CONSTRUCTION FIRMS: 46% Report Financial Distress

The Q3 Begbies Traynor ‘Red Flag Alert’ report has highlighted “serious concerns” with regard to the outlook for the construction, real estate and property services sectors, as critical financial distress jumps 46% and 38% respectively on Q2.

Tens of thousands of UK companies are in a critical financial situation as the pressure of higher interest rates, resilient inflation, and weaker consumer confidence take their toll.

These headwinds are increasingly widespread, particularly within the construction and property sectors, with over 70,000 construction firms and more than 51,000 real estate and property services firms in significant financial distress.

Almost 6,000 construction firms are in much more critical situations.

With many UK companies accustomed to years of near-zero interest rates and access to government-backed Covid support loans, the new world of elevated interest rates will continue to push many businesses to the brink of failure.

Julie Palmer, partner at Begbies Traynor, said:

“The construction industry, which has long been a bellwether for the health of the economy, looks particularly vulnerable with over 70,000 firms now in significant financial distress and circa 6,000 in much more serious critical financial distress — often a precursor to formal insolvency.

“These businesses must now struggle through a period of inflation-eroded margins, weak demand, and a looming recession.

“It is likely to be an insurmountable task for many.

“The debt storm, which has been brewing for years — but had been held off by several measures to provide breathing space for companies — may very well break.”

Ric Traynor, executive chairman at Begbies Traynor, commented

“I am hopeful that stabilising inflation and interest rates will start to slow the rising levels of distress in the economy in due course, but history dictates that this will take some time and insolvencies often peak long after a recovery has started.

“The ongoing geo-political uncertainty — which is particularly affecting commodity and energy prices, coupled with high interest rates, weak consumer demand, sticky levels of inflation, and an anticipated recession over the coming year — may simply prove too much for many of these distressed businesses.

“So, given the challenges the economy still faces, the outlook remains bleak, and I expect many more ‘zombie’ companies to continue to fail for some time to come as the impact of this economic backdrop makes them increasingly unviable.”

Source: Development Finance Today

 

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FMB Reports Workload Decline

There has been a sharp decline in workloads, enquiries, and employment, amongst small building companies with 40% of FMB builders reporting a decrease in the number of work enquiries according to the latest State of Trade Survey from the Federation of Master Builders (FMB).

The good news is that the repair, maintenance and improvement (RMI) sector continues to remain buoyant with most FMB members reporting increased workloads.

Brian Berry, Chief Executive of the FMB, said:

“The RMI sector remains fairly strong this quarter with more FMB members still seeing an increase in workload than a decrease, but worrying signs are on the horizon with a sharp drop off in enquiries.”

Berry continued: “House building continues to struggle with more members reporting less workloads than there are reporting more. There has also been a sustained decline in enquiries, suggesting the picture will continue to worsen. Housing is rising up the political agenda as evidenced at the recent party conferences and this new data highlights why the Government should be concerned at a time when we need to be building more, and not fewer, new homes.”

Berry concluded: “The survey also highlights the continued pressure on bottom lines, with members putting up prices to accommodate for economic adversity and inflationary pressures. Worryingly we’re also seeing over half of small building companies falling below their expected margins. As the Autumn Statement approaches the Chancellor needs to be mindful of steadying a fragile housing market.”

The latest survey for Q3 2023 found:

Market conditions

  • There has been a decrease in total workload, enquires and employment over Q3 of 2023, seemingly driven by a poor performing housebuilding and industrial and commercial sectors.
  • 40% of FMB members reported a decrease in enquiries.
  • RMI reported workloads remain positive, but have dropped off since Q2 2023.

Skills

  • Overall, difficulty in recruitment has slightly increased.
  • 39% of members are struggling to hire carpenters with 35% struggling to hire bricklayers.
  • There has been a sharp upturn in difficulty hiring general labourers, with 34% reporting problems (up from 25% in Q2)
  • Half of FMB members report that jobs are delayed because they are struggling to hire skilled workers.

