Posted on December 20th, 2023 by Melissa Lawrence
Mark Merritt, the Director of Development Monitoring, reflects on his first year (2023) at Project and Building Consultancy (PBC) and outlines his predictions for the upcoming year that will directly affect his clients and his department in 2024. Mark’s appointment was to lead the newly formed Development Monitoring team, with a mandate to increase PBC’s current client base and centralise the department.
An Overview of Development Monitoring in 2023
“In many respects, it has been a good year, as we have successfully expanded our client base, whilst continuing to deliver excellence to our existing clients.”
Traditionally, Development Monitoring have monitored residential schemes, with some mixed-use, commercial and industrial, however, in the last couple of years Mark has seen an upturn in Purpose Built Student Accommodation (PBSA). Mark said that the Development Monitoring team prides itself on their ability to monitor these schemes, successfully completing 2 in the last year, with a further 3 either on site or about to start on site.
Mark has noticed a reduction in new development deals across the board. There has been a “perfect storm” impacting the viability of schemes – construction costs are significantly up on 2 years ago, the cost of borrowing is 5% more expensive than at the end of 2021, end sales are flat and land prices to date have remained high.
Opportunities for 2024
“There are signs of green shoots of recovery. Land prices are reportedly starting to fall which is seeing some of the schemes that were previously not viable, starting to look achievable.”
Whilst interest rates remain higher than they were 18 months ago, they have stabilised. giving more certainty to developers over their cost of borrowing. Additionally, a lack of development in certain sectors, has meant that the supply chain is seeking work and are therefore more competitive. A Developer recently spoke to Mark about material costs being reduced as some suppliers have a surplus of materials and are offering discounts to reduce their stock. Mark adds that If we consider lower land prices, more competitive tender prices and stabilised interest rates, schemes that have been on hold, may now be able to proceed.
Market Predictions in 2024
“I think it will continue to be a slow start, but come Q2 / Q3, with further stabilised interest rates and tender prices being more competitive, along with possible lower land prices, I think we will see an upturn in schemes proceeding. I am therefore confident that in the latter half of 2024, we will see more development deals proceeding.”
To learn more or make an enquiry, please contact Mark Merritt, Director of the Development Monitoring Team.
To view Development Monitoring’s past work, click here.
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Posted on November 1st, 2023 by Melissa Lawrence
We’re delighted to announce the promotion of our newest Senior Chartered Building Surveyor, Tamara Gonzalez.
David Goedecke, Director at Project and Building Consultancy, said:
“I am delighted to announce that Tamara was promoted to Senior Surveyor. Tamara had what can only be described as a challenging start with PBC, joining just a fortnight before the first Covid lockdown in 2020! She has, however, since shown her resilience, commitment, and unwavering dedication to looking after our clients and growing her experience in the years since, working with key clients including The Portman Estate, Ballymore, and Orchard Street, amongst others, culminating in this thoroughly deserved promotion. Well done, Tamara, and all the best for the years to come with PBC!”
To learn more about Tamara Gonzalez, please click here.
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Posted on March 8th, 2023 by liz
At PBC, we are proud to support and empower our female employees in construction. As part of our celebration, we did a Q&A with Chantel Stead, Tamara Gonzalez and Whitney Senti Boateng who shared their experience and thoughts on the industry and how we can encourage the next generation of women to pursue careers in this field. We’re committed to fostering a diverse and inclusive workplace and supporting women in construction at all stages of their careers. Let’s continue to work towards a more equitable future for all.
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Posted on March 6th, 2023 by liz
PBC is delighted to announce that, for the third year running, the company has achieved Carbon Neutral status, and is committed to help combat climate change.
The company’s day-to-business practices were assessed over a 12 month period by Carbon Footprint Ltd, who help businesses to support environmental change by reducing their environmental impact and minimising their carbon emissions. It reported that PBC had offset 19 tonnes of carbon dioxide through its support of a global portfolio of carbon reduction projects.
PBC Managing Director Paul Philips said: “PBC is committed to helping reduce the impact of climate change, so we are delighted to have been awarded Carbon Neutral status again. I would like to thank our teams and our clients for wholeheartedly supporting us and our sustainability goals over the past year.”
