HTB provides £13.5m facility to support repositioning of Leeds residential and PBSA scheme
Hampshire Trust Bank (HTB) has provided a £13.5 million facility to support the repositioning of the Kirkstall Brewery campus in Leeds, refinancing existing debt and partially repaying a previous lender. The 18-month facility is secured against a 664-bed former student village in Kirkstall. This comprises a 442-bed parcel with full planning consent for conversion into 151 Class C3 apartments, alongside 202 retained Purpose Built Student Accommodation (PBSA) beds, creating a scheme with multiple potential end uses across Private Rented Sector (PRS) and student accommodation. The structure provides time for asset management and stabilisation, enabling the repositioning of the scheme while maintaining flexibility across a range of exit routes. These include disposal or refinance of the PRS element, sale or long-term leasing of the PBSA accommodation, or a whole-site disposal. No development is planned during the loan term, with refurbishment of the PBSA element funded by borrower equity. The transaction builds on progress already achieved at the site, including the disposal of an eastern parcel to an institutional investor and a long-term lease agreed with Leeds City Council across part of the retained accommodation. The lease is expected to deliver approximately £2.5 million per annum of savings to the council over its term. Full planning consent was granted by Leeds City Council in November 2025 for the conversion of the PRS parcel, providing a clear basis for the next phase of the scheme. Introduced by Johnny Grassick, Associate Director at GLPG, the deal was led by Alexia Evans, Lending Director at Hampshire Trust Bank, supported by Olivia Emmett. Alexia Evans, Lending Director at Hampshire Trust Bank, said: “This was a scheme where the key consideration was how the asset would be managed over time, not just its position today. “With planning in place and clear progress already made, the focus was on structuring a facility that allows that to continue without forcing an early decision, while remaining aligned to how the site will be worked through in practice.” Johnny Grassick, Associate Director at GLPG, said: “There wasn’t a single, defined exit here, but that reflects the strength of the site. “With planning in place, a number of viable routes forward and progress already achieved on parts of the scheme, including the lease to Leeds City Council, the key was putting a structure in place that didn’t restrict those options too early. “This gives the borrower the flexibility to build on that momentum and take the right route as the scheme evolves.” Neil Leitch, Managing Director, Development Finance at Hampshire Trust Bank, said: “This type of transaction is becoming more common where the focus is on repositioning existing assets rather than moving straight into development. “Where planning is already in place, the emphasis shifts to how the scheme is managed, how income is stabilised and how the exit is delivered over time. “That requires a structure which gives the borrower the flexibility to work through those stages properly, rather than forcing a single outcome too early.” Building, Design & Construction Magazine | The Choice of Industry Professionals
City Lifting takes delivery of the UK’s first Liebherr 195 HC-LH crane
City Lifting has become the first company in the UK to take delivery of the Liebherr 195 HC-LH luffing jib crane, marking a significant milestone for both businesses. Ahead of the crane’s first project, a housing development in Essex, Liebherr worked closely with City Lifting’s technicians during the initial erection process at the company’s Leighton Buzzard yard, providing specialist support and familiarisation training. The agreement for the new crane was first announced last year and later celebrated at Bauma in April, where representatives from City Lifting and Liebherr marked the occasion together. Headquartered in Purfleet, Essex, City Lifting is widely recognised for delivering complex lifting solutions across London, supporting projects ranging from restricted inner-city developments to work on some of the capital’s best-known landmarks. The Liebherr 195 HC-LH has been designed to suit constrained urban construction environments, making it well suited to City Lifting’s specialist operations. The crane can operate with a minimum working radius of just three metres and achieve an out-of-service position of less than 10 metres, while also offering flexible configuration options for tight sites. Advanced features include a hydraulic luffing system capable of delivering fast and precise movements in under 90 seconds, helping improve efficiency and site safety. The crane also benefits from Load-Plus technology, which can temporarily increase lifting capacity by up to 25%, alongside Liebherr’s Tower Crane OS operating system for enhanced control and operational monitoring. Designed with busy city-centre logistics in mind, the crane can be transported using just four vehicles, helping reduce disruption during delivery. Assembly has also been streamlined, with individual components weighing no more than eight tonnes, allowing smaller assist cranes to be used on site. Before entering service, City Lifting’s technical team completed a week-long training and familiarisation programme delivered by Liebherr, covering the crane’s systems and operational processes in detail. Trevor Jepson, Managing Director of City Lifting, said several practical design features influenced the decision to invest in the crane. He highlighted the position of the hoist winch within the first jib section, which reduces transport requirements and saves time, as well as the larger drum size that reduces rope layering on taller buildings. He also noted the crane’s accessible maintenance design, allowing safer access to the brake and gearbox from the fixed working platform regardless of jib position. Building, Design & Construction Magazine | The Choice of Industry Professionals
