Northamptonshire will see the construction of two residential schemes that will bring around 8,500 homes, as well as schools, leisure and commercial space. After securing a £70 million loan from Homes England under its £4.5 billion Home Building Fund, the schemes will move forward. “I am delighted to hear shovels
The £35m Castle View Windsor urban retirement development has been completed on time and to budget following a two year build and fulfilling a dream by entrepreneur and developer, Robin Hughes, who wanted to create a retirement home ‘good enough for Mum’, 85 year old Betty Hughes. One of the
Optimism in the UK construction sector hit an eight-month high in December 2018, according to the IHS Markit/CIPS UK Construction Purchasing Managers’ Index. This rise in confidence came despite a slowdown in growth caused by Brexit-related uncertainties. The ongoing lack of certainty post-Brexit will likely delay decisions further, but it
The new £98 million Heatherwood Hospital in Ascot has officially received green light and construction work is on its way. The project leader is Kier, aiming to replace the ageing Heatherwood Hospital with a new state of the art facility, located in woodland behind the current site. “We are delighted that
Master developer Nakheel has started constructing the rooftop infinity swimming pool at The Palm Tower, its 52-storey, luxury hotel and residential complex at the heart of Palm Jumeirah in Dubai. Perched 210 metres above ground and covering 775 square metres, the infinity pool – one of the highest in the
Cavanna Homes, a homebuilders from the South West, has announced another year of steady growth and a record number of sites in development across its region. The Torquay-based firm, which currently has new homes for sale in seven locations in Devon, Cornwall and Dorset, will be bringing forward an additional
A new industrial quarter is set to arrive in Redcar with the transformation of a South Tees Development Corporation site. In order to bring the work forward in the first quarter of 2019, the government made an investment of £14 million. “Our investment of £14 million in the South Tees
Rallying against the ongoing economic and political uncertainties the UK faces ahead of our departure from the European Union, office investment volume in Central London in 2018 is expected to come close to £20 billion, according to international real estate advisor Savills. Performance is in line with 2017 activity London
The development contract for Wolverhampton’s new modern office space, i9, has been secured by GRAHAM. The development will provide 50,000 sq ft of Grade A office space, designed by Glenn Howells Architects. “The appointment of GRAHAM offers the next step towards this much anticipated state of the art, Grade A office
The £1.6 million contract to develop the expansion plans for Viking Shipping Services in Yorkshire has been handed over to Britcon, which aims to expand its offerings at the Selby site with a new warehouse and office facility. “After a thorough contract tender process managed by GGP Consult we were pleased to
Northamptonshire will see the construction of two residential schemes that will bring around 8,500 homes, as well as schools, leisure and commercial space. After securing a £70 million loan from Homes England under its £4.5 billion Home Building Fund, the schemes will move forward. “I am delighted to hear shovels are already in the ground as builders set about delivering 8,500 much-needed homes so more people can realise their home-owning dream. We are making the housing market work, and Homes England’s £70 million loan will unlock the development so we can invest in the properties our country needs,” said Kit Malthouse, Minister of State for Housing. Moreover, the Kettering and Wellingborough developments will create around 3,000 jobs in the areas. Roads, utilities and other works will also be delivered to enable the delivery of homes at Kettering and at phase one of the site at Wellingborough. Speaking of Homes England’s role in delivering the sites, Sir Edward Lister, Chairman of Homes England commented: “We’re working with partners across the country to ensure land is available to build more new homes where they’re most needed. Providing infrastructure upfront is key to unlocking significant housing growth and Homes England’s investment in Kettering and Wellingborough will enable two major housing projects to be delivered after many years of delay.”
