Kier Builds London Retrofit Pipeline with £60m Holborn Office Transformation
Kier is set to deliver a major £60 million office retrofit in London’s Holborn district after being selected as preferred contractor for Railpen’s transformation of 26 Red Lion Square. The contractor is entering into a pre-construction services agreement for the 100,000 sq ft development, known as The Fenner, ahead of a planned start on site later this year. Designed by Stiff + Trevillion, the extensive refurbishment will transform the existing building into eight floors of Grade A workspace, with construction expected to take around two years. Rather than pursuing wholesale redevelopment, the project will retain and reuse significant elements of the existing structure, combining this approach with substantial architectural and environmental upgrades. Plans include new façades addressing both Theobalds Road and Red Lion Square, alongside enhanced ground-floor amenities intended to improve the arrival experience and provide modern facilities for occupiers. More than 9,000 sq ft of roof terraces will also be introduced, adding external amenity space to the building and helping reposition the property for the next generation of central London office occupiers. Sustainability and operational performance are central to the redevelopment. Railpen is targeting BREEAM Outstanding, EPC A and a NABERS 5-star rating for The Fenner, placing ambitious environmental objectives at the heart of the refurbishment programme. Five contractors competed for the project, with Kier ultimately selected on the strength of its proposed team and experience delivering complex office schemes within central London. Graham Potts, regional director at Kier Construction London & Thames Valley, said: “Railpen is a new and significant client for Kier, one whose ambitious pipeline and progressive agenda aligns perfectly with our own values and approach.” The appointment further strengthens Kier’s growing workload in London’s commercial refurbishment and retrofit market. It follows the contractor securing Derwent London’s £99 million redevelopment of Holden House on Oxford Street, as well as The Crown Estate’s transformation of the Grade II-listed 10 Piccadilly, comprising approximately 90,800 sq ft. Together, the projects underline the increasing importance of retrofit within the capital’s office construction market as property owners look to modernise existing assets while retaining valuable structures and improving energy performance. The Fenner is also part of a much larger investment programme being undertaken by Railpen, encompassing around 600,000 sq ft of commercial refurbishment and development across London and Birmingham. With new façades, upgraded amenities, substantial roof terraces and ambitious environmental targets, the £60 million Holborn project will see an existing central London office asset comprehensively repositioned without sacrificing the embodied value of its underlying structure. For Kier, the scheme represents another significant addition to a growing portfolio of high-value retrofit projects as the transformation of existing buildings continues to become an increasingly important part of the UK commercial construction market. Building, Design & Construction Magazine | The Choice of Industry Professionals
Grainger Unveils £60m BTR Vision to Transform Chester’s Linenhall Site
Grainger is progressing plans for a £60 million Build to Rent development in the heart of Chester, which could bring around 300 professionally managed rental homes to a long-vacant city centre site. The listed residential landlord and developer is working with landowner Chester Race Company and UK Land & Property to regenerate the former Linenhall stables site, located between Chester Racecourse and the city centre. Plans are being developed for a six-storey residential scheme comprising approximately 300 BTR apartments, with a planning application expected to be submitted to Cheshire West and Chester Council in November. Subject to securing consent, construction could begin during 2027. The development would replace an existing consent for student accommodation and instead create a purpose-built rental community aimed at a broad range of residents, including young professionals, couples and people looking to downsize. Architect Falconer Chester Hall is part of the professional team developing the proposals, alongside Tier Consult, Ridge, Curtins, Fenix Heritage, Asteer Planning and Clayton Property. The Linenhall site has a long history of proposed redevelopment. Formerly occupied by stable buildings serving the nearby racecourse, the land has been cleared since 2009 and is currently operating as a surface car park. The approximately 1.8-acre site sits within Chester’s historic City Walls and a conservation area, giving the design team the challenge of introducing a substantial new residential development within one of the country’s most distinctive historic city environments. Earlier proposals for the land have included private apartments and purpose-built student accommodation, but despite previous planning permissions, a major redevelopment has yet to come forward. The latest £60 million BTR proposals could finally unlock the site while supporting the continued growth of Chester’s city centre residential population. Louise Stewart, chief executive of Chester Race Company, said the partners believe residential development represents a