News

Wandsworth Council in London has launched an international competition for architects and engineers to design a new central pedestrian bridge over the Thames. The planed new river crossing would link the Nine Elms development district with Pimlico embankment to the north. It forms part of a £1bn infrastructure package transforming the Nine Elms regeneration area including two new Northern Line tube stops, improvements to rail stations and two riverbus piers. The plan for the design competition comes after a TfL feasibility study confirmed the bridge could cost around £40m and carry around 9,000 walkers and 9,000 cyclists a day. Around four teams will be selected to develop design ideas. Up to £26m is already committed to the project through the development of Nine Elms. The winning …

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INFRASTRUCTURE and support services group Carillion has secured the £75m contract for the redevelopment of Liverpool Football Club’s main stand at its famous Anfield ground. The award comes after the Wolverhampton-based group was announced back in July as the preferred bidder for the contract.Work on the project, which will add around 8,500 seats to the main stand and increase the overall capacity of Anfield to around 54,000, is expected to start this week and is scheduled for completion in the third quarter of 2016

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Manufacturers in the South East will end the year on a high, with firms reporting output and orders at their highest levels for 16 years, according to the Q4 Manufacturing Outlook survey by EEF, the manufacturers’ organisation, and accountancy and business advisory firm BDO LLP The survey shows that a balance of 67% of South East manufacturers have seen growth in both order books and output in the final quarter of 2014. It is only the third and fourth time that orders and output respectively have increased for more than 50% of firms since the survey began in 1998. One driver of growth is the electronics sector, which has some of the strongest sectoral results and has continued to punch above its weight in the South East. UK-wide, a …

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The Government’s announcement that it will lower the threshold on the Builders Finance Fund to five units has been welcomed by the Federation of Master Builders (FMB). Brian Berry, chief executive of the FMB, said: “The Government’s decision to open up applications to the Builders Finance Fund to the very smallest house builders is going to make a real difference to our sector. We know that access to finance is the main barrier to SME house builders increasing their output and the fact that Ministers have taken our advice, shows that government is committed to empowering small local builders and ensuring they can contribute to the much-needed uplift in new homes. “We also welcome the government’s recognition of the need to …

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Nowadays, like it or not, we are all global companies. Many of our suppliers are based overseas, some of our staff were trained or grew up overseas, and many of the products we use were manufactured and designed overseas. While this means you may be facing stiff competition at home, it’s worth bearing in mind the Chinese saying “when the wind blows you can build a shelter or a windmill”. In these global times, it’s never been easier to find foreign construction opportunities and grow your business overseas. The basic process for finding foreign opportunities is pretty similar to the process you use to find opportunities at home. Firstly, identify suitable opportunities. This can be done via a great variety of websites, journals, and professional associations. Most …

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Almost three quarters of small and medium sized construction businesses plan to give their employees a pay rise in the next 12 months, according to a survey. Of that number, over a third say that everyone will receive a rise while 41% say the increases will be decided on merit. The figures come from the most recent Close Brothers Business Barometer, a quarterly survey that canvasses the opinion of SME owners and senior management from a range of sectors across the UK on a number of financial and economic issues. Andy Sagar, national sales director for the Construction Division at Close Brothers Asset Finance states: “It’s encouraging that so many construction businesses appear to be optimistic and in a financial position to reward their employees with an increased …

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Woking Borough Council has nodded through plans to redevelop the town centre with a high-rise residential and retail scheme at Victoria Square. The company behind the retail project is a joint venture between Peacocks shopping centre owner Moyallen, Surrey County Council and Woking Borough Council. Their joint venture Bandstand Square Developments will build the mixed-use scheme on the site of Bandstand Square, Woking Fire Station and the former home of the town’s market. The Victoria Square proposal will deliver 125,000 sq ft of new retail floorspace anchored by Marks & Spencer, a 190-bed four star hotel in a 21 storey tower, 392 residential apartments in two towers of 30 and 34 storeys. The plans also include space for a medical centre, 380 additional car parking spaces and two new public plazas. …

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A specialist contractor is looking to sell-off parts of its business after failing to resolve a £2.8m retentions row with Costain. Preston waste engineering specialist TEG has been in talks for more than two years with Costain in a bid to release a retention held on its Greater Manchester waste contract. TEG suspended trading in its shares on AIM last month. Now it is looking to sell off parts of the business which is now starved of funds. TEG said: “Given the ongoing costs associated with managing the conclusion of the contract and the associated remediation costs, in the absence of capital from the retentions the board believes that the provision of equity financing for the group is extremely unlikely. “The board is exploring the …

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When overseeing a property development or construction project, managing and maintaining productivity is of crucial importance. Most projects operate according to strict time schedules; delays cost money and negatively affect key players across the supply chain. When a construction project loses momentum in one area it inevitably leads to delays in another; for example, if the bare shell of a building is not completed on time, plumbers, electricians, painters and decorators expecting to start work will have to be put off. As many construction workers are self-employed, they may have difficulty rearranging their schedules, so the knock-on effect can be devastating. Similarly, if a delivery of materials does not arrive on time crucial elements of the project may be delayed, resulting in a knock-on …

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Are you considering or have you already embarked on the property development path? Property development and investment can be a successful and lucrative enterprise, on both a domestic and international scale. There are various forms of international property development and investment and each have their own pros and cons. The key question in the first instance is whether you are planning to buy to sell or to let. The difference between buying to sell and buying to let Are you looking for quick money and fast returns or planning on long-term development? If you choose correctly, investing in key improvements and selling at the right time, buying property with the intention to sell it on at a profit seems like the quickest and easiest solution. Buying …

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