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WWW.BDONLINE.CO.UK FRIDAY DECEMBER 2 2011 Architects welcome autumn statement £6.3 billion for infrastructure 'could unlock further investment' BD Newsdesk George Osborne's autumn state- ment has been welcomed as a "step in the right direction" by leading architects. The chancellor's announce- ment of ñinding for infrastructure, housing and education will bene- fit some practices directly and could unlock further investment, they said. But the future remains uncer- tain with scaled-down growth forecasts and an OECD warning TUBE BOOST FOR BATTERSEA POWER STATION COMES TOO LATE George Osborne Announced investment in infrastructure and schools this week that Britain is slipping back into recession reflecting the results of recent RIBA confidence surveys. Osborne announced a £6.3 bil- lion national infrastructure pro- gramme and measures to stream- line the planning process, as well as £1.2 billion for school buildings split equally betvi'een free schools and local authorities. There was also £400 million to help housebuilders complete stalled developments, and a mort- gage indemnity scheme. Ben Darbyshire of HTA said: "Every little helps. The £400 mil- lion is reinstating a tenth of the £4 billion that was proposed to be cut but it's better than nothing." The lifeline thrown to Battersea Power Station this week appears to have come too late. As BD went to press, administrators for Irish site owner Treasury Holdings announced the station was lil<ely to be put up for sale after it failed to repay debt fees of £325 million to RBS. It would be the fourth time the listed building has changed hands, owing to the large cost of redevelopment and poor transport provision. The news came a day after the government backed plans for an extension to the Northern Line, which would His clients predict the mortgage scheme vidll increase their output by up to 30% next year. He added that if it were extended to indem- nifying institutional investors, funding for £1 billion of private rented housing could be triggered. But Alex Ely of Mae Architects pointed out that£400 million was also spent on the failed Kickstart programme in 2009. "Perhaps a bit more lateral thinking, such as taxing land banks with planning permission, would be better to help drive con- struction and improve afTordabil- ity as well as generate income," he said. John McAslan said the£6.3 bil- include a proposed stop at Battersea Power Station. Construction of the tunnels and station, estimated to cost up to £950 million, would be funded through a levy imposed on private develop- ment sites in the area. lion for road and rail infrastruc- ture was a "limited sum" but could unlock further investment. McT^slan's practice is working on King's Cross and a European sta- tion security study. Infrastructure opportunities for architects went much frirther than designing sta- tions, he said, and it was for prac- tices to look for opportunities. "They should be partnering with engineering firms to make sure they get a slice of this work," he said. Education architects were less cheerful. Jonathan Ellis-Miller said: "Anyone who thinks there vsdll be a spending bonanza is deluded." Treasury Holdings is set to sell the site after failing to repay debt fees of £325 million. Other schemes in the Nine Elms Opportunity Area, including Kieran Timberlake's new American Embassy and Foster & Partners' New Covent Garden Market plans, are still going ahead. Richard Cottrell, ofAYA educa- tion architect of the year Cottrell & Vermeulen, said it was unclear whether small practices would benefit from the money since pro- curement remained so opaque. Osborne also outlined the gov- ernment's intention to explore Eoster & Partners' Thames Estu- ary proposals. Norman Eoster said: "This is an opportunity to reassert Britain's role as a global hub and an inter- national gateway. The chancellor's autumn statement is very encour- aging and a step closer to achiev- ing this goal." SEE DEBATE, PAGE 9 Kurokawa's Swansea Maggie's Centre completed Japanese architect Kisho Kurokawa's Maggie's South West Wales has completed at the Singleton Hospital in Swansea. The concrete spiral building has a kitchen at its heart, with private rooms and terraces occupying its two wings. Kurokawa, who died in 2007, completed the outline designs for the building shortly before his death. Thore Garbers and Wendy James of Garbers & James worked as executive architects on the project. Kurokawa had said of the design: "The new Maggie's Centre will come out of the earth and swing around with two arms like a rotating galaxy. "One side will welcome the visitor and lead to the other side, which embraces nature, the trees, rocks