
LaSalle Adds £300m-Plus Commitment as UK Property Mandate Reaches £1bn
LaSalle Investment Management has secured an additional commitment of more than £300 million for a UK local authority investment mandate, taking the strategy to £1 billion and providing further capital for investment across the country’s property market. The expansion represents a significant vote of confidence in UK real estate at a time when institutional investors are increasingly focused on assets capable of delivering resilient, long-term income alongside strong environmental and social performance. The mandate is being led at LaSalle by Sophie Simmonds and Philip La Pierre, with the additional capital significantly increasing the scale of the investment programme. For the UK built environment, the commitment has the potential to support further investment across property sectors where long-term institutional capital can play an important role in development, regeneration and the improvement of existing assets. Residential property, including Build to Rent (BTR), remains one of the areas attracting significant institutional attention as investors look towards professionally managed housing and other living sectors as part of diversified real estate strategies. The increase in LaSalle’s mandate to £1 billion also comes against a backdrop of continued change across the UK property investment market. Investors are increasingly assessing buildings not simply on location and rental performance, but on energy efficiency, operational performance, sustainability and their ability to meet changing occupier requirements. This creates opportunities throughout the construction and property supply chain. Institutional investment into new and existing assets can support development, refurbishment, retrofit, building services upgrades and improvements to public realm, while also creating longer-term requirements for asset and facilities management. LaSalle is one of the world’s major real estate investment managers, operating across a broad range of property sectors and investment strategies. The latest commitment provides the business with substantially greater capacity to pursue UK opportunities on behalf of its local authority mandate. With more than £300 million of additional capital now committed and the mandate reaching the £1 billion mark, the move demonstrates the continuing importance of large institutional investors to the future of the UK property market. For developers and the wider construction sector, the deployment of that capital will now be closely watched, particularly as investment opportunities emerge across residential and BTR, regeneration and other areas of the built environment. Building, Design & Construction Magazine | The Choice of Industry Professionals

Norton Rose Fulbright strengthens real estate practice with appointment of new partner
Global law firm Norton Rose Fulbright has strengthened its real estate practice in London with the appointment of Simon Woodcock as a partner. Simon joins from Goodwin Procter. He advises on a broad range of transactional real estate matters, including direct and indirect investment, landlord and tenant matters, development and asset management. His practice spans multiple asset classes, including office, retail, student accommodation, PRS and industrial. Simon has significant experience advising investors, developers, asset and fund managers, and financial institutions on high-value UK and pan-European transactions. He brings strong relationships across the real estate sector and a track record of delivering on complex mandates. His appointment further enhances Norton Rose Fulbright’s real estate offering and supports the firm’s continued growth across key sectors and markets. David Hawkins, partner at Norton Rose Fulbright, commented: “Simon is a highly regarded real estate lawyer with an impressive track record advising on major UK and European transactions. His experience, market reputation and client relationships make him an excellent addition to our team.” Simon Woodcock commented: “Norton Rose Fulbright’s international platform and sector strengths provide a compelling proposition for clients operating in today’s market. I’m excited to join the team and look forward to helping clients deliver their most important real estate projects and investments.” Simon’s appointment forms part of Norton Rose Fulbright’s continued investment in its real estate practice and reinforces the firm’s ability to support leading investors, developers and institutions on complex transactions. Building, Design & Construction Magazine | The Choice of Industry Professionals

