Pound’s Park in Sheffield city centre is quickly taking shape with the installation of a new children’s play area this month. Heralded as the flagship green space in Sheffield City Council’s Heart of the City development scheme, Pound’s Park will be located on the former fire station site between Rockingham
The launch of HS2’s giant tunnel boring machine, which set off on its five-mile journey from West Ruislip to Greenford on 6th October, has sparked new training and employment opportunities for residents in seven London boroughs. HS2’s construction partner, Skanska Costain STRABAG (SCS), is working in partnership with Danny Sullivan
Global Student Accommodation (GSA), the global leader in student housing, and leading UK Design & Build construction company, McAleer & Rushe have celebrated the ‘topping out’ of student housing scheme St Crispin’s House, Norwich. The construction milestone signifies the installation of the final piece of the structure of the building.
Ordering and purchasing products online have become the norm in recent years. While brick-and-mortar stores continue to attract buyers, the shift of preference is hard to miss. The drastic change in consumer behavior may be attributed to the rise of mobile technology, though the advantages offered by virtual shopping could
nvesting in commercial real estate can be a life-changing experience. Not only do you get the chance to build up capital, but you also get to learn about an industry that’s vital to economics. If you’re interested in this lucrative real estate sector, there are a few things you should
Within the world of construction, there are a great variety of roles, industries, and businesses that are thriving. For anybody that’s looking into the most profitable ventures within the construction industry, either as an entrepreneur or as a worker, it’s important to look at the industry as a whole and
Commitment to increase delivery of the number of truly affordable homes in the pipeline by 160 to at least 1,362 council homes for social rent 84 homes previously planned for private sale in regeneration schemes on 300 Harrow Road and Westmead in Westbourne Park will now be council homes Council leads the way
Tritax Management LLP (“Tritax”), the specialist investor in critical supply chain real assets, today announced that all of its funds under management achieved improved GRESB scores, the global ESG benchmark for real estate and infrastructure, whilst its two listed funds were also awarded EPRA Gold Level certification. Highlights from the
Berkeley Group was awarded the Carbon Reduction Award at the 2022 National Sustainability Awards in October. The cross-sector awards, from The Better Society Network, celebrate ‘the pioneers of sustainability’ across the UK. The Carbon Reduction Award recognises Berkeley’s ambitious, holistic climate action strategy including solutions to cut carbon emissions – creating
Constructing Excellence South West’s CEO has been crowned the winner of an incredible regional property and construction award. Andrew Carpenter has been voted the Property Personality of the Year at the 2022 South West Property Awards. Returning for the fifteenth consecutive year, the awards recognise outstanding achievements of the people,
Pound’s Park in Sheffield city centre is quickly taking shape with the installation of a new children’s play area this month. Heralded as the flagship green space in Sheffield City Council’s Heart of the City development scheme, Pound’s Park will be located on the former fire station site between Rockingham Street, Wellington Street and Carver Street. The park will provide an attractive, safe and fully accessible destination that adds a mix of experiences for playing, relaxing and socialising. To help attract more families into the city centre and encourage them to stay for longer periods of time, a high-quality playground is located at the heart of the plans. It will feature two large pyramid towers – with the tallest standing at 11 metres, stainless steel slides, climbing structures, playhouses, seesaw, wheelchair-accessible play equipment and much, much more. A long water channel dotted with multiple dams and interactive play elements will also flow between the Pyramid Towers and across the site. The playground will offer fully inclusive play, with a sand-play platform for wheelchair users, accessible points for children to engage with the water pumps, and various touch and sound sensory items to be explored. Sympathetically designed to complement the city centre’s other key outdoor spaces, the playground is handcrafted predominantly using Mountain Larch – a durable wood that can withstand decades of harsh climates. Working alongside the Council’s landscape architects and Henry Boot Construction, Sheffield-based playground specialists, Timberplay, are carrying out the installation work throughout October. The family-run firm has over 20 years of experience, having installed the celebrated Princess Diana Memorial Playground in London, as well as local projects at Meadowhall Shopping Centre and Heeley People’s Park. Paul Collings, Owner and Managing Director of Timberplay, said: “Everyone at Timberplay is extremely proud to be involved in such a landmark project for Sheffield City Centre and one that is very important to us all, as a local company. It is amazing to see Sheffield City Council invest in creating such an incredible green space that uses high-quality, sustainable and natural materials throughout. “Working alongside the Council and Henry Boot Construction has been a pleasure from design through to the current