Posts Tagged ‘property developer’

Retrofitting to Create New Opportunities in Construction

Tuesday, June 8th, 2010

Property developers take note – according to the Federation of Master Builders (FMB), retrofitting is due to take off due to the requirements of the government’s environmentally-friendly construction agenda.

The FMB said that many new jobs in construction will be created over the next few years based upon the need to ensure retrofitting of energy efficient and carbon reduction technologies.

It pointed out that the latest figures to be published by the Chartered Institute of Purchasing and Supply reveal that there has been an increase in construction recruitment over the past month. The statistics also indicate that the volume of construction work available is now at its highest level since September 2007.

FMB director of external affairs Brian Berry said that much of this was down to the government’s insistence that existing homes be made more energy efficient, requiring much retrofitting of carbon reduction materials.

The requirement for carbon reduction systems in new homes also means that the technologies required are being sought after by property developers.

The new government is committed to actually encouraging a green agenda and making our existing homes more energy efficient,” Mr Berry said.

“I think we have already seen an upturn there in more entrepreneurial construction companies taking advantage of that. In terms of the retrofitting market and energy efficiency, that is where the job creation will be in the next few years.”

In one example last month, British Gas opened a green skills training centre in south Wales which aims to help advise and train some 1,300 people in readiness for new construction and civil engineering work.

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Property Developers Urged to Use Greener Materials

Wednesday, June 2nd, 2010

A leading supplier of construction materials has warned that certain materials aimed at increasing energy efficiency and carbon reduction are being severely underused by the property developer community.

SIG operations director Vince Lunn urged builders and property developers to start incorporating green technologies as standard practice in their projects.

Mr Lunn gave as an example a copolymer that has been developed by SIG with the intention of being used in buildings with a low thermal mass to prevent the rapid fluctuation of room temperatures.

He explained that “the copolymer sites in the walls and at 22 degrees it melts. When it melts it takes up some latent heat in order to do that, so that actually cools down that building or that room.”

“As the temperature drops and as it reaches 18 degrees, it solidifies and actually gives some of that heat back.”

Although the material is already in use, Mr Lunn stressed that it can potentially be used in many different parts of a building than just the walls. He said that it was down to the construction industry to think outside the box and innovate to ensure that more carbon reduction technology was utilised.

“One of the challenges we face all the time is we work with lots of manufacturers and we bring a lot of products and I challenge the idea that it is becoming more mainstream,” he said, insisting that property developers need to be more “imaginative.”

This looks likely to be an uphill struggle, however. At the start of the week, the Department of Energy and Climate Change announced that it is rejecting any new applicants to the Low Carbon Building Programme due to spending cuts.

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Nervous Banks Putting the Brakes on Property Developers

Friday, May 28th, 2010

The global economic downturn has made it far harder for property developers to obtain necessary finance, and recently the head of one of the UK’s largest property companies has warned that easier lending conditions are not likely to come back “for the foreseeable future.”

British Land chief executive Chris Grigg told The Times newspaper that the ongoing financial crisis has a number of long-term knock on effects, chief among which is that the banks remain very wary of financing property developers’ schemes compared to other kinds of lending on real estate deals.

Speaking recently at the British Council for Offices’ annual conference, he had predicted that smaller property developers will need to enter into partnerships with sovereign wealth funds and private equity companies in order to continue with their projects.

Mr Grigg expanded on this subject in his interview with The Times, saying: “Will banks finance development? Yes, but at much, much lower levels of leverage.”

“Development, even in London, will be more modest than it has been for a long period, and the little that gets done will tend to be by well-capped, larger companies.”

He went on to say that regulations concerning capital adequacy had often acted a brake on development during the boom period of the previous decade. These regulations direct banks to maintain enough cash reserves to cover the riskier areas of lending.

British Land’s figures show that even when the property market was at its peak in 2007, the development of London office space only reached around six million square feet, whereas during the 1990-91 boom they reached 14 million square feet. Mr Grigg pointed out that since 2007, capital adequacy rules have been tightened still further.

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Trump Returns to Aberdeen Golfing Site

Thursday, May 27th, 2010

Combative US property developer Donald Trump has revealed that he is pressing on with his controversial scheme to build a massive golfing resort on Scotland’s north-eastern coast

Mr Trump flew into Aberdeen this week to promote the property development project and to answer the criticisms of protesters and locals who are utterly opposed to the £750 million scheme.

He told the Financial Times: “With the world’s financial markets crashing, with the euro and other currencies – except for the dollar – being at an all-time low, I want to highlight the fact that this development is being built with cash and does not rely on financing.”

“Sixty million dollars has already been invested in the project by me – it is being built out of my back pocket. I do not even have a mortgage or financing on the land – unlike many other developments that are announced and never built.”

The Scottish Government granted Mr Trump planning permission for the resort two years ago. The development entails two coastal championship golf courses, with an adjoining five-star hotel with 450 bedrooms and a golfing academy, along with 950 holiday homes and 500 private family residences – plus 36 luxury golfing villas.

Last autumn the first landscaping work began on the site, with marram grass being planted on its sand dunes. Mr Trump told the newspaper that he planned to name the dunes “The Great Dunes of Scotland.”

He explained: “This name is a tribute to my mother, Mary Macleod, who was born and raised in Scotland – and very much loved her country – and also to Scotland itself.”

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Unique Auction of Military Vehicles Looms

Wednesday, May 19th, 2010

A massive collection of military vehicles painstakingly amassed over the years by Lancashire property developer Brian Boys will go under the hammer at the end of next month.

Mr Boys has decided to hold on to a few particular favourites, but the entire remainder of his stunning collection – valued at more than a million pounds – will be up for auction, including battle tanks, a rare Sexton self propelled gun, armoured personnel carriers and armoured cars. Alongside such big beasts are many smaller vehicles, such as field guns, motorbikes and jeeps. There is even a Ford Model T Fire Engine, which is believed to have once belonged to movie legend Charlie Chaplin. In total, some 150 items will be available for purchase.

The property developer, who is chairman of property developers B&E Boys, said that he started off collecting Dinky Toys as a boy and after some time in the army, matured into a desire to own the real thing. Over the past few decades he has attended scores of military fairs and obtained other vehicles from private collections.

However, Mr Boys has made the difficult decision to sell the collection due to retirement, although he has admitted that “it’s given me the opportunity to make lots of friends worldwide and I shall miss that camaraderie.”

The auction will take place on 28-29 June at the Manchester office of plant and machinery auctioneers Sanderson Weatherall. Bids of up to £100,000 are thought to be likely, and online bidding facilities will be available for any interested parties who are unable to make it in person on the days in question.

The company’s auction manager Stephen Jepson commented: “”This is one of the largest private collections of such vehicles in the whole of the UK and its sale represents a fantastic opportunity for people to invest in the military heritage of this and other nations.”

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