Construction

HMRC Stratford hub celebrates topping out ceremony before it becomes home to Brexit preparations

The HMRC hub topping outs are well underway and we recently witnessed the new HMRC London office, Stratford, reach its highest point.

The 297,328 sqft headquarters will home 4,400 public servants and is due to be complete in late 2020. When it was leased, the hub was projected to base 3,800 staff, but this has now risen in numbers to accommodate work on Brexit.

TFT has been appointed as fund monitor by L&G since January 2018 and is providing monthly reporting to the fund on various aspects of the project.

Katie Brooks, Associate at TFT who lead the monitoring team on the development said:

We are pleased to represent L&G on this exciting and high profile investment. The team at Westfield has been focussed on delivering the building to programme, and we have been impressed with the speed at which it has been constructed.

The ceremony was attended by the developers, Unibail-Rodamco-Westfield, funders Legal & General, senior executives at HMRC amongst numerous other stakeholders.

This is one of a portfolio of 9 similar developments funded by L&G that TFT is monitoring across the country.

UKGBC, TFT and partners produce new Circular Economy guidance

Many people will be familiar with ‘the circular economy’, as the concept and terminology rises up the political and business agenda. But how can we turn thought into action in our own industry? UKGBC and TFT teamed up with stakeholders across the industry to publish new guidance to do just that.

Circular economy principles can have different implications across different industries, products or services – but The Ellen MacArthur Foundation identifies these three key traits of a successful circular model:

  • Design out waste and pollution
  • Keep products and materials in use
  • Regenerate natural systems

It’s hard to name an industry which is doing all these things, but as we face more strain on resources of all kinds, it’s incumbent on everyone to improve models which generate waste and pollution for sustainability.

“…the quantity of reused materials in construction has actually decreased since 1998. At the same time, the rates of extraction of materials in our fast-developing world are already way beyond planetary capacity.”

Sunand Prasad, Founder Penoyre & Prasad and Trustee of UKGBC

We face a big challenge to employ circular principles across the built environment and the supply chain which feeds it, due to the systemic change which is needed. Closer coordination is one way to achieve this.

To that end, TFT partnered with UKGBC and a range of construction industry stakeholders to formalise the steps to meet an industry-wide circularity objective.

The first output of this work is a guidance document, focusing on RIBA stages 1 & 2 (Preparation & Brief and Concept Design, respectively). Looking closely at setting a project up for circular success, the guidance provide practical steps to realise the commercial value of circular construction, from ensuring supply chain effectiveness to informing project management and mitigating risks along the way.

If you’re interested in learning how the guidance can be applied to maximise the long term value of your building project or your wider portfolio, contact Helen Newman.

The full guidance can be downloaded from UKGBC, here.