May saw the continuation of consistent contract awards, as they remained at the long term average with £5.5bn. This activity was held up high by industrial activity, thanks to the logistics subsector.
With £1.5bn, the industrial sector returned to exceptional levels seen at the back end of 2021. Regionally, the South East saw the most amount of projects with 22, closely followed by Yorkshire & Humber with 21 and the South West with 19.
Figure 1.1 – Sector Breakdown
Amongst the 165 projects in May, warehouses and storage buildings accounted for 69 of them, highlighting the dominance of the sub sector. To showcase the success of the industrial sector this month, below are the top three projects by value.
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MOD Ashchurch – Vehicle Storage and Support Programme (Project ID: 12116894)
The number one project this month is the £250m redevelopment of MOD Ashchurch including demolition, refurbishment and erection of new workshops, storage and office buildings. Starting construction in November, the project will take 25 months and be complete in July 2025.
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Central Park, Severnside – 2 Distribution Warehouses (Project ID: 11866902)
Located in Bristol, this £119.7m project will see the construction of two distribution warehouses with offices, toilets, showers, kitchen and associated cycle and car parking, access and landscaping.
Already started on site, this new build project is due to take 29 months to complete and finish in August 2024.
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PragmatIC Park, Meadowfield Industrial Estate (Project ID: 12564899)
Our third largest project by value will consist of the refurbishment and sub-division of the former Wavin Plastics Factory located in County Durham. Valued at £68m, the project started construction in January this year and the completion date is yet to be disclosed.
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