Canary Wharf set for record-breaking tower as JPMorgan secures key approvals
JPMorgan Chase is moving closer to delivering Canary Wharf’s tallest tower after overcoming critical height restrictions linked to nearby London City Airport, clearing a major hurdle for its proposed £3bn headquarters at Riverside South. The Wall Street banking giant is now preparing a planning application for a 265-metre skyscraper that will surpass One Canada Square, which has dominated the Docklands skyline at 235 metres for more than three decades. Designed by Foster + Partners, the scheme will deliver approximately 3 million sq ft of Grade A office space. The development is intended to consolidate JPMorgan’s existing London operations into a single hub capable of accommodating up to 12,000 staff, establishing its largest base across Europe, the Middle East and Africa. Flight path constraints had posed a significant challenge due to Canary Wharf’s position within the airport’s safeguarding zone. Aircraft approaching London City Airport follow a notably steep glide path, imposing strict limits on building heights across the estate. However, following negotiations, an agreement has been reached allowing the tower to rise to its proposed height while maintaining operational safety. The Riverside South site, owned by JPMorgan Chase since 2008, already benefits from existing foundations and basement structures. This could accelerate delivery timelines once planning consent is secured, with construction expected to take around six years. Canary Wharf Group will act as co-developer on the project. Economically, the scheme is expected to provide a substantial boost. Estimates suggest it could inject up to £9.9bn into the UK economy and support more than 7,800 jobs across construction and associated industries. However, questions remain סביב the role of government incentives in unlocking the project. JPMorgan is understood to have sought clarity over business rates liabilities, with discussions reportedly including potential discounts to support the investment. A report from Tower Hamlets council indicated the bank had requested a long-term business rates incentive, with government sources suggesting progress may depend on certainty around its future tax burden. The debate has drawn mixed reactions. While Chancellor Rachel Reeves described the development as a “multi-billion-pound vote of confidence” in the UK economy, critics have raised concerns over offering tax breaks to major corporations. Despite this, the project signals renewed momentum for Canary Wharf’s commercial market. A series of recent commitments, including expansions from major financial occupiers, point to a broader recovery in demand for large-scale office space in the Docklands. If approved, JPMorgan’s tower will not only redefine the area’s skyline but also reinforce Canary Wharf’s position as a leading global financial district, at a time when confidence in large office developments is returning. Building, Design & Construction Magazine | The Choice of Industry Professionals
Contractors circle £30m high-rise container storage project at London Gateway
Contractors are preparing to bid for a £30m landmark logistics project at London Gateway, where plans are advancing for a 12-storey automated container storage facility at the major Thames-side port. The scheme, known as BOXBAY, will deliver a next-generation, high-density storage system for empty containers within the port’s existing MT Park area in Thurrock. Once complete, the structure will rise to around 55 metres in height, with a footprint of approximately 323 metres by 159 metres, making it one of the most technically ambitious industrial buildings of its kind in the UK. Procurement for the project is now underway, with contractors invited to participate in a competitive flexible tender process. A shortlist of bidders will be selected before final submissions are assessed on a 60:40 split between price and quality, with contract award expected in July. Construction is scheduled to begin shortly afterwards, with a two-year delivery programme. The project presents a complex engineering challenge, combining heavy civil engineering works with a substantial structural steel package. More than 15,000 tonnes of steelwork will be required, alongside around 50,000 sq m of cladding and a 46,500 sq m roof. Groundworks will also be extensive, involving the installation of over 5,000 precast piles, each approximately 28 metres in length, to support a 1.2 metre deep reinforced concrete raft foundation. The contractor will additionally deliver a full suite of infrastructure works, including drainage, power, firewater systems, IT networks and heavy-duty external pavements, as well as associated ancillary structures. A defining feature of the development will be its integration of advanced automation. The building will house 15 automated storage and retrieval machines operating along around 3km of rail, although the specialist systems themselves will be supplied separately. One of the key challenges will be delivering the project