Arbuthnot Commercial Asset Based Lending (ABL) has provided fast-growth social housing renovations and maintenance specialists, PiLON Ltd. (PiLON) with a £3.5m funding package to drive further business expansion. Over the past two years, PiLON has seen its revenues more than double, putting significant pressure on an existing funding facility that was no longer able to […]
Costain Group took this month’s top spot in the contractor league tables after being appointed the contractor for two major road projects. A new SMART motorway on the M62 at Brighouse and widening works on the A1 in Newcastleupon-Tyne with a combined value of £575m. In the runners up spot this month is Bowmer & […]
Like all industries, the construction industry has struggled during the current COVID-19 crisis. In order to survive, changes are being made, as construction projects are halted or slowed, and office blocks sit empty. The industry is reshaping strategies and procedures and launching ambitious initiatives to come out of this difficult time even stronger. These actions […]
Mactavish, the specialist outsourced insurance buyer and claims resolution expert, is warning that in the current economic climate, construction PI insurance premiums are likely to continue rising dramatically over the next few months, and could become financially unviable for some companies, forcing them out of business. It also warns there are growing coverage restrictions in […]
The total value of construction contract awards in July 2020 was £6.3bn which compares to £3.1bn in June and £1.6bn in May, underlining the magnitude of the growth trend for contract awards over the last two months. The number of awards has also increased in July to 860 which is an increase of 80.3% on […]
New research from Insolvency Support has unveiled that an average employee would take a £2,665 pay cut per year in order to continue working from home when the pandemic ends, equating to £222 per month. It has already been noted that British office workers have returned to their desks at a much slower pace than […]
RJ McLeod took this month’stop spot after being appointed the main contractor for the £500m Viking Wind Farm in the Shetland Isles, Scotland. This large development will consist of 150 wind turbines and work also includes the construction of substations, quarries and 62 miles of access road. The runners up spot this month is ISG […]
The Centre for Policy Studies today welcomed the publication of the government’s White Paper, ‘Planning for the Future’. The think tank praised the focus on delivering sufficient new build homes and home ownership, which has been the core focus of its own work on housing. The CPS also welcomed the move towards giving communities greater […]
The Q2 2020 RICS UK Construction and Infrastructure market survey results predictably show a contraction in output, as workloads decline across all sectors. Anecdotal commentary from respondents also suggests that labour shortages, some due to furlough, and difficulties in acquiring materials through the supply pipeline are causing projects to stall. To gauge the impact of […]
Mactavish, the specialist outsourced insurance buyer and claims resolution expert, warns the construction insurance market is growing increasingly distressed and that premiums, which were already rising prior to the impact of Covid-19, have been turbocharged in the period since lockdown commenced. As well as rising premiums, it warns construction companies to expect considerable erosion in […]