installation. We would like to commend Sheffield City Council for their innovative thinking on reimagining our city centre in these rapidly changing times, with shopping habits and living choices in such a state of flux. We cannot wait to see the park open and see children having fun in what we believe will be a world-class facility for the people of Sheffield.” Pound’s Park will also boast an impressive three-by-eight-metre climbing boulder, which was installed earlier this year and continues the space’s emphasis on public play and interaction. Councillor Mazher Iqbal, Co-Chair Transport, Regeneration and Climate Policy Committee, Sheffield City Council, said: “We are continuing to develop truly unique and high-quality public and green spaces in the city centre, bringing The Outdoor City ethos right into the heart of Sheffield. “It’s exciting to see the large play park going up. We know how hugely popular the Peace Gardens are and Pound’s Park will provide us with another world class focal point for families to enjoy. It will also prioritise pedestrians and cyclists, increase biodiversity and help support the physical and mental wellbeing of city centre visitors, workers and residents.” Tony Shaw, Managing Director at Henry Boot Construction – the park’s overarching construction contractor, added: “With more people choosing to live and work in the city centre, we understand the importance that public spaces and green landscaping play in enhancing people’s experiences and wellbeing. This is especially true for families with young children. So, as a local company ourselves, it’s been great to work with Timberplay and see their exciting playground design come to life.” Named after Sheffield’s first Chief Fire Officer, Superintendent John Charles Pound, Pound’s Park is being funded by the South Yorkshire Mayoral Combined Authority through the Government’s Getting Building Fund. Work on the park is expected to complete early in 2023.
The launch of HS2’s giant tunnel boring machine, which set off on its five-mile journey from West Ruislip to Greenford on 6th October, has sparked new training and employment opportunities for residents in seven London boroughs. HS2’s construction partner, Skanska Costain STRABAG (SCS), is working in partnership with Danny Sullivan Group, Camden Council and TheForge@ParkRoyal (part of the Old Oak and Park Royal Development Corporation) to deliver a bespoke training and work placement programme especially for residents who live in Brent, Camden, Ealing, Hammersmith and Fulham, Hillingdon, Kensington and Chelsea and Westminster. The three-week training programme, delivered with West London College and United Colleges Group, starts on 24th October and will be followed by a four-week paid work placement, to enable candidates to get a feel for what it’s like to work in construction, and as part of the team operating the giant 2,000 tonne machines. During its construction programme SCS will launch five more tunnel boring machines, creating a total of 26 miles of tunnel beneath the capital, ready to transport HS2’s state of the art British-built bullet-style trains into the terminus station at Euston. Ambrose Quashie, HS2’s Skills Manager for Greater London said: “We’re teaming up with some brilliant partners, as we know they are well placed to ensure that local people, who are most in need, benefit from these unique training and employment opportunities on HS2.” “Tunnelling is a highly-skilled career for life, and this is a fantastic opportunity to join the team tasked with constructing some of the most challenging sections of the whole HS2 route.” The training programme will prepare candidates for their four-week paid work placement. They’ll gain the vital construction and health and safety accreditation they need to begin working alongside and learning from some of the most experienced engineers in the industry. Skanska Costain STRABAG contractor, Danny Sullivan Group, will be looking for standout candidates throughout the programme and will invest in providing tunnelling operative apprenticeships to those eager to earn, learn and progress into this specialist engineering role. Frankie Jones, Skills Employment and Education Manager at Skanska Costain STRABAG Joint Venture said: “HS2 is a project for future generations, and this extends to inspiring the next generation of the future stars in our industry. It is great to be able to offer a unique opportunity for people to get involved in tunnelling, whilst learning about our programme of construction and helping us construct the railway.” Camden Council and TheForge@ParkRoyal will play a vital role in supporting local residents who are out of work, and live in one for the seven qualifying boroughs, with their job applications. This forms part of an ongoing ‘job brokerage’ partnership with HS2, which is designed to ensure that local people benefit from the thousands of employment opportunities HS2’s construction is creating. Billy Seago, Manager at TheForge@ParkRoyal said: “We’re excited to join HS2, SCS and wider partners to deliver this important training opportunity. The training programme offers a fantastic opportunity for residents to gain skills to be an important part of a ground-breaking project like HS2, while also being paid.” “TheForge @ParkRoyal has already placed more than 150 west Londoners into training and employment and we encourage residents to consider this opportunity and get in touch with us to find out more.” For more information about the programme, contact Camden’s Council’s King’s Cross Construction Skills Centre or TheForge@ParkRoyal.