The £35m Castle View Windsor urban retirement development has been completed on time and to budget following a two year build and fulfilling a dream by entrepreneur and developer, Robin Hughes, who wanted to create a retirement home ‘good enough for Mum’, 85 year old Betty Hughes. One of the largest and most innovative urban retirement villages in the UK, the Castle Retirement Living development comprises 64 apartments including five rooftop penthouses, along with its neighbouring 72 bed care home, which is being operated by Care UK. From his original dream ten years ago, the founder and CEO of Castle Retirement Living, Robin Hughes spent years buying and assemble different pockets of land in Windsor to create the three-acre urban retirement development site – and originally just armed with a £10k retirement cheque to create his business, won multiple planning permissions, raised the £35m and ran the build with main contractors Castleoak and funding partner Octopus. Says Robin Hughes, Founder and CEO, Castle Retirement Living, who worked in the property and care sector for over 20 years before creating his own vision as an independent retirement developer: “For me, everything about the development from start to finish has been attention to detail in every aspect which has to be ‘good enough for Mum. It had to be right and we couldn’t be late. “Having built four previous retirement villages as development director for Richmond Villages and Shelbourne, I was confident from the outset that with Castle View Windsor, we would finish the project on time to budget and schedule. Many sector projects of this size have been late which is inexcusable. Working collaboratively with Castleoak, our team of 130 contractors on site each day and our excellent project manager, Sam Grimbaldeston, we did it. “Everyone working on the project knew how important quality and completing on schedule was to me, as well as its personal nature. We hosted regular contractor lunches at key stages of the project, the best of which was fish and chips on the roof for the team before the Royal wedding. Good communication is crucial and along with our project update meetings I was on site daily so any issues could be quickly ironed out. We also regularly thanked our construction team for all their hard work and celebrated key project milestones. My Mother is delighted to be in her new home.”
Optimism in the UK construction sector hit an eight-month high in December 2018, according to the IHS Markit/CIPS UK Construction Purchasing Managers’ Index. This rise in confidence came despite a slowdown in growth caused by Brexit-related uncertainties. The ongoing lack of certainty post-Brexit will likely delay decisions further, but it shouldn’t deter construction companies from planning ahead – not least when it comes to expanding their fleets. Know Your Construction Fleet For construction companies looking at fleet expansion, a useful starting point is to know the size and composition of an existing fleet. An inventory can show up any gaps in a fleet, as well as the plant or vehicles that need replacing. It can also help you work out how big your company fleet needs to be. Leasing Options One way to expand your fleet, yet mitigate the ongoing uncertainties in the construction sector, is to lease plant or commercial vehicles. One benefit of leasing is cashflow management; there’s no major capital investment, just regular monthly payments for the duration of the lease period. Purchasing Options Leasing can be beneficial in the short-term, but expanding your construction fleet by purchasing the equipment you need can be more advantageous in the long-term. Owning assets outright is one way of investing in your company’s future and can add value to your business. It often works out cheaper to buy used equipment. Used plant and vehicles tend to hold their resale value better than their new counterparts. It’s also worth getting a comprehensive hpi check done so you can be confident that your new trade vehicle has no hidden secrets from its past. Other Considerations Other factors to consider if purchasing equipment to expand your construction fleet are the ongoing costs. Unlike leasing, your business will be responsible for repairs and maintenance. One way you can avoid any nasty surprises, however, is through preventative maintenance. Your business will also need to think about the cost implications of insuring your owned equipment, as well as the time it takes to train your staff. This is particularly relevant when you’re adding a new piece of equipment to your fleet. Fleet expansion can be an effective way to help your construction company plan for challenges and opportunities that lay ahead. By weighing up your business needs against the options available, you can find the most appropriate solution and allow your company to look ahead with confidence.
