"The challenge for clients is to be certain that buildings will be delivered to the quality required, on time and within budget. The current economic climate makes this need for certainty even more acute." David Sarson, Sector Director
The commercial property sector has been severely impacted by the current recession. Although our clients still have strong businesses with good rental incomes, the value of their estates has fallen, making it more difficult for them to borrow money to fund new building programmes.
Osborne is committed to maintaining its presence in the commercial property market through this difficult period. We are working with our clients to improve efficiency and get the best possible value from any projects that do proceed. One area where we can help is by advising on complex sites – for example on contaminated land or where there are difficult ground conditions or environmental issues. We have the technical capability in-house to assess the risks posed by these sites before any development has been designed, and can then use our expertise to reduce those risks so that clients can be far more certain of costs.
We can also use efficient construction techniques, including off-site construction, to meet tight programmes and give our clients high levels of certainty on out-turn costs and completion dates.
Despite the recession, we have been active in the sector during the last year, including winning two projects for SEGRO, a long-term client. One is a £4.4 million design and build contract for an office building at Winnersh Triangle near Reading. The 3,460m2, two-storey building has been designed to achieve an Energy Performance Certificate B rating and BREEAM Very Good. Carbon emissions will be 19% below Part L.
The second SEGRO project is a £3.5million commercial development at Yeovil Road on the Slough Trading Estate, consisting of 14 units housed in six blocks. The contract was awarded after Osborne carried out a feasibility study to compare traditional and sustainable construction options for the site.
During the contract, the project team has become involved with Pit Stop, a local charity that helps disadvantaged young people. The team has donated materials to the organisation, and committed time and resources to help decorate its premises. SEGRO has recently appointed Osborne as one of two framework contractors for projects on the Slough Trading Estate.
Last year we trialled a client satisfaction process with our commercial property clients based on measuring and addressing any discrepancy between perception and expectation for each project we deliver. That process has now been rolled out across the Osborne Group.
SEGRO has had a very successful working relationship with Osborne over many years, and we had absolute confidence in their ability to deliver the high quality product required at Winnersh Triangle. We let the contract on a design and build basis in order to get best value, and are very pleased that the building meets the high standards both we and the end occupier required at a competitive price. It was also important for us to achieve high standards of health and safety and environmental performance, and Osborne has been able to deliver this for us. Tim Jones, Senior Development Manager, SEGRO
For more information contact construction@osborne.co.uk