Impact of changes in prices and costs

  • 71% of members report that material costs increased in Q3 2023 with 55% expecting this to continue into the next quarter, which is an improvement on previous quarters.
  • The impact of increased outgoings has led to 71% of members increasing the prices they charge, with half reporting that the business in on track to make a loss or fall below expected margins.
  • Over a quarter report that they are restricting hiring new staff as a consequence of increased outgoings.

The FMB State of Trade Survey, which is released quarterly, is the longest running survey of its kind to track the experience of small to medium-sized (SME) construction firms in the UK.

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What should the Kings Speech Prioritise?

Thriving local economies are fundamental to accelerating opportunities and growth across the UK. At the heart of local areas are thriving businesses.

But right now, businesses are being held back by a planning system that’s in desperate need of reform. That’s why the King’s Speech should signal the government’s commitment to creating a faster, streamlined and better resourced planning system.  

We need more high quality homes, in places where people want to live and work.   At the same time, businesses need land to invest, innovate and grow.  Across many areas of the country, however, firms are being squeezed out of towns and cities – as good quality land is given over to housing needs.  Achieving the right balance of land for jobs and homes is key to boosting local economic growth and ensuring that businesses and communities can flourish together.

Speeding up the planning system will boost business investment and unlock growth opportunities across the country.   That’s why more resources, skills and technology are needed to boost capacity in local planning authorities, leading to a faster and more efficient service.  Government must fulfil its promise to inject more funds into the system.

More must be done to ensure consistency and certainty for business in the planning process.  Business operates in a global market and we risk losing investment to other parts of the world unless we can give investors the confidence they need.

Planning matters to business. It helps deliver growth, it supports investment, it improves access to skills and underpins supply chains.  A more effective and responsive system can be a springboard to sustainable growth and prosperity for all.

 

Source: British Chamber of Commerce

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Revitalising Turkey After the Earthquake

A new era for Turkey’s ancient city as Foster + Partners appointed to lead design and planning after February earthquake

Design-led revitalisation of Hatay province underway with international consortium developing masterplan, spearheaded by Türkiye Design Council

Internationally renowned Bjarke Ingels Group also appointed architects, alongside Turkish practices DB Architects and KEYM

Following the devastating earthquake on 6 February 2023, Türkiye Design Council (TDC) has brought together the world’s best architects and designers to start the long-term process of revitalising the historic province of Hatay, situated in southeast Türkiye.

TDC has convened 13 design practices composed of leading experts in architecture, design, engineering, environmental sustainability, culture, heritage, and archaeology, including Foster + Partners and Bjarke Ingels Group. Collectively they are working towards a vision for the next era of Hatay that ensures it is resilient, sustainable and liveable for generations to come, while preserving its 2,300-year-old cultural heritage and identity.

At the heart of the initiative is a visionary new masterplan for the city of Antakya (known to antiquity as Antioch), which is being developed under the leadership of internationally acclaimed Foster + Partners, alongside renowned Turkish practices DB Architects and KEYM (Urban Renewal Center), that will lay the foundation for its future. The masterplan is expected to be revealed fully in 2024.

Over the coming months and years, Türkiye Design Council aims to create a new global approach to rebuilding cities after natural disasters that brings together the world’s best architects whilst giving the local community of Hatay a voice in their city’s recovery. Hatay will become a global exemplar for earthquake recovery, taking best practice principles from around the world and applying them to its truly unique context.

With an estimated 80% of the central city of Antakya destroyed during the earthquake, there is an urgent need and opportunity to reimagine the city for future generations with improved climate resilience, connectivity, and social and environmental wellbeing. The location of central districts, administrative buildings and new infrastructure must all be considered.