The new £98 million Heatherwood Hospital in Ascot has officially received green light and construction work is on its way. The project leader is Kier, aiming to replace the ageing Heatherwood Hospital with a new state of the art facility, located in woodland behind the current site. “We are delighted that work to build a new hospital can now begin on the Heatherwood site. This will be a fantastic hospital fit for the 21st century, offering state-of the-art care for our patients and a first class working environment for our staff,” said Dr Tim Ho, medical director at Frimley Health NHS Foundation Trust. Specialising in planned, non-emergency procedures such as orthopaedics, general surgery, urology, gynaecology and endoscopy, the new facility will have six operating theatres and 48 inpatient beds, plus 22 day case cubicles. Moreover, it will also include space for the Trust’s private patient unit. In addition, the facility will offer a range of outpatient and diagnostic facilities, including cardiology, radiology, lithotripsy, children’s clinic, physiotherapy and orthodontics and space for a primary care hub with GPs, community nurses and other healthcare specialists. “We are delighted that we can now deliver our vision for the Heatherwood site. The new hospital will ensure we can offer local patients the best care in the best environment and it is a key part of our strategy to remain an innovative and outstanding trust well into the future. We can’t wait to get started,” commented Frimley Health chief executive Neil Dardis. The new Heatherwood Hospital is the latest major development in Frimley Health’s £200 million capital investment programme, expected to be complete by late 2021.
Master developer Nakheel has started constructing the rooftop infinity swimming pool at The Palm Tower, its 52-storey, luxury hotel and residential complex at the heart of Palm Jumeirah in Dubai. Perched 210 metres above ground and covering 775 square metres, the infinity pool – one of the highest in the world – borders all four sides of the building, boasting unrivalled, panoramic views across Palm Jumeirah, the Arabian Gulf and the Dubai skyline. The pool – which will hold 930,000 litres of water – is on the 50th floor of The Palm Tower. Above the pool will be a podium housing a 51st level speciality restaurant and a 52nd storey public viewing deck, 240 metres high. Construction of the rooftop dining viewing deck complex will begin soon. Located at the heart of the world-famous, award winning Palm Jumeirah, The Palm Tower comprises a 289-room St. Regis hotel, 432 luxury residences and an array of dining and leisure facilities. The hotel occupies the first 18 floors, with fully-furnished studios and one, two and three bedroom apartments on the upper floors. Currently, around 850 construction workers are on site at The Palm Tower, rising to more than 1,500 when internal fit out gets in full swing in the next few weeks. Fit out of the St. Regis – due to open later this year – has already begun. The Palm Tower is directly connected to the under-construction Nakheel Mall – the access point for the public viewing deck – and its 350 shops, restaurants and attractions. Nakheel Mall, which has its own Palm Monorail station, is due for completion this year. Several other dining, leisure and entertainment venues are nearby, including the St. Regis Beach Club, part of Nakheel’s Palm West Beach complex, to which hotel guests and residents will have priority access; Al Ittihad Park, the UAE’s first indigenous park, spanning 1.1 million square feet across the heart of Palm Jumeirah; and the newly-opened Pointe at Palm Jumeirah, with 70 seafront restaurants and shops. For more information on The Palm Tower apartments, visit the Nakheel Sales Centre, call +971 4 390 3333 or log on to www.nakheel.com
Cavanna Homes, a homebuilders from the South West, has announced another year of steady growth and a record number of sites in development across its region. The Torquay-based firm, which currently has new homes for sale in seven locations in Devon, Cornwall and Dorset, will be bringing forward an additional five sites this year, including Wincanton in Somerset, making it the busiest construction year in the company’s 95 year history. Pre-audited figures show a £64.7 million turnover in 2018 which represents a 6.4% increase on the previous year. Moreover, a total of 290 new homes were sold; 201 open market and 89 affordable homes for rent or shared ownership through a housing association. Last year’s results have been welcomed by the company, especially in light of the decline in the property market. “It’s been well publicised that nationally the housing market has taken a bit of a downturn, and the South West is no exception. The uncertainty over a Brexit ‘deal or no deal’ is causing people to wait and see what this will mean for the country and their own personal circumstances. Whilst there has been a dip in numbers of visitors to our showhomes over the last few months, the prospective buyers we’ve seen have been extremely positive of both the quality and specification of our new homes as well as the overall developments,” explained Cavanna Homes’ Managing Director Keith Miller. For 2019 the company has a range of new homes for sale at seven Westcountry locations: Bodmin in Cornwall and Holsworthy, Barnstaple, Stoke Gabriel, Paignton, Torquay and Newton Poppleford in Devon. Cavanna is also bringing-forward a further five new developments; Barley Meadow at Dawlish, Cavanna@Wolborough Hill, Newton Abbot, Broadleigh Park at Tavistock, Bellevue at Bude and Cales Reach at Wincanton. “Our business plan for 2019 has been adjusted to reflect the current market conditions, especially in the first quarter,2 said Looking forward, Keith Miller. “Whilst we anticipate a slowdown, we are proceeding with cautious optimism during this unprecedented and unpredictable period.” Cavanna Homes’ 95th anniversary was market by the launch of a new brand and a new portfolio of house styles – The Westcountry Collection – which can be viewed at new showhomes opening in the New Year at Kings Orchard – Stoke Gabriel, Alfred’s Gate – Newton Poppleford and Moorland Vale – Bodmin.
