HB Reavis set out ambitious new vision for unlocking One Waterloo
HB Reavis has unveiled new plans for One Waterloo, a transformational vision to sustainably redevelop Elizabeth House into a vibrant mixed-use destination and connected gateway to Waterloo Station and the South Bank Local residents, businesses and visitors are invited to shape the proposals, as HB Reavis launches public consultation on the scheme. Building on HB Reavis’ long-standing commitment to revitalise the site, the mixed-use masterplan for One Waterloo reflects a broader shift in the UK and London to prioritise sustainable development that minimises demolition and saves carbon through construction and operation. Encompassing a range of uses – including new hotels, purpose-built student accommodation (PBSA), built-to-rent (BTR) homes, retail and leisure, workspace and public realm – this scheme will create a multitude of jobs for local people. The proposals aim to catalyse Waterloo’s economy while delivering immediate and ongoing local benefits. As a landmark retrofit scheme, One Waterloo seeks to achieve net zero carbon in construction and operation. Compared to a demolition and new build approach, the new retrofit led One Waterloo proposals target embodied carbon cuts of 75%, to responsibly deliver major change. HB Reavis’ retrofit strategy for One Waterloo will mean an expected delivery date three and a half years following planning permission. PLP Architecture, the global architecture and urban design practice behind the proposals, has reimagined the existing building to reduce engineering complexity and minimise disruption next to the UK’s second-busiest train station and above Waterloo Station’s critical transport infrastructure that supports 70 million journeys annually. The proposals include: This campus will establish a complementary mix of hotel guests, students, residents, workers and visitors, creating a vibrant and resilient 24/7 destination. Three new pedestrian routes to connect Waterloo Station are central to the plans. Currently, Elizabeth House acts as a barrier between the station and the surrounding area. The proposals would open up the site, introduce a public square and provide new pedestrian routes between York Road, The Curve, Leake Street, the South Bank and Waterloo Station. Revitalising the station frontage, the proposals also feature new shops, restaurants and leisure spaces to create an active streetscape and a welcoming destination to stimulate activity throughout the day and evening. Once complete, One Waterloo is expected to support over 1,000 new jobs in restaurants, hotels, offices, startups, among other sectors. It would secure long-term investment in a strategically important part of Lambeth. Steven Skinner, CEO at HB Reavis Developments, said: “Waterloo is one of the most exciting places in central London. We have spent a long time looking closely at the site and what this part of Lambeth really needs. We are excited to share our ideas for a mixed-use scheme, including new homes, workspaces, shops and places for people to come together that will make this a genuine destination. Our starting point has been the environment and community. By retaining the existing structure rather than demolishing it, we’ll save 100,000 tonnes of carbon, with less noise and disruption for local residents and businesses as a result. But this only works in partnership with the people who already live and work here. That means leaving them better off through long-term jobs supported by the new workspaces, shops and hospitality, and real opportunities for local businesses. Which is why we’re encouraging people to come along to our consultation events and help shape what One Waterloo becomes.” Public consultation is an opportunity for people to learn more about the new proposals and share their views on the future of this important site. Feedback received will help shape the One Waterloo masterplan prior to submission of a planning application. Local residents, businesses, neighbours and visitors are invited to view the proposals, meet the project team and provide their feedback at the following consultation drop-in sessions: More information can be found on the consultation website: https://onewaterlooconsultation.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Major logistics development site brought to market along Scotland’s strategic M8 corridor
Global real estate adviser CBRE has been appointed by Castlebrooke to bring Prime4Eight to market, a four-unit industrial and logistics development, totalling 377,200 sq ft, which is strategically positioned along Scotland’s key M8 corridor between Glasgow and Edinburgh. Prime4Eight has planning consent for four Grade A industrial and logistics units, ranging in size from 77,200 sq ft to 150,300 sq ft, providing occupiers with a rare opportunity to secure high-quality warehouse accommodation in one of the country’s most constrained logistics markets. Located in the heart of Scotland’s established logistics region, the development benefits from excellent connectivity, with direct access to the M8 via Junctions 4 and 5, providing strong links across Scotland and to the North of England via the M74 and M6. The surrounding area has become one of Scotland’s most established logistics destinations, with Junction 4 accommodating major occupiers including Aldi, Schuh and GXO across approximately 2.2 million sq ft of warehouse space. Complementing this, the nearby 2 million sq ft Tesco Distribution Centre at Junction 5 further reinforces the strength of the location as a premier distribution hub. Prime4Eight is uniquely positioned to accommodate both large-scale and big-box occupier requirements and represents one of the only opportunities along the M8 corridor capable of delivering modern warehouse space at scale within relatively short timescales. At the time of reporting, there is zero grade A stock under construction above 50,000 sq ft across the Central Belt, therefore there is a clear opportunity for Prime4Eight to meet the potential demand in this size range. The units will be delivered to an institutional-grade specification, providing best-in-class distribution accommodation. The scheme will also incorporate strong ESG credentials, aligning with the evolving sustainability requirements of modern