Described as a mosaic of archaeological and historic religious features, it is the site of two significant ancient cities: Seleukeia Pieria and Antiokheia. Plans will be reflective of this, incorporating the restoration of important sites such as the Uzun Bazaar, churches, mosques, bathhouses and synagogues to reassert its skyline and reputation for religious tolerance, while also being attuned to its natural geography, including the plains of the Asi River.

Türkiye Design Council’s revitalisation planning is being supported by the Turkish Ministry of Environment, Urban Planning and Climate Change, and the Ministry of Culture and Tourism.

 

Mehmet Kalyoncu, Chairman of the Türkiye Design Council, said:

 

“Following the earthquake, we experienced the biggest ever global co-operation for the relief effort. Now, we want this to be the biggest ever global collaboration of experts to shape the next era of Hatay. This province, and its centre Antakya, are places of great significance to humanity, both culturally and historically. It is a centuries-old place, and we have an enormous responsibility to its people and to honour its rich past while ensuring its vitality as a modern city continues for generations to come.

“As the relief effort continues, this is the first step towards Hatay’s next chapter and with the support of our project partners we can ensure it becomes an example for the world of design-led revitalisation. If we are successful in Hatay, we can integrate this spirit of collaboration into other Turkish and international recovery and revitalisation efforts where local people most need them.”

 

Nigel Dancey, Senior Executive Partner at Foster + Partners, commented:

 

“Following the terrible tragedy that occurred on the 6th of February, we are looking forward to working with local communities and collaborating with architecture, planning, urban design and engineering experts in Turkey, to help develop plans for the historic city of Antakya.”

 

Cem Yılmaz, Founding Partner of Keym Urban Renewal Center, said:

 

“Through our partnership, we embarked on a journey to transform Hatay into a beacon of hope. In this journey, I can say that our national and international collaborations will teach both our country and the world to work and live together, addressing one of the most significant urban problems of our time – disconnected public spaces. First, we will revive the city of hope, Hatay, and then it will in turn revive our hopes.”

 

Bünyamin Derman, Founding Partner of DB Architecture, said:

 

“Hatay has been destroyed by major earthquakes at least seven times in history – some experts suggest as many as 33. In February, 80% of the city was devastated, putting Hatay in a unique position. Its archaeological and religious mosaic features require special urban planning, which needs to be combined with the creation of self-sufficient, resilient structures.

“Being a city within walls, Hatay requires a pedestrian-centric approach. Our planning will also revolve around water, forestry, olive cultivation, and livestock, as we retain the prevalent agricultural courtyards incorporated throughout the city while addressing challenges related to global warming, such as emerging flood issues necessitating the restructuring of riverbeds.” 

 

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Housing Forum’s Hopes for Autumn Statement

The Housing Forum’s asks of the Chancellor in his Autumn Statement – November 2023

 

The housing sector is having a very tough time right now – the ending of Help-to-Buy has coincided with a downturn in the market and higher construction costs. In previous downturns, the social housing sector has helped to keep the sector building, but that’s proving exceptionally difficult this time – housing associations are having to direct more of their funds to improving the condition of their existing stock, and local authorities’ finances are just too stretched in every way. If housebuilding slows down, this has a knock-on effect throughout the whole of the housing supply chain. If staff or whole firms are lost, it can be very difficult for the sector to build back up the capacity to deliver new housing at scale, even when the market conditions are better. The government has set a target of building 300,000 homes a year by the mid-2020s, and as we approach this deadline, we’re falling a long way short, with the number being built this year likely to be quite a lot lower than last year.

