RESIDENTIAL
Developers and housebuilders look forward to strong growth after difficult 12 months
With the backdrop of further Bank of England base rate cuts and lower mortgages on the horizon, house prices are forecast to continue their upward trend, buoyed on by gradually returning demand.
Moreover, with our new government’s extensive house-building ambitions and proposed changes to the National Policy Planning Framework, we see a significantly improving outlook for national housebuilders as we move towards 2025.
It has been a difficult year for the residential sector with high interest rates, a weak investment market, challenging project viability, and planning and building regulation constraints, all dampening activity.
While these pressures will continue to subdue the market in the very near-term, we see private residential development, including build to rent, hotels, and student and later living accommodation, all having a robust platform for strong growth as the economy slowly recovers and institutional investors return to the market.
There is still very limited new build affordable housing delivery, with housing associations constrained by funding and fragile balance sheets, with their immediate priority focused on upgrading their existing housing stock.
LEEDS, UK
Leeds Technology Campus Redevelopment
Metropolitan and District Securities has appointed RLB to provide project management and quantity surveying services for the redevelopment of the former Technology Campus of Leeds University.
The project will involve the demolition of the existing campus and the construction of three new residential blocks of studio and cluster apartments providing accommodation for more than 500 students.
The development will include a range of amenities and facilities to enhance the student experience, including a gym, yoga studio, cinema room, bike store, roof terrace, communal and events spaces, and retail unit.
The building utilises the district heating network from the local authority and includes plate heat exchangers to optimise energy efficiency. The project is targeting an Energy Performance Certificate ‘A’ rating and BREEAM ‘Excellent’ certification.