occupiers and investors. The construction of unit 1, circa 77,200 sq ft, is anticipated to start in Q3 2026 and will be available for occupation from Q3 2027. The remaining units will be available for pre-let discussions and further speculative development may commence following the success of phase one. Craig Semple, Director at CBRE, said: “Prime4Eight represents one of the most significant industrial and logistics opportunities currently available in Scotland. Schemes that are capable of accommodating large-scale occupiers, while offering immediate access to the M8 and a best-in-class specification, is extremely rare. “Occupier demand continues to be driven by the need for high-quality, sustainable logistics space in well-connected locations, and Prime4Eight is exceptionally well placed to meet that requirement. With occupation anticipated from next year, and the industrial vacancy rate along the M8 corridor between Glasgow and Edinburgh currently hovering at a record-low of circa 2.5%, we’re looking forward to engaging with occupiers seeking a future-proof solution in one of Scotland’s most established logistics locations.” A spokesperson for Castlebrooke said: “Prime4Eight has been designed to meet the evolving needs of modern logistics occupiers, combining a strategic location with high-quality, sustainable accommodation in one of Scotland’s most established distribution corridors. “Bringing the scheme to market marks an important milestone, and we are pleased to be working with CBRE as we introduce this opportunity to occupiers. We are confident that Prime4Eight will attract significant interest from businesses looking for high-quality logistics space that supports their long-term operational and sustainability ambitions.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Lendlord Q3 data shows 45.1% of UK buy-to-let is company-owned, rising to 57.6% for large landlords
Property management and finance platform Lendlord has published Q3 2026 buy-to-let ownership data, showing that 45.1% of UK BTL ownership is company-held, compared with 54.9% held privately. Among landlords with 20 or more properties, company ownership rises to 57.6%. The figures, drawn from Lendlord’s Q3 2026 UK BTL Market Report, show that company ownership is already the majority model among larger portfolios, while smaller landlords remain predominantly private. Key findings from the Q3 2026 data include: · 45.1% of BTL ownership is through a company; 54.9% is held privately. · Among landlords with 1-3 properties, 67.1% of ownership is private. · Among landlords with 20 or more properties, 57.6% of ownership is company-held. · Company ownership first becomes the larger share in the 11-20 property band. · The North East is the most corporate market, at 53.5% company-owned. · Company ownership is also the larger share in Yorkshire & Humberside and Scotland. The data points to a clear split in how the market is structured. Private ownership still dominates among smaller landlords. Once portfolios reach 11 properties or more, company structures become the typical vehicle. The same pattern appears geographically, with company ownership more established in the North East, Yorkshire & Humberside and Scotland. The findings form part of Lendlord’s ongoing work to give brokers, landlords and lenders data-led insight into the UK buy-to-let market. Aviram Shahar, co-founder and CEO of Lendlord, said: “Company ownership is no longer a niche structure used only at the very top of the market. 45.1% of BTL ownership is already sitting in a company, and among larger portfolios it is the majority model at 57.6%. “That split matters. Smaller landlords still tend to hold in their own name. Larger landlords, and more of the North, have already moved into companies. Lendlord is the place for landlords to bring portfolio, mortgage and tax data together, stay on top of compliance and manage that shift with confidence.” More information is available at www.lendlord.io and https://lendlord.io/btl-ownership-insights-q3-2026/. Building, Design & Construction Magazine | The Choice of Industry Professionals
£67m Finance Deal Backs Landmark 30-Storey Cardiff Build-to-Rent Tower
A £67.2 million financing package has been agreed to support the delivery of Harlech Court, a major 30-storey build-to-rent development currently under construction in Cardiff. Close Brothers Property Finance has provided the facility to Draycott Group for the 340-home residential scheme, which is set to become one of the tallest buildings in Wales and make a significant addition to Cardiff’s evolving skyline. Construction is already progressing on site, with the main tower crane now installed. Intelle Construction is leading delivery as main contractor, while Stephenson RC Frames has been appointed as frame contractor. The development represents Draycott Group’s largest project to date and will provide 340 purpose-built rental homes within a high-rise scheme in the Welsh capital. The substantial funding agreement provides further momentum for the construction programme and demonstrates continued investment in Cardiff’s build-to-rent market as demand for professionally managed rental accommodation grows in major regional cities. Phil Hooper, CEO of Close Brothers Property Finance, said: “Harlech Court is exactly the type of scheme our Structured Finance team was set up to back: a landmark development in an excellent central location in a capital city that continues to see strong demand for quality rental stock.” For Draycott Group, Harlech Court builds on more than four decades of involvement in Cardiff’s residential and commercial property markets. Sajid Ghaffar, CEO of Draycott Group, said: “This is the largest scheme that we have delivered to date and it will transform the Cardiff city skyline. “Cardiff is a market we know extremely well, having been active in residential and commercial property development for over 40 years, and Harlech Court builds on that long-standing track record.” The project adds to the growing pipeline of build-to-rent development across the UK’s regional cities, where larger residential schemes are increasingly combining significant institutional and specialist development finance with high-density construction. With the tower crane now in position and the £67.2 million finance facility secured, construction at Harlech Court is set to gather pace as the 30-storey development begins to take its place on the Cardiff skyline. Building, Design & Construction Magazine | The Choice of Industry Professionals