Global Student Accommodation (GSA), the global leader in student housing, and leading UK Design & Build construction company, McAleer & Rushe have celebrated the ‘topping out’ of student housing scheme St Crispin’s House, Norwich. The construction milestone signifies the installation of the final piece of the structure of the building. Originally a 1970’s office block, St Crispin’s House is an example of how buildings can be repurposed, refurbished, extended, and given a new lease of life. When it opens in time for the 2023/24 academic year, the property will be home to 684 students, who will benefit from on-site facilities including communal spaces, a gym, podcast studio, a multi-purpose event room and a combination of individual and joint study spaces to support them on their higher education journey. By retaining the existing structure, the impacts of the development process are significantly minimised. Benefits include the reduction in environmental impact, a reduced development timeframe and subsequently a reduced impact on the local community. Additional initiatives will be implemented to secure a rating of BREEAM Very Good and a Fitwel three-star accreditation, the highest level available for St Crispin’s House. This includes 75% of the total roof level designed as a green roof, the installation of air-source heat pumps, and all electric heating. This approach is embraced by Yugo, GSA’s global operating partner, who are committed to delivering incredible experiences for students, supported by three core pillars — YugoEco, YuPro, and YuGrow. This includes identifying opportunities to cut carbon, reduce water use, purchase energy from renewable resources, and implement data measurement systems. Norwich’s leading universities, the University of East Anglia, and Norwich University of the Arts, attract 17,000 students combine, but 63% of full-time students are currently unable to access university or purpose-built student accommodation in the city. St Crispin’s House will contribute to reducing this shortfall and respond to the evolving needs and expectations of today’s students. Commenting on the milestone, Doug Barton, Development Manager at GSA said: “I would like to thank everyone at McAleer & Rushe and the wider construction team who have helped us to reach this fantastic milestone at St Crispin’s House. It’s testament to the expertise and our working relationship that we are another step closer to delivering much needed student housing for Norwich. I look forward to continuing to work closely with the team as we target completion in July 2023.” Commenting on the ceremony, Mark Elliott, Contracts Director at McAleer & Rushe said: “We are delighted to have reached the topping out milestone in the sustainable redevelopment of St Crispin’s House, which once complete, will provide market-leading student residences in the heart of Norwich. I would like to take this opportunity to thank the entire construction team for their hard work and our client Global Student Accommodation for their open and collaborative approach. We look forward to continuing our engagement partnerships within the local community as we continue with construction which is targeted to complete in July 2023.” Simon Griffiths, Regional Director UK and Ireland at Yugo added: “We are thrilled to see St. Crispin’s House heading into the final phase of construction. Once finished, this building and its outstanding amenities will be a hub for students to live, learn and grow during their university years. We are eager to open the doors to Yugo’s first living space in Norwich before the start of the 2023/24 academic year and partner with the universities here to provide the much-needed additional spaces for students to live their best life.”. Throughout the construction of St Crispin’s House, GSA and McAleer & Rushe are proud to support two important charities. The Lighthouse Club, which supports construction workers and their families, providing them with emotional, physical and financial wellbeing. And The Feed, a social enterprise with a mission to motivate change in people to prevent poverty, hunger and homelessness in Norwich. The businesses were delighted that The Feed was able to host the ‘topping out’ reception at their café at Waterloo Park.
