M&S Accelerates Store Investment as Retail Giant Opens 15 New Locations
Marks & Spencer has continued its nationwide investment programme with the opening of 15 new stores over the past year as the retailer pushes ahead with plans to modernise its estate and strengthen long-term growth. In its preliminary results for the year ending 28 March 2026, M&S confirmed it had opened 12 new food stores alongside three new full-line locations as part of its wider store rotation and expansion strategy. The retailer said it is entering the 2026/27 financial year with a renewed focus on three core investment areas — supply chain modernisation, technology transformation and upgrading its store portfolio — with a strong pipeline of larger, high-volume stores now planned. The expansion reflects M&S’s ongoing strategy to reposition its estate around modern retail formats, stronger food-led locations and more efficient, digitally enabled operations designed to improve customer experience and long-term trading performance. Despite challenging market conditions, the business said it remains committed to investing in both quality and value while accelerating the pace of transformation across the company. M&S reported an adjusted pre-tax profit of £671.4m for the year, representing a year-on-year decline of 23.8%. Chief executive Stuart Machin said retailers continue to face a “triple whammy” of pressures, including increased taxation, greater regulation and ongoing global instability. However, he stressed that M&S remains focused on long-term investment and operational improvement rather than short-term challenges. Machin said the company’s priority is to “protect the magic of M&S while modernising the rest”, highlighting the momentum now building across the business. The retailer’s investment programme comes amid wider change across the UK retail property market, where major occupiers are increasingly prioritising modern, high-performing locations capable of supporting omnichannel retailing, operational efficiency and evolving customer expectations. M&S has continued to invest heavily in store upgrades, food hall expansion, digital infrastructure and logistics improvements as part of its long-term growth strategy. The company’s latest openings also reflect continued confidence in physical retail, particularly in high-footfall locations and convenience-led food formats, despite ongoing pressures across the wider retail sector. Building, Design & Construction Magazine | The Choice of Industry Professionals
Glencar Appointed to Deliver Link, Aylesbury
A five-unit Grade A industrial and logistics development totalling 192,000 sq ft, designed to deliver high-specification sustainable industrial space in Buckinghamshire. Glencar has been appointed by Newlands to deliver Link, Aylesbury in Buckinghamshire. The development will comprise five Grade A speculative industrial units totalling approximately 192,000 sq ft and is designed to meet growing demand for high-quality industrial and logistics accommodation in the region. Located at Gatehouse Close, Aylesbury, the scheme will provide flexible industrial and warehouse space built to a high sustainability specification. The development is targeting BREEAM Excellent and EPC A ratings, reflecting a strong focus on environmental performance, energy efficiency, and long-term operational sustainability. The project will include associated infrastructure and external works, including service yards, car parking, landscaping, ground improvement works, and extensive Section 278 highway upgrades. The units have been designed to accommodate a range of industrial and logistics occupiers, offering modern specification warehouse and employment space in a strategically located South East logistics market. Roy Jones, Managing Director – South at Glencar, said: “We’re delighted to have been appointed by Newlands to deliver Link, Aylesbury. This is a high-quality industrial development that aligns strongly with our expertise in delivering sustainable, best-in-class logistics and industrial schemes across the South of England. “The project’s strong sustainability credentials, including its BREEAM Excellent target and EPC A rating, demonstrate the shared ambition of the wider team to deliver future-focused industrial space that meets the evolving needs of occupiers. We look forward to commencing works and working collaboratively with Newlands and the professional team to bring the development forward successfully.” James Miller, Head of Construction at Newlands Developments, said: “We’re delighted to be working with Glencar again and look forward to delivering this project together as part of our upcoming portfolio of mid box schemes.” The project team includes Rame Consulting as PM / EA / QS, AJA Architects, and Burrows Graham as engineer. Construction is scheduled to commence in May 2026, with completion targeted for May 2027. Building, Design & Construction Magazine | The Choice of Industry Professionals
Bristol rents fall as new rental laws come into force
Average rents in Bristol have fallen by 3.8% and rental properties are taking longer to let, according to a new report released as the Renters’ Rights Act comes into force. But rental platform Rentaroof has warned the slowdown may only be temporary rather than a sign of lasting affordability, with similar reforms in the Netherlands leading to a major reduction in available rental homes after landlords exited the market. Rentaroof says the Q1 2026 figures provide an important baseline for measuring the long-term impact of the Renters’ Rights Act on Bristol’s rental market over the next 12 months, in terms of rental supply, pricing and landlord behaviour. Key findings from the report include: The average monthly rent in Bristol now stands at £1,464, down from £1,522 during the same period in 2025. Apartment and flat rents, which make up Bristol’s largest rental category, recorded the biggest shift, falling by 3.6% (£57) year-on-year to an average of £1,514. In contrast, rents for houses and rooms both increased slightly by 0.6%, with the average