GBP 50m McLaughlin & Harvey contract awarded for PATRIZIA’s major City redevelopment at 108 Old Broad Street
PATRIZIA, an investment manager in global real assets, has received approval from long-standing partner Far East Organization, Singapore’s largest private property developer, to execute the GBP 50 million main build contract for the redevelopment of 108 Old Broad Street in the City of London. The contract has been awarded to McLaughlin & Harvey, with works commencing in early March 2026 and practical completion targeted for August 2027. The planning consent achieved in November enables PATRIZIA to transform the 1990s building into a modern, highly sustainable and amenity-rich destination in the heart of London’s financial district. The scheme will deliver approximately 120,000 sq ft of high-quality workspace following a 15% uplift in net lettable area. Works include sixth- and seventh-floor extensions, culminating in a new seventh-floor pavilion and large communal landscaped terrace. Ten landscaped terraces will be introduced across the upper floors, alongside a new ground floor café, enhanced reception and high-specification lower ground end-of-journey facilities. A fully electric, smart-enabled services strategy will underpin the redevelopment, targeting EPC A (B minimum), BREEAM Excellent and WiredScore Gold, reinforcing the project’s low-carbon and future-ready credentials. Knight Frank and Cushman & Wakefield have been instructed as joint leasing agents, with marketing now underway to secure occupiers ahead of completion. The scheme has been designed by Stiff + Trevillion, with Quartz acting as project manager, Gardiner & Theobald as quantity surveyor, and Montagu Evans advising on planning. Dan Williams, Head of Investment Management Development at PATRIZIA, commented: “This appointment marks the transition from consent to delivery at 108 Old Broad Street and a key step in executing our repositioning strategy for prime City assets. With the building stripped out and ready to mobilise, we are progressing into construction with a strong team in place to deliver significant upper-floor extensions, best-in-class amenity and an all-electric building strategy. Our focus now is on safe, efficient execution and quality outcomes through to completion.” Chris Collins, Pre-Construction Director at McLaughlin & Harvey, commented: “We are proud to partner with PATRIZIA on a redevelopment that combines significant structural interventions with ambitious sustainability targets. Our focus will be on delivering the extensions and all-electric building strategy to the highest quality standards while maintaining programme certainty in a busy City environment.” The repositioning of 108 Old Broad Street reinforces PATRIZIA’s wider value-add strategy across key European cities, building on a portfolio of landmark brown-to-green transformations within its EUR 2.5bn+ pan-European value-add programme. These projects form a core pillar of the investment manager’s commitment to delivering future-fit offices through design quality, decarbonisation and proactive asset management. Ker Gilchrist, Head of UK Investment Management at PATRIZIA, added: “The redevelopment of 108 Old Broad Street demonstrates how we connect international capital with our own asset solutions to deliver a Grade A, amenity-rich building offering compelling relative value in the City market. As we move into the construction, we remain focussed on disciplined execution to ensure the asset is positioned strongly for occupiers seeking quality and sustainability in a core financial district location.” Building, Design & Construction Magazine | The Choice of Industry Professionals
London’s tall buildings market under pressure as costs jump by up to 40% in five years
New report also discovers that for skyscrapers, shape is as important as height A new report published today by the global professional services company Turner & Townsend provides a unique perspective on the market for tall buildings across six global cities. The Global Tall Buildings report draws on Turner & Townsend’s exclusive data to provide insights into the challenges and opportunities facing developers building skyscrapers in London, New York, Seoul, Tokyo, Mumbai, and Dubai, including costs and the impact of designs and height on viability.1 The report found that the cost of delivering a new office building in London has increased by up to 40% since 2020, one of the largest price increases out of the cities analysed, and it is now more than three times as expensive to build skyscrapers in the city as it is in Seoul, and ten times as it is in Mumbai. This significant cost rise is the result of a range of factors that include price inflation prompted by conflicts and geopolitical events, significant regulatory changes, enhancements to the product, and challenging trading conditions following Brexit. However, more positively, demand for high quality, sustainable space remains strong, and confidence is beginning to return, with some large investors using their ability to take a longer-term view to get their towers into a favourable letting market. As a result, it is still possible to deliver a high quality, financially successful skyscraper in London, but only if project teams work together to address viability issues from the outset. One key finding from the report is that the shape of a skyscraper is as important as the height when it comes to the overall cost. In a city like London, there can be a 25% difference in price between the most ambitious and the most cost-efficient projects, with massing being a key determining factor. With its diverse