A new industrial quarter is set to arrive in Redcar with the transformation of a South Tees Development Corporation site. In order to bring the work forward in the first quarter of 2019, the government made an investment of £14 million. “Our investment of £14 million in the South Tees Development Corporation demonstrates this government’s commitment to building a stronger more resilient economy in the Tees Valley and across the Northern Powerhouse,” commented Jake Berry MP, Northern Powerhouse Minister. “This government is firmly behind the Tees Valley, and I’m determined to ensure its people get the most out of the exciting growth opportunities available on their doorstep. It’s a further demonstration of how we’re helping to build a new golden era for the North East as part of our Industrial Strategy, and ensuring the Tees Valley is truly open for business as we are set to leave the European Union,” Mr Berry added. Work to establish construction access and utilities, as well as a new spine road and a roundabout will begin shortly, with new commercial tenants expected on site from 2021. Once completed, the quarter will help create 500 new jobs and ttract over half a billion pounds of private sector investment. “Government has committed £137 million to the Development Corporation over the last year, and this latest £14 million funding is vital to kick-start immediate work to redevelop land to help spearhead the transformation of the area. These huge schemes will deliver hundreds of quality jobs for local people, drive growth for the Tees Valley economy and continue our history of manufacturing excellence,” said Tees Valley Mayor and Chairman of the South Tees Development Corporation, Ben Houchen. “This £14 million shows government is continuing to listen to us and this is another step closer to the Development Corporation becoming a massive success story for not just the North East but for the UK,” Mr Houchen concluded.
Rallying against the ongoing economic and political uncertainties the UK faces ahead of our departure from the European Union, office investment volume in Central London in 2018 is expected to come close to £20 billion, according to international real estate advisor Savills. Performance is in line with 2017 activity London has witnessed notably above average levels of office take-up in 2018, Savills explains, and achieved the best ever City of London rent (£80 per sq ft). The list of global businesses committing to long term leases has continued to grow with announcements in the last 12 months from Facebook, LinkedIn and Sidley Austin amongst others. The constrained development pipeline has seen more office pre-lets over 50,000 sq ft agreed in 2018 than ever before and of late, Savills says, the shortage of available Grade A options has matured into a greater number of value add/ development opportunities trading. This has seen the return of UK REITS to the market, now the second biggest investor group in the City, and established global investors such as Brookfield and Tishman Speyer. Stephen Down, head of Central London investment at Savills, comments: “Commercial property investment volumes in London have exceeded expectation since the EU referendum as the city has remained the leading destination for global capital. Asian investors lead the way, and the pool of investor appetite has continued to spread to other parts of Asia, most notably in 2018 to South Korea (Savills advised on five of the nine deals to complete to South Korean investors in London in 2018), and elsewhere. The return of UK buyers and the appetite from global developers for London has enriched the argument that there is no better city to invest in the world today.” Savills says the level of demand for London offices offers investors liquidity in the ability to buy and sell assets when other property sectors, such as retail, are struggling. Compared to Tier One cities in mainland Europe London also appears good value with prime yields in the City (4.0%) and West End (3.25%) considerably softer than other European tier one cities (Berlin 2.9%, Munich 2.9%, Frankfurt 3.0%, Hamburg 3.0% and Paris 3.0%). Savills believes a greater number of value-add and development opportunities coming to the market and trading in London will insure the ongoing creation of the world’s best office buildings in a city where people will continue to want to work. This in turn creates new investment opportunities for global investors searching for prime assets. Rasheed Hassan, head of the cross border investment team at Savills comments: “ There is appetite from across the globe for London. Looking ahead, the correlation between the UK’s yields, currency and interest rates will remain a key driver to London’s investment market. Given where sterling is today we are seeing increased enquiries from our private investor clients in particular, who seem poised to invest in 2019. We believe that once there is more clarity on the direction of Brexit there will be more activity from many and would highlight there being a particular pent up demand from mainland European investors, who have been cautious. We are seeing demand for assets across the risk spectrum from core income to development projects.” Savills concludes that while we continue to operate in uncertain times the full health of London’s offices market should be able to absorb most shocks felt in the run up to Brexit and thereafter.