These are the key things we are calling on the Chancellor to address in the Autumn Statement:

  • More funding for affordable housing is needed to build the much-needed new affordable homes, as well as to help keep the sector as a whole building. Last year, £255m of funds earmarked for affordable housing went unspent and was returned to the treasury. More flexibility is needed to ensure it is spent as intended. £1.6bn was spent on temporary accommodation last year. Without investment in affordable housing, these astronomical costs paid by local authorities will keep escalating, further jeopardising their financial situations.
  • Local authority planning departments need adequate funding to ensure that local plans come forward and planning applications are processed efficiently. One in five councils lack an up-to-date local plan[1] and only one in ten planning departments are fully staffed[2]. If the government wants to meet its target of 300,000 homes a year, councils need the resources to deliver plans to deliver the right housing in the right places.
  • The government has hinted that it is looking at some form of support for first-time-buyers. This can be helpful, though there’s also a risk that inflating buying power across the board simply pushes up prices because supply is constrained. It’s more effective if any subsidy is targeted at getting more homes built. Only by building a lot more houses, including affordable homes, can the shortage of housing be solved. A new ISA scheme to help people save won’t help in the short term. Updating the caps on the value of homes purchasable via Help to Buy ISAs and LISAs seems very sensible, however.
  • The Social Housing Decarbonisation Fund needs the funds released beyond 2025. A longer-term fund with more certainty, less competitive bidding and more flexible timings would generate better value for money.
  • We also very much need a bill to address the hiatus caused by nutrient neutrality rules, which are preventing housebuilding in many areas due to water pollution rules, even though new houses are not a major cause of the pollution. Funding to tackle nutrient pollution at source is needed here.

We’ve also set out our high level asks on housing here:

The Housing Forum: Our 3-point plan for UK housing solutions.

[1] committees.parliament.uk/publications/41521/documents/204416/default/

[2] Revealed: capacity and churn issues facing planning teams | Local Government Chronicle (LGC) (lgcplus.com)

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Two thirds of real estate investors reconsidering UK ventures due to widespread disruption


  • 64% of UK institutional real estate investors are considering shifting their investment abroad
  • Seven in ten (69%) say the move away from the UK is driven by issues including flexible working causing a decrease in the need for office space and high interest rates causing ongoing uncertainty
  • Disruption has caused more than two in five (44%) to pull investments, while nearly one in five (21%) has been forced to repurpose developments, two thirds (62%) from commercial to residential

Gallagher research finds growing risk is threatening real estate investment in UK cities, with 79% of investors expecting losses or reduced returns

Widespread and long-lasting disruption in UK real estate has prompted nearly two thirds of the UK’s top institutional investors (64%) to reconsider funding developments across the nation, according to new research by global risk management and insurance broker, Gallagher.

The study of 300 UK institutional real estate investors responsible for their company’s asset management strategy found a number of factors – including changing working patterns, interest rate rises and inflationary pressures – were threatening their investments. The vast majority (86%) said projects in which they had invested had experienced significant disruption in the last five years, with over a third (37%) of investors saying they believed the level of risk in investing in the UK cities had increased since the pandemic.

Among the factors causing disruption, the most common answer was supply chain issues (41%), while one in five (19%) said it was down to a change in city centre working patterns and a further third (29%) said a fall in demand of city developments in the UK has caused the disruption. Given that many investors will become involved at the construction stage, many are having to review their investment and plans for projects even before they have been completed.

Other impacts linked to the fallout of the pandemic, such as the changing nature of hybrid working, included the pressure on developers to repurpose their project to increase profitability. One fifth (21%) said they either are, or are considering, repurposing buildings usage, with three in five (62%) of those repurposing developments from commercial to residential. Some are being repurposed at construction stage, and others post completion, causing investors risk profiles to significantly change.

The survey of the 300 investors, who represent companies with an average annual revenue of £1.1billion, raises concerns about the viability and growing risk of investment in UK cities. The research found that in the past five years, nearly half (44%) of all investors had pulled investments, a similar number (45%) said they will not achieve the returns expected and one third (34%) stood to make a loss.

When asked why nearly half (48%) of those surveyed are redirecting investment abroad, two thirds (65%) said there was “decreased demand” for both commercial and residential property development in the UK, 44% said UK property was no longer profitable enough and over a third (37%) said political stability was a concern. This lack of demand is also being exacerbated by the UK’s empty property problem with over 650,000* buildings currently unoccupied, with many in the industry calling for investment to be refocused on making these buildings fit for use again.