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Posted on February 27th, 2023 by liz
PBC is delighted to welcome Senior Quantity Surveyor Anthony Metelerkamp to its growing Cost Consultancy Team, which has made significant gains over the past few years under Chris Jones’ leadership.
Anthony has a diverse range of experience covering residential, commercial, retail and mixed-use schemes throughout the UK and Europe, with values ranging from £0.5m to £500m. At PBC he will be responsible for managing the company’s service across a variety of different projects.
Commenting on his new role Anthony said: “I love the challenge a new scheme brings. Each development project has its own individual obstacles, and every project and client team are unique. You meet, collaborate, and learn to work with new people every day in a fast-paced environment. I’m delighted to be playing a role in building on PBC’s success by helping Chris to continue the development of our team and service offering.”
Outside of work Anthony enjoys socialising, travelling, and playing a variety of sport – particularly golf where he can often be found on the 19th hole!
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Posted on February 20th, 2023 by liz
The PBC Team is celebrating something rather special this month… Emma Knight’s 10-year and Rob Newcombe’s 20-year anniversary with us! Known as the duo who hold the business together, our Team Admin & Office Manager, Emma, and Administrator, Rob, share all the best bits…
How would you describe working at PBC Emma?
“PBC is a fast paced company that always strives for excellence for their clients. The teams work well together and are always on hand to help one another out and enjoy socialising together. I enjoy the flexibility PBC provides – they understand you also have a life outside of work – and I love the company culture and overall the team I work with.”
What do you love most about your job Rob?
“We have an incredible team and everyone works so well together to produce a high-quality, professional service whilst maintaining a very happy workplace with lots of social activities. The company is always listening to ideas and suggestions, and acts quickly to adopt many of these. The MD’s door is always open.”
Congratulations to both, and here’s to another 10 very happy years at PBC!
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Posted on February 13th, 2023 by liz
If you and your colleagues are attending and would like to get a meeting in the diary, please get in touch with Paul Philips or Mark Merritt.
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Posted on January 10th, 2023 by liz
This month, we’re celebrating 5 years of Liam Horton at PBC!
Liam joined our Building Consultancy team in 2018 and has continued to build on his strengths on a number of fantastic projects.
“I’m really happy to be celebrating 5 years at PBC,” said Liam. “Throughout that time I’ve worked on many rewarding, varied and interesting projects for a variety of clients, and I’ve really enjoyed learning and developing my skills. I’m grateful that PBC encourages a healthy work-life balance, which allows me to take on the challenges of work with a clear mind.”
“Going forward, I’m glad to have a number of exciting projects in the pipeline which will definitely keep me busy!”
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Posted on January 3rd, 2023 by liz
PBC is delighted to announce the launch of a new Development Monitoring Department, which will be headed up by Mark Merritt MRICS MAPM.
Mark, who has over 20 years’ experience in the industry, previously worked as Director of Project Monitoring where he was part of developing a dedicated department, growing this into a team of 18 project monitors. He has worked on a vast range of projects, across a broad range of sectors, including Local Authority and Super-Prime Residential.
In his previous role, Mark helped developed a robust procedures and processes that included developing efficiencies, in-house benchmarking, strict QA procedures and training. His background of Project Management and Cost Consulting also brings a wide breadth of knowledge and expertise to PBC.
In the new Department, Mark will be joined by Associate Director James Gregory, who has been specialising in providing Development Monitoring services within PBC for key bank and project funders for a number of years. Typical project values for his Development Monitoring instructions have ranged from £600,000 up to £30 million, and these have included prime and super-prime residential schemes for private bank clients within London, the home counties and Cotswolds with construction values up to £10 million, as well as a range of residential focused and mixed-use developments with construction values up to £30 million and hotel and student accommodation projects with construction values up to £25 million. James brings a vast private practice building surveying experience with commercial, industrial and residential properties for property companies, plcs, corporations, institutions, and banks to the new Department.
