Legal & General Property (LGP) has entered into a partnership with Mitsubishi Estate London to build the £275M Hammersmith office scheme in London, UK.LGP has sold a 50% stake in the project, due to start next month, to Mitsubishi Estate London — forming the third partnership between both companies. The 23,000sq m building project has planning consent from Hammersmith & Fulham Council and will consist of a basement, ground and 11 upper-storeys, and an extensive public realm, including a new urban park and plaza.It will also include four shop or leisure units and an 110sq m work lobby café.Simon Wilkes, LGP's head of business space development, said: “245 Hammersmith Road will be much more than just an office building; we are creating a destination with modern working and lifestyle trends at the core of our thinking. "There is still a lack of Grade A development taking place which means we are set to benefit from rental growth. “We are already seeing high levels of interest from blue chip occupiers, who are particularly drawn to the design and location of the scheme, especially given the competitive nature of the rents compared to the West End."The scheme, designed by Sheppherd Robson, is expected to be complete by the first quarter of 2019.<iframe src="https://timetric.com/c/HHEXNFX/chart/" style="width:500px;height:350px;border:0;" frameborder="0" scrolling="no"></iframe>
Veidekke and its subsidiary Arcona have won a contract to build Vitartes’ St Erik's Eye Clinic in Stockholm, Sweden. The SEK1bn ($116.3M) contract will be executed on a turnkey basis, with its first part, valued at SEK320M ($37.2M), set to commence immediately.The facility will be connected to the new Karolinska Hospital, an area where a number of other development projects are being carried out. The new 42,000sq m clinic is expected to achieve the Sweden Green Building Council's Gold Standard certification.Arcona’s CEO Jeanette Saveros said: "We are proud to have been selected to undertake yet another major project with Vitartes. This strengthens our position as the leading builder of large projects with challenging external framework conditions."Here our collaborative model with involvement and VDC comes into its own where we combine and exploit the group's broad expertise."Planning and design work have already begun, and the new building is set to be complete at the 2019/2020 turn of the year.
The African Development Bank (AfDB) has approved $245M in loans and grants to the governments of Uganda and Rwanda to finance a transport project.In Uganda, the bank’s $151M loan will be used to support the construction of a 23.7km expressway, which will facilitate the journey between Kampala (Busega) and Mpigi on the Northern Corridor — a major trade route in the region.In Rwanda, the $94M bank loan will finance the rehabilitation of a 208km road in eastern Rwanda. The project also involves the construction of two cross-border markets at Kagitumba and Rusumo.Amadou Oumarou, AfDB’s Transport & ICT Department director, said: “The project will contribute to poverty reduction, improve the quality of life of people in the area by providing socio-economic facilities. “It will also contributes to agriculture development and food security; and facilitates industrialization through reduced transportation and logistics costs.”The overall cost of the project is estimated at $376.5M, and will be co-financed by AfDB ($244.6M), Japan International Cooperation Agency ($56.3M), European Union ($22.4M) and the governments of Uganda and Rwanda ($53.2M).
Broadbridge LA joint venture has secured a $164.5M loan from Jamestown to redevelop the 102,000sq m Broadway Trade Center in downtown Los Angeles, California.The loan will be used to support the eight-storey building’s extensive refurbishment, which is currently in progress. Plans will also include a food marketplace, bars and restaurants, retail space, a hotel, a rooftop park and flexible office space with large floorplates.Jamestown’s president Michael Phillips said: “The Broadway Corridor is poised to make a comeback as the urban heart of Los Angeles, and we’re pleased that we can assist as a lender on this transformative redevelopment project.“We are committed to investing our resources in projects that transform spaces into true destinations through innovative mixed-use components, and we’re confident in the future of the Broadway Trade Center and the surrounding neighbourhood.”
UK-based house builder Hill has received planning approval from London Borough of Waltham Forest for its £100M residential project in East London, UK.The development, to be located in Lea Bridge, will include the construction of three residential towers, comprising 300 homes.Designed by Pollard Thomas Edwards Architects, the project will also feature 2,000sq m of commercial space and a gym. The site will benefit from the recently re-opened Lea Bridge rail station and new cycle routes — due to be created through Transport for London’s Mini Holland scheme.Hill’s chief executive Andy Hill said: “East London remains one of the capital’s most exciting areas for regeneration. “We’re tapping into this growing momentum, bringing homes, offices and a host of amenities to an area which previously suffered due to a lack of investment.“Working closely with the London Borough of Waltham Forest, these proposals will breathe new life into the area, becoming a catalyst for further regeneration and investment.”Construction work on the site will start in autumn 2016 and will be completed in summer 2019 — with the first apartments launching for sale in early 2018.
