UK construction and property
- Commercial demand is highest in the east of England, according to research by Sirius Property Finance. Its analysis of commercial listings on Rightmove showed that a mix of low investment cost and high rent was driving demand.
- Vaccine plant | Moderna’s new manufacturing hub in Oxfordshire will be built by Glencar this year, and the plant will be operational in 2025.
- Spoil tunnel | A third tunnel is being built between North Acton and Old Oak Common, along the HS2 line, but it is not for trains, instead, it will be used for construction logistics, removing 70,000 lorry journeys from the roads.
- Output bounce | Total construction output rose 2.4% in February after it fell 1.7% in January due to heavy rain. New work rose by 1.1% whilst repair and maintenance increased by 4.5%. Some expect the figures for March to be less optimistic as it was the wettest on record for 40 years.
- Infrastructure | The plan to scrap smart motorway projects on public confidence grounds, has removed £1bn from public sector infrastructure spending, although there will be some remedial works to existing smart motorways.