According to GlobalData, the value of the UK construction market is forecast to decline by 1.9% in real terms in 2023, having grown by 4.1% in 2022. 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 2023, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Central Quay Mixed-Use Community
The project includes the construction of a 232,258m2 mixed-use community in Cardiff, Wales, UK.
Construction work started in Q1 2023 and is expected to be completed in Q4 2029.
The project aims to provide better residential, commercial, and educational facilities in the region.
2. 70 Gracechurch Street Office Complex
The project involves the construction of a commercial building comprising a 33-story 34,000m2 Class E office complex, in London.
Construction work commenced in Q1 2023 and is expected to finish in Q4 2028.
The project aims to be built on the site of a Marks and Spencer building on the corner of Gracechurch Street and Fenchurch Street in the city close to the Walkie-Talkie. And meet the growing demand for office accommodations in the region. Buy the profile here.
3. North Quay Mixed-Use Community
The project involves the construction of a 355,000m2 mixed-use facilities across 3.28ha of land at North Quay near Crossrail station in London Docklands.
Construction work started in Q1 2023 and is forecast to complete in Q3 2026.
The aim of the project is to offer a great new place to work and to live, with an extensive public realm, high-quality retail, and new connections, next to a new railway station.
4. Canary Wharf Tower Renovation
The project involves the renovation of a 42-story office building in Greater London.
Construction work commenced in Q1 2023 and is expected to be completed in Q4 2025.
The project aims to fully renovate the existing building to create flexible work and collaboration spaces alongside well-being zones for its overall 9,000 employees in the building. Buy the profile here.
5. Begbroke Science Park Expansion
The project involves the construction of two new state-of-the-art research buildings totaling 12,541m2 on 14ha of land in Begbroke Lane, Yarnton, Kidlington, Oxfordshire.
Construction work started in Q1 2023 and is expected to be completed in Q1 2024.
The project aims to add additional research and innovation facilities and create new high-value, highly skilled jobs. The project aims to meet the BREEAM Excellent and WELL Gold Enabled certifications. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