Costain chosen for Dover Harbour Board Framework
Utilities infrastructure upgrades will build resilience into UK international trade and drive economic prosperity. Costain, the infrastructure solutions company, has been selected by Dover Harbour Board to deliver critical upgrades as part of its Project Contractors Framework. The Project Contractors Framework will commission civils, building, and utility works to support a range of capital improvement projects across the Port of Dover. The works will help Dover Harbour Board deliver it’s 2050 Masterplan, enhancing the UK’s port capacity for international trade and travel while driving prosperity through economic development that creates new jobs and develops skills. The total value of the Project Contractors Framework is up to £235m, split into four lots. Costain has been selected for Lot 1, Utilities, and its responsibilities will involve refurbishing and replacing a variety of essential utilities distribution systems serving the Port of Dover, with a focus on enhancing asset value and embedding decarbonisation. The Framework will run for six years. Costain will draw on its extensive cross-sector experience delivering complex engineering and infrastructure services in highly regulated environments in the transportation, water, energy and defence sectors. Jonathan Willcock, Managing Director, Transportation at Costain, commented: “This award is testament to our strategy of being positioned in growing markets where significant long-term investment is being made to meet critical national needs. “We’re excited to play a key role in maintaining Dover’s status as a leading global maritime hub. Upgrading the port’s utilities infrastructure will help build resilience in the UK’s capabilities in international trade while at the same time create prosperity at a local and national level.” Chris Hughes, Business Transformation Director at the Port of Dover, said:“Costain’s appointment to the Project Contractors Framework reflects its technical expertise and track record in delivering complex infrastructure projects. The port is investing in critical upgrades to our utilities infrastructure that will strengthen resilience for UK international trade and support economic growth. We look forward to collaborating closely with Costain to ensure these projects are delivered safely, efficiently and to the highest standards.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Unlock Confidence in Leasehold Management: Free Online Training for RMC and RTM Directors
The Property Institute has launched a practical online training course designed to help current and aspiring directors of Residents’ Management Companies and Right to Manage companies better understand their responsibilities in residential leasehold management. Managing a leasehold building can involve a wide range of legal, financial, operational and safety duties. For many RMC and RTM directors, these responsibilities can feel complex, particularly when decisions affect fellow residents, service charges, contractors, compliance and the long-term running of a building. The Introduction to Leasehold Management for RMC/RTM Directors course has been created to provide a clear and accessible starting point. It offers practical guidance for those who want to build their knowledge, understand their role and manage leasehold buildings with greater confidence. The course has been developed by The Property Institute with input from a range of sector stakeholders, including the Ministry of Housing, Communities and Local Government, the Leasehold Advisory Service, the Building Safety Regulator, the Health and Safety Executive, and the Federation of Private Residents’ Associations. This industry input has helped shape a course that is relevant, practical and aligned with current expectations across the residential property management sector. TPI is responsible for the final content and delivery of the course. The Health and Safety Executive said it provided support to TPI in producing the guidance, which is aimed at improvements within the building management industry. HSE also endorsed the guidance, saying it follows a sensible and proportionate approach to managing health and safety. The Building Safety Regulator was also involved in producing the course and has endorsed it for following a sensible and proportionate approach to managing safety. The online course is made up of six introductory modules covering leasehold property management, the legal framework, service charges and ground rent, wider block management areas, the role and duties of an RMC or RTM director, and health and safety. Each module is introduced by AI Tutors, helping to create an engaging and interactive learning experience. Participants complete a short quiz at the end of each module, and those who pass all six modules will receive a Certificate of Completion. The course is available free of charge to both TPI members and non-members Building, Design & Construction Magazine | The Choice of Industry Professionals
