Verdion and L&G set to deliver £30m urban logistics scheme in Woolwich
Verdion has joined forces with Legal & General’s Industrial Property Investment Fund (IPIF) to secure a prime urban logistics development site in the West Thamesmead Opportunity Area, marking the first collaboration between the two organisations. The 2.6-acre brownfield plot on Nathan Way, within the West Thamesmead/Plumstead Industrial Area and designated Strategic Industrial Location, has a gross development value of £30m. Verdion will lead the development, while L&G will take ownership of the completed asset. Plans are in place for a speculative urban logistics scheme delivering 78,987 sq ft of new industrial floorspace across six small and mid-box units, ranging from 7,500 sq ft to 18,000 sq ft. The scheme is targeting BREEAM Excellent and A-plus energy performance certification, with a strong emphasis on whole-life carbon reduction, energy efficiency, biodiversity enhancements and responsible supply chain practices. Mark Garrity, UK development director at Verdion, said the acquisition represented an important milestone in the company’s UK strategy. He highlighted the site’s strong Thamesmead location and the increasing appeal of inner South East London for logistics operators. Garrity added that the masterplan had been shaped to support a wide variety of occupiers, anticipating demand from both businesses displaced by redevelopment elsewhere in London and new entrants drawn by improved transport links. Verdion expects the scheme to complete in the second quarter of 2027. Matt Lilley, assistant fund manager of IPIF and head of industrial development strategies at L&G, said the Nathan Way acquisition aligned with their strategy of investing in fast-growing industrial sub-sectors such as urban logistics. He emphasised the opportunity to embed net-zero-carbon principles from the outset, helping to create a future-proofed, high-quality asset in an undersupplied London market. The partnership signals a strong commitment to sustainable industrial growth and further strengthens the area’s role as a key logistics location in the capital. Building, Design & Construction Magazine | The Choice of Industry Professionals
Full Steam Ahead! UK Construction to return to growth in 2026
Construction intelligence specialists predict renewed activity following false-start over the summer. Today, Glenigan | powered by Hubexo, one of the construction industry’s leading insight and intelligence experts, releases its widely anticipated UK Construction Industry Autumn Forecast 2026-2027. Predominantly focused on underlying starts (<£100m in value), unless otherwise stated, it contains a comprehensive overview of the future of the construction industry. The key takeaway from the Autumn Forecast, which focuses on the two years 2026-2027, is that, despite the aggressive geopolitical and socioeconomic headwinds which have picked up during Q.3 and Q.4 this year, the sector is still on course for recovery in 2026 and 2027. A Show of Strength Growth has been re-forecast. Following a period of international turbulence and domestic uncertainty, 2025 and 2026 figures have been revised down, with the former now in negative numbers (-6%) and the latter adjusted down a couple of percent since the spring (+8%). However, these relatively disappointing results are offset by predictions for 2027, where Glenigan’s Economic Unit foresee a 13% activity boost. Whilst the industry will be frustrated that a reversal of fortune will not come as quickly as thought back in May/June 2025, there will be a collective sigh of relief that the negative impact of international conflict, trade wars and policy speculation has not done more damage. Overall, the UK construction sector has done well to weather what has become a persistent storm, punctuated by aggressive peaks and troughs in activity, and is positioning itself to kickstart activity following next week’s Budget. Positive signals are making themselves heard within a variety of different quarters, with certain ‘verticals to watch’ emerging from amongst the present gloom. An atmosphere of anticipation The Glenigan Economics Unit foresees a rise in both private and public sector starts, with residential construction returning to positive figures after a blip over the summer and autumn of 2025. Likewise, the golden period experienced within the commercial office space over Q.3 and Q.4 is likely to continue into next year as more refurbishment work comes online. Equally, as consumer confidence (hopefully) resurges following the Chancellor’s upcoming Budget, we’ll see an uptick in discretionary spending, catalysing a boost for industrial projects as online shopping increases and more logistics and warehouse facilities are required. Hotel & leisure will also likely benefit as improved confidence and a rise in disposable income boosts consumers’ discretionary spending. In the public space, the Government will be hoping to kickstart a number of capital projects, especially around renewables, as well as deliver on its social housing commitments