High Speed Barbour ABI Construction Products Association Frameworks Contracts Bid Procurement

A once in a lifetime opportunity. A catalyst for growth.

HS2 is set to deliver phenomenal opportunities for regeneration and development across the UK – and new latest released shows that several regions across the UK are already reaping the commercial rewards of the massive infrastructure scheme. According to the latest data by Barbour ABI and the Construction Products Association (CPA) five regions are already seeing a huge boost due to the project.

The opportunities, set to form a huge part of the HS2 Economic Growth Conference, are starting to be realised as Phase 1 of the project gets underway and many firms are already realising the profits of £7.2bn of work awarded contracts. West Northamptonshire firms as an example have seen an 200% increase in construction contracts awarded in 2017 alone.
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The latest data comes from a report published by Barbour ABI and CPA and it highlights the level of construction contract values awards last year. Some of those highlighted as seeing high levels of increases, due to contracts for new or redeveloped infrastructure, include:

  • Haringey and Islington
  • Hounslow
  • Richmond upon Thames
  • Birmingham
  • Warwickshire
  • West Northamptonshire

The new sites and related infrastructure, such as stations, are set to unlock massive development in the wider areas – which is the main focus of the HS2 Economic Growth Conference as we, as an industry, look to maximise the opportunities the arrival of HS2 will have to each of our city regions. Cities are already looking to maximise their regeneration with the likes of Leeds doubling the City Centre in the South Bank, Birmingham delivering incredible news builds around Curzon and more. Birmingham has already received the highest commercial investment compared to the other regions on the route – but the likes of Sheffield have already seen a huge boost in investment conversations from the arrival of HS2.

Michael Dall, Lead Economist at Barbour ABI said: “The sheer size of the HS2 contracts will have a transformational impact on the amount of infrastructure work over the coming years, and will also create associated residential and commercial construction opportunities.

“The commercial sector in particular has been challenged since Brexit so it will be interesting to see whether the HS2 development provides a boost to this sector.”

Rebecca Larkin, Construction Products Association Senior Economist added: “The first contract awards for work on HS2, a project costing £55.7bn in total, will shore up confidence for investment into the long-term regeneration of towns and cities along its route. As the first city stop on the route from London, Birmingham has been a construction hotspot for two years, and illustrates the potential for infrastructure improvements to unlock projects in the residential and commercial sectors as well.”

 

The HS2 Economic Growth Conference, supported by HS2 Ltd will focus on delivering maximise the regeneration and development opportunities across each and every region of the UK – and tickets can still be purchased for the event here.
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