Building Briefs – July 4th

Scottish property investment value in Q2 reaches £528m

Investment in Scottish property in the second quarter of 2018 reached £528 million, with a significant increase in the value of retail transactions compared with the first quarter.

According to the latest research from CBRE Scotland, the total is almost double the value of investment transactions seen in same quarter of 2017 (£288m), and also almost double the five-year average for the quarter (£275m).

The quarter was dominated by M&G Real Estate’s acquisition of 50% of Fort Kinnaird Retail Park in Edinburgh for £167m and Roebuck Asset Management’s purchase of Princes Exchange and New Uberior House in Edinburgh for £71m on behalf of MAS Holdings. CBRE acted for parties involved in each of these deals. CBRE’s busy quarter also involved the off-market sale of 78-90 Buchanan Street in Glasgow for over £30m to a private international investor.

The total £528m was achieved across 31 transactions, with 47% (£248m) representing retail deals, 30% (£160m) on office deals, 8% (£43.5m) on industrial deals and 15% (£76.5m) on deals across the increasingly popular alternatives sector.

CITB seeks new head office location

The Construction Industry Training Board (CITB) will now actively seek a new head office location in Peterborough to “help bring its customers and colleagues closer together”, it was announced today.

Chief executive Sarah Beale and her executive team, with the full support of the CITB Board, led by new chair Peter Lauener, believe that Peterborough is the right location to establish a head office equipped to meet the future needs of the business.

The move follows calls from British construction firms through last year’s consensus process and from government, through the ITB review, for CITB to radically change the way it does business and is part of a wider plan announced in November 2017.

The establishment of a single head office will see CITB move from a large estate with functions spread across 11 sites throughout Great Britain including Bircham Newton in Norfolk, being brought together to create a single, modern head office.

CITB will begin to look at suitable office space within Peterborough, with the aim of signing a lease later this year, with the move completed by January 2020.

Peterborough is the preferred location as a diverse city with a strong local talent pool, a generous supply of modern, sustainable office facilities, supported by excellent road and rail transport links. CITB said it will enable the business to connect more easily with its customers across England, Scotland and Wales.

Development works continue at Dean Castle Country Park

Development works are continuing at Dean Castle Country Park in Kilmarnock.

The park now offers a new adventure play park with state of the art facilities including a bespoke climbing structure and slide, smaller pieces of equipment for younger children, and sensory equipment for children with a range of abilities. East Ayrshire Council has outlined plans to add to the play park in the coming months.

The café also underwent a major refurbishment.

Several new routes have been upgraded, offering over 6km of paths for visitors to explore. Two new bridges have been installed as part of the route work, and there are further plans to expand the paths.

Other works include environmentally friendly improvements to the animal enclosures and paddocks, an upgraded Rural Life Centre, and a new residential centre for schools and community groups.

The Castle is closed temporarily while a major restoration project takes places to preserve the building.

An information hut is due to open soon at the car park, which will provide more details on the project.

​​Mactaggart & Mickel finalist in UK housebuilding awards

Mactaggart & Mickel Homes has been named as a finalist in two categories of the 2018 Housebuilder Awards.

The family-run company have made the final in the Best Training or Recruitment category for ‘The Best of YOU’ – a multi-strand programme to train, develop and retain its 279 highly skilled staff.

Its entry highlighted that staff turnover is 3.8% (UK average is 15.5%); people stay at Mactaggart & Mickel Homes for an average 11.5 years; and 93% of staff say they are proud to work there.

The company has also been shortlisted for Best Community Initiative, for its Building Communities Fund, which provides financial and other support to charitable organisations, schools, clubs and other projects within a five mile radius of Mactaggart & Mickel Homes’ developments under construction.

Now in their 14th year, The Housebuilder Awards recognise innovation and excellence and have become the most coveted in the industry. The winners will be announced at a prestigious black tie event on Thursday 1 November 2018 at the InterContinental London - The O2.

In December 2017 Mactaggart & Mickel Group announced its intention to move into the English house building market for the first time. It has planning permission for two sites in Oxfordshire, and has acquired a further two sites in the county that it wishes to develop.

Graham celebrates success of CREST courses for young people in Dumfries

More than 200 S2 and S3 pupils from across Dumfries have spent the year learning about the variety of careers which are available within the construction industry.

Through participation in the CREST Award Scheme, the 13 and 14 year olds from Dalbeattie Learning Campus, Maxwellton, Dumfries HS, Dumfries Academy & Stranraer were taught about the construction industry and how career opportunities are linked with STEM subjects including maths and science.

Delivered by Dumfries and Galloway College in partnership with the local council and construction firm Graham, the year-long course develops student knowledge and skills, supporting attainment in Curriculum for Excellence subjects and qualifications.

The Pilot programme kicked off at Dalbeattie Learning Campus (DLC) in September 2016, which saw 45 S2 pupils sign up and successfully complete the programme.

Sixteen of the pupils are now enrolled on the Design, Engineer, Construct (DEC) course in Dalbeattie Learning Campus, funded by Graham.