Ordering and purchasing products online have become the norm in recent years. While brick-and-mortar stores continue to attract buyers, the shift of preference is hard to miss. The drastic change in consumer behavior may be attributed to the rise of mobile technology, though the advantages offered by virtual shopping could have also influenced this movement. A global consulting firm survey in 2021 found that 48% of consumers reported having changed their shopping habits due to the global pandemic. Aside from the shift in priorities, shoppers have also found efficiency and convenience in contactless transactions and virtual customer experience. Hence, online ordering is expected to grow continuously in popularity and influence across industries, including manufacturing. Both manufacturers and clients have benefited from the shift in how transactions are done. In the past, clients spent days waiting for companies’ quotes before placing an order. Meanwhile, manufacturers also waste time and effort in sending numerous quotations to clients without a guarantee of making a sale. These inconveniences and delays are significantly reduced with online transactions. If you’d like to know of other ways online ordering has made an impact on the manufacturing industry, here are some examples: Virtual business transactions improve efficiency for companies and customers. Aside from the time saved conducting business online, they also improve order accuracy, reduce errors, and allows customization when needed. For instance, customers who require CNC cutting services can upload CAD files on an ordering platform, giving the engineers a detailed picture of the design they want to achieve. Aside from enhanced order accuracy, clients can receive lead times and price quotations faster with online ordering. For example, a client requiring tube cutting can place an order online with the design, size details, and lead time required. Before the order is completed and processed, the client can review the prices for each service, the shipping costs, the expected completion date, and other information to help them decide if they should push through with it. Overall, online ordering can benefit service providers and their clients as it helps everyone save time, effort, and resources. In the past, many manufacturers focused on mass production, which left little room for customization. Today, online ordering is becoming more competitive than ever, so businesses have transformed their services to cater to the consumer’s requirements. Besides customization, online ordering platforms give customers more freedom to explore a company’s products and services. Clients can spend as much or as little time at an online shop, and they also have control over what they view. With a user-friendly interface, your online ordering platform can help you attract and retain customers because of the positive consumer experience you provide. The virtual connection between manufacturing companies and their customers allowed companies to gain valuable insight into consumer mindset and behavior. For instance, companies can gather data from ordering platforms to create customer profiles which they can use to enhance their products and services or improve their marketing strategy. Furthermore, customers can take advantage of the opportunity to provide company feedback through online platforms. Clients can answer surveys, leave a rating, comment on products or services they used, or ask questions through a company’s online portal. Then, the collected information can be used by manufacturers to improve the quality of their products and make adjustments to their current business processes as needed. While the present world market still has opportunities for brick-and-mortar shops, the positive impact of online ordering platforms on manufacturing overhead costs cannot be overlooked. For one, maintaining a physical store in the United States can cost between USD$2,000 and USD$100,000. However, the prices depend on the size of the operations. Many small and medium enterprises prefer to channel their resources toward other business areas, which is why online shops are ideal. By reducing operational costs, manufacturers can direct their investments on product improvement, customer service, web design, or price competitiveness. While saving money, business owners can also improve their products and services, which positively impacts the company and its clients. According to a 2022 report by business solutions provider Raydiant, 55.6% of customers prefer shopping online. This figure embodies the consumer mindset that manufacturing businesses can take advantage of. For one, companies can expand their scope to various locations to cater to more clients. They can also offer more products as they won’t have to address space limitations like brick-and-mortar shops. Conclusion The impact of online ordering on the manufacturing industry is expected to last, and the transformation will continue as long as it supports growth for both landscapes. Meanwhile, business owners can take advantage of this trend and utilize it to improve the quality of their products and services. The enhanced connection with their customer pool and potential business can also help drive growth and revenue, which is why manufacturers should optimize their online ordering opportunities.