Why Heat Pump Grant Schemes Are Quietly Raising the Compliance Bar
Australia’s Clean Energy Regulator recorded 159,848 hot water heat pump installations in 2023, nearly double the 80,895 installed the year before. In Victoria alone, more than 200,000 systems have gone in through the state’s rebate scheme, a 500% jump in demand according to Solar Victoria. Numbers like that look like a clean energy success story. They’re also exactly the conditions under which electrical safety in heat pump installation tends to slip down the priority list. When subsidy speed outpaces scrutiny Grant schemes are designed to move fast. That’s the point of them. But speed and installation rigour don’t always travel together, and Australia’s current heat pump boom is a useful case study in what happens when they part ways. Reclaim Energy’s managing director, Chris Taylor, has described a wave of “rebate chasers” entering the market: operators with no background in heating or hot water, drawn in purely by subsidy volume. He estimates roughly 90% of units now sold in Australia are effectively faux heat pumps, models built around an electric backup element that quietly does most of the work while still qualifying for a rebate meant for genuine heat pump efficiency. The regulatory response has already started. Solar Victoria now audits a share of installations under its rebate scheme, and its own findings include non-compliant or faulty switchboard wiring, unsafe termination points on pressure relief valves, and inadequate insulation against freezing. NSW’s pricing regulator has separately documented compliance certificates signed by someone other than the installer, alongside units that were simply the wrong size for the site. None of this is really a heat pump problem. It’s an installation problem that heat pumps happen to be exposing at scale. And it’s not confined to Australia. The UK’s own heat pump grant schemes have moved through a similar arc: a slow start, a push to scale up installer numbers quickly to hit targets, and the same underlying tension between speed and scrutiny that shows up wherever subsidy volume and installer capacity grow at different rates. The Australian data is simply further along and better documented, which makes it a useful early-warning read for anywhere else running a comparable scheme. The unit gets the scrutiny; the circuit doesn’t Here’s where it gets relevant for anyone specifying or overseeing residential retrofits. A typical residential heat pump and air conditioning system draws meaningfully more current than the appliance it’s replacing, particularly where a whole-home or ducted system goes into a property with an older switchboard. The equipment itself is the part everyone checks: efficiency rating, output, brand, whether it’s on the approved product list for the scheme in question. The electrical side of the install is a different story. As the Victorian Building Authority’s chief noted when discussing the sector’s rapid growth, heat pump installations aren’t a like-for-like swap. Many need a new circuit, and often a new switchboard, which means an electrician’s sign-off alongside the installer’s. That’s a second trade involved, which means a second place for a rushed job to skip a step. It’s a gap that doesn’t show up in the headline numbers. Installed capacity looks fine. Rebate uptake looks fine. Whether the circuit feeding that unit was actually assessed and tested for the new load is a separate question, and it’s the one that tends to get asked only after something’s gone wrong. Electrical safety in heat pump installation isn’t optional This is the part of the install that should be treated as a hard requirement rather than best practice: confirming the circuit can safely carry the new load, and that a proper RCD test has been carried out and recorded once it does. An RCD (residual current device) is the component that cuts power if current starts leaking somewhere it shouldn’t, and it’s the difference between a fault tripping safely and a fault becoming a hazard. This isn’t a theoretical risk attached to a niche technology. RACE for 2030’s research into home retrofits at scale found that upgrades combining insulation, efficient appliances and heat pumps could cut a typical Australian home’s energy bill by up to $1,600 a year and reduce annual emissions by close to six tonnes per property. That’s a genuine change in how a home draws and uses power, not a cosmetic swap, and the report’s authors were explicit that scaling this kind of retrofit needs independent technical guidance and proper industry accreditation alongside the appliance rollout itself. Put simply: if the retrofit is significant enough to reshape a household’s energy use, it’s significant enough to warrant checking the wiring that carries it. What developers and specifiers should actually be asking for None of this requires reinventing the installation process. It requires treating three things as non-negotiable line items rather than assumptions: None of these add meaningful cost or time to a well-run installation. They add cost only to the ones that were cutting corners already, which is rather the point. Australia’s own policy direction backs this up. The government’s updated Trajectory for Low Energy Buildings, released in 2025, extended its “fabric first” approach from new builds into the existing housing stock, explicitly linking building performance targets to how those upgrades get delivered on the ground, not just what gets installed. Compliance isn’t a side issue to that trajectory. It’s the mechanism that determines whether the upgrades actually deliver what the modelling promises. The fix here isn’t a heavier inspection regime bolted on after installation. It’s making the electrical check part of the specification from day one, the same way load capacity and unit output already are.

Watkin Jones Strengthens UK BTR Portfolio with Two Major Scheme Completions
Watkin Jones has completed two major Build to Rent (BTR) developments during its 2026 financial year, marking further progress for the residential developer as it continues to deliver large-scale schemes despite challenging market conditions. The completions represent another important milestone for Watkin Jones, which has established a significant presence across the UK’s purpose-built rental and student accommodation sectors. Among the developer’s major BTR projects is Loftlines, a significant residential development that forms part of the wider regeneration of Belfast’s Titanic Quarter. The project demonstrates the scale and ambition of the purpose-built rental schemes now being delivered in major UK cities, combining new homes with the amenity-led approach increasingly associated with modern BTR development. Watkin Jones has also progressed its Tai Afon BTR development in Cardiff, adding further purpose-built rental accommodation to its portfolio and strengthening the company’s presence within the residential market. The latest completions arrive against a demanding backdrop for the UK development sector. Higher construction costs, financing pressures and changing investment conditions have all influenced the pace at which new residential projects can be funded and brought forward. Despite these challenges, BTR continues to represent an important area of activity within the UK housing market, supported by demand for professionally managed rental accommodation and continued institutional interest in residential property. For the wider construction and built environment industry, the delivery of major BTR developments also creates opportunities across a substantial supply chain. Large schemes require expertise spanning main contracting and structural construction through to façades, M&E services, fit-out, landscaping and public realm, before moving into long-term property and facilities management following completion. Watkin Jones’ latest progress therefore provides another indication of the continued evolution of the UK BTR sector, particularly in regional cities where large residential developments are increasingly becoming an important component of wider regeneration strategies. With two major BTR schemes reaching completion during FY26, Watkin Jones continues to demonstrate its ability to take substantial residential developments through construction and into operation while navigating a more challenging development and investment environment. Building, Design & Construction Magazine | The Choice of Industry Professionals