strong long-term use for Linenhall, with the ambition to create a high-quality scheme that contributes to the growth and vitality of the city centre. The location is particularly suited to the Build to Rent model, providing residents with access to the city centre’s employment, retail, leisure and hospitality offer while also being positioned close to Chester Racecourse and public transport connections. For Grainger, the project would add another significant development to its expanding UK BTR portfolio, while bringing its long-term rental management model into Chester. The proposals also reflect the wider role Build to Rent can play in city centre regeneration, particularly where underused brownfield or surface car park sites can be transformed into professionally managed residential communities. If approved, the Linenhall development would replace a long-standing gap in Chester’s urban fabric with around 300 new homes, representing a major investment in both the city’s residential market and its wider built environment. Building, Design & Construction Magazine | The Choice of Industry Professionals
Major refurbishment at iconic 43 Castle Street in Liverpool
A significant refurbishment programme is underway at 43 Castle Street in Liverpool City Centre, as the Local Authority Pension Fund owner invests in upgrading the iconic and well-known office building to meet evolving occupier expectations and needs. The works will focus on enhancing both workspace quality and occupier wellbeing, with a full refurbishment of the first floor alongside the introduction of new end-of-journey facilities. Due for completion in December 2026, the first-floor refurbishment will deliver a range of modern office suites, including spaces with access to private terraces. The redesign reflects changing demand for high-quality, flexible accommodation in central locations. A further phase, completing in Q1 2027, will see the delivery of new basement end-of-journey facilities. These will include showers, secure cycle storage and dry lockers, supporting more sustainable commuting choices and day-to-day convenience for occupiers. The building, located in Liverpool’s established commercial quarter and Castle Street Conservation Area, has already undergone upgrades in recent years, including improvements to the reception and selected office floors. This latest programme represents the next stage in its repositioning. Project management consultancy T&T is advising on the scheme. Simon Hepple, Project Manager at T&T, said: “Environmental and social improvements, including diversity, inclusivity, belonging and equity is embedded in all aspects of our advice and project delivery to enhance sustainability and occupant wellbeing, including access to and around the building.” Letting agent CBRE says the refurbishment is aligned with clear shifts in occupier priorities. Jade Bushell, Surveyor at CBRE, commented: “Occupier requirements have shifted significantly over recent years, with businesses prioritising quality, flexibility, ESG and wellbeing in their real estate decisions. This refurbishment scheme reflects those priorities, helping to create an environment that supports modern working practices and enhances everyday occupier experience.” Suites will be available in a range of sizes, targeting both established businesses and growing occupiers seeking a central Liverpool base with upgraded amenities. CBRE is sole letting agent. Building, Design & Construction Magazine | The Choice of Industry Professionals
M Group launches first Sustainability Strategy alongside 2026 ESG Report
Five-year plan commits M Group to 100% electric company cars and a 42% cut in Scope 1 and 2 emissions by FY30, as FY2026 results show emissions are already 20.7% below baseline. M Group, the UK’s leading infrastructure services partner, has launched its first Sustainability Strategy, turning its environmental, social and governance priorities into a clear set of measurable commitments through to 2032. The move comes after the Group unveiled record levels of revenue, profit and order book in its FY26 results. Published alongside M Group’s FY2026 ESG Report, the strategy follows the Group’s first Double Materiality Assessment, carried out with independent sustainability advisers ERM. It focuses on seven material outcomes across three pillars: Environmental Stewardship, Social Responsibility, and Trusted Operations. The Group Operations Board has endorsed the strategy, with each outcome given a named executive owner and sitting within M Group’s risk and assurance processes, with progress reported annually. The strategy’s headline commitments include: The accompanying FY2026 ESG Report records: Andrew Findlay, M Group Chief Executive, said: “We support the country’s critical regulated businesses to deliver vital services for communities across the UK, and they need like-minded partners who can help them deliver their binding environmental commitments. Our ambition is simple: to leave things better than we found them – better infrastructure, better careers and a better business for those who come after us.” Andrew Hunt, Director of ESG and Innovation at M Group, said: “The report shows how we’ve performed; the strategy sets out where we’re going. Each material outcome has an owner and a measurable target or milestone, and we’ll report progress every year. This is the direction our business is heading, will measure, and be held accountable to.” M Group’s Sustainability Strategy 2027-2032 is available here and the ESG Report 2026 is available here Building, Design & Construction Magazine | The Choice of Industry Professionals