within a fully operational port environment. This will require careful sequencing, logistics planning and strict safety management to ensure ongoing terminal operations are not disrupted. The BOXBAY system is designed to significantly increase storage density and improve operational efficiency compared with traditional container stacking methods, helping to reduce congestion and maximise the use of available land. The project forms part of wider ongoing investment at London Gateway, reinforcing its position as one of the UK’s most advanced logistics and port infrastructure hubs, and highlighting the growing role of high-specification, automated industrial facilities in modern supply chains. Building, Design & Construction Magazine | The Choice of Industry Professionals
Last Mile secures major multi-utility contract for landmark 6500 home airfield redevelopment
Last Mile will help bring 6,500 new homes, five schools, and a range of commercial premises to the Waterbeach redevelopment in Cambridgeshire. UKPS, now Last Mile, was appointed by Urban & Civic Plc to design, build, and manage utility services at Waterbeach. This includes one of the UK’s single largest water network adoptions under the New Appointment and Variations (NAV) programme. The company will replace the incumbent, Staffordshire Water, taking ownership and responsibility for the clean water infrastructure at the development. In total, the contract encompasses the delivery of: Paul Betts, Senior Project Manager for Urban & Civic said, “Working with flexible, forward‑thinking partners is key to bringing large-scale strategic sites like Waterbeach to life. Last Mile’s joined‑up approach will help us keep things moving, making sure the essential services and infrastructure are ready to support our growing community from day one.” The new community is an ambitious redevelopment of the former Waterbeach Barracks, a WW2 RAF Bomber Command airfield. It is partially funded by a £61 million investment from Homes England, the government’s housing accelerator and regeneration agency. The transformative site aligns with national sustainability goals, aimed at supporting biodiversity and tackling climate change. It will feature low-energy homes equipped with EV chargers and air-source heat pumps, incorporate recycled materials during construction, deliver significant biodiversity net-gain, and reduce car dependency through over 20km of active travel infrastructure. “We’re delighted to support this visionary development which will create a sustainable, well-connected community for thousands of families,” said Craig Boath, managing director at Last Mile, Design and Build. “It’s a prime example of how electricity, water and fibre services from a single provider bring significant efficiency and cost benefits to developers. And how independent providers, such as NAVs and independent distribution network operators (IDNOs), can speed up house building to meet our important national and regional targets.” Following the government’s reform to planning permissions and Plan for Change target of building 1.5 million new homes over five years, the joint housing target for South Cambridgeshire and Cambridge City was increased by one-third to 2,309 homes annually. Last Mile’s project comprises the western portion of the total Waterbeach site, which was identified in the South Cambridgeshire Local Plan as a new town capable of bringing 11,000 homes to the area. Planning permission for the further 4,500 homes was granted in December 2024. Last Mile Asset Management will manage the infrastructure adoption process for the multi-utility network as it progresses. Building, Design & Construction Magazine | The Choice of Industry Professionals
Newmark Acts as Sole Adviser to Bodycare as the Revitalised Brand Accelerates National Retail Expansion
Newmark, acting as sole adviser to value health and beauty brand Bodycare, has secured leases for six new retail locations in the UK as the business returns to the high street with a newly curated offering following its acquisition from administration in October 2025. The six exchanged stores are located in Merry Hill in Dudley, Derbion in Derby, The Moor in Sheffield, Highcross in Leicester, The Mall in Blackburn and St Johns in Leeds, and were selected due to their strong sales performance under the brand’s previous ownership. Executive Managing Director David Purslow and Surveyor Jake Blackwell of Newmark are advising Bodycare. To support the brand’s rapid growth, Newmark is delivering a capital-efficient property strategy which prioritises best-in-class locations and pace of execution, with lease terms negotiated to protect long-term performance as the portfolio grows. The acquisition of Bodycare marked the relaunch of the much-loved heritage brand in line with modern consumer expectations and enabled a full operational restart. An additional 19 stores are planned to open by the end of 2026, with the longer-term ambition for over 200 stores nationwide. The first 25 stores are set to launch under the new experiential ‘Bodycare Studio’ format