Cheshire East Council’s cabinet has given the go-ahead to the £90M Congleton link road in Cheshire, UK.The new 5.7km road will run to the north of the town, South of Eaton, and will link the A534 Sandbach Road with Sandy Lane, to the A536 Macclesfield Road — providing a new village crossing at the River Dane.The project is set to enhance connection with other major towns and the motorway network, and improve the residents’ quality of life — through traffic reduction and better air quality.Half of the link’s cost will be funded by the central government, while £23M will come from developers and the remaining £22M will be met by the council.The scheme will now be referred to the Secretary of State for communities and local government for a final decision on the planning application, allowing time for the Council’s next steps — land acquisition and appointment of a contractor.Councillor David Brown, Cheshire East Council cabinet member for highways and infrastructure, said: "I am pleased that both Cabinet and the strategic planning board have reached these decisions."This is the biggest road infrastructure scheme undertaken by this Council and I know it will be of enormous relief to many people in Congleton to know that it is proceeding."The link road will relieve traffic congestion in Congleton and, as a result, will boost the local economy by opening up new sites for development and create new opportunities for businesses and workers."The project has the potential to create 3,400 jobs in the region.
The European Bank for Reconstruction and Development (EBRD) has provided a €150M loan for the construction of new sections of the D4 highway and the R7 expressway in the Slovak Republic.The project includes 27km of new sections from Jarovce to Ivanka Sever and Ivanka Sever to Rača of the D4 highway — part of the comprehensive Trans-European Network development programme. Together with the R7 expressway, they will provide a connection between the D1 and D2 highways.The 32km R7 expressway from Prievoz to Holice will connect the D4 and D1 highways and provide access to the city of Bratislava from the southeast.The loan is part of a larger financial package totalling €875M provided to the concessionaire Zero Bypass Limited under a public-private partnership (PPP) scheme. Zero Bypass Limited — owned by Macquarie Corporate Holdings Pty Limited, Cintra Infraestructuras International and Porr AG — secured the contract to design, build, finance, operate and maintain the newly-constructed segments of D4 and R7 for 30 years after an open tender process.Sue Barrett, EBRD director for transport, said: “This is a very important project and the EBRD is pleased to join forces with other financiers to make it happen. “The new road sections will play an important role in easing traffic congestion around Bratislava, open up access to other parts of the country and connect the Slovak Republic with Trans-European Networks.”
AECOM’s unit Tishman Construction has been appointed to manage construction of an $1bn commercial office development in Manhattan, New York.The 1,401ft-tall skyscraper, called One Vanderbilt, will be located in the heart of New York’s East Midtown business district. The 58-storey building will feature 149,000sq m of Class A commercial space, a public transit hall at the base of the building connected to a 1,300sq m public plaza, and $220M of public transit improvements to the Grand Central transit hub.Upon completion, the project is expected to be the second-tallest office tower in New York City. Tishman will construct the office building, expected to achieve LEED v4 Gold certification, for New York City-based commercial property owner, SL Green Realty Corp. AECOM’s chairman and CEO Michael Burke said: “As the quintessential New York builder, we are proud that SL Green is entrusting us to build this iconic structure that will help reshape the skyline.“We are excited to extend our expertise in delivering the highest-performance buildings as part of the dramatic transformation underway in Midtown East, one of the premier business districts in the world.”Construction work is set to commence in 2016 and is expected to be complete in 2020.
UK-based developer Elliot Group has unveiled plans to construct three 34-storey residential towers in Liverpool.Designed by architects Falconer Chester Hall, the development, to be located on the northern gateway to Liverpool’s business district, will feature more than 1,000 new homes. The £250M project, set to become the largest single private housing project in the city, will be developed on land acquired from Liverpool investors, the Smith family, on Leeds Street.Elliot Group director Elliot Lawless said: “We wanted to create a statement of confidence for people entering the city.“If our proposals are approved then they will go a long way to helping Leeds Street fulfil its potential as a dramatic gateway along the northern edge of the city centre.”Elliot is now in discussions with Liverpool council’s planning and design officers and expects to submit a planning application in early September.
