In today’s construction blog, we will look into the Newcastle Building Society, which decided to halt all mortgage transactions in light of the uncertain economic climate in the UK. This week marked a significant event in the Army’s Vehicle Storage and Support Programme, with the first demolition taking place at MOD Ashchurch. A Grade II building that is “no longer viable as an asset” will be sold by the council. Alumno, a developer of student housing in the UK, has sold the Hollis Building to Heitman. Challenge Anneka creators announced an urgent plea for funding for the renovation of a dementia care building and garden today.

Newcastle Building Society stopped all mortgage transactions amid UK economic instability

Original Source: Newcastle Building Society pulls all its mortgage deals after UK economy plunged into turmoil

After the UK economy tanked, a North East building society halted all mortgage deals.

Newcastle Building Society has cancelled all mortgages due to “volatile” market conditions triggered by Chancellor Kwasi Kwarteng’s mini-budget last week. The Bank of England launched an emergency intervention on Wednesday to avert a “material risk to UK financial stability.” Homeowners and prospective buyers fear a huge price spike.

North East England Chamber of Commerce CEO John McCabe said it was “becoming harder” for financial markets to trust the UK economy. Moneyfacts.co.uk reported 935 fewer mortgage deals on Wednesday than the day before.

That includes all mortgages offered by the Newcastle Building Society, whose website said “Sorry, no mortgages match your search parameters” on Wednesday. Stuart Miller, the company’s chief customer officer, said volatile market conditions make pricing fixed-rate mortgages difficult.

“We’ve carefully considered what these implications are for our mortgage products, so we’ve withdrawn them until the market stabilises.” We’ll continue to process mortgage offers and provide new solutions as soon as possible.

Borrowers nearing the end of their fixed rate should contact their lender or broker. Some news and economic forecasts are worrying, especially with rising food and energy prices.

“Anyone worried about paying their mortgage should call their lender for advice.” Customers with mortgage questions can call 0345 601 0014 or visit www.newcastle.co.uk.

Labour leader Sir Keir Starmer said the new government had “lost control of the economy” and demanded that the House of Commons be recalled. The Bank of England said it would acquire government bonds “urgently” to preserve economic stability.

Mr. McCabe called on the government to present a “clear strategy” to calm markets after the pound hit a record low versus the dollar on Monday.

A weak pound will increase inflationary pressure to businesses already facing higher prices, he said. Imported products and services are more expensive, and with the cost of living issue, consumers simply can’t pay more.

“The administration needs a clear approach to calm markets.” It’s hard to rebuild confidence when both the government’s stimulus package and the Bank of England’s interest rate policy are pushed to the floor.

Despite pressure, the government hasn’t reversed Friday’s decisions. Financial Secretary Andrew Griffith said the new administration’s policies make the economy competitive.

“Deliver that plan,” he said. I, the Chancellor, and my government colleagues are focused on growth. This benefits consumers. We’re shielding every household and business from the largest macro shock, energy prices.

First MOD Ashchurch destruction

Original Source: Marking the first demolition at MOD Ashchurch

The removal of the first facility marks the start of a two-phase effort to improve the British Army’s vehicle and equipment storage and upkeep.

DIO is pleased to be involved in this endeavour.

DIO’s principal project manager said:

Skanska has been given a multimillion-pound contract to maintain the Army’s vehicle fleet. The Vehicle Storage and Support Programme will add storage, repair, inspection, and office buildings.

Skanska, Mace, and DIO cooperated to meet the customer’s May 22 contract award date. The entire project team is working with the customer and all parties to deliver the project and address any concerns.

VSSP will also provide inspection and maintenance areas for CHE military vehicles. All buildings will meet the newest sustainability standards, and DREEAM Excellent is the program’s sustainability goal. New infrastructure construction will begin in 2023.

Solar panels will be installed to meet the site’s sustainable energy requirements and help it become carbon neutral.

VSSP SRO Belinda Lunn said:

I’m happy to be here for the Ashchurch destruction. Several buildings on the site are in bad condition, and I look forward to working with our partners to provide the Vehicle Storage and Support Programme.

This significant effort will offer cars with controlled humidity environment (CHE) storage, saving maintenance costs and avoidable damage due to dramatic drops or rises in temperature, ensuring our fleet is always operating.