The new Development Monitoring Department will sit alongside PBC’s highly successful Building Consultancy, Project Management and Cost Consultancy Teams. It adds a new dimension to the range of professional services offered by PBC, and continues the company’s ongoing plans for structured growth that reflects the needs of both it clients and the industry as a whole.
Commenting on the launch, Mark Merritt said: “I’m delighted to be joining PBC as Head of Development Monitoring, joining a team with the wealth of knowledge and expertise already present, and to grow this base to be able to offer a dedicated and centralised service to our clients.”
For further information about PBC’s Development Monitoring capabilities click here or contact Mark Merritt on 020 3478 0635.
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Posted on December 19th, 2022 by liz
John Nassari Photography
PBC Managing Director, Paul Philips, shares his thoughts on 2022 and his insights on where the property sector is heading over the next 12 months.
What external factors have had the biggest impact upon PBC and its business this year?
“Over the last year, we have seen economic and political pressures both on a domestic and global scale. The tail end of Covid-19 pandemic, Russia’s war with Ukraine through the year, and a lack of UK political stability during the last quarter has given rise to volatility in many markets, with energy price and interest rate rises, and continuing public sector pay disputes, leading to strikes impacting UK business.
Our latest Cost Consultancy Lead Times and Cost Commentary reports an increase in construction output across three consecutive months from July to September, with an increase in new orders, less material shortages and improved supply chain performances beating market expectations. In fact, the UK Construction Industry was the only main sector of the economy that expanded in recent months.
This was mainly due to unfinished work and a strong pipeline, principally related to the private commercial, infrastructure and housing projects.
However, the above reported growth in Q3 came ahead of the Government’s disastrous mini budget, which significantly impacted the UK economy, resulting in a forecasted fall in construction output for the year ahead, coupled with a tight labour market and a slowdown in real estate investment and finance.
What key trends have you seen this year and what do you think has driven them?
Labour shortages, high vacancy rates and recruitment difficulties have remained a constant obstacle to growth for construction companies and consultancy businesses, and this looks set to continue into Q1 2023 while the construction project pipeline is strong. However, this is likely to change as wages struggle to keep up with the cost of living and we see more redundancies.
The Global Cop 26 and 27 Summits, and the UK drive for Net Zero, has been a key trend this year, with most of our clients being focused on ESG and improving the green ratings for their properties. Investors have been leaning towards green building loans, and our property clients have been keen to understand the strategy and pathway to achieving Net Zero carbon for their property portfolios and the use of more renewable products and materials. Indeed, the construction industry has been promoting decarbonising construction projects. However, the lack of Government recognition of the sector’s abilities, and associated funding, has made the target of achieving Net Zero in construction by 2030 a slim prospect.
Post pandemic flexible working is another trend we have seen this year, with many businesses, including PBC, offering staff more flexible working arrangements between office and home, with productivity being maintained. In conjunction with this we have seen changes in the way businesses occupy their space, with a shift towards the serviced office market, with more emphasis on breakout areas, collaboration spaces and noise proof phone booths for Zoom and Teams calls.
What major achievements has PBC recorded in the past year?
Rising inflation, higher interest rates and energy costs have been the key economic barometer this year. However, notwithstanding these pressures since the start of the year, PBC saw an upswing in new property investments and development finance transactions and an increase in new project starts. Our profile in the market has increased due to the quality of our service, giving rise to repeat business from our clients, and also from more effective marketing and promotional activities. A mix of showcase features, case studies, and an improved social media campaign, has further helped to drive growth over the past year.
The demand for our extensive range of Professional and Construction Consultancy Services has remained both strong and diverse, with healthy activity in the commercial, industrial and logistics and residential sectors. The average size of our instructions continues to grow across all departments and saw an upturn in 2022.
Our Projects Team has delivered a £74 million commercial office development in Southwark for a world leading advertising company and will also be handing over a new 150,000 sq. ft. distribution facility extension in Colchester for a major book publisher, with a BREEAM “very good” certification.