Finnish construction company YIT has announced that the Mall of Tripla project in Helsinki secured a €300M financial package.The financial package will be provided by a group of banks, including the European Investment Bank (EIB), the Nordic Investment Bank (NIB), Danske Bank and Handelsbanken.The €600M shopping mall is set to become the largest shopping centre in Finland in terms of the number of retail spaces.It will have 85,000sq m of leasable floor area for a total of 250 tenants, and a car park with 2,300 spaces. The development will feature new solutions for recycling, water treatment and waste processing, allowing the constructors to apply for a Platinum-level LEED certification. The project is expected to be completed in late 2019.
Wigan Council’s planning committee has approved phase one of the £300M North Leigh Park regeneration scheme in Leigh, Wigan.The long-term plans for the 185-acre North Leigh Park — to be delivered through a private-public partnership between Guernsey-based Long Port Group and Wigan Council — include 1,800 new homes.Phase one will deliver 162 new homes, along with a new access point, green open spaces and wildlife habitat.Additionally, the project will feature a 51,000sq m business park, 19-acres of green infrastructure and a community centre.The approval of the first detailed plans follows the granting of outline planning permission in February 2013.Full remediation of the site is anticipated to take 18 to 24 months and will be completed in 2018.
John Holland has been awarded a $324M early works package for Melbourne Metro in Victoria, Australia.John Holland will be responsible for excavating shafts in the centre of Melbourne as part of the preparation works for the tunnel and five new underground stations.The contract will also include the excavation of open shafts adjacent to Swanston Street to enable the underground construction of two new city stations built as part of the $10.9bn project.Excavation of the CBD North Station will include two shafts at Franklin and A’Beckett Street, which will be covered by acoustic sheds to minimise noise for neighbouring residents and offices.According to John Holland, the construction of CBD South will include the partial demolition of the car park underneath City Square.Other works in the package include the relocation and protection of up to 100 utilities, including gas, power and telecommunications services, and the 120-year-old brick main sewer line under the Domain interchange.Works are expected to commence within weeks, with work on the stations’ shafts to begin in 2017, after the completion of the Environment Effects Statement (EES) that is currently underway and the project’s formal planning approval.
UK-based developer Ashfield Land has received planning approval from South Gloucestershire Council to construct an £100M office building at Bristol Parkway Station.The 19,000sq m HQ office project, named The Approach, will be developed on the site located off Hunts Ground Road, immediately east of Bristol Parkway Station.Ashfield Land believes that the project’s rail connections will be maximised with the electrification of the Great Western line — which is set to reduce journey times and increase frequency to London and other destinations into South Wales — and the opening of Crossrail in 2017/18. A new link road will also be built offering direct access to the M32.Ashfield‘s land director James Digby said: “Bringing 19,000sq m of excellently-connected office space forward is a strong sign of confidence in the Bristol occupier market. “The area has a strong track record in attracting major organisations particularly in financial services, defence and aerospace. The approved plans maximise the site’s location and public transport connectivity and will offer a stand out scheme for any corporate occupier.”The project is expected to be complete in 2018.
Dominion subsidiary Dominion Virginia Power has started work on its 1,588MW Greensville County Power Station in Virginia, USA.Construction on the new $1.3bn facility follows the plant's air permit approval by the Virginia Air Pollution Control Board. According to the company, the air permit, issued on June 17, was the last regulatory hurdle the power plant had to clear before proceeding. Dominion's Generation Group CEO Paul Koonce said: "This is terrific news for Dominion, its customers, the Commonwealth, Greensville County and all of Southside Virginia."We are excited about the task ahead and are looking forward to getting this state-of-the art power station operating and providing energy to more than 400,000 customers by 2019."The new plant will be the company's second major generation project in Southside, being the first Brunswick County Power Station, which started generating electricity in April.