and water." The building will be the third Maggie's Centre to complete in recent months following CZWG's building in Nottingham and OMA's project at Gartnavel hospital in Glasgow. It will open officially on December 9. Money woes force YRM to seek buyer YRM has revealed it is seeking a buyer follov^dng a difficult finan- cial year. BD understands the 67- year-old practice is in talks with an unnamed firm, and expects a deal to be concluded next week. YRM's chief executive John Clemow said the firm would be moving from its current King's Cross offices, but that he expected the YRM brand to survive. He said: "The costs of closing our offices in Vienna and Bucharest [last year] were putting pressure on our profitabilify so we weren't able to generate enough profit to maintain a balance sheet. "In mid-2011 we were startingto turn things around, but then it became clear there was a big dip in our workload at the end of 2011 and we have been tr)ang to backfill that gap with new work in a veiy difficult market." Clemow said it became clear that YRM "needed to join with a larger, stronger firm", adding: "We are in the middle ofthat process." Last month YRM submitted plans to the Infrastructure Plan- ning Commission fora 1,63OMW- capacity nuclear power station at YRM's Hinkley Point C design. Hinkley Point in Somerset known as Hinkley Point C. The practice is also working with client EDE Energy on plans for a new-generation nuclear sta- tion at Sizewell in Suffolk. In its last filed accounts for the year ended 30 June 2010, YRM UK reported a pretax loss of £395,038 from a turnover of £4.3 million. This compared to a pretax profit of £680,524 in the previous year from a turnover of£5.9 million. Last month finance director Nick Sheeran resigned and fellow director Iain Macdonald stepped down from the UK board. Since 2007 staff numbers at the firm have fallen by more than 50%, to just 25. ...as offer is made for Austin-Smith Lord Several international firms are interested in buying architectural practice Austin-Smith Lord though only one has made an ofier so far, the practice confirmed. The news came as the firm pre- paredfortoday's creditors' meeting which could see it enter a company voluntary agreement (CVA) to avoid administration. The meeting was put back from Monday after an unnamed practice made an outline offer which Austin-Smith Lord partner Neil Chapman said the firm was con- sidering carefully. "We are aware of interest from a number of different sources but one firm in particular has put an outline of an offer on the table," he told BD. He declined to give details of the firms that had approached them but said it was interested in both the practice and the Abu Dhabi cul- tural project. Debts relating to this project tliat have forced the prac- tice into insolvency. "We wouldn't be talking to them if we didn't diink in principle they were of sufficient size and ability to assist, but it's got to work," added Chapman. "We don't have to bot- tom everything out before the meeting but we've got to under- stand the heads of terms as it may affect tlie extent of the CVA." He said the practice had a stable base in the UK where it was still winning work. Austin-Smith Lord made nearly half its staff redundant last month, blaming late-paying clients. By far the biggest culprit was the Abu Dhabi Authority for Culture & Heritage, which owed it£ll.3 mil- lion for the cultural quarter. It has since paid £2.4 million. Cricket club rejects AHMM's Lord's scheme AHMM's £400 million plans to redevelop Lord's have been ditched by the cricket club. The architect's enabling scheme for four residential towers on land behind Euturc Systems' media stand was rejected by the Maryle- bone Cricket Club's (MCC) com- mittee this week. Instead the club said it would redevelop the ground in St John's Wood stand by stand, using only its own freehold land. Fresh architects could ulti- mately be appointed to work on each stand. MCC chairman Oliver Stocken said since the England Cricket Board granted ita"platinum pack- age" of major matches in Septem- ber it now had confidence that it Not cricket: AHMM's scheme. could fund a redevelopment scheme on its own. The redevelopment plans have a turbulent histor)' which saw AH M M replace Herzog & de Meu- ron and two key MCC staff resign. AHMM's plans, for developer Almacantar, involved luxur}' apartments bankrolling improve- ments to the ground.
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WWW.BDONLINE.CO.UK FRIDAY DECEMBER 2 2011
Architects welcomeautumn statement£6.3 billion for infrastructure 'could unlock further investment'
BD Newsdesk
George Osborne's autumn state-ment has been welcomed as a"step in the right direction" byleading architects.