nvesting in commercial real estate can be a life-changing experience. Not only do you get the chance to build up capital, but you also get to learn about an industry that’s vital to economics. If you’re interested in this lucrative real estate sector, there are a few things you should know first. How to Break Into Commercial Real Estate Investing Successfully Whether you’re a real estate pro or a newbie, breaking into commercial real estate investing successfully requires a lot of research, skill, and practice. Use the following tips to get started. 1. Keep Detailed Records Preparation is key when it comes to commercial real estate, but many developers fail to spend enough time in the pre-investment stage. If you want to make better decisions, mitigate risks, and improve your operational efficiency, you need to invest in comprehensive project visibility. One great way to do this is through commercial real estate historical data, which can be stored and tracked with software. For example, Northspyre can empower real estate development teams to achieve predictable project outcomes by leveraging automation and data analytics. 2. Research Your Market One of the 5 rules for buying commercial real estate is “know what you’re looking for.” In this industry, knowledge is power. If you don’t know what a downtown New York office building should cost, you could overpay, lose the deal, or neglect to perform the correct inspections. All markets, no matter how big or small, come with their own expectations and rules. Your investment strategy is mostly determined by your cash flow, free time, and location. It’s a great idea to pick a niche prior to investing, and there are plenty available. If you want to stick to commercial office buildings in Phoenix, Arizona, then become aware of their zoning laws and inspection rules. Know your market inside and out before you ever write an offer letter. 3. Know How to Underwrite Underwriting in commercial real estate is essential, as it provides a financial projection of your property’s potential cash flow. By calculating factors such as financing terms, expense growth, and capital expenditures, you can determine if a building or development will turn a profit. While you can hire a professional to underwrite your investments for you, you’ll be paying at least $3,000 for this skill, and the process may take over a day. You can cut your time and costs significantly by learning to do this yourself, which allows you to invest faster and smarter. 4. Hire an Experienced Team Commercial real estate investors will have a hard time succeeding without a great team. A commercial real estate broker, for example, is an expert who can help vet a property and negotiate contracts. Oftentimes, the buyer/seller will pay the broker’s fee, not the investor. It’s important to ask the broker before assuming they’ll let you use their experience for free. Even if your broker charges a fee, it’s still cheaper to use their expertise in your strategy. But brokers aren’t the only real estate professionals you’ll need. You’ll need a real estate attorney, building inspectors, general contractors, project managers, property managers, and property lenders. Make sure these professionals are experienced in commercial real estate. 5. Consider Financing Upfront A commercial real estate loan is similar to a mortgage, except it’s used strictly for business purposes. Commercial loans usually have a 5 to 20-year amortization period and have a loan-to-value ratio of 65% to 80%. Your credit score determines how much interest you’ll pay. If you’ve never applied for a commercial loan in the past, know that you’ll be subjected to long wait periods and a lot of paperwork. You should familiarize yourself with the process, so you can use your loans as quickly as possible. Get your loans pre-approved to lock in the interest rate.
Within the world of construction, there are a great variety of roles, industries, and businesses that are thriving. For anybody that’s looking into the most profitable ventures within the construction industry, either as an entrepreneur or as a worker, it’s important to look at the industry as a whole and how many “sub-industries” there could be. Let’s show you some of these. Site Clearing Site clearing is, in many ways, the antithesis of the construction industry. The construction industry as a whole has received a lot of criticism because of the lack of effective recycling practices. It’s an easy one to overlook because, in the real estate industry, where many buyers are looking for new house and land package deals to create their dream property, the process can take a lot longer than necessary. The construction of any new home involves many different moving parts, with a variety of contractors and constructors. Site clearing is one of the most profitable areas because this will not just ensure the materials are removed from the construction site swiftly, but they can be recycled and sold in recycling markets. A contractor could offer services in clearing a site before or after a job and create a second source of income by selling these items. Paving Companies Paving is vital, especially in the real estate industry. Everybody needs some type of paving, whether it’s in commercial industries or in residential areas. One of the benefits of this type of business is the low upfront costs. It’s also a very far-reaching business because of the sheer diversity