Focusing on elements learned in 2nd year it is also supported by hub South West Scotland.

DEC is an accredited learning programme for secondary-school age students and has been expertly developed to create and inspire the next generation of Built Environment professionals.

Through a project-based approach, DEC applies pure academic subjects to the latest construction industry practices.

Graham is in the final stages of three large education projects on behalf of Dumfries and Galloway Council in partnership with hub South West.

Glasgow office market ‘scorching hot’

Following the unprecedented heatwaves in May and June, Glasgow’s city centre office market has experienced its best ever half year performance according to global property advisors Cushman & Wakefield, with an impressive H1 2018 take-up total of 582,873 sq ft and 51 deals completed.

Q2 take-up figures were boosted by the recently announced 115,000 sq ft pre-let deal to Clydesdale Bank, advised jointly by Cushman & Wakefield and CBRE, for its new HQ at HFD’s 177 Bothwell Street.

There were a further eight deals recorded above 10,000 sq ft, including the 34,728 sq ft letting at 4 Atlantic Quay to the Scottish Executive, SThree Recruitment taking 16,760 sq ft at 95 Bothwell Street and Webhelp acquiring 20,029 sq ft at 67 Hope Street.

Serviced office provider, Regus has also boosted its Glasgow offer with two new centres due to open at 1 West Regent Street, where they have taken 30,933 sq ft, and 19,686 sq ft at 100 West George Street and will operate their ‘Spaces’ format.

LAR completes record deal with purchase of 64 homes

Housing charity LAR has completed its biggest ever deal for a development in the east end of Glasgow.

The organisation has agreed to purchase 64 homes at a site being developed by Cruden Estates Limited on Helenvale Street, just a short walk from the Sir Chris Hoy Velodrome. This is LAR’s single biggest development across Scotland.

The Fife-based organisation, which was set up two years ago to provide much needed mid market rental properties across Scotland, has agreed to purchase the units for an undisclosed sum.

The 64 homes are all two-bed flats and construction work is scheduled to start imminently. LAR’s other Glasgow development is also in the east end, at the site of the former Belvidere Hospital.

LAR and Cruden have also collaborated on a project in East Lothian, with construction nearing completion at a shorefront location in Cockenzie.

The work will be completed in phases and LAR expects its first tenants to move in by summer 2019 with the last phase ready for occupation by autumn 2019.

Osprey takes off with new housing in Inverurie

The fully let signs are up at Osprey Housing’s first ever, new build development in Inverurie.

Tenants have just moved in to the housing association’s 12 flats at its brand new, high specification, £1 million development in Portstown. The Scottish Government provided a grant of £864,000 for the project with Osprey’s funding coming from Lloyds Banking Group.

The tenants really do have a room with a view – while having easy access into Inverurie town centre the flats are in a stunning location overlooking fabulous Aberdeenshire countryside, particularly the iconic Bennachie Hills.

Osprey’s properties consist of six one bed and six two bed homes, which have excellent space standards, can be adapted to meet specific requirements and are highly energy efficient. The site enjoys ample parking and very easy access to the local school and Inverurie’s shops and amenities.

Window replacement contract commences at Glen Oaks

Glen Oaks Housing Association has embarked on a new planned maintenance programme in the south side of Glasgow with a suite of window replacements for up to 480 properties.

Undertaking these works are CCG Asset Management (CCG AM), the planned maintenance division of CCG (Scotland) Ltd with extensive experience working in the public sector.

Prior to the commencement of the contract, CCG AM will survey every property to establish the size and fenestration of each window. Thereafter agree an installation schedule with both Glen Oaks and the tenant. The first installations in phase one is already underway and the customers are already seeing the benefits of their new windows.

Lochshell secures contract for Rothesay Ferry Terminal works

Lochshell Engineering has secured a contract to complete work to protect the quay wall at Rothesay Ferry Terminal in Bute.

The £833,000 project will see a series of protective screens installed. The ‘scour baffle screens’ will minimise the effects of propeller wash which currently affects the masonry quay wall located beneath and to the rear of the suspended deck of the ferry berth. Site works will begin on 27 August.

Amended ferry timetables will be in place throughout the duration of the works.

The project is expected to be completed by 07 November.

West Highland Way improvement works complete

Improvement works have been completed on a section of Scotland’s most popular long distance path, the West Highland Way.

The works took place on the Military Road south of Kinlochleven as part of the first phase of improvements from the north of the Devils Staircase to the junction between the old Military Road and the hydro track to the Blackwater Reservoir.

Highland Conservation upgraded the section with better drainage and cleared debris for a smoother route. Locally sourced stone material from under the vegetation was used.

Highland Council and Scottish Natural Heritage part-funded the project, costing £40,000 for the first phase, with a second phase due to start in the autumn at a similar cost.

The West Highland Way starts at Milngavie, outside Glasgow, passes through Loch Lomond & Trossachs National Park, over Rannoch Moor, into Glen Coe and ends up in Fort William.

To walk the West Highland Way with RICS Scotland in aid of the LandAid charity please click here.