skyline and broad range of buildings, London stands out globally for having progressed through four distinct but overlapping waves of high-rise construction in just three decades, driven by differing typologies, and developers have learned important lessons along the way. Looking to the future, London is moving through its fifth wave where there is a deep focus on value, and high-quality towers are being realised against a challenging economic backdrop: Turner & Townsend is one of the industry leaders when it comes to providing project management, cost and commercial management and programme advisory services, and has helped deliver over 200 tall buildings across the world, including the likes of 22 Bishopsgate, London; 30 Hudson Yards, New York; The Jewel, Australia; and Piramal Aranya in Mumbai. Steve Watts, Head of Tall Buildings at Turner & Townsend, said: “Demand for tall buildings globally remains incredibly strong, although the latter in London has suffered a difficult period. With elevated construction costs further pressured by continuing inflation, as well as unfriendly financing conditions and softened yields, viability is now the most pressing issue, and doing “more with less” is the order of the day in a lot of markets, particularly London. “Now more than ever, it is important to recognise that shape is as important as height when it comes to delivering a project cost efficiently, and there is an ever-increasing focus on ensuring tall buildings are integrated into the broader cityscape, whether that is by offering public amenities or a greater range of uses on the ground floors. “In this context, to deliver a successful project in London, it is critical for project teams to work together at the outset to address viability issues: to test briefs; apply greater focus at an earlier stage to both design strategies and detailing; to secure the help of key parts of the supply chain sooner; and to set up projects with clarity and alignment. London boasts one of the most compelling and diverse skylines in the world, and with the right processes in place, there is no reason why the city can’t continue to lead the way for many years to come.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Novus and The Guinness Partnership – delivering for communities across the South West
National maintenance, refurbishment and fit-out contractor Novus Property Solutions has secured a new 15-year planned improvement and major works contract with The Guinness Partnership in the South West, reinforcing a 14-year strong relationship of trusted delivery and shared purpose. Valued at £11 million per year, the contract will see Novus deliver a comprehensive programme of planned maintenance works, including kitchen and bathroom replacements, electrical heating upgrades, external works and window and door installations. Ensuring homes remain safe, comfortable and fit for modern living, the scope also includes addressing any defects classified as a significant hazard under the terms of Awaab’s Law which came into force in October 2025. The Guinness Partnership is one of the largest affordable housing providers in England, with more than 160,000 residents living in more than 70,000 homes. Committed to providing high quality homes, the framework with Novus directly supports operational delivery alongside social value to ensure meaningful impact in homes and their communities. Steve Gayter, Executive Director of Operations at Novus Property Solutions, said: “Over the past 14 years, we have developed a way of working with The Guinness Partnership that prioritises quality, responsiveness and a positive experience for every resident. Being awarded this 15-year framework for the South West region is a reflection of our ability to deliver at scale and to the highest standards while remaining focussed on the individual needs of the communities we serve.” Catriona Simons, Group Chief Executive at The Guinness Partnership said: “We’re delighted to welcome Novus Property Solutions as one of our five new long-term partners, and for them to have formally signed our Planned Investment and Major Works contract. These partnerships demonstrate our shared commitment to investing in and improving residents’ homes and marks the beginning of a relationship we expect to grow and strengthen in the years ahead, as we work together to deliver lasting benefits for our residents. “Residents are central to this partnership. When selecting our partners, we placed residents’ priorities at the front of the process. Their feedback – ranging from the importance of clear communication to consistently high‑quality works – directly shaped our decisions and will continue to guide how these partnerships operate day to day. “We look forward to working closely with Novus Property Solutions in the years ahead, as we focus on improving residents’ homes.” Novus Property Solutions has supported The Guinness Partnership since 2012, delivering more than 2,400 component upgrades as part of its planned maintenance programme. Work has included carrying out upgrades under the SHDF Wave 2 retrofit covering EWI, windows and doors, roofing, and ventilation to 50 properties in Crewe which was completed ahead of schedule. The team also successfully undertook a heritage refurbishment project including roofing works, fire safety upgrades and conservation-compliant finishes for 117 apartments housed within Grade II buildings at Lansdown Crescent in Cheltenham. To find out more about Novus Property Solutions please visit https://www.novussolutions.co.uk/. Building, Design & Construction Magazine | The Choice of Industry Professionals