Why Flexible Retail Space Is Becoming a High Street Development Tool
Across the UK, the future of the high street is increasingly being shaped by flexibility. For developers, landlords and local authorities, the question is no longer simply how to fill empty units, but how to keep town centres active while long-term plans, occupier mixes and consumer habits continue to change. Short-term retail space is becoming a practical part of that answer. From Vacancy Problem to Activation Strategy Empty retail units have traditionally been treated as a sign of market weakness. Today, they are also being viewed as assets that can be tested, animated and repositioned. A vacant shopfront can weaken footfall when left dark for months, but it can also become a launchpad for a new brand, a local maker, a seasonal operator or a community-led commercial concept. This shift aligns with wider regeneration thinking. London City Hall’s High Streets for All programme places clear emphasis on bringing underused high street buildings back into productive use, while supporting a broader mix of local business, culture and civic activity. For property owners, that creates a more active role: not just waiting for the next conventional tenant, but using interim occupation to prove demand. Why Retailers Want Shorter Commitments Retailers are also changing the way they assess physical space. Permanent stores still matter, particularly for brands that rely on product discovery, service or experience, but the route into bricks and mortar is less linear than it used to be. A brand may want to test a neighbourhood before signing a long lease, trial a new format, support a product launch or create a temporary destination around a campaign. That is where flexible retail formats are becoming useful. For brands assessing a pop up store in London, platforms like xNomad can help connect temporary demand with available spaces in established retail locations, allowing occupiers to test footfall, customer profile and operational fit before making bigger commitments. A Useful Tool for Landlords For landlords, short-term lets are not just a way to generate interim income. Used well, they can provide evidence. A successful temporary activation can demonstrate demand to future occupiers, make a unit feel more desirable, and help a landlord understand which categories work best in a specific location. In some cases, it can also keep a parade or centre feeling active while refurbishment, leasing or planning work continues behind the scenes. The approach is particularly relevant in mixed-use environments, where ground-floor activity has an outsized impact on how a development is perceived. A lively retail frontage can support residential value, strengthen office amenity, and create a more convincing sense of place. Supporting High Street Diversification The high street is no longer a purely retail environment. London Assembly research on high streets highlights the mix of residential, office, leisure, community and retail uses now shaping these locations. That makes temporary retail one part of a wider diversification strategy rather than a standalone solution. Short-term space can support that mix by giving emerging operators a lower-risk route into physical locations. Food concepts, design studios, independent fashion labels, wellness brands and local services can all use temporary occupation to understand demand before scaling. For local authorities and regeneration teams, these activations can also bring fresh activity into areas where traditional retail demand has softened. Experience Still Matters The continued relevance of pop-up retail is partly about experience. As Vogue has noted in its coverage of pop-up power, temporary stores can help brands create immediacy, scarcity and direct customer engagement in ways that online channels cannot fully replicate. That matters for developers too, because memorable physical experiences can give people a reason to visit and revisit a location. For construction and property professionals, this means retail strategy should be considered earlier in the development process. Flexible space, adaptable servicing, good sightlines, and units that can accommodate changing occupiers all make activation easier once a scheme is live. From Stopgap to Long-Term Value The strongest short-term retail strategies do not treat pop-ups as decoration. They treat them as a form of market intelligence. Each activation can reveal what a catchment responds to, which price points work, what dwell time looks like, and whether a brand has the potential to become a permanent occupier. As high streets continue to adapt, flexible retail space is likely to become a more common tool for developers, landlords and councils. It keeps places active, lowers the barrier for new occupiers, and turns uncertainty into evidence. In a market where long leases are harder to secure and consumer behaviour keeps shifting, that flexibility may become one of the most valuable assets a high street can offer.