house now costing £2,009 per month and rooms averaging £657. Five districts’ prices were analysed in the report and all recorded overall price reductions, with Bristol City Centre experiencing the sharpest fall at 10.9%. Rentaroof says the area’s high concentration of flats appears to have amplified the slowdown within the apartment market. Despite this, the City Centre still commands some of Bristol’s highest rents, reflecting the continued premium attached to central living. As the previous year, Horfield tracked as the most expensive district, with average rents of £1,802. It also recorded the smallest decline at just 1.6%, suggesting demand has remained resilient at the upper end of the market. Fishponds – the third most expensive district – saw rents fall by 8.7%, bringing average monthly costs to £1,437. At the more affordable end of the market, Bedminster recorded an 8.5% drop to £1,171 per month, while Easton saw rents fall 5.2% to an average of £1,103. The average time rental properties remain on the market in Bristol has also increased over the past year, rising from 25 days to 31 days. Redcliffe and Montpelier are currently the city’s fastest-moving areas, with homes letting in around 18 to 19 days on average, while Bristol City Centre has become one of the slowest markets at 43 days. Time-to-let analysis also included Southville (23 days) and Northville (41 days). Despite the slowdown, properties across Bristol are still typically letting within around six weeks, suggesting overall tenant demand remains active. Commenting on the findings, Jasper de Groot, CEO of Rentaroof UK, said: “Britain is heading in the same direction as the Netherlands when it comes to rental reform, and the warning signs are already there. “In the Netherlands, similar changes led to a sharp reduction in rental supply as landlords and investors exited the market. Around 12.5% of the total private rental stock, equating to more than 80,000 homes, were eventually sold off and removed from the sector. “In Bristol, we’re already seeing rents soften and properties taking longer to let, particularly in flat-heavy areas such as the City Centre. “We also expect landlord behaviour to change significantly under the Renters’ Rights Act. In high-demand areas such as Redcliffe and Montpelier, landlords are likely to increase advertised rents upfront because they will no longer be able to rely on above-asking bidding to achieve higher final rents. “The bigger concern is supply. International evidence suggests rental stock is likely to decline over time if landlords continue exiting the market. “The latest English Private Landlord Survey already shows 31% of landlords are planning to reduce their portfolios, suggesting supply pressures could intensify over the coming years. “If supply continues to tighten, today’s softer conditions could eventually reverse and place upward pressure on rents again.” Rent changes impact around a quarter of Bristol’s households, and student-friendly listings now account for 36.6% of Bristol’s rental supply, above the UK average of 31.1%, reflecting the city’s large student population and concentration of shared accommodation. Rentaroof says this also impacts Bristol’s overall rental averages, as a significant proportion of the market is made up of lower-cost room and shared-property stock. Rentaroof is a UK rental search and alert platform designed to help renters find and secure properties in competitive markets. Building, Design & Construction Magazine | The Choice of Industry Professionals
Rhatigan Secures £32m Role in Landmark East London Housing Regeneration
JJ Rhatigan has been appointed to deliver the first phase of a major new housing development at the former London Chest Hospital site in Bethnal Green, marking a significant milestone in the long-awaited regeneration of the historic East London location. The contractor secured the £32m design and build contract following a competitive four-way tender process involving Lovell, Graham and Formation Design & Build. The project is being delivered for Bonner Road LLP, linked to Clarion Housing Group’s development arm, Latimer, and forms the opening phase of a wider masterplan that will transform the former hospital site into a new mixed-tenure residential neighbourhood. The initial phase will provide 76 affordable homes across two residential blocks, alongside associated landscaping and public realm works. The homes are expected to focus heavily on social rent provision, forming a key part of the development’s affordable housing strategy. Overall, the wider scheme will deliver 274 homes, with 50% affordable housing measured by habitable room. Construction is expected to commence from June, with works scheduled to continue through to February 2031. Designed by architects AHMM, the masterplan combines new-build housing with the restoration of several important heritage assets on the site, including the Grade II-listed main hospital building, Sanitary Tower and South Wing. All three buildings are currently included on Historic England’s Heritage at Risk Register. Alongside the refurbishment of the historic structures, the wider regeneration plans include five new residential buildings ranging from five to nine storeys, as well as new community space and extensive landscaping. A key part of the proposals is the opening of the former hospital grounds to the public for the first time in almost a decade. Plans include more than 1,100 sq m of open space, a new public square off St James’ Avenue and the restoration of the site’s historic formal lawn. The development will also protect one of the East End’s most notable natural landmarks — a veteran Mulberry tree believed to be among the oldest in the area — which will remain preserved in its original location. The project represents another major step in East London’s ongoing regeneration pipeline, combining affordable housing delivery with heritage restoration and enhanced public realm investment. Building, Design & Construction Magazine | The Choice of Industry Professionals