TOPDON brings dual-lens thermal imaging to HVAC engineers
Global thermal imaging manufacturer TOPDON has launched the TC001 Max, a dual-lens smartphone-connected thermal camera aimed at HVAC engineers, electrical contractors and building services technicians. The camera combines an infrared sensor with a built-in visible light camera, fusing the two images together to give engineers precise, on-screen fault location across heating, ventilation, air conditioning refrigeration systems and electrical wiring. Fault-finding is the most time-intensive part of any HVAC call-out, and the most commercially sensitive. Whether it’s a refrigerant leak that has partially migrated, an underperforming heat exchanger, a poorly balanced duct system or a faulty contactor running hot inside a panel, the challenge is always the same: identifying the precise source quickly, without unnecessary dismantling, and with enough evidence to justify the repair to the customer. Traditional fault-finding methods like feeling pipework by hand, checking pressures at service ports, or isolating circuits one by one, are slow, often inconclusive, and leave the engineer with limited visual evidence to share with the customer or building manager. An experienced engineer working through an intermittent fault on a multi-zone system can lose an hour to tracing work that a thermal scan would resolve in minutes. The TC001 Max solves this by rendering heat distribution across any system as a live visual image, without contact. Blocked heat exchangers, poorly insulated pipework, overheating electrical contactors and air infiltration points in building fabric all produce distinct thermal signatures that become immediately visible on screen. Until recently, equipment capable of this level of sensitivity in a field environment cost several thousand pounds and was largely confined to specialist thermographic survey contractors. TOPDON has deliberately priced the TC001 Max to make thermal imaging a practical day-to-day tool rather than a specialist hire item. It connects directly to iOS, Android or Windows devices, using the engineer’s existing smartphone or tablet as its display, interface and storage platform. This removes the need for a dedicated screen and battery pack, which account for a significant portion of the cost of conventional handheld thermal cameras. The camera’s 256 × 192 infrared sensor is upscaled to 512 × 384 pixels through TOPDON’s TISR processing, giving resolution sufficient to distinguish temperature variation across individual components rather than broad surface areas. Thermal sensitivity of ≤40mK (NETD) means the camera picks up the small differentials that matter in HVAC and electrical diagnosis – a slightly cool section of refrigerant pipework, a marginally warm return air grille, or early-stage bearing heat in fan motor assemblies. A 25Hz refresh rate keeps the image fluid during live scanning. The key differentiator is the TC001 Max’s dual-lens design. Unlike single-sensor thermal cameras that produce a thermal-only image, the TC001 Max pairs its infrared sensor with a built-in visible light camera and electronically fuses the two into a single blended image. Five selectable fusion modes let the engineer dial between full thermal and full visible, with blended options in between, so component outlines remain sharp and identifiable even when scanning a densely packed plant room or electrical panel. In practice, this means an engineer can see exactly which valve body, terminal block or pipe joint is the source of a thermal anomaly. For building envelope surveys, where identifying the precise location of insulation voids or air infiltration paths is critical to a useful report, the fused image is particularly valuable. “HVAC engineers are under constant pressure to diagnose faster and document better,” said Oscar Diaz, CEO of TOPDON Europe. “The TC001 Max gives them a tool that does both. The fused imaging puts the fault location in the image itself, which speeds up the diagnosis and gives the engineer something concrete to show the customer.” The TC001 Max works with TOPDON’s TopInfrared (Mobile) and TopView (PC) applications across iOS, Android, and Windows, supporting thermal image capture, spot and area temperature measurement, isotherm analysis, and structured PDF report creation – including client-ready reports with annotated images and temperature readings suitable for handover to building managers or FM teams. When used alongside TOPDON’s TopFix AI, thermal findings can be cross-referenced against fault data to accelerate diagnosis and inform repair recommendations. Building, Design & Construction Magazine | The Choice of Industry Professionals
NFRC Celebrates Government’s Move to Ban Retentions and Overhaul Payment Law
NFRC (National Federation of Roofing Contractors) welcomes a landmark government announcement that will prohibit the use of retentions in construction contracts and deliver sweeping reforms to payment legislation. The announcement represents the most significant overhaul of the UK’s payment regime in over 25 years and will help to address the cash flow crisis that has long crippled NFRC members and other specialist contractors across the construction industry. NFRC Group CEO James Talman said, “This outcome is one our industry has been campaigning for years to achieve. “ “For too long, specialist contractors have been forced to operate under a system that allowed larger firms to withhold their money, delay payment, and use their cash as free working capital. “Today, the Government has shown that it has listened, and we could not be more pleased.” The measures will be subject