 

Dominic Lion, Director & Head of Sustainable Real Estate at Gallagher, said:

“Real estate disruption clearly poses a severe threat to the future of investment in UK cities, with key institutional investors facing greater risk. Ongoing delays, changing working patterns and rising interest rates are making it difficult for investors and developers to see a tangible reward on current projects, making the UK less attractive for future investment and investors risk profiles changing more regularly.

“A shift in working habits – from office to hybrid – following the Covid-19 pandemic is evidently decreasing demand for commercial development in UK cities, as projects begin repurposing sites from commercial to residential. This trend is actively impacting returns for firms, and driving a significant shift in investments moving overseas.

Any firm impacted by this disruption needs to consider the risk management implications of their changing investment profile, particularly if they are looking at assets overseas, and should speak to a specialist insurance broker. They will be able to advise on their risk profile across commercial and residential asset classes and different geographies, as well as helping to eliminate long-tail risk from the purchase or sale of property, enabling investors to free up capital for the next commercial opportunity.”

 

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Cheddar Gorge Cheese Company Expands

Image: Cheddar Gorge Cheese Company

  

The Cheddar Gorge Cheese Company expansion plans approved

 

A famous Somerset cheese company will be able to expand after new plans were approved by Somerset Council.

The Cheddar Gorge Cheese Company is based on the B3135 The Cliffs in Cheddar, a short distance from the eponymous gorge, and prides itself on having “the only cheddar made in Cheddar”.

The company, which has been based at its current location since 1989, applied for permission to enlarge its current premises to “expand production and increase the visitor experience via an enhanced tour of the facility.”

Somerset Council has now ruled that this expansion can go ahead, with construction likely to begin in the new year.

The company’s current headquarters lies between Cheddar Gorge and the Cheddar Yeo river – an idea which was targeted for regeneration as part of an (unsuccessful) £19.3m bid to the government’s levelling up fund.

The two-storey extension will include a new bike storage area, making it easier for employees to cycle to and from work.

Plans to expand the company along the same lines were previously approved in 2013, but this permission has now lapsed.

While the expansion will not result in any new jobs being created, the company believes it will boost the number of visitors to Cheddar, meaning more money will be spent both in its own shop and other local businesses.

A spokesman for ArchiWest Architecture and Heritage (representing the applicant) said:

“The proposed new structure is linked back to the existing building through the use of traditional materials and a sympathetic design.

“Accessibility of the building will be improved with the addition of new ramped access points, a new staircase and platform lift.

“The opportunity exists to improve the tourism experience and factory productivity, resulting in a positive impact on the local economy.”

The council approved the plans through the delegated powers of its planning officers, rather than a public decision by its planning committee north (which handles major applications in the former Sedgemoor area).

Construction of the extension is expected to get under way in early-2024.

The government is due to announce details of the third and final round of its levelling up fund in its autumn statement on November 22.

While the round two bid attracted positive feedback from government officials, it is not currently clear whether any of the Cheddar regeneration projects will be put forward in any third round bid.

Source: Weston Mercury

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Housing Crisis, ‘Scattergun’ Policies to Blame

UK politicians have failed to produce a framework for solving the housing crisis, and its scattergun approach to reducing the housing deficit has led to some “abysmal failures”.

In its 58-page white paper, Solving the UK’s Housing Shortage, specialist property finance marketplace Brickflow has called on the government and politicians across all parties to work together to develop a proper framework for addressing the housing crisis.

It has also set out a 10-stage plan as the blueprint for that framework. It also urged the government “crucially, stop this revolving door of housing ministers”.

The report said: “[Labour leader] Sir Keir Starmer has pledged to build the ‘next generation’ of new towns and 1.5mn new homes as part of ‘a decade of renewal under Labour’.

