What will 2018 bring for the UK Construction Industry?

April 21, 2018

After reflecting on the year gone by and bringing down our Christmas lights, most of us now are looking forward into the New Year with hopes of new ventures, enterprises, evolutions and field days. UK is going to see some aspiring projects in the year 2018 which include football stadiums, large commercial schemes and big office developments being among those who have been set with the green light.

We will discuss the major projects below:

Chelsea FC Stamford Bridge redevelopment
Stamford Bridge’s redevelopment is set to be one of the largest and most complex projects in the UK once it gets out of the ground. Designs are still being looked at, but it is understood that the cost of the scheme will be in the region of £1bn. Tenders for main contractors are likely to move along in 2018, with names such as Mace, Multiplex and Sir Robert McAlpine being bandied around within industry circles.

Grenfell Tower
It is expected that a final decision will be concluded on the possible demolition of Grenfell tower which was potentially the most high-profile topic of construction in the last year.

Tottenham Hotspur’s new stadium

Tottenham Hotspur’s new stadium is going to jump on its most technically challenging aspect in January 2018: the lifting of its gigantic 600 tons roof. Spurs announced on their club website that they have entered into an agreement with Bank of America Merrill Lynch International Limited, Goldman Sachs Bank USA and HSBC Bank PLC for a five year, £400m loan to finish the stadium, which is currently estimated to cost around £800m.

Big Ben Again

News about the Big Ben were heard on the New Year’s Eve since the summer of 2017, which was swept under the carpet due to the renovation the Elizabeth Tower. The costs for that project, with Sir Robert McAlpine as main contractor, have already risen sharply from original estimates. The refurbishment of the Palace of Westminster will be discussed by MPs on 11 January in the House of Commons. The government has yet to publish a motion stating its preferred option, which will see either a full or partial move-out of MPs, but the decision should become clearer in 2018 after years of delay

Aykon London One

This 50-storey tower in Nine Elms is being built by Multiplex, which took over as main contractor after previous contractor Lendlease failed to agree terms with developer Nine Elms Property, a wholly owned subsidiary of developer Damac International. Multiplex has taken on £240m project, the latest in a row of high-profile project wins in London and not too far from another of its major projects, One Nine Elms. Aykon London One is being pitched as high-end residential, with apartments designed in conjunction with Versace Home.

Capital Square
Major effort is likely to continue in 2018 on Edinburgh’s largest national office development, Capital Square. Hermes International & Bam Properties have both invested hugely in the project. The scheme represents a bold investment from Bam and Hermes into Edinburgh’s property market and shows the partners believe the city’s commercial sector remains robust. The project’s success will hinge on this bet being correct. But with businesses still asking questions about Brexit and even Scottish independence, it’s not hard to see how the balance could shift.

Brent Cross Shopping Centre
Laing O’Rourke was appointed to expand of Brent Cross Shopping Centre for Hammerson and Standard Life this year, with work set to start on site in 2018. The overall construction value is approximately £700m – a very sizeable job at a time when retail is under tension due to general economic uncertainty over Brexit. It will also be a lift for Laing O’Rourke, which suffered a rough year after announcing a group loss of £245m 12 months ago.

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