and promised increases in funding for health and education. More broadly, a renewed commitment to delivering Net Zero across state-owned assets by 2050 will present ample opportunity for contractors and subcontractors to seize on. Accordingly, Glenigan’s Economic Director, Allan Wilen says, “As with any Forecasts, it’s difficult to foresee unpredicted and spontaneous political and economic issues until they suddenly land, often completely changing the situation. The ‘will they/won’t they’ attitude that the professional and consumer landscape has taken towards trailed Government policy has done nothing to inspire confidence in the latter part of 2025. This is borne out by the dramatic performance decreases we’ve seen across our own Indexes since the summer, dashing any hopes of recovery by the end of this year. “However, the Chancellor has a real opportunity within this Budget to rebalance the situation and ensure that a kick-start into 2026 is not the false start we witnessed in the Spring of this year. There are some very encouraging signs already across different verticals and it will be up to the industry to take advantage of them and, in some cases, that might mean diversifying to meet more niche demands around low-carbon construction and commercial fit-out or even different building approaches and services; for example, addressing the changing needs of an ageing population. So, whilst we’re experiencing short-term struggles, we’re still confident of a brighter long-term picture.” **** Taking a more detailed look at the Forecast… Private Residential: Housing Market Holds Firm Following a very positive outlook predicted in June, figures have been reassessed, following a softening in market confidence and a drop in property transactions during Q.2/Q.3 2025. The initial rise in private housing starts during the first four months of 2025 proved short-lived. Following April’s stamp duty increase, starts fell back during the second half of the year. Apartment projects were especially weak as slow building safety regulator (BSR) approval delayed project starts. However, despite these setbacks, housing market activity has been broadly stable during the second half of the year. This has been supported by rising household incomes, with the number of mortgage approvals for house purchases close to their pre-pandemic average. The outlook remains positive. Stronger economic growth is expected to lift housing market activity over the next two years. Rising real incomes and further interest rate cuts are expected to lift house-buyers’ confidence from 2026. Furthermore, supply-side restraints are also expected to ease as the BSR reduces the backlog of projects awaiting approval, and planning reforms are expected to help release additional sites for development, supporting sector growth during the latter stages of the forecast. Private Non-Residential Verticals: A wealth of opportunity awaits Renewed growth is anticipated in 2026 and 2027, despite many verticals slipping back during 2025. Whilst the industrial sector suffered from a drop in manufacturing projects, this was offset by a spurt in warehousing starts. This growth neatly anticipates higher consumer spending and sustainable increases for this type of project. This, in turn, will likely see further demand for logistics and light industrial space from online retailers and third-party carriers. However, bricks and mortar retail will be slower to recover as operators face increased cost pressures from NI increases and the rise in the minimum wage. An overhang of empty retail premises is also deterring investment in new premises. Although, in the spirit of adapting to survive, this situation may also prompt landlords to refresh and repurpose existing excess retail space. As ever, supermarkets remain a
Ikea caps landmark year with first Northern Ireland outlet at The Boulevard
Ikea has chosen The Boulevard in Banbridge for its first-ever outlet store in Northern Ireland, rounding off a landmark year of expansion for Ikea UK & Ireland. The 2,691 sq ft pop-up store, which will trade until spring 2026, is designed as a convenient hub for planning services, home furnishings and online order pick-ups. Customers can explore a curated selection of 150 home furnishing accessories across kitchen, bedroom and living spaces, with Ikea co-workers on hand to offer product advice and support with home projects. A key feature of the new outlet is its “Collect Near You” point, enabling shoppers to have online orders delivered to The Boulevard for easy collection. This service complements existing collection locations in Ballymena, Limavady and Dungannon, strengthening Ikea’s footprint across Northern Ireland and making it easier for customers to access the full range without travelling to a larger store. The Banbridge opening comes at the end of a busy 2025 for Ikea in the UK and Ireland, as the retailer continues to roll out smaller, more flexible formats closer to where people live and work. This year has seen the launch of a city store on London’s Oxford Street, new city and smaller-format