Our Cost Consultancy division has recently secured a 66,000 sq. ft. comprehensive CAT B office fit out in the City for a major insurance company and has completed QS services on the refurbishment of a 50,000 sq. ft. industrial unit in Milton Keynes for a leading institutional fund, incorporating many sustainability upgrade features. Both our PM and QS teams are also busy project and cost managing an extensive CAT A+ office refurbishment project at the former Terence Conran HQ at Shad Thames in SE1.
Meanwhile the larger Building Consultancy team has carried out over 25 pre-acquisition Technical Due Diligence (TDD) surveys for property investors, including an industrial park in Essex, a multi-storey office building in the City, two hotels and Judges Lodging’s in the heart of historic Lincoln and another hotel situated on a clifftop overlooking the Lizard in Cornwall.
In addition to these TDD surveys, our Building Consultancy team has continued to manage the delivery of a range of serviced office fit-out projects for operators and landlords, across the South-East of England, including “Flex space” offices for Great Portland Estates.
We continue to act for many blue-chip clients, including The Portman Estate, CLS Holdings Plc, Columbia Threadneedle Investments, Aviva Investors and Ballymore.
Our experience and expertise over the last 22 years in providing Project Monitoring Services to banks and other development funders, has enabled us to secure Independent Monitoring Surveyor roles on many exciting projects, including the £25 million conversion of Richmond Hospital to private and affordable residencies, a 57,000 sq. ft. development of new contemporary offices and light industrial space in Kings Cross and a £20 million, 298 unit build to rent office residential conversion scheme in Swindon.
All of PBC’s departments are growing in size and you are taking on more staff. Why is this?
PBC has grown this year, with two new building surveyors in our Building Consultancy Team, a Senior PM and Assistant PM added to our Projects Team and a new Senior QS joining our Costs Consultancy Team. We are also excited to be starting a new departmental “centre of excellence” for Development Monitoring, headed up by Mark Merritt BSc Hons MRICS MAPM, our new Director of Development Monitoring, who is joining us in January 2023.
Our graduates are aiming for their RICS APC in 2023 with our support and Ben Hallowell successfully passed his APC this year and became a member of the RICS
Our Director of Cost Consultancy Chris Jones MRICS was welcomed to the Board of PBC from 1st May during the year and in terms of company performance, 2021/22 was the best year we have had to date with 54% growth on the previous year and 23% over our budgeted profit. The Building Consultancy Team achieved a 30% increase on budgeted fee income, Cost Consultancy achieved a 38% increase, and the Projects Team achieved an 8% increase and their best performance to date.
Are there any trends amongst PBC’s commercial, industrial and residential clients that have emerged over the past year?
The last year has seen ESG and sustainability top of most clients’ corporate agenda, which has seen PBC focus on addressing energy efficiency and decarbonising carbon in construction. Across the business, we recognise the importance of introducing sustainable and renewable features into projects, including PV panels, air and ground source heat pumps, EV charging points, energy monitors, HVRF HVAC systems, end of journey commuter and cycle facilities and Net Zero pathway portfolio assessment. Advice on measures to improve the EPC rating of our clients’ buildings and property portfolios has also seen an increase.
From PBC’s own perspective, we achieved Carbon Neutral Plus Accreditation and certification in 2022
What are your plans for developing the business further in 2023 and are there any external factors or trends that you think will continue to affect the sector next year?
The year ahead looks both exciting and challenging and we remain cautiously optimistic. Our strong pipeline of new business opportunities across all departments, with potential for adding more new clients, is one of our key strengths going forward into 2023. The challenges, however, come from increased costs and the continued impact of the war in Ukraine across Europe, and the need for economic stability in the UK.
Whilst overall economic growth expectations remain subdued, there are some areas offering opportunities for property and construction consultancies. The drive towards Net Zero will undoubtedly give rise to more opportunities for advising clients on their proposed property purchases, existing portfolio upgrades and for managing client’s Net Zero pathway implementation projects.
Smart building technology is another growth area for construction, which is a must have for many larger property developers. Modern methods of construction, such as modular buildings and the greater use of close laminated timber, will also be more widely adopted across the industry.