with stores configured to drive discovery and encourage repeat visits while staying true to the brand’s core ethos of providing accessible beauty products. ‘Bodycare Studio’ additionally blends content and commerce via in-store demonstration zones, feature screens, live broadcast studios and dedicated creator spaces to complement the brand’s digital-first strategy and strong social media presence. The in-store concept is supported by a broader platform strategy focused on building local customer communities and strengthening operational performance. David Stern, Managing Director at Bodycare, said: “Since the acquisition of Bodycare, the team has reimagined both the in-store experience and the brand’s digital presence. The response from the industry to date has reinforced our confidence to scale quickly and we are looking forward to welcoming customers back as soon as possible. Newmark has been instrumental in supporting us in our ambitious vision.” Purslow, Executive Managing Director at Newmark, said: “Bodycare is executing a compelling retail strategy – moving at pace but with clear direction and a disciplined approach which sets it up for success. Our priority is to ensure the property strategy underpins the brand’s momentum as it scales nationally.” The instruction reinforces Newmark’s position as a trusted advisor to growth-focused retail and consumer brands, partnering with businesses at pivotal moments of expansion and transformation. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark. Discussion of Forward-Looking Statements about Newmark Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. Building, Design & Construction Magazine | The Choice of Industry Professionals
Metrocentre partners with Gateshead Council on major riverside regeneration scheme
Metrocentre has entered into an agreement with Gateshead Council to bring forward Metro Riverside, a large-scale mixed-use development set to transform brownfield land along the south bank of the River Tyne. Located around three miles west of Newcastle-Gateshead city centre, the project will regenerate under-utilised land surrounding Metrocentre, creating a new urban neighbourhood comprising up to 4,500 homes alongside improved infrastructure, public spaces and leisure amenities. The scheme is being designed as a walkable, well-connected destination, with a focus on creating compact neighbourhoods that prioritise accessibility and strong links to public transport. The ambition is to establish a high-quality waterfront environment that supports both residential and economic growth. Metro Riverside has been identified as a key housing-led regeneration project within the North East Combined Authority’s Local Growth Plan, as well as forming part of the Strategic Place Partnership with Homes England, aimed at accelerating the delivery of new homes across the region. A central element of the development will be the evolution of Metrocentre itself, with plans to reposition the retail destination to better serve the day-to-day needs of a growing local population, while continuing to attract visitors from across the North East. The agreement highlights the importance of long-term collaboration between the public and private sectors in delivering complex regeneration projects at scale. By aligning investment, planning and delivery strategies, the partners aim to unlock a new phase of growth for the area. Martin Healy, chair of Metrocentre, said the scheme demonstrates how coordinated partnerships can drive meaningful change, bringing together investment and local leadership to create a sustainable urban community. The project is expected to deliver a mix of residential, commercial and leisure uses, supporting job creation and long-term economic activity, while reinforcing Metrocentre’s role as a key regional destination. Building, Design & Construction Magazine | The Choice of Industry Professionals
UK Construction Activity Collapses
Glenigan’s April Construction Index uncovers an industry struggling to cushion the blows from ongoing international conflict and a persistently weak economy. Glenigan releases the April 2026 edition of its Construction Index. The Index focuses on the three months to the end of March 2026, covering all underlying projects, with a total value of £100m 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. April’s Index highlights the serious challenges facing the UK construction sector, which seem to be relentless. The industry remains in the tight grip of decline which, if not terminal, is having a deeply damaging effect, pushing its resilience to a breaking point. A phenomenal series of socioeconomic events and foreign policy decisions have resulted in a severely disrupted supply chain and unprecedented market volatility. It all comes as yet another hammer blow falling on contractors and subcontractors alike; stalling activity, flattening margins and denting profits. The US-Israel/Iran War started at the end of February and shows no sign of coming to an end any time soon, resulting in considerable uncertainty that’s set to keep sector