on offer; it can be combined with other exterior services. Landscaping and exterior remodelling can work in tandem with this type of business venture. Manufacturing Materials From cement to bricks, blocks, and other paving services, retail is an incredibly profitable venture within the construction industry. The great benefit of this type of business is that you can cater for interior and exterior services. For example, you could sell tiles made of ceramics for countertops or flooring. Naturally, starting a business in this type of industry means you can sell supplementary materials or other types of products. You can manufacture materials which you can sell, like cement or cement blocks. This is also another way to benefit construction businesses. Working to sell exclusively to construction companies is a very lucrative endeavour. Solar Panel Construction and Insulation The world is looking for more environmentally friendly practices. Alternative energy sources are becoming more popular with people looking to bypass the excessive costs of their utility bills. Solar panels can provide a useful addition to anybody’s property, and there is a demand for experts in this field. As renewable energy becomes more common, there will be a greater need for construction companies with renewable energy sources, specifically solar panels. Skilled Contractors We are at a crossroads in the construction industry. There is now a greater demand for skilled contractors because the Baby Boomer generations are now retiring in their droves, but younger skilled contractors are not replacing them. While there has been a drive for younger contractors with specific skills like carpentry, the numbers are not adding up because younger members of society are becoming increasingly reliant on the internet to solve their problems. This means there is a massive gap in the markets to provide carpentry services, not just for construction companies, but for the average consumer. Carpentry covers a number of specialities, for example, making cabinets for the interiors of properties, but also bridge carpenters, who produce wood for bridges. The most beneficial thing about being a carpenter is, because it is a skill that is greatly in demand, you can charge a premium for your services. Remodelling Remodelling services, whether it’s interior or exterior remodelling, can prove beneficial when working in tandem with construction companies. Many individual contractors can work with construction companies on a freelance basis to provide those finishing touches to exterior parts of properties. Exterior remodelling covers several disciplines, for example, remodelling building facades or just replacing windows and doors in residential properties. The most important thing for anybody to recognise when they are trying to expand their business or start within the construction industry is to be competitive and recognise the gaps in the market, as well as the gaps in skills. The construction industry is always going to be a lucrative one because of the demand for infrastructure, but when we drill down into the smaller industries, we can start to pick apart the more lucrative aspects.
Commitment to increase delivery of the number of truly affordable homes in the pipeline by 160 to at least 1,362 council homes for social rent 84 homes previously planned for private sale in regeneration schemes on 300 Harrow Road and Westmead in Westbourne Park will now be council homes Council leads the way giving priority for the delivery of council homes on the council’s own development – a shift from 60:40% split in favour of intermediate rent housing to a 70:30% split in favour of council homes There are more major regeneration projects in the pipeline, which will further increase the council’s affordable housing offer. Westminster City Council has announced a commitment to deliver at least 1,362 council homes for social rent, as the new administration looks set to implement changes to support local people to live in truly affordable homes in the heart of London. The pledge, which will maximise the delivery of truly affordable housing, will see an increase of at least 160 new council homes for social rent in addition to the 1,202 council homes already in the council’s housebuilding pipeline. This increase will begin addressing the waiting list of more than 4,000 households currently registered for council housing and begin to reduce the numbers of families relying on temporary accommodation. The council has set a commitment for affordable provision on all future housing schemes to be mainly council homes for social rent, and for these to be family-sized homes. The decision taken by the council will also see a rebalance of the previous 60:40 split for the council’s own development in favour of intermediate rent housing to a new 70:30 split in favour of council housing for social rent. The previous expectation stated that 60% of affordable homes would be intermediate housing, with the remaining 40% council housing. The council’s new strategy is to commit strongly to affordable housing, so now 70% of homes will be council housing with the remaining 30% being intermediate for the council’s own delivery. The delivery of these new, affordable, family-sized homes will be achieved by the proposed change of tenure from market sale and intermediate rent to social rent for upcoming schemes, such as 300 Harrow Road and Westmead