UK construction and property
- HS2 conveyor belt | More than five million tonnes of spoil will be removed from the London section of HS2 by a 1.7-mile-long conveyor belt, eliminating the need for one million lorry movements. From Old Oak Common, the conveyor runs at 2.1 metres per second, and the journey to the logistics hub takes 17.5 minutes. From there it will be moved by rail.
- Building safety levy | Plans which will see a tax on residential developers are now open for comments.
- Last mile deliveries | Courier Gophr has launched Gophr Trades to serve the construction and DIY industry. Founding partners include Screwfix and electrical distributor Rexel.
- Equipment sales numbers have increased 11% in the last year, and this recent increase takes sales almost back in line with 2021 levels. Mini/midi and crawler excavators were the most popular.
- Highways planning | The National Audit Office has warned that the Department for Transport and National Highways will have some “difficult decisions” to make if planning decisions are not made more quickly because of inflationary pressures and changing government priorities. More than a third of projects have not secured permission by the expected time.
- Retail space | Increased mixed-use schemes in Oxford Street are expected to convert 1.32m sqft of retail space to offices in the next five years, according to Savills.
- London market | Based on an analysis of 168 European submarkets, AEW claims that the UK will be the most attractive country for investors next year.
- Green value | MSCI’s latest report shows that London offices with a BREEAM or LEED certification sold for 26% more than uncertified buildings in Q3 2022. The premium has increased from 1% in 2018.