Building Briefs – August 3rd

Knight Property Group brings Edinburgh properties to the market

Scottish commercial property developer Knight Property Group have announced the completion of the refurbishment of their city centre properties, No2 Castle Terrace and 110 George Street, Edinburgh with an investment of approximately £10 million now made between both properties.

Works at Castle Terrace involved an extensive refurbishment, which was completed by SJS Property Services over a 16 week period.

The refurbishment included an overhaul of the new entrance and lift, cycle and shower facilities as well as completely replacing the air conditioning, ventilation systems and toilets on each floor.

George Street included the complete refurbishment of all 5 floors incorporating new toilets and shower facilities, redecoration, new lighting and the inclusion of a contemporary entrance and inner hallway.

Aberdeen Asset Management raises £115m for UK PRS portfolio

An investment management group has raised £115 million of equity from a number of UK pension funds to invest in the UK Private Rented Sector (PRS).

Aberdeen Asset Management said the ‘Investment Club’ will acquire existing or new developments of residential blocks across the UK.

Michael Dinsdale from Aberdeen Asset Management, who led the capital raising, said: “This Club reflects the growing interest in the PRS sector. We have designed the Club after extensive discussions with investors to meet their needs for a clear strategy, a simple structure, and a cost effective approach.”

The portfolio will be run by Ed Crockett who leads Aberdeen’s UK Residential Team.

He said: “Aberdeen already manages over £350m of residential property assets in the UK. We see this as an area of real interest for investors offering a stable, durable income stream with strong demographic pressure driving a fundamental change in the approach to the sector. We are delighted to be able to assist these clients in growing their exposure to this asset class.”

‘Significant delays’ expected on M8, M73 and M74

Motorists are being warned to expect significant delays on the M74, M73 and M8 from 8th August 2016, as work begins to remove existing and install the new motorway gantries, as part of the £500m M8 M73 M74 Motorway Improvements Project.

Major traffic management is required along central Scotland’s motorway network to ensure these works are carried out safely. This includes reducing the carriageway to two lanes in each direction and, at times, will result in the closure of various slip roads on the M8, M73 and M74.

The works to remove and install the new gantries are scheduled to begin on the following dates:

Work continues on £120m drinking water network upgrade

Work is continuing on a £120 million drinking water network upgrade project in East Renfrewshire.

Caledonia Water Alliance (CWA) has began installing a new stretch of water main from Waulkmill Glen reservoir near Newton Mearns to Amlaird Water Treatment Works near Fenwick.

As part of the scheme, a rolling programme of temporary traffic lights will be in use around 250 metres from East Renfrewshire Golf Club on Ayr Road from Monday, 08 August. The traffic management will move south at intervals of about 100 metres as the work progresses over an eight-week period.

In addition, further temporary traffic lights will be used on a 100 metre stretch of the A77 from Monday, 15 August. This four-week project is to begin at Little Loch Fishery.

The scheme is part of Scottish Water’s project to install around 30 miles of new water mains to connect the system in Ayrshire with the Greater Glasgow area’s network.

Aliva UK delivers Edinburgh and Glasgow cladding schemes

Aliva UK has delivered two stone cladding schemes at student accommodation blocks in Edinburgh and Glasgow.

As part of planning regulations in the two cities, the company was required to develop cladding which was in line with the existing traditional architecture.

In Glasgow, Aliva UK developed a curved façade using 1,000 sq m of red sandstone on the 10-storey West Village on Beight Street. The façade incorporates double soffits and a bespoke fan-shaped radiused facade.

In addition, the company was appointed by architects 3D Reid to develop a 1,000 sq m sandstone finish for the Elliott House facility in Edinburgh. Features include reveal panels into the windows and monolithic corners.

West Lothian country club upgrade completed

A £270,000 improvement project has been completed at a country club in West Lothian.

The six-figure investment was made by the Muir Group at its Deer Park country club and golf course in Livingston.

A total of £100,000 was allocated towards redecorating the clubhouse, while £90,000 was use to upgrade the golf course and purchase maintenance equipment. In addition, £80,000 was spent on purchasing new gym equipment.

The project has been carried out ahead of the EMTEC Deer Park Masters tournament, which will see over 70 Scottish construction businesses and professional golfers play on the revamped course this week.