Ahead of what will be a key political battleground in the lead up to the election, the recommendations in our ‘Solving the UK’s Housing Shortage’ white paper, will finally give politicians a comprehensive framework for addressing the housing crisis, which the government itself has failed to produce.

Brickflow founder and chief executive Ian Humphreys, said:

“The housing crisis in this country is a huge white elephant; we all know it exists and everyone appears keen to address it, yet no one has a clear strategy on how to do so.

“This is not surprising, given the mountain of government rhetoric, professing to identify the key issues and suggest solutions, yet often without consideration for the impact these may have on other parts of the housebuilding chain.”

Potted history

The report revealed that while 4.75mn homes are needed across the UK (4.3mn in England), only 0.2 per cent of land in England is vacant to build on.

It said: “Since July this year, 58 local authorities have suspended their development plans, which illustrates why such a framework is so vital to getting Britain building again.”

In 2004 Kate Barker wrote her Review of housing in the UK, in which the lack of new building was highlighted. At the time, she called for 200,000 homes to be built a year.

But there was still a shortage in supply of housing even in 2022, as reported by FTAdviser.

The market has not yet recovered from the effects of the credit crisis in 2008 to 2009 and again in 2009 to 2010, when there were significant year-on-year slumps in houses built.

As Brickflow’s white paper indicated, the House of Lords’s Built Environment Committee’s meeting housing demand report 2021/22, said one in four people will be over 65 by 2050, up from 19 per cent in 2019.

Source: FT Advisor

 

 

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Spiralling Interest Rates Forcing Landlords to Sell Up

Exclusive data from Cornerstone Tax – the UK’s leading property tax consultancy – has revealed that 15% of landlords are considering selling up due to rising costs associated with their property. This news comes in light of last week’s report from The Hamptons Monthly Letting Index which found that UK landlords are collectively paying £15bn in mortgage interest annually – up by £4.3bn over the last 12 months, totalling a 40% increase. The Bank of England’s long battle with inflation beginning in December 2021 has pushed interest rates up from near zero to a historic high of 5.25% as of last month, this has had a particular impact on landlords that took our mortgages on buy-to-let schemes during the era of low interest rates in the 2010s under the assumption that their property would be a safe investment. According to Cornerstone’s data, a staggering 20% of landlords became one without the sufficient knowledge needed and have lost thousands as a result, with average estimates as high as £7500 in 2023 alone.

David Hannah, Group Chair of Cornerstone Tax, highlights how the record number of landlords leaving the rental market is contributing to serious problems of supply and demand within the UK’s major cities. Cornerstone’s research reveals that 19% of tenants have had to change rental properties five times in less than five years through no fault of their own as landlords are forced to either exit the market or pass on these record high mortgage costs onto their tenants. Moreover, as demand continues to outstrip supply within the market, 17% of tenants have also admitted that they have lost out on a property that they wanted to rent in the last two years due to a bidding war.

Despite this news, David argues that hope may be on the horizon for current renters. This year has seen some of the sharpest falls in house prices in over fourteen years, whilst the BoE’s decision to pause interest hikes has allowed the mortgage market to stabilise. A majority of the UK’s largest mortgage lenders have also started slashing their rates for first time buyers, with Halifax offering five-year fixed rate mortgages at less than 5%. These figures should therefore provide some comfort for those looking to escape an overheated rental market besot by the exit of a record number of landlords.

Chairman of Cornerstone Group International, David Hannah, discusses the ongoing challenges facing those within the UK’s rental market: 

“Our data highlights a clear issue in the UK’s rental market, many of these landlords took out mortgages on buy-to-let schemes during a period of sustained low interest rates; fast forward to 2023 and the pressure currently facing landlords is simply too much. Spiralling interest rates and the highest tax burden since the second world war have forced thousands of landlords to sell up, which then puts further pressure on renters due to a lack of stock.

“We are generally seeing an exodus of landlords from the capital and South East, looking towards the North East of England instead. It’s a region that’s seen the highest growth in property prices in the last twelve months, with many seeing it as a much safer investment than the capital.”