One Golden Lane launches to market, delivering 120,000 sq ft of premium office space
London based real estate investment firm Castleforge has launched One Golden Lane to market, its 120,000+ square feet of Grade A office redevelopment in the City of London. The milestone was marked with an event at One Golden Lane on 9 September 2026. Situated between the iconic Barbican Centre and Golden Lane estates, and four minutes from the Elizabeth Line at Farringdon, the building is now complete and available to occupiers. The completion comes at a demanding time for the City’s office market. With Grade A vacancy in prime City locations down to just 1.9%, occupiers are competing for a limited pool of best-in-class, well located spaces.[1] One Golden Lane responds to that demand with over 120,000 square feet of flexible, sustainable, modern office space across 12 storeys. The space includes 7,000 square feet of terraces and roof gardens designed by Chelsea Flower Show Gold Medallist Andy Sturgeon, a statement double-height lobby and café, and 3,900 square feet of wellness and community space designed to support modern working patterns. Originally designed by Tate Britain architect Sidney Smith, the Grade II listed development retains its heritage features including the 1896 façade, with its upper storeys offering commanding views across the Barbican. Sustainability was designed into the scheme at the highest level. One Golden Lane retains 95% of the existing building and is the first London scheme to reuse over 5 tonnes of reclaimed steel from the same site. The development is targeting BREEAM ‘Outstanding’ certification, with integrated urban greening throughout and 100% renewable energy powering operations. Beyond a workplace, One Golden Lane also delivers lasting social value. The building’s retained heritage space, once home to the renowned Cripplegate Institute, now houses the Proud Places Hub, a permanent creative and heritage skills space for young Londoners delivered in partnership with Heritage of London Trust. Michael Kovacs, Founding Partner of Castleforge, said: “One Golden Lane brings 120,000 square feet of best-in-class office space to a part of the City where demand for it far outstrips what is available. Sitting a stone’s throw from the Elizabeth line, it’s one of the best-connected buildings on the market right now. “Occupiers are competing hard for well located, sustainable buildings that meet their people’s expectations. Very little of this calibre is coming through, especially in a building that keeps the character of its heritage while working for the way people want to work today.” Matthew Reid, Head of Development and Asset Management at Castleforge, said: “Delivering a building of this quality within a Grade II listed structure has been a considerable undertaking. “The team has created a genuinely modern workplace without losing the character of the 1896 building, from the restored façade through to the terraces and roof gardens.” With City development starts falling sharply and only a handful of large Grade A options available in core locations, the supply of best-in-class space is set to tighten further. Just 21 Grade A options are available now or within the next six months for occupiers seeking 100,000 sq ft or more, against 41 active requirements of that size, and only five sit in core submarkets.[2] One Golden Lane forms part of Castleforge’s wider London pipeline, which alongside 75 London Wall, Mark Lane and Vintners Place represent more than 1m sq ft of prime office space within the City, one of the largest single-developer contributions to the City’s prime office supply. The development has been delivered by Castleforge’s in-house investment, development management team, with construction by Midgard and financing from Cheyne Capital and Apollo. [1] Savills, 6 August 2026: Central London Office Market Watch [2] Savills, 6 August 2026: Central London Office Market Q2 2026 Building, Design & Construction Magazine | The Choice of Industry Professionals

Prologis completes major life sciences development at Cambridge Biomedical Campus
Prologis has completed 2000 Discovery Drive, a major new speculative life sciences development at Cambridge Biomedical Campus and the latest stage of long-term investment in the campus. Delivered as part of Phase 2 of Prologis’ expansion at Cambridge Biomedical Campus, 2000 Discovery Drive provides 112,000 sq ft of laboratory and office space across six floors of specialist life sciences facilities. This first completed building will form GSK’s new 300,00 sq ft R&D centre at Cambridge Biomedical Campus, focused on the company’s research in Oncology, Respiratory, Hepatology, Vaccines and HIV. Phase 2 represents an investment of $635m (£500m) by Prologis. The completion of 2000 Discovery Drive delivers of Prologis’ commitment to bring forward new infrastructure to support the continued growth of the campus. A semi-sunken CycleParc with a landscaped courtyard provides secure parking for 450 bicycles beneath biodiverse meadow space, forming part of the wider delivery of Phase 2 expansion. 2000 Discovery Drive was delivered with Prologis’ project and delivery partners. SDC acted as main contractor, with Scott Brownrigg as architect, Buro Four as project manager, AECOM as cost consultant, Bidwells as planning consultant, Hoare Lea as MEP and sustainability consultant, and Ramboll as structural engineer. Paul Weston, Regional Head of Prologis UK: “When we committed to the next phase of Discovery Drive, we said we would invest in and deliver the specialist infrastructure needed to support the continued growth of Cambridge Biomedical Campus. The completion of 2000 Discovery Drive is that commitment becoming reality. “We took the decision to develop ahead of demand, and the fact that 2000 Discovery Drive will now form part of GSK’s new R&D centre shows why taking that long-term view mattered. This has been a significant project to deliver, and I want to recognise the partners and teams who have helped make it happen.” Mayor of Cambridgeshire and Peterborough, Paul Bristow, said: “The progress made at 2000 Discovery Drive over the last 18 months is exceptional. And now it’s expanding with both 3000 and 4000 Discovery Drive. “Prologis continue to bring together research, patient care, academia and industry to support the discovery and development of new medicines. And as they welcome GSK to this nearly completed building, they will be further supporting our Local Growth Plan.” Building, Design & Construction Magazine | The Choice of Industry Professionals
