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18 September 2012 | Anna Reynolds
Property company British Land is stimulating UK businesses in its supply chain with investment in major construction projects.
Research from PwC commissioned by the firm estimated British Land’s activities will contribute £2.1 billion to the UK economy and create some 32,300 jobs between 2011 and 2015.
Building business, creating growth showed British Land focused on local procurement, providing income to a wide range of small businesses. Throughout the construction of the Leadenhall Building in London, for example, some £1.7 million has been spent with local suppliers on construction packages such as blockwork design, site welfare and electrical services. A further £12 million has been invested in London-based advisory companies and consultants, many of which are creative SME’s.
Despite most of the construction projects taking place in central London, many support wider UK communities. The Leadenhall Building, due for completion in 2014, is supporting steelworkers and young apprentices in Bolton, after Watson Steel won the contract to provide 18,500 tonnes of steel. At least 40 apprentices, five graduates and 65 NVQ students will work on the construction site and additional apprenticeships will be supported through the supply chain.
Another project, 10 and 20 Triton Street at Regent’s Place in London, revealed the framing system was assembled in Scotland, using rolled steel sourced via UK company EOS, and supplied by Corus, another British-located firm. Up to 80 per cent of the steel was recycled from the UK. Other building projects in London include 5 Broadgate, NEQ, Regent’s Place, Whiteleys Shopping Centre, Marble Arch House and 10 Portman Square.
Chris Grigg, chief executive of British Land, said: “This report highlights how British Land and our partners are investing in the UK economy and communities around the UK through our £2.1 billion development programme. Whether it’s steel from the North West that is being used at the Leadenhall Building, or concrete from Yorkshire used at 5 Broadgate, our central London construction projects are the driving force behind the stability and growth of hundreds of businesses across the country.”
Once completed, the new buildings will house a wide range of businesses, including UBS and Aon, as well as providing retail space to brands such as M&S, Next, Boots, H&M and Debenhams.