| 1. |
INTRODUCTION |
7 |
| 2. |
SUMMARY |
8 |
| 3. |
ECONOMIC ENVIRONMENT |
10 |
| 3.1 |
GDP | 10 |
| 3.2 |
INFLATION & INTEREST RATES |
11 |
| 3.3 |
UNEMPLOYMENT | 12 |
| 3.4 |
HOUSEHOLD CONSUMPTION |
12 |
| 3.5 |
HOUSING & CONSTRUCTION |
13 |
| 3.6 |
STERLING | 14 |
| 3.7 |
POPULATION PROFILE | 15 |
| 3.8 |
CONCLUSIONS | 17 |
| 4. |
OVERVIEW OF COMMERCIAL FIT-OUT & INTERIOR REFURBISHMENT MARKET |
18 |
| 4.1 |
DEFINITION | 18 |
| 4.2 |
MARKET SIZE & TRENDS | 19 |
| 4.2.1 |
Construction Trends | 20 |
| 4.2.2 |
Impact of Cost Increases |
22 |
| 4.3 |
PROSPECTS FOR FIT OUT & INTERIOR REFURBISHMENT |
24 |
| 4.4 |
END USE MIX | 26 |
| 5. |
OFFICES |
28 |
| 5.1 |
OVERVIEW | 28 |
| 5.2 |
RECENT DEVELOPMENTS | 28 |
| 5.2.1 |
End Use Sector Trends |
28 |
| 5.2.2 |
Fit-Out & Interior Refurbishment |
31 |
| 5.3 |
PROSPECTS FOR FIT-OUT & INTERIOR REFURBISHMENT |
35 |
| 6 |
RETAIL |
40 |
| 6.1 |
OVERVIEW | 40 |
| 6.2 |
RECENT DEVELOPMENTS | 40 |
| 6.2.1 |
End Use Sector Trends |
40 |
| 6.2.2 |
Fit Out & Interior Refurbishment |
44 |
| 6.3 |
PROSPECTS FOR FIT-OUT / INTERIOR REFURBISHMENT |
50 |
| 6.3.1 |
Grocery Multiples | 50 |
| 6.3.2 |
Non Grocery / High Street & Shopping Malls |
50 |
| 7. |
EDUCATION |
52 |
| 7.1 |
GENERAL OVERVIEW | 52 |
| 7.1.1 |
State Sector Schools | 52 |
| 7.1.2 |
Higher Education | 52 |
| 7.2 |
RECENT DEVELOPMENTS | 53 |
| 7.2.1 |
End Use Sector Trends |
53 |
| 7.2.2 |
Fit-Out & Interior Refurbishment |
56 |
| 7.3 |
PROSPECTS FOR FIT-OUT & INTERIOR REFURBISHMENT |
57 |
| 7.3.1 |
Primary & Secondary Schools |
57 |
| 7.3.2 |
Higher Education | 59 |
| 8. |
HEALTH CARE |
60 |
| 8.1 |
GENERAL OVERVIEW | 60 |
| 8.1.1 |
Public Sector | 60 |
| 8.1.2 |
Private Healthcare | 60 |
| 8.2 |
RECENT DEVELOPMENTS | 61 |
| 8.2.1 |
End use sector trends |
61 |
| 8.2.2 |
Fit-Out & interior refurbishment |
62 |
| 8.3 |
PROSPECTS FOR FIT-OUT & INTERIOR REFURBISHMENT |
63 |
| 8.3.1 |
Secondary NHS Healthcare |
64 |
| 8.3.2 |
Primary NHS Healthcare |
65 |
| 9. |
LEISURE |
66 |
| 9.1 |
SECTOR OVERVIEW | 66 |
| 9.2 |
RECENT DEVELOPMENTS | 69 |
| 9.2.1 |
End Use Sector Trends |
69 |
| 9.2.2 |
Fit Out & Interior Refurbishment |
72 |
| 9.2.3 |
Prospects for Fit-Out / Interior Refurbishment |
75 |
| 10. |
MARKET STRUCTURE & SUPPLY |
77 |
| 10.1 |
STRUCTURE | 77 |
| 10.2 |
MARKET ENTRY | 77 |
| 10.3 |
MARKET SHARES AND LEADING PLAYERS |
78 |
| 10.3.1 |
Fit Out & Interior Refurbishment Main Contractors |
78 |
| 11. |
INTERIOR FIT-OUT & REFURBISHMENT MAIN CONTRACTORS |
83 |
| TABLES AND CHARTS |
| TABLE 1 |
CONTRACTORS OUTPUT FIT OUT & INTERIOR REFURBISHMENT AT CURRENT PRICES (£M) 2002 -2012 |
8 |
| CHART 2 |
INTEREST RATES AND INFLATION (CPI) FROM 1990-2010 |