performance subdued. Whilst some of the negative effects are being felt in the here and now, the expected aftershock of the continued closure of the Strait of Hormuz, alongside the increasing threats posed to the Suez Canal and Red Sea, mean disruption is predicted to continue through Q2 and Q3 2026. Amid this maelstrom, new projects commencing in the coming months are expected to be impacted. This comes after work starting on site fell once again, particularly when seasonally adjusted, dropping by 17% compared to Q4 to finish almost a fifth (-18%) below 2025 levels. Residential construction tumbled yet again, as international conflict, persisting confusion around planning policy and a weak economy continue to hinder development. Ice-cold investors and apprehensive potential buyers are keeping their hands firmly in their pockets for the time being. For Non-Residential, Offices remained a strong outlier, posting impressive project-start increases compared to both the previous quarter and last year. However, these impressive figures were not nearly enough to outweigh overall disappointment in these verticals, with civils tanking against both periods covered by the Index. Commenting on the April Index, Glenigan’s Allan Wilen says, “Superficially, looks can be deceiving. A seasonal rise during the first quarter is masking a renewed weakening in project starts. All three main verticals: housing, non-residential buildings and civil engineering are considerably lower than a year ago and on the previous quarter on a seasonally adjusted basis. He continues, “The sector is fighting on all fronts, home and abroad. Particularly, the Iran War will depress activity further near-term as private developers and house purchasers delay investment decisions due to fears of higher than anticipated interest rates, rising material costs, spiralling energy costs and stalled economic growth. It will have a knock-on effect on the non-residential verticals which, although many have ring-fenced funding, will no doubt be putting activity on hold to ensure they don’t waste budgets whilst rates spike.” Taking a closer look at the sectors, verticals and regions… Sector Analysis – Residential As above, Residential experienced a particularly poor period, according to Glenigan’s figures. Project-starts declined by13% on the preceding three months and by almost a third (-30%) on 2025. Drilling a little deeper, private housing construction-starts declined by 9% against the preceding three months and by 34% against the previous year. Social Housing starts were similarly depressed, dropping by roughly a quarter (-24%) against the preceding three months and by 16% against the previous year. Sector Analysis – Non-Residential According to Glenigan’s data, Offices were the only vertical to experience a growth spurt compared to the previous quarter, up 37%, to stand over two-thirds (+67%) above 2025 levels. This uptick in activity was primarily supported by the £50 million 105 Old Broad Street office development in the City of London. The only other vertical to increase against the previous quarter was Retail, which rose 12% against the preceding three months. However, this modest leap wasn’t enough to bring it above last year’s results, falling 17% by comparison. Hotel & Leisure and Education had a mixed period, with both falling by around a quarter (-25% and -24% respectively) compared to the previous quarter. However, both finished up when measured against last year, rising 1% and 23% respectively. Elsewhere, performance plummeted. Industrial experienced an especially lacklustre period, nosediving by 36% against the preceding three months to stand 31% below the previous year. Likewise, Health declined 16% against the preceding three months to stand 13% lower than the previous year. Community and Amenity project-starts, which have recently posted positive results are now in recession, falling by 37% against the preceding three months to stand 10% down against the previous year. Sector Analysis – Civils The bottom fell out of Civils, with work starting on-site cascading 37% against the preceding three months and falling 34% against the previous year. Breaking it down, Infrastructure work starting on-site declined 32% against the preceding three months and declined by 37% on the previous year. Similarly, Utilities declined 42% against the preceding three months and by 30% against the previous year. The Regional Outlook According to Glenigan’s regional data, the performance picture was inconsistent. Once again, London was the stand out performer, experiencing a strong performance, rising 26% against the preceding three months to stand 69% up against the previous year. This was underpinned by a strong performance from the Office sector, which helped drive growth in the region. It was more of a mixed bag for some of the regions. Northern Ireland experienced a mixed performance, dipping 2% against the preceding three months to finish 37% up against the previous year. The North East performed similarly, dropping 27% against the preceding three months to stand