Faced with further economic uncertainty and more financial pressures in 2023, clients should be taking early advice from their professional consultants to secure cost and programme resources for their projects. PBC is well placed to respond to our client’s demands as we continue to be a financially robust, with strong management and experience across our Building Consultancy, Project Management, Development Monitoring and Cost Consultancy Teams. Our motto is ‘to ensure the best outcome every time’ and we wholeheartedly believe that PBC achieves this for our clients.
If you weren’t the Managing Director of PBC, what job or challenge would you relish most?
After 22 years, I still get up every morning and look forward to the challenges of running PBC. Working alongside our amazing teams, our fantastic clients and the job itself makes it all worthwhile. However, anyone who knows me well knows that I am an avid rugby fan. There is, therefore, only one job that would entice me away from my role of Managing Director at PBC, and that is the England Rugby Union Manager’s job. I’m still waiting for the call!
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Posted on November 28th, 2022 by liz
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Posted on November 21st, 2022 by liz
PBC is delighted to have assisted Travel Sector Property Limited (TSPL) with their acquisition of The White Hart Hotel and the Judge’s Lodgings in the heart of the historic City of Lincoln.
PBC provided pre-acquisition technical due diligence advice, and reinstatement cost assessments.
The White Hart first opened more than 600 years ago as a Coaching Inn and has been one of Lincoln’s premier hotels since being substantially rebuilt and extended in the early 1800s.
The Eastgate Suite (Orangery) has a well-established reputation as a prestigious wedding and function venue, which also includes the former King Richard Restaurant.
In relation to the White Hart Hotel, Andrew Long, Principal Director of TSPL, said: “We are delighted to have acquired this historic 50-bedroom hotel in its unique Uphill location, located within the imposing presence of the iconic Lincoln Cathedral and a few steps away from the city’s Norman Castle. We are committing substantial resources to create a prestigious and welcoming upgraded hotel and look forward to progressing our proposals for significant capital investment to upgrade and improve the existing facilities.
The Judge’s Lodgings is a Grade II Listed *Georgian building which was first built in 1810. It has a commanding landmark location overlooking Castle Hill Square, immediately adjacent to the Eastern Main Gate of Lincoln Castle (built by William Conqueror in 1068).
Announcing the acquisition of the Judge’s Lodgings, Andrew Long, summarised his overall proposals for this historic location: “My TSP Group of Companies are working closely with locally based John Roberts Architects and our wider project team to produce a major redevelopment and significant overall enhancement scheme for the St Paul’s Lane, Bailgate and Castle Hill quarter of the City. Subject to obtaining the respective Statutory Consents, there is now a unique opportunity to deliver a fully interrelated redevelopment scheme for the White Hart Garages and car park site, in conjunction with the refurbishment and sustainable long-term future use of the Judge’s Lodgings.”
Shoosmiths Solicitors of Leeds acted on behalf of TSP Developments, in conjunction with PBC, Andrew having worked closely with both of these companies on major projects throughout the UK for in excess of 25 years.
PBC have been retained to provide project management and cost consultancy services for the redevelopment of the White Hart Garages and car park site, in conjunction with the refurbishment and enhancement of the Judge’s Lodgings.
PBC’s Managing Director Paul Philips commented: “We are very pleased to be working with Andrew in the wonderful Historic City of Lincoln, based on established long-term professional relationships and also Andrew’s renewed close working relationship with John Roberts Architects, together with other locally based members of the Project Team.”
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Posted on November 3rd, 2022 by liz
We’re proud that PBC has featured in Building Magazine’s recently announced ‘Top 150 Consultants’ of 2022.
It’s great to see that our continued growth, talented staff and in-depth industry knowledge has moved us into 133rd place.
View the Building Magazines top list here: https://lnkd.in/eYBAq4Dm
(Please note that a subscription to Building Magazine is required to view this information)
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Posted on October 31st, 2022 by liz
Four intrepid (and very brave) PBC team members took part in an abseil organised by the St Mungo’s Charity to mark this year’s World Homeless Day.
James Gregory, Robbie Brightman, George Clark and David Goedecke abseiled down the outside of the ArcelorMittal building in the Queen Elizabeth Olympic Park in Stratford to raise money for St Mungo’s and support the vital work they do to rebuild lives and end homelessness.