The chancellor's announce-ment of ñinding for infrastructure,housing and education will bene-fit some practices directly andcould unlock further investment,they said.
But the future remains uncer-tain with scaled-down growthforecasts and an OECD warning
TUBE BOOST FOR BATTERSEA POWER STATION COMES TOO LATE
GeorgeOsborneAnnouncedinvestment ininfrastructureand schoolsthis week
that Britain is slipping back intorecession reflecting the results ofrecent RIBA confidence surveys.
Osborne announced a £6.3 bil-lion national infrastructure pro-gramme and measures to stream-line the planning process, as wellas £1.2 billion for school buildingssplit equally betvi'een free schoolsand local authorities.
There was also £400 million tohelp housebuilders completestalled developments, and a mort-gage indemnity scheme.
Ben Darbyshire of HTA said:"Every little helps. The £400 mil-lion is reinstating a tenth of the£4 billion that was proposed to becut but it's better than nothing."
The lifeline thrown toBattersea Power Station thisweek appears to have cometoo late. As BD went to press,administrators for Irish siteowner Treasury Holdingsannounced the station waslil<ely to be put up for saleafter it failed to repay debtfees of £325 million to RBS.
I t would be the fourth timethe listed building haschanged hands, owing to thelarge cost of redevelopmentand poor transport provision.
The news came a day afterthe government backed plansfor an extension to theNorthern Line, which would
His clients predict the mortgagescheme vidll increase their outputby up to 30% next year. He addedthat if it were extended to indem-nifying institutional investors,funding for £1 billion of privaterented housing could be triggered.
But Alex Ely of Mae Architectspointed out that£400 million wasalso spent on the failed Kickstartprogramme in 2009.
"Perhaps a bit more lateralthinking, such as taxing landbanks with planning permission,would be better to help drive con-struction and improve afTordabil-ity as well as generate income," hesaid.
John McAslan said the£6.3 bil-
include a proposed stop atBattersea Power Station.
Construction of the tunnelsand station, estimated to costup to £950 million, would befunded through a levyimposed on private develop-ment sites in the area.
lion for road and rail infrastruc-ture was a "limited sum" but couldunlock further investment.McT^slan's practice is working onKing's Cross and a European sta-tion security study. Infrastructureopportunities for architects wentmuch frirther than designing sta-tions, he said, and it was for prac-tices to look for opportunities.
"They should be partneringwith engineering firms to makesure they get a slice of this work,"he said.
Education architects were lesscheerful. Jonathan Ellis-Millersaid: "Anyone who thinks therevsdll be a spending bonanza isdeluded."
TreasuryHoldings isset to sellthe site afterfailing torepay debtfees of£325 million.
Other schemes in theNine Elms Opportunity Area,including KieranTimberlake's new AmericanEmbassy and Foster &Partners' New CoventGarden Market plans, arestill going ahead.
Richard Cottrell, of AYA educa-tion architect of the year Cottrell& Vermeulen, said it was unclearwhether small practices wouldbenefit from the money since pro-curement remained so opaque.
Osborne also outlined the gov-ernment's intention to exploreEoster & Partners' Thames Estu-ary proposals.
Norman Eoster said: "This is anopportunity to reassert Britain'srole as a global hub and an inter-national gateway. The chancellor'sautumn statement is very encour-aging and a step closer to achiev-ing this goal."
SEE DEBATE, PAGE 9
Kurokawa's Swansea Maggie's Centre completedJapanese architect KishoKurokawa's Maggie's SouthWest Wales has completed atthe Singleton Hospital inSwansea.
The concrete spiral buildinghas a kitchen at its heart, withprivate rooms and terracesoccupying its two wings.
Kurokawa, who died in 2007,completed the outline designsfor the building shortly beforehis death.
Thore Garbers and WendyJames of Garbers & Jamesworked as executive architectson the project.
Kurokawa had said of the
design: "The new Maggie'sCentre will come out of theearth and swing around withtwo arms like a rotatinggalaxy.
"One side will welcome thevisitor and lead to the otherside, which embraces nature,the trees, rocks and water."