stores in Brighton, Harlow, Norwich and Chester, as well as “Plan and Order” points in Dundee, Hull and York. Together, these locations form a key part of Ikea’s strategy to blend traditional out-of-town stores with compact formats, planning studios and collection points in high street and regional centres. Alastair Coulson, managing director at Lotus Property, owner of The Boulevard, said he was delighted to welcome Ikea’s first pop-up initiative in Northern Ireland. He described the arrival of the global home furnishings brand as a strong endorsement of The Boulevard’s growing reputation for attracting “first” and “only” locations, and a timely boost as the scheme gears up for the Christmas trading period. With the Banbridge outlet now open, Ikea is signalling its commitment to meeting customers where they are, using a mix of store formats and collection points to offer greater choice, convenience and flexibility across the UK and Ireland. Building, Design & Construction Magazine | The Choice of Industry Professionals
Luton’s ‘Stage’ Set for £136m Town Centre Transformation
Willmott Dixon has secured Gateway 2 approval from the Building Safety Regulator, paving the way for a £136m regeneration of Luton town centre. Known as The Stage, the flagship scheme will be delivered through the Southern Construction Framework and will transform the former Bute Street Shoppers car park into a vibrant mixed-use neighbourhood. The plans include 292 new homes, ground-floor commercial space, a multi-purpose food and events venue, and a new public garden square designed to act as a focal point for the community. Supported by £20m from the Government’s Local Regeneration Fund, The Stage is a key component of Luton’s town centre masterplan. The project aims to boost footfall, attract new businesses and create a more welcoming environment for residents, visitors and commuters. Sustainability and placemaking sit at the heart of the design. The development will incorporate photovoltaic panels, upgraded insulation and high-performance building fabric to improve energy efficiency. New landscaped spaces will be structured around sustainable drainage systems and biodiverse planting, helping to manage surface water while enhancing the local environment. Located beside the rail station and bus interchange, The Stage occupies one of the most accessible locations in the town. The scheme is intended to make better use of this gateway site, encouraging sustainable travel and supporting the wider regeneration of the surrounding area. Stewart Brundell, chief operating officer at Willmott Dixon’s construction business, said the project represented exactly the kind of comprehensive town centre renewal needed to revitalise urban areas and deliver long-term benefits for local communities. The Luton scheme adds to Willmott Dixon’s growing portfolio of large-scale regeneration projects, which includes the Queen Mary University School of Business and Management redevelopment, the Barnes Hospital regeneration and Oldham’s 450,000 sq ft Spindles Town Square upgrade. Willmott Dixon will deliver The Stage in partnership with Rider Levett Bucknall and WSP. Building, Design & Construction Magazine | The Choice of Industry Professionals
Henry Boot Construction appointed to deliver new energy-efficient homes in Chesterfield
Henry Boot Construction has been appointed by Chesterfield Borough Council to deliver 18 brand-new energy-efficient homes in Mastin Moor, marking a key step in the council’s commitment to expanding its affordable housing supply. Work is now underway on site. This project marks one of the first housing developments to be supported by the East Midlands Combined County Authority’s (EMCCA) Brownfield Housing Fund. This initiative, funded by the Ministry for Housing, Communities and Local Government and delivered in partnership with Homes England, will unlock stalled residential developments and breathe new life into under-used land across the region. The development will see 13 new council homes built on Miller Avenue, whilst a further five houses will also be constructed on Edale Road. In total, Henry Boot Construction will deliver seven four-bedroom homes and eleven two-bedroom homes, all allocated to families on the council’s housing register. Each home is designed to achieve A-rated energy performance, with sustainability measures built in from the start of construction. Solar PV panels and air-source heat pumps will be installed across all plots, helping reduce running costs for future tenants and reducing carbon emissions across the borough. External works will provide private gardens and off-road parking for residents, while both locations are situated close to public transport routes for easy access to local services. Additional environmental features include bat and bird boxes on every plot and electric vehicle charging points. Mat Clarke, Head of Construction at Henry Boot Construction, said: “We’re proud to be supporting Chesterfield Borough Council in its mission to deliver affordable, energy-efficient homes for families across