UK Construction Faces Dire Straits as War Continues
Today, Glenigan releases the May 2026 edition of its Construction Index. The Index focuses on the three months to the end of April 2026, covering all underlying projects, with a total value of £100 million or less (unless otherwise indicated), with all figures seasonally adjusted. It’s a report which provides a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the last 12 months. The May edition continues the general theme of sector-wide decline, as the US-Iran War drags on, disrupting international supply chains. Overall, the value of work starting on site in the three months to April fell by 9% and finished a fifth (-22%) below 2025 levels. Whilst the fall is less severe than seen during previous months, there’s a general fear that the industry is within the eye of the storm and these results are a harbinger of potentially worse to come, as the supply chain disruption really hits home. Aside from international turmoil, political in-fighting on the home front has led to policy stagnation and a lack of investor and consumer confidence means contractors and subcontractors are keeping their shovels clean until greater certainty returns. Commenting on the Index, Glenigan’s Economics Director, Allan Wilen said, “Construction markets are becalmed. Faced with heighted geopolitical uncertainty generated by the Iran War, investors are reassessing their development plans. Whilst a rise in office, retail and health projects helped stabilise non-residential starts during the three months to April, both residential and civil engineering starts continued to decline. Parliament has now been prorogued and hopefully the King’s Speech, which comes after a successful State Visit to the United States, will provide an opportunity to reassess and reset the national direction.” He cautions, “However, whatever the outcome of the coming weeks, there’s a general consensus that there will be fewer opportunities in the back half of this year, which also implies far fiercer competition. Savvy players will no doubt have strategies in place to capitalise on this risk and opportunity, and I’d urge those who are currently behind the curve to start seriously considering their own game plans and how they can stay afloat during an upcoming period of disruption. Niches, including data centres, purpose-built student accommodation and supermarkets, present pockets of growth and those than can either already service or diversify to meet requirements stand to weather the headwinds currently gathering force.” Taking a closer look at individual sectors and verticals… Sector Analysis – Residential Residential construction remains stuck in a downward spiral as buyers hesitate and demand continues to stagnate. Developers face massive economic pressures, coupled with steep regulatory hurdles and planning headaches, stifling activity. Glenigan’s data revealed that starts declined 8% during the Index period, falling a third(-33%) against 2025 figures. Drilling deeper, private starts plummeted 39% compared to last year, dropping 9% on the preceding three months. The fall for social housing was slightly less severe, dipping 4% against the previous three months and it fell 16% on last year. Sector Analysis – Non-Residential There were a few bright spots within the non-residential verticals which posted a relatively modest increase of 2% against the previous year and remained flat during the Index period. This slight uptick was predominantly driven by offices, which experienced an exceptionally strong period, rocketing 99% over the preceding three months and remaining an impressive 94% above 2025 results. According to Glenigan, this was largely driven by activity in the capital, with standout projects like the £50 million 105 Old Broad Street office refurbishment in the City of London contributing to growth. In other verticals it was a mixed bag. Encouragingly, retail increased 13% against the preceding three months, but this renewed momentum failed to make up for lost ground on 2025 levels (-9%). Likewise, health rose 12% compared to the previous three months but faltered compared to last year’s figures (-10%). Conversely, education fell 10% during the Index period but finished 12% up on 2025 results. Unfortunately, all other verticals saw substantial decline as the geopolitical turmoil started to really bite, disrupting vital supply chains, driving up costs and dampening confidence, inevitably leading to delays. As Glenigan’s data show, this was most acutely seen within civils where work starting on-site crashed, tumbling 42% against the preceding three months and seeing performance slashed almost in half (-47%) compared to the previous year. Diving into the detail, Infrastructure work starting on-site fell 19% against the preceding three months and declined by 48% on last year. Utilities fared even worse, nosediving 56% against the preceding three months and by 46% against 2025 levels. Community and amenity project-starts also registered a particularly poor period, cascading by over a third (-39%) during the Index period to stand 45% down on the previous year. Slightly less severe, yet still disappointing, Hotel & Leisure activity stumbled, having declined 32% against the preceding three months to stand 17% down against the previous year. Similarly, Industrial fared no better, falling 23% against the preceding three months, finishing 29% below the previous year. Regional Outlook Regionally, there were a handful of outliers with London experiencing a particularly robust Index period, soaring 25% against the preceding three months to finish 59% up on 2025 results. As previously noted, a strong performance in the office sector helped drive this growth. Northern Ireland was also in clover, rising 20% compared to the preceding three months to stand 53% up on the previous year. More modestly, yet no less impressive, the North East also performed well, posting a 14% increase during the Index period, up by almost a fifth against the previous year. Elsewhere, the picture painted was one of decline. The West Midlands experienced an especially poor period, declining 17% against the preceding three months and declining 36% against the previous year. The South West also performed poorly, declining 44% against the preceding three months to stand a dismal 60% down against the previous year. Not to be outdone, the South East also declined, by 17%