Whaha Capital subsidiary Waha Land has signed an AED426M ($116M) financial deal with Emirates Islamic Bank for Stage 2 of its Almarkaz light industrial real estate project in the United Arab Emirates.The 1.5sq km development is located 25km south of Abu Dhabi city. Stage 2 of the project, to be built in two packages, will include an additional 187,000sq m of premium industrial and logistics facilities, as well as retail and commercial amenities.Package 2a, to be delivered by Ali & Sons Contracting L.L.C, consists of 92,500sq m of industrial and logistics facilities, and retail and commercial amenities. The first buildings will be available for occupancy in June 2017, while the entire package is expected to be complete by the fourth quarter of 2017.Further development will include flexible industrial building sizes, fitted industrial units, warehouse and storage facilities, commercial offices and food beverage outlets.Hazem Saeed Al Nowais, Waha Land’s chief executive officer, said: “Almarkaz has proven extremely popular because of the quality of the facility, and its excellent location as a hub in transport infrastructure.“This success has enabled the project to achieve attractive financing. Building on the success of Stage 1, we are moving ahead with our planned development, which aims to meet the needs of the Abu Dhabi manufacturing and logistics market in addition to SME’s.” Almarkaz’s Stage 1 comprises 90,000sq m of industrial and logistic units, which are already fully leased.
India-based infrastructure firm Gayatri Projects has won an order worth INR7bn ($103.6M) from City and Industrial Development Corporation of Maharashtra (CDICO) for the Navi Mumbai airport.The scope of the work includes the development of land for the Mumbai International Airport Package-III project.Gayatri Projects said in a stock exchange filing: "The construction and development of airports will prove to be a major source of business for infrastructure companies, given that the Indian aviation sector is likely to see investments of over $120bn for the development of airport infrastructure and aviation navigation services over the next decade."According to the company, the project is in line with the management’s decision to follow an asset-light model and will further strengthen its position in the Indian construction market.
Strabag’s Swiss subsidiary has secured an €100M contract for the construction of an office building and a production building for Siemens in Zug, Switzerland.The contract, awarded by Siemens Real Estate, will be executed on a design and build basis with Strabag AG Switzerland serving as the main contractor for the project.The office building will be constructed using building information modelling (BIM), which guarantees a level of security in terms of cost, design and scheduling.The seven-storey facility will offer 31,700sq m of space on every floor for mechanical/electrical, seminar and conference rooms, as well as an underground car park.The four-storey production building will include production halls, laboratories and offices on 24,000sq m of floor area. An automated transport and storage system will be included on the basement level.STRABAG’s CEO Thomas Birtel said: “BIM.5D is the future of building. The aim of BIM is to digitally collect, combine and link all relevant data associated with the entire building lifecycle. This creates a building data model that basically is a giant synchronised database.“The model simulates for all involved how the building will change as construction progresses, which materials will be required in which quantities at what time, and what consequences could arise from late changes to the design.”Both buildings are to be completed in June 2018.
San Francisco International Airport (SFO) is set to break ground on a $2.4bn project to renovate the airport’s Terminal 1 (T1).Upon completion, the project is expected to meet or exceed the standards of Terminal 2 and Terminal 3 Boarding Area E.The project, expected to receive a LEED Gold certification, will include the design and construction of T1’s north, south and central areas, a new Boarding Area B with enhanced passenger circulation and access to its 24 gates, new passenger loading bridges and new concessions and an improved Boarding Area C.It will also involve a new central area and a mezzanine with connections to the AirTrain and the Central Parking Garage.Work is set to commence in June 2016 and the terminal is scheduled to be completed in 2020.
The state government of New South Wales is set to provide $6.2bn for the Sydney Metro City & Southwest project and $5.8bn for Sydney Metro Northwest.The announcement was made as the tunnels for Sydney Metro Northwest were handed over within budget and 10 months ahead of the schedule.The 2016-17 funding for Sydney Metro Northwest will be used for laying tracks and building eight new metro stations, for the procurement of Sydney’s new fully-automated metro trains and ongoing construction of the 4km skytrain.Work on the Sydney Metro Northwest, expected to open in the first half of 2019, has commenced with the laying of tracks. The 2016-17 funding for Sydney Metro City & Southwest will be used for the tender process for twin tunnels from Chatswood to Sydenham and early construction work in 2017, including building demolitions, planning and design work.The first tunnel boring machine will be in the ground before the end of 2018, with services in the Sydney Metro City & Southwest expected to start in 2024.
Skanska in a joint venture with Gates Construction has secured a $200M contract from Lee Memorial Health System to expand and refurbish the Gulf Coast Medical Center in Fort Myers, Florida.The project will include the creation of 34,000sq m of new space and about 4,500sq m of renovations. It will also involve three additional floors, as well as many horizontal expansions. Furthermore, the development will include a parking facility which will be able to accommodate 1,300 vehicles.Work on the project will commence in June 2016 and is set to be completed in February 2021.