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December 9, 2020updated 22 Oct 2021 11:45am

BAM starts construction on CEG’s EQ development in England

BAM has started main construction work on Commercial Estates Group’s (CEG) 200,000ft² EQ development in the heart of Bristol City Centre in England.

BAM has started main construction work on Commercial Estates Group’s (CEG) 200,000ft² EQ development in the heart of Bristol’s city centre, the UK.

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The global construction industry is in the process of recovering from the unprecedented disruption caused by the COVID-19 pandemic, due largely to the policies enacted to contain the spread of the virus. Although recovery is underway, there are still major risks stemming from new waves of COVID-19 infections and the reintroduction of restrictions on economic activity. Nevertheless, GlobalData predicts global construction output to grow by 5.3% this year. Global recovery in the construction industry will be far from uniform, and GlobalData’s Construction Risk Index (CRI) provides a standardized view of the country-level risks facing the construction industries in 92 major developed and emerging markets around the world. The CRI focuses on 4 key risk pillars, these being:
  • Financial risk
  • Political risk
  • Economic risk
  • Market risk
In the latest update of the CRI, the model has been adjusted so that certain elements of economic and market risk assess a country’s performance relative to its pre-Covid-19 setting, so to give the most accurate assessment. Check out our Construction Risk Index to get a complete view of the current market in the wake of COVID-19 disruptions, and best position yourself for the future.
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The company has been appointed to deliver the eight-storey glass construction at 111 Victoria Street, which has been designed as a Smart Tech-enabled building.

Designed by architect Aukett Swanke with sustainability, amenity, health and well-being at its core, the building will feature fewer touchpoints, increased air changes and air quality sensors to benefit occupiers in a world after Covid-19.

In 2012, initial plans for the office building were approved while BAM was named the preferred bidder four years ago.

The EQ building will provide amenities such as a rooftop bar, restaurant and business lounge with a communal terrace, ground floor café kitchen and a 50-seat auditorium, in addition to a fitness suite and break-out space.

The building will provide open plan office floor plates of up to 27,377ft².

In addition, CEG will offer its ‘Let Ready Go’ studio concept and offer internet-ready workstations for businesses.

During the two-year build programme, more than 500 construction jobs will be created every year.

Upon completion, the building will accommodate more than 2,000 people and will deliver £466m GVA per annum from direct and indirect operational jobs.

CEG investment manager Paul Richardson said: “We are making an immediate start on site in order to be in a position to offer 200,000ft² of the highest quality office space ready for occupation by the first quarter of 2023.

“There is an acute shortage in supply of Grade A offices in Bristol and we’ve already seen a record number of pre-let office deals in the city this year.”

The building targets the BREEAM Outstanding rating and provides photovoltaic units on the roof, as well as rainwater harvesting and efficient heating, cooling and lighting systems.

Aukett Swanke UK managing director Luke Schuberth said: “It has been a joy to design EQ, to stretch the boundaries of office design with health and well-being and a sustainable ethos that is at the core.”

CEG appointed Jones Lang LaSalle and Cushman and Wakefield to launch the building to market.

The proposed office will create 2,081 direct FTE jobs, once operational.

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Free Report
img

Assess the market with our Construction Risk Index (CRI)

The global construction industry is in the process of recovering from the unprecedented disruption caused by the COVID-19 pandemic, due largely to the policies enacted to contain the spread of the virus. Although recovery is underway, there are still major risks stemming from new waves of COVID-19 infections and the reintroduction of restrictions on economic activity. Nevertheless, GlobalData predicts global construction output to grow by 5.3% this year. Global recovery in the construction industry will be far from uniform, and GlobalData’s Construction Risk Index (CRI) provides a standardized view of the country-level risks facing the construction industries in 92 major developed and emerging markets around the world. The CRI focuses on 4 key risk pillars, these being:
  • Financial risk
  • Political risk
  • Economic risk
  • Market risk
In the latest update of the CRI, the model has been adjusted so that certain elements of economic and market risk assess a country’s performance relative to its pre-Covid-19 setting, so to give the most accurate assessment. Check out our Construction Risk Index to get a complete view of the current market in the wake of COVID-19 disruptions, and best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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