Water Eaton development to bring £24.6m investment and up to 400 affordable homes to Oxfordshire
More than £24.6 million will be invested in local infrastructure as part of the planning agreement for a community of up to 800 new homes which is set to be built in Water Eaton. Bellway and Christ Church Oxford have worked together on the plans to create a sustainable community on land to the east of Oxford Road. The development will provide up to 400 affordable homes and serve as a new gateway to the city of Oxford. Cherwell District Council’s planning committee first gave its backing to the outline plans in June 2024. The formal planning agreement has now been issued, detailing the wider commitments Bellway and Christ Church have made. Financial contributions include £7.74 million for primary education, £5.86 million for secondary education, more than £6.5 million towards roads and transport and more than £2.2 million for sports facilities. The development will enhance biodiversity on the land by more than 20 per cent and has been awarded a Building with Nature design accreditation. Paul Smits, Managing Director for Bellway Northern Home Counties, said: “This new community in Water Eaton has been designed to bring benefits to local residents and to the environment. “This requires more than simply building homes. Our plans demonstrate how the foundations will be laid for a new neighbourhood featuring vast areas of parkland, orchards and play areas, a community area and school, as well as new housing, all connected by walkways and cycle paths to encourage green modes of travel. “Wildlife habitats will be created and enhanced, while historic features such as the underground remains of historic barrows will be protected. “The provision of up to 400 energy-efficient affordable homes, as well as the significant financial support for local services, will deliver tangible benefits to people living in this part of Oxfordshire.” Wilf Stephenson, Chief Information Officer for Christ Church, said: “Four hundred affordable homes in Oxford is a significant number, and one that reflects Christ Church’s genuine commitment to the communities around its landholdings. “Sustainability has been central to the design of this development from the outset: our Responsible Ownership Policy for Property sets rigorous standards across ecology, energy, carbon and wellbeing, and those standards have shaped every decision taken at Water Eaton. “We look forward to seeing a community built here that benefits both the people who live in it and the environment around it.” The development will provide land for a new primary school and funding towards land for a secondary school. Financial contributions will also support household recycling, road and transport improvements, and a community development worker. The outline planning consent gives formal approval to the masterplan and core areas of the development. Detailed plans for each area will be prepared by Bellway and submitted to Cherwell District Council for approval before work begins. The first detailed planning application for infrastructure is due to be submitted in the coming weeks, with a residential application to follow soon afterwards. Bellway hopes to start work later this year. Building, Design & Construction Magazine | The Choice of Industry Professionals
Broad Marsh Revival Moves Forward as Homes England Seeks Developer Partner
Homes England has launched the search for a development partner to help restart the long-awaited transformation of Nottingham’s former Broad Marsh shopping centre. The government housing agency began preliminary market engagement at UKREiiF as it looks to bring forward a major mixed-use regeneration scheme on one of Nottingham’s most prominent city centre sites. The former shopping centre has remained partly demolished since the collapse of retail group intu in 2020, leaving the site in limbo and creating a major gap in the city’s urban fabric. Homes England stepped in last year to acquire the site from Nottingham City Council, including land west of the Green Heart, a multi-storey car park, Severns House and a former college site. The wider Broad Marsh vision is expected to deliver around 1,000 new homes, alongside up to 20,000 sq m of retail, office and community space. The project is also set to include Grade A offices, leisure uses, improved public realm and new green spaces. The latest market engagement is aimed at identifying an experienced master development partner capable of helping to accelerate delivery and unlock the site’s potential as a new city quarter. Demolition works, expected to cost around £30m, are already well underway. The scheme is being brought forward through a collaboration between Homes England, Nottingham City Council and the East Midlands Combined County Authority. The partners hope work on the main redevelopment can begin in 2028. Plans for Broad Marsh focus on reconnecting key city centre destinations and improving routes for pedestrians, cyclists and public transport users. New public spaces will be shaped around Nottingham’s “green heart”, helping to create a more open, accessible and sustainable part of the city centre. Homes England Executive Regional Director for the Midlands, Jo Nugent, said: “Broad Marsh presents a transformative opportunity for Nottingham. “Our partnership with Nottingham City Council, and now the East Midlands Combined Authority, formalised through our Collaboration Agreement, reflects a unified commitment from the public sector to bring this project to market successfully. “We are now focused on securing an experienced Master Development Partner who shares our vision and will work collaboratively with us to deliver a vibrant, mixed-use city quarter that Nottingham can be proud of for generations to come.” If delivered as planned, the Broad Marsh redevelopment will mark a major step forward for Nottingham’s regeneration ambitions, turning a stalled retail site into a new destination for homes, jobs, leisure and community life. Development timeline Building, Design & Construction Magazine | The Choice of Industry Professionals