Author Archives: Ben Vogel

Housebuilder Persimmon has claimed a “strong performance” in 2022 but warned that rising interest and mortgage rates, inflation and weaker consumer confidence will affect the health of the residential property sector this year. The company has already renegotiated or paused work at around 30 sites, citing “uncertain market conditions”, it…

New data from law firm Irwin Mitchell and the Centre for Economic and Business Research (CEBR) has underlined the gloomy outlook for the construction sector by warning that continued supply-chain pressures, a lack of raw materials and labour shortages will hit urban building and manufacturing in 2023. The UK City…

Troubled Britishvolt could sell a majority stake to an Indonesia-linked private equity firm, it has been reported. According to The Guardian, negotiations with London-based DeaLab Group could lead to a takeover of the UK electric-car-battery manufacturer and means construction work could resume on a £3.8bn battery cell gigaplant in Blyth, Northumberland.…

Standard Life Assurance has settled with architect Building Design Partnership (BDP) over the near-doubling of the cost of a scheme in Newbury, Berkshire. Costs on the project, which started in 2008 and completed in 2013, ballooned from an estimated £85m to £146m. The client had claimed £38m in damages from…

The government has unveiled a substantially less generous energy-support package for businesses from April. Announcing the new Energy Bills Discount Scheme (EBDS) for 2023/2024, exchequer secretary to the Treasury James Cartlidge said the new support will make up to £5.5bn available for a 12-month period from 31 March. This is…

Standard Life Assurance has partly settled a legal dispute with consultants over the near-doubling in cost of a mixed-use scheme in Newbury, Berkshire. The dispute stems from higher-than-expected costs for a retail and residential project called Parkway. When Costain won the fixed-price contract from client Standard Life in 2008, Gleeds…

Tilbury Douglas will lead the construction of what it has described as the UK’s first purpose-built “biophilic” primary school – with net-zero carbon emissions. The new St Mary’s Catholic Voluntary Academy in Derby – part of the St Ralph Sherwin Catholic Multi Academy Trust – is being built under a…

The UK construction industry will continue to suffer from the impact of labour shortages and price inflation this year following a difficult 2022, according to the latest report from data specialist Glenigan. Factors such as the war in Ukraine and resulting energy crisis — coupled with rising consumer prices, supply…

The sale of Amey to a pair of private equity firms has been completed, with updated financial results showing the relevant operations making a profit of £82m in 2021.   US-based One Equity Partners and the UK’s Buckthorn Partners announced on 30 December that they paid former owner Ferrovial £264.6m for…