Local authorities sitting on £9bn of developer contributionsLocal authorities in England and Wales are sitting on £9bn of developer contributions intended to fund essential local infrastructure such as schools, public transport and affordable housing.
The unspent money paid as part of planning agreements for new housing developments includes £6.6bn from Section 106 agreements and over £2.2bn…
Kier veteran joins RED boardroomRED Construction Group has drafted in a Kier finance veteran and a hospitality sector specialist as it targets over £200m turnover.
The specialist main contractor has appointed Alastair Gordon-Stewart as its first full-time group finance director and brought in Michael Walsh as strategic director to strengthen its push into the luxury hotel market.
The twin hires…
Major circular construction hub opens in Royal DocksAmbitious plans to create Europe’s largest circular construction hub in London’s Royal Docks are underway with the opening of the facilities gates today.
The new facility, delivered with Newham Council and climate charity Tipping Point East, will recycle and reuse construction materials that would otherwise head to landfill.
Backers say it…
Costain returns to FTSE 250 indexCostain is returning to the FTSE 250 index for the first time in more than 20 years.
The re-entry comes after years of consistent financial performance and ahead of a results announcement for the year ended 31 December 2025 on 10 March 2026.
Alex Vaughan, Chief Executive Officer of Costain, commented: “I am extremely proud of the whole Costain team and the ro…
Hill go-ahead for £850m North London estate rebuildNorth London council Enfield has given housing contractor Hill the green light to start its major 2,000 home estate rebuild.
Enfield Council cabinet has approved revised phasing for the £850m, 20-year overhaul of the Edmonton estate, clearing the way for construction of the first 270 affordable homes to start in early summer.
In total, t…
Carey Group powers into third year of recovery with 3.5% marginCarey Group has completed a decisive turnaround with a third straight year of recovery delivering stronger margins, rising profits and a growing cash buffer.
The civils and construction group has posted pre-tax profit of £11.1m for the year to 30 September 2025 up 50% on last year.
Turnover fell 22% to £303m as the firm stuck to…
Orders drop deepens two-speed civils marketOrder books across the civils sector have slumped to their weakest position since 2020 despite workloads edging back into growth at the end of last year.
According to the latest work trends survey from the Civil Engineering Contractors Association a balance of 17% of firms reported higher workloads in Q4 than a year ago, reversing the dip seen in Q3.
But…
Materials firms sound alarm to Rachel ReevesLeading construction materials firms have written to Chancellor Rachel Reeves warning of a looming production crisis in the sector.
The Mineral Products Association letter states: “Right now, our industry is struggling badly. We need you to act quickly to stimulate construction activity in order to prevent long term damage to the nation’s ability to…
Salford former union HQ to become uni hubA long-vacant University of Salford building is poised for a comeback after plans were lodged to refurbish Faraday House as part of the £2.5bn Crescent Salford masterplan.
Development partnership ECF has submitted proposals alongside Salford City Council and the University of Salford to transform the building on the A6 next to Irwell Place Car Park.
T…
John Lewis ditches plan to be house builderJohn Lewis Partnership has scrapped its house building arm and pulled the plug on plans to deliver around 1,000 rental homes across three sites, blaming a “fundamental shift in economic conditions” for the big U-turn on build to rent.
The employee-owned retailer confirmed it is withdrawing from the build-to-rent sector after concluding the numbers no…