Henry Construction residential project underway in Ealing, London.
Work is set to begin with Henry Construction on a Â£ 32million residential project in Ealing, London. The development follows a Â£ 19million funding deal with Maslow Capital, the property development finance specialist to support Henry, who are the developers and entrepreneurs. The Â£ 32million residential project on Greenford Road will consist of a partly 3-story, partly 5-story and partly 14-story residential structure that will contain 83 apartments.
The first works on the site will consist in the demolition of the service station which was there. Henry Construction Development Director Charles Leigh said they were pleased to have completed the deal with Maslow which will help them develop and deliver the high-quality Â£ 32million residential project for the neighborhood Londoner from Ealing. “I look forward to continuing the relationship with Maslow throughout the development period and on future projects.”
Read also: Aberla Group wins a Â£ 20 million contract for MEP at the Viadux development in Manchester.
Construction trends in the UK.
Despite the effects caused by the COVID-19 pandemic on the UK construction and housing markets, contractors in the residential building construction industry have garnered a lot of sustained political support and initiatives backed by the government to speed up UK residential housing stock amid acute shortages. Statistics from the National House Building Council (NHBC) revealed that around 1.4 million new homes were registered for construction in the UK market over a ten-year period through 2019, helping to boost the figure for business over five consecutive years among UK home builders up to 2018-19. collectively.
Operators are likely to resist significant operational provocations and market difficulties, at least in the short term. Growth prospects will be conditional on: the lasting economic effects of the COVID-19 pandemic; the recovery of real estate investment markets; and the adjustment of the nature of the UK market, the regained independence of the EU bloc will have on the financing stock and the underlying demand for new habitable real estate. All the factors highlighted are still somewhat uncertain compared to the current economic climate.
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