According to GlobalData, the value of the UK construction market is forecast to decline by 1.9% in real terms in 2023, having grown by 4.1% in 2022. A key growth market will be the infrastructure market, with output rising by 3.1% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the top five commercial and leisure construction projects that commenced in the UK in Q4 2023, according to GlobalData’s construction projects database.
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1. Birmingham Logistic Complex
The project involves the construction of logistic facilities ranging from 1,858m2 to 9,2903m2 on 297ha of land.
Construction work started in Q4 2023 and is expected to be completed in Q1 2034.
The project aims to provide logistic facilities to the industries in the region. It will create 8,500 direct jobs and 8,100 indirect jobs. Buy the profile here.
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2. West Midlands Strategic Rail Freight Interchange
The project involves the construction of a 743,224m2 warehousing rail freight terminal on 297ha of land in Staffordshire.
Construction work commenced in Q4 2023 and is expected to finish in Q4 2034.
The project aims to build a freight interchange that links directly to the West Coast Mainline and reduces the costs of moving freight and reduces HGV trips on the national and regional road network and provides BREEAM Excellent energy-certified storage and distribution facilities. It will bring £427 million to the local economy and an extra $1,180 million to the national economy. Buy the profile here.
3. The Oaks Campus Student Accommodation
The project involves the construction of a student accommodation complex comprising four buildings with 1,209 beds in Westwood Business Park in Coventry.
Construction work started in Q4 2023 and is forecast to complete in Q4 2026.
The aim of the project is to provide better student accommodation with leisure facilities to the students in the region. Buy the profile here.
4. Telehouse South Docklands Building Refurbishment
The project involves the refurbishment of a data center in London.
Construction work commenced in Q4 2023 and is expected to be completed in Q2 2024.
The Telehouse South Docklands building will be refurbished with a roof-top plant and replaced with electrical plants. Buy the profile here.
5. Erdington Warehouse Complex
The project involves the construction of two warehouse buildings comprising a 42,000m2 gross floor area (GFA) and a 57,000m2 GFA in Birmingham.
Construction work started in Q4 2023 and is expected to be completed in Q3 2024.
The project is being designed under the BREEAM excellent and EPC A Certification guidelines. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