in Westbourne Park. The new plans set out that market homes at 300 Harrow Road (60 Homes) and Westmead in Westbourne Park (24 Homes) will now be delivered as completely affordable council housing. A further additional 18 intermediate rent homes will be delivered across both schemes. From these two schemes alone, a total of 102 additional genuinely affordable homes will be created and will be a mix of social and intermediate, taking the total number of affordable homes for both schemes to 177. The 100% affordable residential homes will be re-balanced, so that all one bedroom homes, including the studios on 300 Harrow Road, will be intermediate and the homes with at least two bedrooms will be held as council housing for social rent. The council recently launched its new Fairer Westminster strategy which sets out how the council will work with the local community to support them and tackle inequality, and this new pledge to deliver more social housing aims to build a fairer city for our residents to live in. There are other major regeneration projects in the pipeline still to come, such as Ebury Bridge and Church Street, which will further increase the council’s affordable housing offer. Cllr Matt Noble, Cabinet Member for Climate Action, Regeneration and Renters at Westminster City Council said: “As one of the new administration’s first major pledges, in line with our manifesto, we want to show the people of Westminster that we really care about building truly affordable, family-sized homes which meet the needs of our residents and so we can build a fairer city for everyone. The wait for a family-sized social rent home in Westminster – and across London as a whole – is massive and this new commitment to deliver truly affordable homes, which sees an emphasis on council housing for social rent in the heart of the city, is the first step in a longer pipeline of work to deliver high-quality, family homes for our local people.” These new proposals were set out in a Cabinet Report which was approved at Cabinet on Monday 17 October. Read the full report. The council is adopting the London Living Rent definition of intermediate and social rent: Intermediate rent offers ‘low cost’ rental accommodation, with rent set at up to 80% of market rent. Social rent is usually rent that is paid to registered providers and local authorities. It is low-cost rent that is set by a government formula. This means it is significantly lower than the rent a tenant would pay in the normal market. Not everyone is eligible for social housing and so the next best alternative could be to aim for a provider that charges ‘affordable rent’ or intermediate rent. With regards to social rent, there are two tenancy options – introductory tenancy and secure tenancy: Introductory tenancy: All new tenants of Westminster Council will be introductory tenants unless they were already a secure or assured tenant of a local authority or registered social landlord at a previous property. An introductory tenancy will last for a trial period of 12 months, after which if you do not break any of the tenancy conditions, you will automatically become a secure tenant. Introductory tenants have fewer rights than secure tenants. You cannot do the following: apply to buy your home vote for a change of landlord sublet part of the property or take in a lodger apply to exchange your tenancy Secure tenancy: If you have had your tenancy for at least 12 months you will normally be a secure tenant. Secure tenants have more rights than introductory tenants. By law, as a secure tenant you have the right to live in your property indefinitely, as long as you keep to these tenancy conditions and your tenancy agreement.
Tritax Management LLP (“Tritax”), the specialist investor in critical supply chain real assets, today announced that all of its funds under management achieved improved GRESB scores, the global ESG benchmark for real estate and infrastructure, whilst its two listed funds were also awarded EPRA Gold Level certification. Highlights from the 2022 GRESB report: Improved ESG performance and data coverage across all Tritax funds, achieving a total of 13 stars compared to 12 green stars in 2021. Tritax Big Box REIT plc and Tritax EuroBox plc both achieved the maximum score for the criteria of Leadership, Policies, Reporting, Risk Management and Stakeholder Engagement. Tritax Big Box REIT plc was awarded four stars and named the Leader for Development in the European and Global Industrial Sectors for the second consecutive year. Tritax EuroBox plc was awarded the maximum five stars, an improvement on four stars awarded in 2021, and named the Leader in Sustainability for European Industrial Distribution Warehouses Listed Sector. Highlights from the 2022 EPRA report: Tritax Big Box retained its EPRA Gold Level certification and was one of only nine companies to achieve the most improved award for its 30% year-on-year improved performance. Tritax EuroBox has also been awarded EPRA Gold Level certification for sustainability best practice in its first year of inclusion in the EPRA Sustainability Best Practices Recommendations Report. James Dunlop, CEO – Investment at Tritax, commented: “At Tritax, we believe that collaborating with our stakeholders to deliver a cleaner, healthier and more equitable society drives superior returns over the long term. We make significant efforts to work in partnership with our customers so