Glencar Completes Martland Park Development in Wigan
A 101,805 sq ft BREEAM Excellent industrial and logistics facility delivered for Hillwood UK at Martland Park, Wigan. Glencar has completed works at Martland Park in Wigan, achieving practical completion on a 101,805 sq ft industrial and logistics unit delivered for Hillwood UK. The high-specification facility has been developed to meet the requirements of modern industrial and logistics occupiers, with a strong focus on sustainability, operational efficiency, and long-term performance. The scheme has achieved a BREEAM Excellent rating, reflecting its environmental credentials. The completed development features a 12-metre haunch height, first-floor office accommodation with Cat A fit-out, and a range of sustainability measures including photovoltaic panels, electric vehicle charging points, and cycle facilities. Works also included comprehensive groundworks, attenuation, and drainage infrastructure to support the site. Glencar worked closely with the wider project team throughout delivery, including Goodrich Consulting LLP, UMC Architects, Baynham Meikle, and Cundall, alongside its extended supply chain. The completed building provides high-quality, future-ready industrial space, supporting employment and inward investment in the Wigan area and setting a new benchmark for sustainable industrial and logistics development at Martland Park. This marks Glencar’s second completed project with Hillwood UK, further strengthening our partnership within the industrial and logistics sector. Building on this momentum, Glencar has also recently begun work on a third scheme with Hillwood, Hillwood Park in Luton. Tom Kearsley, North Regional Director at Glencar, commented: “The completion of Martland Park is a strong example of what can be achieved through close collaboration with a committed client and consultant team. We are proud to have delivered a high-quality, sustainable facility for Hillwood UK that meets the demands of modern industrial and logistics occupiers.” Mark Wright, Vice President at Hillwood UK, added: “We are very pleased with the completed building at Martland Park and would like to thank Glencar and the wider project team for delivering a high-quality facility to a strong specification. The development reflects our commitment to providing sustainable, well-designed industrial and logistics space and represents an excellent addition to our portfolio in the North West.” Project Team Client: Hillwood UKConsulting Engineer: Goodrich Consulting LLPArchitect: UMC ArchitectsEngineer: Baynham Meikle Building, Design & Construction Magazine | The Choice of Industry Professionals
Vistry Secures £350m Homes England Boost for Affordable Housing Delivery
Vistry has secured £350 million in government grant funding to accelerate the delivery of social and affordable housing across England outside London. The housebuilder has been named among 33 strategic partners selected by Homes England to support the Government’s new £39 billion Social and Affordable Homes Programme (SAHP), which will provide long-term funding for housing delivery over the next decade. The agreement represents a significant funding boost for Vistry’s partnerships-led housing model and will support the delivery of new affordable homes alongside councils, housing associations and other registered providers. Vistry is one of relatively few private-sector housebuilders included among the strategic partners, with the majority of organisations selected for the programme comprising housing associations and local authorities. Collectively, the partnerships announced by Homes England are expected to support the creation of more than 73,000 new homes, providing greater long-term certainty for the affordable housing development pipeline. Vistry has worked with Homes England through successive affordable housing programmes for almost two decades and has established relationships with 29 of the other 32 strategic partners announced alongside the company. Adam Daniels, Chief Executive of Vistry, said: “Vistry has received direct grant funding awards under successive affordable homes programmes for nearly twenty years, and this award reflects our established track record and commitment to delivering much needed affordable homes in collaboration with Homes England and our partner providers. “We are delighted that Homes England has made this significant announcement that will create over 73,000 new homes and provide Vistry, its partners and the wider sector with a much-needed stimulus. “We already operate in all of the Established Mayoral Strategic Authorities and have established relationships with 29 of the 32 other strategic partners announced this morning. We look forward to continuing to work with Councils and Homes England to meet local ambitions to increase housing supply at pace.” The £350 million allocation comes at an important point for Vistry as the group continues to focus its business around partnership-led residential development and affordable housing. The company has recently warned that it expects to report a first-half pre-tax loss of around £30 million following a series of measures designed to strengthen cash generation and reset its balance sheet. Average daily net debt has approached £800 million, while around £50 million of charges are expected from measures including increased sales discounts, accelerated asset disposals and write-downs on lower-margin developments. Vistry has also prioritised faster payments to suppliers as part of the financial reset. Against this backdrop, the new Homes England funding provides greater visibility for Vistry and its partners over future affordable housing delivery. With £350 million allocated through the ten-year programme, the agreement gives Vistry a significant platform to work with local authorities and housing providers on new residential developments, supporting the Government’s wider ambition to increase the supply of social and affordable homes across the country. Building, Design & Construction Magazine | The Choice of Industry Professionals