Skanska will provide construction, mechanical, and electrical engineering for the complicated project, which includes the destruction of 58 buildings, the construction of 12 new facilities, and the renovation of one existing facility.

Katy Dowding, Skanska UK EVP, said:

We’re pleased to begin demolition on this important project, as we’ll soon be changing the site into a facility that will protect and futureproof the British Army’s vehicle fleet. We’re proud to be a part of it.

Steve Holbrook, MD of Skanska UK’s construction branch, was also present. said

We will employ current building methods, a green site setup methodology, and productivity monitoring to reduce carbon emissions.

The project improves prospects for defence and the community. Having worked with Tewkesbury Borough Council before, we’re optimistic. This investment in Ashchurch secures a long-lasting partnership with the Armed Forces.

Knuston Hall: Grade II building for sale

Original Source: Knuston Hall: Council to sell off Grade II listed building

A council will sell a Grade II listed building because it’s “no longer viable as an asset.”

Knuston Hall in East Northamptonshire was a college conference centre until this year.

North Northamptonshire Council said the hall had “little demand.”

The authorities stated public cash shouldn’t be spent on the location.

Knuston Hall dates from the 17th century, with 18th and 19th-century additions.

North Northamptonshire Council took over the building when it replaced the county council last year.

The authority’s leadership called it “no longer viable as a council asset” and “needs investment.”

The council claimed it already supported the neighbouring, recently rebuilt Chester House Estate, which could host education and conferences.

Knuston Hall staff will be offered “appropriate alternative employment within the council,” it said.

As the local planning authority, the council will “continue to regulate development of the site”

Hollis Building sold by Alumno to Heitman

Original Source: UK student housing developer Alumno sells Hollis Building to Heitman

Heitman’s UK student housing portfolio now comprises 120 beds.

The $53bn asset manager invested in Bath’s Hollis Building alongside London-based Alumno.

Bath Spa University and the University of Bath use the Hollis Building. Homes for Students will operate the asset.

Heitman’s managing director of European real estate investment, Caleb Mercer, said demand for student-specific housing remains high. Last year showed the resilience of purpose-built student housing.

Demand for student housing is likely to grow due to stable occupancy gains, considerable investor interest, and high entry hurdles.

Gordon Black, Heitman’s senior managing director and global portfolio manager, stated, “As we continue to build our global portfolio in a turbulent market, we’re focused on acquiring high-quality assets that provide substantial risk diversification by area, property type, and demand driver.”

Student housing continues to attract high demand, and the UK is a global leader in higher education.

David Campbell, founder and managing director of Alumno, remarked, “We’re thrilled to work with Heitman again on this intriguing new project.” The University of Bath supports the planning proposal for this development because of the increasing demand for purpose-built student housing in the UK.

Age UK Wirral dementia care building renovation needs you!

Original Source: ‘Challenge Anneka’ needs you for Age UK Wirral dementia care building refurb

The Challenge Anneka producers announced an urgent request for support in constructing a dementia care building and garden today.

The popular Channel Five series returns next year.

Birkenhead Park Rugby Club’s Facebook page said, “Challenge Anneka” (the actual Anneka rice) is performing a challenge at Age UK Wirral in Claughton Village this week to completely restore the dementia care facility and garden.”

“It’s scheduled to be done Thursday but isn’t.

“She’s pleading for extra gardeners, decorators, landscapers, etc. to help tomorrow.â€�

“At any time, for any length.”

She’s also asked anyone (with no talents like myself) to go help make drinks or carry things.

“She’s offered to pick individuals up if needed. If you can help, go to Age Uk on Park Road North near the club.

Summary of today’s construction news

Overall, we discussed Newcastle Building Society’s cancellation of all mortgages due to “volatile” market conditions caused by the mini-budget last week. The first demolition took place at MOD Ashchurch, which marks the beginning of a two-phase effort to enhance British Army vehicle equipment storage and maintenance. Knuston Hall in East Northamptonshire, a Grade II listed building, was sold because it’s “no longer viable as an asset” and has “little demand.â€� The Hollis Building was purchased by Heitman from Alumno. The student housing portfolio that Heitman manages in the UK now has 120 available beds. The “Challenge Anneka” is in need of funding for the refurbishment of the Age UK Wirral dementia care building.