to a two-year implementation period, and dependent on the parliamentary timetable. This gives industry time to prepare, while providing a clear and firm direction of travel. NFRC will work with our Members and government during this transition period to ensure the incoming legislation is appropriate and effective. We will also continue to advocate on behalf of Members who are exploited by the current laws, which are now conclusively recognised to be unfair. YEARS OF WORK, FINALLY REWARDED NFRC has been advocating for reform of payment practices and the abolition of retentions for nearly a decade. In 2021, NFRC estimated that £300 million of roofing and cladding subcontractors’ cash was held in retention at any one time. In 2023, 86% of NFRC Members reported difficulties recovering retention payments on local authority contracts. And in 2025, 80% of contractor Members said retentions were still affecting their business. NFRC has taken every opportunity possible to advertise these facts and advocate for reform. “Our Members are passionate about this issue, not just because it affects their bottom line, but because it affects their people, their livelihoods, and their ability to grow and deliver for the UK,” said Talman. “The hours our team and our Members have put into this consultation speak for themselves.” The UK has a critical need for housebuilding, retrofit, clean energy infrastructure, and public sector construction. None of these issues will be adequately tackled if the specialist contractors at the coal face are being strangled by cash flow problems. CREDIT WHERE DUE NFRC wishes to acknowledge the Department for Business and Trade for bringing these proposals forward with seriousness and urgency. The consultation process was well-designed, accessible, and genuinely engaged with industry. The government has listened to the evidence industry presented and acted on it. “We are grateful to the Department for Business and Trade for the rigour and openness they have brought to this process,” said Talman. “Good consultation deserves recognition, and today’s announcement is evidence of what happens when industry engages and government listens. “We also want to acknowledge the many industry partners, trade bodies, and our own Members who contributed to this collective effort. Special thanks to the CLC taskforce on this important topic headed by Steve Bratt.” The government has confirmed it will proceed with many of the measures proposed in the consultation, including: – Removing the ability to contract out of the statutory charge of 8% interest on late payment. – Boards or audit committees of persistently late-paying large companies will be required to publish explanations for poor payment performance and the actions they are taking to address it. – Banning retention clauses. Building, Design & Construction Magazine | The Choice of Industry Professionals
Ravenscraig Enterprise Park set to boost industrial growth in North Lanarkshire
A major new industrial development has been launched in North Lanarkshire, with Ravenscraig Enterprise Park officially brought to market by global real estate adviser CBRE on behalf of Fusion Assets Ltd. The first phase of the scheme will deliver 29,400 sq ft of industrial, business and storage space, addressing a long-standing imbalance where demand has continued to outstrip supply across the region. Craig Semple, director at CBRE Scotland, described the launch as a significant milestone for central Scotland. He noted that businesses have faced a persistent shortage of modern, high-quality premises, particularly those seeking well-located space to support growth. He explained that the development will not only help meet this demand, but also reflects growing confidence in the strength of the regional market. With strong infrastructure, excellent motorway connections and the flexibility to support a range of uses, the site is expected to attract interest from both regional and national occupiers. He added that construction is due to begin in March 2026, with the first units ready for occupation in the final quarter of the year. In total, the development will provide 62,400 sq ft across eight units, delivered over two phases, bringing much-needed new stock to the central Scotland industrial market. The project is being led by Fusion Assets Ltd, the property development and regeneration arm of North Lanarkshire Council. It is supported by £4.4 million in public funding from the Glasgow City Region City Deal and the Scottish Government’s Vacant and Derelict Land Fund. A further £6.8 million of City Deal funding has been allocated to support future commercial development at Ravenscraig and other sites across North Lanarkshire. Murray Collins, managing director of Fusion Assets Ltd, said the development builds on significant investment already made across the wider Ravenscraig site. He highlighted the company’s commitment to transforming brownfield land into high-quality commercial space that can support job creation and long-term economic growth. He also pointed to strong demand for modern industrial and commercial premises, underlining the importance of delivering new space quickly, with Ravenscraig playing a central role in those plans. Strategically located with direct access to the M74 and M8 motorways, the site offers excellent connectivity to key markets, labour pools and national transport networks, making it an attractive proposition for a wide range of businesses. CBRE anticipates strong interest from occupiers across both regional and national markets. Building, Design & Construction Magazine | The Choice of Industry Professionals