BNP PARIBAS REAL ESTATE’S BUILDING CONSULTANCY SECURED CONTRACT WINS WORTH OVER HALF A BILLION DURING LOCKDOWN
BNP Paribas Real Estate’s Building Consultancy team has secured new project instructions to a value of nearly £600m during the lockdown period for fund and bank monitoring.
The new contract wins include industrial and logistics, mixed-use and residential schemes in various locations across the UK and totals 3,433,400sq ft. Secured industrial projects alone have more than doubled for BNP Paribas Real Estate’s Building Consultancy between Q3 2019 to Q2 2020.
Ian Bragg, Head of Building Consultancy, BNP Paribas Real Estate says:
“The business wins demonstrate that, despite these unprecedented times, clients have stayed committed to their projects. The pandemic has also accelerated the need for more logistics space to meet fast growing demand from the online market. Total take-up for industrial space in the UK in H1 is up 47%, on the same period in 2019.
This has motivated funders and developers to press ahead with speculative industrial schemes, which at the same time has accelerated demand for our services. In times of uncertainty, it also becomes more important than ever for clients to ensure that risks are minimised and that the building process is monitored carefully to avoid unnecessary delays and unexpected costs. Our longstanding relationship with many of our clients is another important factor; clients feel more confident to go ahead when a trusted partner identifies potential risks at an early stage and helps mitigate them with or by working alongside the wider development team.”
The Building Consultancy team has been appointed to support and advise its clients on these projects from a very early stage. The team’s work includes everything from appraising the scheme at the design / planning phase, endorsing entering into the building contract, and monitoring the works through construction including reviewing cost, design, quality, statutory compliance, ESG, health & safety, and contractual matters. The aim is to safeguard the client’s interest and to ensure the project is delivered to the highest standards and meets the original brief.
Contract wins overview
- 6 logistics schemes - 1,250,000 sq ft, various locations across the UK, including Bedford, Banbury, Bloxwich, Bradford and Warrington.
- mixed-use accommodation - 1,161,000 sq ft, London
- 852 residential units – circa 1,022,400sq ft, across the UK
One of the projects include Super B Bradford, a 225,000sq ft speculative industrial and logistics scheme by British Airways Pension Trustees Ltd and Tungsten Properties (image attached).
The Building Consultancy team is one of BNP Paribas Real Estate’s most well-established business lines set up over 60 years ago. The team’s insight and varied client base is more relevant than ever before in today’s challenging market. The business line comprises over 50 members of staff across six offices providing services including building surveying, project management, architectural design and cost consultancy.