community interaction. All properties will be energy efficient and built to a high standard providing a place for individuals and families in the area to proudly call their home. Richard went on to add: “I’m really looking forward to speaking at UKREiiF, talking in partnership with Midland Heart on how we have played a fundamental role in bringing the iconic Port Loop development back to life and our eagerly awaited work on Tower Ballroom in Edgbaston. “The Housing Delivery Showcase will be one of the highlights of the West Midlands Pavilion and reflects the entire region’s commitment to working with the real estate sector to drive residential delivery.” In just seven years, Keon Homes has grown from a start-up operation into a genuine leader in affordable housing, transforming the way sustainable homes are delivered to thousands of people. The last twelve months has been its most active year yet, with 376 properties completed and a further 250 units in the process of being built across the Black Country, Birmingham, Coventry, Lichfield and Telford. For further information, please visit www.keonhomes.co.uk 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
ROCKWOOL’s full UK and Ireland range completes CCPI marketing integrity assessment
Leading insulation manufacturer ROCKWOOL has announced that its entire product range has passed Code for Construction Product Information (CCPI) assessment, making it the broadest set of construction products by a single manufacturer to be assessed to-date. The successful assessments cover ROCKWOOL’s complete range of non-combustible stone wool insulation products, including roofing, façade and fire protection solutions, as well as the company’s in-house fire-stopping range, known as FirePro. Introduced as a direct response to Dame Judith Hackitt’s Independent Review of Building Regulations, the code’s methodology has been designed to provide a holistic assessment of product information and marketing to provide reassurance throughout the construction supply chain, and ultimately to building residents and occupants. Nick Wilson, Managing Director of ROCKWOOL UK and Ireland, said: “We are immensely proud of this achievement. ROCKWOOL has long prided itself on its rigorous approach and high standards – securing assessment across our full range reflects our firm commitment to providing clear, accurate and trustworthy product information and the robust ways of working across our expert and dedicated team.” Against the backdrop of the Building Safety Act and live Government proposals to raise the bar for construction products and fire safety guidance, professionals including specifiers, architects and contractors need high-quality products supported by robust testing and information that they can trust. Undertaking a CCPI assessment includes in-depth evaluation of a company’s culture, processes and product information by an independent third-party verifier, and confirmation of each product’s assessment sits alongside clearly accessible product safety and performance data on ROCKWOOL’s website. Tim Vincent, ROCKWOOL’s Head of Technical, added: “As a leading supplier, ROCKWOOL is committed to supporting construction professionals to deliver building safety and performance, whether through our CCPI assessed product ranges, our technical tools and support, or our growing education offering including our new Training Academy, where we run hands-on best practice training.” Moving forward, any new ROCKWOOL product sets will be CCPI assessed as they are introduced to the market. Details of all ROCKWOOL’s products and their associated CCPI assessments can be found on the company’s website at www.rockwool.com/uk/products/. Building, Design & Construction Magazine | The Choice of Industry Professionals