UK construction and property
- Offices | The sector will miss net zero targets unless carbon footprints are better addressed, according to the BCO in its new Delivering Net Zero Carbon in the Workplace paper. It suggests new benchmarks to standardise the measurement of energy use in offices in order to move from ambition to action.
- Life Sciences | A new report by CBRE claims that the “Golden Triangle” of Oxford, Cambridge, and London could deliver 10 million sqft of space in the next five years and that significant opportunities exist for the sector.
- John Lewis homes | The retailer has agreed a £500m deal with Abrdn to build 1,000 rental homes in vacant shops and warehouses in Bromley, West Ealing and Reading. It is the first stage of a plan which will see a total of 10,000 homes built.
- Energy infrastructure | Sizewell C was confirmed with a public stake of £700m (50%), ending China’s involvement. It will provide power to the equivalent of 6 million homes for 60 years. The government will also set up Great British Nuclear to develop other nuclear projects.
- Road infrastructure | National Highways has submitted its second attempt at a planning application, after the first attempt lacked necessary details. If accepted, work could begin in 2024.
- Workstyles | 17% of construction jobs now advertise flexible working. This includes part-time roles, home working, hybrid working, flexible start and finish times, flexible shift patterns, remote working, term-time, or jobshare. This data comes as the UK government is set to deliver legislation to promote flexible working.
- Payment terms | Business secretary, Grant Shapps, has ordered a review into late payments to find out if small businesses are being paid fast enough.