The development contract for Wolverhampton’s new modern office space, i9, has been secured by GRAHAM. The development will provide 50,000 sq ft of Grade A office space, designed by Glenn Howells Architects. “The appointment of GRAHAM offers the next step towards this much anticipated state of the art, Grade A office building for Wolverhampton. The i10 development has already proven that new occupiers are attracted to Wolverhampton and the state-of-the-art transport links of the Interchange will be a major attraction for those new occupiers,” said Steve Parry, managing director of Ion The scheme follows on from the success of the award-winning i10 complex on the opposite side of the road in the heart of the City of Wolverhampton Interchange. “Wolverhampton is undergoing a period of regeneration that is set to transform the city and attract further investment and jobs to the area. We are therefore pleased to have been appointed as the main contractor on the i9 – a significant new headquarters building that benefits from a prime location and high-spec office facilities. We look forward to working with the wider project team to deliver this new, sustainable commercial development for the city,” commented John Maguire, Regional Business Development Director for GRAHAM’s Birmingham office. Councillor John Reynolds, Cabinet Member for City Economy, City of Wolverhampton Council added: “The appointment of GRAHAM means we can look forward to i9 emerging at the heart of the city’s Interchange in 2019. It is another step towards our aspirations of creating a Commercial District in this area of the city and we want this building to become the design and quality benchmark for future developments in the city and to demonstrate our ambition for the city centre. This important site ideally lends itself to a distinctive, high-quality headquarters building.” The i9 development is expected to be completed in 2020.
The £1.6 million contract to develop the expansion plans for Viking Shipping Services in Yorkshire has been handed over to Britcon, which aims to expand its offerings at the Selby site with a new warehouse and office facility. “After a thorough contract tender process managed by GGP Consult we were pleased to award Britcon the Viking project and commence the new development at our Selby site. We look forward to working with the Britcon team,” commented Graeme Pickering, Director at Viking Shipping Services. The comprehensive freight forwarding and cargo handling services provider will complete the design and build phases of the 12,000 sq ft warehouse and adjoining 4,500 sq ft offices. “We are pleased to be appointed by Viking Shipping to assist with its exciting growth at Selby. Amongst our expertise is full turnkey solutions where we are able to take care of planning issues, ground and civils works and of course the build programme,” said Matt Harker, Regional Manager at Britcon. “On this particular project two of the original rail lines dating back to the historical landmark are still exposed with two sets of buffers and the local authority has requested that we maintain these as practical in the new build,” he added. Construction has commenced on site and is expected to take 29 weeks to complete. Britcon is one of the UKs most successful and progressive construction and development businesses based in the North of England. Established for nearly 30 years as a family owned business, Britcon has exceptional pedigree with an impressive and diverse client portfolio. The business directly employs over 100 people in its team and maintains an operating turnover of £50 million. Viking Shipping Services Ltd commenced trading in the 1940’s with the specific aim of providing a comprehensive freight forwarding and cargo handling service. Based at Selby just off the M62 in North Yorkshire, Viking Shipping is strategically located to facilitate a range of services for cargo arriving by both road and sea.