Leading premium workspace and amenity provider x+why appointed to enhance Level 7 in one of London’s most prestigious buildings, 22 Bishopsgate
x+why is delighted to announce its appointment to enhance the offering of Level 7 at 22 Bishopsgate, its first work and events space within The City of London. This exceptional workspace, to be known as OnSeven at 22 Bishopsgate, will combine world-class hospitality, coworking, breathtaking skyline views, and a vibrant community of ambitious professionals at the centre of the City’s financial district. Due to open in January 2027, the new space forms part of a strategy to evolve the amenity offer at 22 Bishopsgate, one of London’s most prominent office buildings, and continue to meet the changing needs of occupiers. The 12,860 sqft space will include 80 dedicated desks, 150 co-working spaces, 4 meeting rooms and 70 seat, theatre style event space which will be available 24/7. x+why will deliver its signature curated programme of events calendar for both members and other occupiers in the building including social breakfasts and drinks events, wellness including yoga and breathwork, shared curiosity and thought leadership talks. The events space and meeting rooms will be available to non-members for executive meetings, AGMs, half day or by the hour. Under 10 minutes’ walk from Liverpool Street, Bank and Moorgate Stations, On Seven at 22 Bishopsgate offers fantastic transport links to the rest of London, the Home Counties and beyond and will provide a flexible base for businesses and individuals working in and around the City, including companies in the financial, legal and technology sectors, SMEs, entrepreneurs and hybrid workers. Rupert Dean, founder and CEO of x+why comments: “Bringing x+why to 22 Bishopsgate is a defining milestone for us. It gives us the opportunity to deliver a workplace at its very highest level with exceptional service, outstanding amenity and experiences that bring people together. We want to create far more than somewhere people simply come to work: we want to create a destination where work, events, learning and social connection all come together.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Shawbrook completes £60.5m refinancing for Grace Real Estate Partners
Five-year facility supports the next phase of Grace’s 832-unit Northern Portfolio strategy Shawbrook has completed a £60.5m, five-year interest-only senior facility for Grace Real Estate Partners, refinancing its 832-unit Northern Portfolio and supporting the next phase of its investment and asset management strategy. The transaction represents the largest facility completed by Shawbrook to date. The facility is secured across a residential portfolio in Newcastle and the wider North East. It provides Grace with a long-term capital structure as it continues to optimise income, invest in the quality and energy efficiency of the assets, and capture further rental and operational upside. Grace, a UK-focused real estate investment and asset management firm, entered the Newcastle market in 2023 with the acquisition of a 478-unit residential portfolio. In June 2025, it acquired a further 354 self-contained studios across three freehold buildings in central Newcastle, creating a residential cluster of 832 units. Following the execution of its value-add strategy, Grace sought to refinance the portfolio’s existing debt and move the assets beyond the acquisition and initial value-creation phase into a period of continued optimisation and income growth. Since acquisition, the portfolio has achieved a c.22% uplift in value over aggregate acquisition value, supported by rental growth, targeted capital expenditure, improved occupancy and the professionalisation of operations. Grace’s modernisation and energy-efficiency programme has also been delivered on time and below budget to date. Shawbrook’s Structured Real Estate team worked closely with Grace to understand the portfolio’s income performance, its vertically integrated operating platform and its wider business plan. The resulting facility was structured to align with the established income profile of the assets and support continued investment across the portfolio. Tirath Singh, Head of Structured Real Estate at Shawbrook: “We are delighted to support Grace with this significant refinancing. The portfolio’s strong performance reflects targeted investment and active management. By understanding the assets and wider business plan, we provided a flexible, long-term facility to support the next phase.” Georges Tohme, Founding Director at Grace Real Estate Partners: “Shawbrook and their professional and dedicated team engaged with both the portfolio and our wider business plan from the outset, and that understanding was central to delivering a transaction of this scale with certainty. Since our initial investment in Newcastle in 2023, we have built significant operational scale, strengthened income performance and continued to invest in the quality and energy efficiency of the assets. The new facility provides an appropriate long-term capital structure for the next phase of our business plan. We are thrilled with the outcome of this refinancing.” Building, Design & Construction Magazine | The Choice of Industry Professionals