According to GlobalData, the value of the UK construction market is forecast to decline by 1.9% in real terms in 2024, having grown by 4.1% in 2023. 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 office building construction projects that commenced in the UK in Q1 2024, according to GlobalData’s construction projects database.
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1. 1-2 Broadgate Redevelopment
The project involves the construction of a 50,168m2, 14-story office building in Greater London.
Construction work started in Q1 2024 and is expected to be completed in Q4 2025.
It is part of the $1,971 million investment plan for the 12.9ha of land at Broadgate Campus where the construction is already underway.
2. Typhoo Tea Factory Mixed-Use Complex
The project involves the construction of a 74,322m2 mixed-use complex in Birmingham.
Construction work commenced in Q1 2024 and is expected to finish in Q4 2026.
It aims to secure a BREEAM outstanding rating and an ‘A’ energy performance certificate (EPC) for the building.
3. Baltic Exchange Building Renovation
The project involves the renovation of an office building in London.
Construction work started in Q1 2024 and is forecast to complete in Q4 2027.
The project aims to provide a BREEAM outstanding, zero carbon, first-class office building.
4. Tea Factory Office Complex
The project involves the construction of an office complex of 7,525m2 on 2ha of land in Digbeth, Birmingham.
Construction work commenced in Q1 2024 and is expected to be completed in Q2 2026.
5. Pall Mall Revamp
The project involves the redevelopment of the Pall Mall building into an 8,361m2 innovation hub in Manchester.
Construction work started in Q1 2024 and is expected to be completed in Q4 2025.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