the borough. “It’s great for us to be back in Chesterfield after recently working with the council on its largest housing development in decades at Badger Croft, and we’re delighted to continue playing our part in increasing the local housing supply.” Councillor Jean Innes, Chesterfield Borough Council’s cabinet member for housing, said: “As a council, we remain committed to increasing the supply of affordable housing for local people and this latest project is helping us to achieve this. “We are really pleased that EMCCA has allocated part of its Brownfield Housing Fund to help deliver this project that will provide much needed homes for local families. We look forward to working with EMCCA and Henry Boot Construction and watching the project progress. “With the cost of living continuing to rise, we know how important it is to our tenants to keep homes warm but energy costs down, so we’re really pleased to be delivering new properties with the top energy efficiency rating.” To mark the start of the project, Mayor of the East Midlands, Claire Ward, joined the Leader of Chesterfield Borough Council, Councillor Tricia Gilby, and the council’s cabinet member for housing, Councillor Jean Innes for a site visit hosted by Henry Boot Construction. Mayor of the East Midlands, Claire Ward, said: “This project is a powerful example of how we’re turning our vision for inclusive growth into reality. Through the Brownfield Housing Fund, we’re creating high-quality, affordable homes that meet the needs of local families while supporting greener, more sustainable communities. By investing in places like Mastin Moor, we’re making the East Midlands a region that everyone is proud to call home.” EMCCA has secured a devolved allocation of Brownfield Housing Fund investment from the UK Government to support the delivery of housing on brownfield sites in the East Midlands. The funding commitment will deliver more than 2,000 high-quality homes, supporting Mayor Claire Ward’s ambition to build 100,000 new homes in the region by 2035. Building, Design & Construction Magazine | The Choice of Industry Professionals
Chalegrove Properties unveils new duplex penthouses at One Thames Quay
Chalegrove Properties (CPL) has revealed two new duplex penthouses at One Thames Quay, the recently completed residential landmark on South Quay in Canary Wharf. Positioned on the 47th and 48th floors, the penthouses—named The Merchant and The Mariner—take inspiration from the Docklands’ maritime heritage and offer expansive views across London’s skyline. The two homes have been designed to reflect the landscape and character of their surroundings. Both feature double-height balconies and floor-to-ceiling glazing that frame views across Canary Wharf, the River Thames and the wider city. Inside, the residences include refined herringbone flooring, contemporary integrated kitchens and energy-efficient heating and cooling systems. Facing Canary Wharf is The Merchant, a fully dressed penthouse now open for private viewings. Its design draws on the area’s transformation from an 1800s trade hub handling goods such as sugar and spices into the global business district it is today. Split across two levels, the home features an open-plan kitchen, living and dining area with a corner balcony on the lower floor, and two en-suite bedrooms arranged on the upper floor in a calm, neutral palette that mirrors the surrounding towers. The Mariner, an east-facing apartment, offers sweeping views over the O2 Arena, the Greenwich Peninsula and the Thames as it curves toward the sea. Designed with subtle nautical influences and blue and bronze accents, this light-filled home features two generous bedroom suites, a bright open-plan living space and a private balcony. Residents of One Thames Quay also have access to the newly completed lifestyle amenities located just below the penthouses. These include a 5,795 sq ft indoor–outdoor garden space, a sky lounge and bar, co-working areas, a private dining room and a sky gym fitted with Technogym equipment. Further facilities on the second floor include a canopy garden, children’s play area, a bookable bowling alley, games room and media lounge. Rami Atallah, Director at Chalegrove Properties, said the penthouses represent the most exclusive homes within the development, combining panoramic views with high-quality facilities and sustainable design principles. Each residence incorporates integrated zero-fossil-fuel heating and cooling, triple glazing and rainwater harvesting systems to support long-term energy efficiency. Residents also benefit from a five-star concierge service, 24-hour security and secure parcel management. Situated moments from the shops, restaurants and leisure offerings of Wood Wharf and the wider Canary Wharf estate, One Thames Quay is well connected, with the DLR, Underground and Elizabeth Line all within walking distance. Travel to key locations across London—including Heathrow and London City Airport—is achievable in under 40 minutes. Building, Design & Construction Magazine | The Choice of Industry Professionals