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A recent revival in detailed planning approvals on major new offices and large hotel/leisure schemes bodes well for future construction work pipelines across a series of cities and regions, particularly London, Manchester, and Yorkshire & Humberside.
Recent confirmation by Warner Brothers that it is going ahead with a major expansion of its film studios near Watford has put the significant amount of construction work being created by the screen sector in the spotlight.
As companies seek to rebuild and reconfigure their business space to accommodate hybrid working, the offices sector can look forward to two years of growth with particularly strong opportunities in London.
The construction industry is forecast for a strong bounce back next year as new opportunities appear in warehousing & logistics, office, and retail refurbishment, fit out, and the repurposing of redundant commercial premises.
Government investment is boosting the market for air source heat pumps with £409 million being ploughed into helping 144 public sector buildings drive down their carbon emissions by shifting away from gas boilers.
A rare piece of economic good news emerged in a recent report suggesting that the drive for ‘levelling up’ is having an impact and generating some significant new construction work in the North of England thanks to a sharp rise in overseas investment in the area.
Construction growth has faltered after a post-pandemic boost at the start of last year but there will be a return to stronger growth in the short-term according to the latest industry construction forecast from Glenigan.