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Inspiring STEM ambassador named RICS Matrics Surveyor of the Year


Winners of the RICS Matrics Surveyor Awards, 2023 have been announced

 

Building surveying professional Carolyn Brady has been crowned “Surveyor of the Year” at the RICS Matrics Surveyor Awards, which recognise the most inspiring and influential surveyors who have been qualified for up to 10 years.

 Carolyn, a building surveyor and regional lead partner for global quantity surveyor and construction consultancy firm Rider Levett Bucknall in Belfast, won the Building Surveyor/Control Surveyor of the Year award, in addition to securing the overall RICS Matrics Surveyor of the Year title in the face of stiff competition from other category winners from around the UK.

 Carolyn was one of five women on the list of 11 category winners in a year when female professionals represented just under 45% of those shortlisted, despite making up just 18% of UK surveyors. The number of women shortlisted this year is 150% higher than in 2018, and 350% higher than in the award’s inaugural year in 2014; an increase that has happened in a period when representation of women in the industry has become much stronger with many more female role models.

 The judges described Carolyn as,

 

“Someone who inspires others and supports them with passion and commitment to the profession. Driven by a desire to make a change and transform the sector was clear in this submission and it is why they are a worthy winner.”

“Already a leader in our sector, an incredibly strong application that is very impressive.”

“This candidate is head and shoulders above many in respect of giving back to the profession.”

 

Carolyn is a Liverpool John Moores University building surveying graduate who worked with Atkins in Warrington, England, before starting with Rider Levett Bucknall in 2017.

 Carolyn was responsible for opening Rider Levett Bucknall’s first office in Northern Ireland and in a short space of 18 months, she grew the team to 16 across building surveying, project management, quantity surveying and health and safety disciplines.

 Carolyn has been an active member with RICS over the years, she has been an APC counsellor and assessor for the past four years, and in 2021, Carolyn was appointed the RICS NI regional board, and chairs the RICS Northern Ireland High Street Regeneration Forum.

 Marking a decade of these awards, the winners were announced at a ceremony hosted by TV presenter Cherry Healey on 20th October at The Londoner, Leicester Square. The following surveyors were recognised for their outstanding career achievements in their respective sectors and disciplines:

 

  • RICS Matrics Surveyor of the Year: Carolyn Brady – Rider Levett Bucknall UK Limited
  • Apprentice of the Year: Max Chambers, Arcadis
  • Building Surveyor/Control Surveyor of the Year: Carolyn Brady, Rider Levett Bucknall UK Limited
  • Commercial Property Surveyor of the Year: George Hooton, Hootons Commercial
  • Facilities Management Surveyor of the Year: Jassimran Lall, Vail Williams
  • Land (Rural and Urban) Surveyor of the Year: Ginny Banham, Fisher German
  • Project Management Surveyor of the Year: Laura Hibbs, Pulse Consult
  • Quantity/Construction Surveyor of the Year: Matthew Collett, AECOM
  • Residential Property Surveyor of the Year: Joseph Ellison, Pinnacle Surveyors
  • Valuation Surveyor of the Year: Joshim Uddin, London Borough of Tower Hamlets
  • Ambassador of the Year: Philippa Sampson Bancroft, Greater London Authority
  • Mentor of the Year: Sam Nicholson. Wakefields Chartered Building Surveyors

 

This year’s judging panel consisted of 18 industry leaders including Justin Sullivan, RICS Senior Vice President who said:

“The RICS Matrics Surveyor of the Year Award is a true testament to Carolyn’s dedication to the industry over the years. She is a well-deserving winner who goes above and beyond for not only her company, but also RICS in Northern Ireland.

 “Year on year we see immense levels of talent from high-achieving professionals who are the industry’s future leaders. Each winner is having a profoundly positive impact in their local community, and we’re proud to champion and recognise the hard work of each of these surveyors.”

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