PBC and their clients and suppliers* donated very generously and the team raised an amazing £2,300.
Well done team PBC – it looked very scary up there!
Thank you to our very generous sponsors:*
- Michael Ross
- Whistlers Ltd
- G A Harpers Construction
- Lightworks
- P J Harte Ltd
- Atlas Property Lettings & Services Ltd
- London Fit Out Ltd
- Computer System Ltd
- RE Capital
- Lateral Investments
- Adam Cramer
- Tim Attwood
- Furness Partnerhsip
- Francis Ho
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Posted on October 24th, 2022 by liz
Ben joined our Building Consultancy team in 2017 and has worked incredibly hard towards his chartered status under the mentorship of the PBC management team. “I’m delighted to be celebrating five years at PBC,” said Ben. “It’s been exciting to be part of the company’s continued growth over the past half-a-decade, and I’m fortunate to be part of such a vibrant and dynamic team. A personal highlight has been recently passing my APC, and I now hope to support my graduate colleagues in achieving MRICS status. I look forward to continuing my career development as part of our growing Building Consultancy team.”
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Posted on October 17th, 2022 by liz
During National Work Life Week 2022, we asked our some of colleagues how they feel about our flexible work policy, and what work life balance means to them.
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Posted on September 20th, 2022 by liz
PBC is delighted to welcome James Murphy to its growing Project Management team.
James is a highly motivated Project Manager who has experience in commercial Cat B fit-outs and new builds. His key strengths are project delivery from inception to completion, with experience during the design stage including BREEAM. James also prides himself on building and maintaining excellent relationships with both clients and the project delivery team to ensure a successful outcome.
Welcoming James to PBC, Director of Project Management Glenn Wright said: “Our PM team is continuing to go from strength to strength, so James is joining us at a very busy time when we have a number of major projects underway and in the pipeline. His experience of the commercial office fit-out sector is also a perfect fit for us, so we are delighted to welcome him to our growing team!”
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Posted on September 15th, 2022 by liz
PBC has been busy on many residential projects for clients.
Take a look at our latest e-newsletter to see just a few of the successful developments our Project Management, Building Consultancy and Cost Consultancy teams have successfully completed.
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Posted on August 9th, 2022 by liz
The PBC Team welcomed guests from Dorrington, BMS, CLS Holdings and fund clients to an evening of cricket and fun at The Hundred at The Oval, to watch the London Spirit play the Oval Invincibles.
The weather was perfect, and everyone was treated to an exciting evening’s cricket, with the London Spirit coming out winners after a nail-biting run-rush to the finish!
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Posted on August 5th, 2022 by liz
Congratulations to PBC’s Ben Hallowell for passing his APC and becoming a Chartered Building Surveyor.
Ben has been with PBC for four years and throughout this time has worked towards his chartered status under the mentorship of the PBC management team.
Commenting on his achievement, PBC Director Simon Garrard said: “We are delighted that Ben has gained his chartership. He has worked incredibly hard over the past four years towards this, and it is very well deserved.”
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Posted on July 11th, 2022 by liz
PBC is delighted to have once again supported the Asher Teper Memorial Golf Day, which has raised over £300,000 for the charity since it was first held.
This year the competition took place at the fabulous Woodland Masterpiece Palmerston Court Golf Course at Brocket Hall Estate, and PBC sponsored the second hole.
Well done to all of the teams involved, and for raising so much money for charity
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Posted on July 8th, 2022 by liz
PBC’s elite team of athletes took to the track and bike to represent the company at the recent JLL Duathlon at Dorney Lake near Windsor.
Over 260 competitors from the property sector took part, and the team of Paul, Chris, Jamie and George did themselves (and PBC) proud.
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Posted on July 4th, 2022 by liz
Congratulations to PBC’s Financial Controller, Chandrika Sheth for completing a mammoth nine-mile Night Walk for charity. Her amazing effort raised over £450 for her chosen charity – St Luke’s Hospice.
Well done Chandrika, and now go and put your feet up for a well-deserved rest!
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