they can meet their ESG objectives and create the best buildings delivering the widest positive impact that will meet the highest sustainability and wellbeing standards. The year-on-year increase in our GRESB scores across all our funds, combined with EPRA Gold Level certification for our listed funds, demonstrates that we continue to make progress in improving our environmental, social and governance performance and delivering better outcomes for our investors and other stakeholders.” Alan Somerville, Director of ESG at Tritax, added: “Our EPRA certifications and GRESB scores reflect our ambitious ESG programme, which is underpinned by meaningful targets set across both our asset management and development management activities. We are actively delivering positive environmental and socio-economic impact by developing and managing net zero carbon buildings with high green building standards, that enhance nature and biodiversity and create social value.” ESG is fundamental to the strategy of the Group’s funds under management and is integrated throughout their investment processes and operations. The Group and its funds focus on four key priorities, aligned with the United Nations’ Sustainable Development Goals (SDG), where they believe they can make the greatest difference: sustainable buildings (aligned with SDG 11), climate and carbon (aligned with SDG 13), nature and wellbeing (aligned with SDG 15), and social value (aligned with SDG 8). To discover more about Tritax’s approach to ESG visit www.tritax.co.uk/esg. GRESB scores and ratings across Tritax’s funds under management: Fund Total Score Star Rating 2022 2021 2022 2021 Tritax Big Box REIT plc 83 81 4-star 4-star Tritax Big Box REIT plc – Development* 99 97 5-star 5-star Tritax EuroBox plc 88 82 5-star 4-star Tritax Property Income Fund 71 69 2-star 2-star Tritax MetroBox 71 68 2-star 2-star *Development not included in total score DOWNLOAD REPORT
Berkeley Group was awarded the Carbon Reduction Award at the 2022 National Sustainability Awards in October. The cross-sector awards, from The Better Society Network, celebrate ‘the pioneers of sustainability’ across the UK. The Carbon Reduction Award recognises Berkeley’s ambitious, holistic climate action strategy including solutions to cut carbon emissions – creating low carbon, resilient homes and places, alongside transformational changes to construction processes and wider business operations. Berkeley has set independently validated science-based targets for reducing carbon emissions, and is committed to being a net zero business by 2040. Carbon emissions from Berkeley’s direct operations have reduced by more than 40% since 2018-2019, and the business has procured 100% renewable electricity across all UK operations since May 2017. Rob Perrins, Chief Executive of Berkeley Group, said: “As a responsible business we have a duty to take action on climate change and this has been a priority for Berkeley more than a decade. This award reflects the hard work of our teams and partners, finding real solutions that support the transition to a low-carbon economy, and creating sustainable homes for the future.” Looking ahead, Berkeley is expanding its work to drive down embodied carbon. The homebuilder has completed 15 embodied carbon assessments, across a range of building typologies, to help identify the carbon-intensive materials within new buildings. Assessments will now be undertaken for new sites from the early planning stages, as Berkeley works with partners to understand the carbon intensity of different materials and reduce their impacts in these future projects. Find out more about Berkeley’s approach to tackling climate change here.
Constructing Excellence South West’s CEO has been crowned the winner of an incredible regional property and construction award. Andrew Carpenter has been voted the Property Personality of the Year at the 2022 South West Property Awards. Returning for the fifteenth consecutive year, the awards recognise outstanding achievements of the people, businesses and organisations which have played a vital role in the design and development of the built environment in the South West region. Since joining the construction sector 45 years ago, Andrew has worked tirelessly and was selected for his contribution during Covid-19 and beyond where he created opportunities for construction professionals across the South West to regularly collaborate via webinars, dinners or debates. “I can’t quite believe that I was voted the South West Property Personality of the Year,” comments Andrew. “At Constructing Excellence South West we’re passionate about supporting the industry and wanted to make sure we continued to engage with our members throughout the pandemic. So, we designed and launched a brand-new weekly webinar series covering a wide range of industry topics to keep people informed and consulted. “It’s fantastic to win this award and I’m incredibly proud to have been nominated by the judges and chosen by the ballot.” Constructing Excellence South West is a member-led organisation created to drive the change agenda in construction across the South West region. It exists to improve industry performance to produce a better-built environment and operates for the good of the construction industry and its stakeholders. For more information on Constructing Excellence South West and its membership visit: https://constructingexcellencesw.org.uk/