The building will be the thirdMaggie's Centre to complete inrecent months followingCZWG's building inNottingham and OMA's projectat Gartnavel hospital inGlasgow.
I t will open officially onDecember 9.
Money woes forceYRM to seek buyerYRM has revealed it is seeking abuyer follov^dng a difficult finan-cial year. BD understands the 67-year-old practice is in talks with anunnamed firm, and expects a dealto be concluded next week.
YRM's chief executive JohnClemow said the firm would bemoving from its current King'sCross offices, but that he expectedthe YRM brand to survive.
He said: "The costs of closingour offices in Vienna andBucharest [last year] were puttingpressure on our profitabilify so weweren't able to generate enoughprofit to maintain a balance sheet.
"In mid-2011 we were startingtoturn things around, but then itbecame clear there was a big dip inour workload at the end of 2011and we have been tr)ang to backfillthat gap with new work in a veiydifficult market."
Clemow said it became clear thatYRM "needed to join with a larger,stronger firm", adding: "We are inthe middle ofthat process."
Last month YRM submittedplans to the Infrastructure Plan-ning Commission fora 1,63OMW-capacity nuclear power station at
YRM's Hinkley Point C design.
Hinkley Point in Somerset knownas Hinkley Point C.
The practice is also workingwith client EDE Energy on plansfor a new-generation nuclear sta-tion at Sizewell in Suffolk.
In its last filed accounts for theyear ended 30 June 2010, YRM UKreported a pretax loss of £395,038from a turnover of £4.3 million.This compared to a pretax profit of£680,524 in the previous year froma turnover of £5.9 million.
Last month finance directorNick Sheeran resigned and fellowdirector Iain Macdonald steppeddown from the UK board. Since2007 staff numbers at the firmhave fallen by more than 50%, tojust 25.
...as offer is made forAustin-Smith LordSeveral international firms areinterested in buying architecturalpractice Austin-Smith Lordthough only one has made an ofierso far, the practice confirmed.
The news came as the firm pre-pared for today's creditors' meetingwhich could see it enter a companyvoluntary agreement (CVA) toavoid administration.
The meeting was put back fromMonday after an unnamed practicemade an outline offer whichAustin-Smith Lord partner NeilChapman said the firm was con-sidering carefully.
"We are aware of interest from anumber of different sources butone firm in particular has put anoutline of an offer on the table," hetold BD.
He declined to give details of thefirms that had approached thembut said it was interested in both
the practice and the Abu Dhabi cul-tural project. Debts relating to thisproject tliat have forced the prac-tice into insolvency.
"We wouldn't be talking to themif we didn't diink in principle theywere of sufficient size and ability toassist, but it's got to work," addedChapman. "We don't have to bot-tom everything out before themeeting but we've got to under-stand the heads of terms as it mayaffect tlie extent of the CVA."
He said the practice had a stablebase in the UK where it was stillwinning work.
Austin-Smith Lord made nearlyhalf its staff redundant last month,blaming late-paying clients. By farthe biggest culprit was the AbuDhabi Authority for Culture &Heritage, which owed it£ll.3 mil-lion for the cultural quarter. It hassince paid £2.4 million.
Cricket club rejectsAHMM's Lord's schemeAHMM's £400 million plans toredevelop Lord's have beenditched by the cricket club.
The architect's enabling schemefor four residential towers on landbehind Euturc Systems' mediastand was rejected by the Maryle-bone Cricket Club's (MCC) com-mittee this week.
Instead the club said it wouldredevelop the ground in St John'sWood stand by stand, using onlyits own freehold land.
Fresh architects could ulti-mately be appointed to work oneach stand.
MCC chairman Oliver Stockensaid since the England CricketBoard granted ita"platinum pack-age" of major matches in Septem-ber it now had confidence that it
Not cricket: AHMM's scheme.
could fund a redevelopmentscheme on its own.
The redevelopment plans have aturbulent histor)' which sawAH M M replace Herzog & de Meu-ron and two key MCC staff resign.
AHMM's plans, for developerAlmacantar, involved luxur}'apartments bankrolling improve-ments to the ground.
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