11 |
| CHART 3 |
PDI & SAVINGS RATIO AT CURRENT PRICES 1990-2010 |
13 |
| TABLE 4 |
EXCHANGE RATE FLUCTUATIONS 2000-2008 - STERLING TO THE DOLLAR, AND THE EURO, SPOT RATES |
15 |
| CHART 5 |
AGE DISTRIBUTION OF THE RESIDENT UK POPULATION 2001 (000) |
16 |
| TABLE 6 |
CONTRACTORS OUTPUT FIT OUT & INTERIOR REFURBISHMENT AT CURRENT PRICES (£M) 2002 -2012 |
19 |
| CHART 7 |
PUBLIC SECTOR CONSTRUCTION OUTPUT - % BY TYPE OF NEW WORK 2007 |
21 |
| TABLE 8 |
TRENDS IN KEY BUILDING PRODUCT PRICES 2006-2007 |
23 |
| TABLE 9 |
TRENDS IN AVERAGE WAGES FOR KEY FIT-OUT TRADES APRIL 2006 APRIL 2007 |
24 |
| CHART 10 |
UK CONSTRUCTION NEW WORK ORDERS FOR KEY NON-DOMESTIC SECTORS AT CURRENT CONTRACTORS PRICES £ MILLION 2003 -2007 |
25 |
| CHART 11 |
UK INTERIOR FIT OUT & REFURBISHMENT MARKET BY END USE SECTOR BY VALUE - 2007 |
27 |
| CHART 12 |
CENTRAL LONDON OFFICE MARKET OFFICE TAKE UP (MILLION SQ. FT) |
29 |
| CHART 13 |
CENTRAL LONDON OFFICE MARKET OFFICE VACANCY RATES % |
30 |
| TABLE 14 |
CONTRACTORS OUTPUT IN THE OFFICE SECTOR 2002-2007 (£M) |
31 |
| TABLE 15 |
FIT-OUT COST FOR COMMERCIAL OFFICE SECTOR (BY END USE) (£/SQ. FT.) |
32 |
| TABLE 16 |
PRINCIPAL CITY CENTRE OFFICE MARKETS DEVELOPMENT STATISTICS |
33 |
| CHART 17 |
CENTRAL LONDON OFFICE MARKET AREA UNDER CONSTRUCTION (MILLION SQ. FT) |
34 |
| TABLE 18 |
CONTRACTORS NEW WORK OUTPUT IN THE COMMERCIAL OFFICE SECTOR 2008-2012 (£M) |
36 |
| CHART 19 |
CENTRAL LONDON OFFICE DEVELOPMENT PIPELINE 2007-2010 |
37 |
| CHART 20 |
REGIONAL CITY OFFICE DEVELOPMENT PIPELINE 2007-2010 |
38 |
| TABLE 21 |
KEY BUSINESS PARK DEVELOPMENTS IN THE PIPELINE - 2007 |
39 |
| CHART 22 |
NUMBER OF UK VAT BASED RETAIL ENTERPRISES (SIC 52) 2000 -2007 |
41 |
| TABLE 23 |
NO. RETAIL ENTERPRISES IN KEY MARKETS FOR FIT OUT & INTERIOR REFURBISHMENT 2001 -2007 |
42 |
| CHART 24 |
UK RETAIL MAIN SECTORS -ANNUAL TURNOVERS £M 2000 2006 |
43 |
| CHART 25 |
NET CAPITAL EXPENDITURE BY MAJOR UK RETAIL SECTORS (SIC 52) £M 2000 2006 |
44 |
| TABLE 26 |
MAJOR GROCERY MULTIPLES CAPITAL INVESTMENT PROGRAMMES 2007-08 |
46 |
| CHART 27 |
UK MARKET FOR CONVENIENCE STORES BY NUMBER OF OUTLETS BY TYPE OF OPERATION - 2007 |
47 |
| TABLE 28 |
MAJOR COOPERATIVE GROUPS CAPITAL INVESTMENT PROGRAMMES 2007 |
48 |
| TABLE 29 |
MAJOR GROCERY MULTIPLES CAPITAL INVESTMENT PROGRAMMES 2008-2012 |
50 |
| TABLE 30 |
MAJOR HIGH ST. GROUPS CAPITAL INVESTMENT PROGRAMMES 2008-2010 |
51 |
| TABLE 31 |
EDUCATION ESTABLISHMENTS BY TYPE IN THE UK - 2006 |
52 |
| TABLE 32 |
TOTAL NUMBER OF HIGHER EDUCATION INSTITUTIONS IN THE UK - 2005 |
53 |
| CHART 33 |
UK EDUCATION CAPITAL EXPENDITURE 2004-2008 (£ BILLION) |
54 |
| CHART 34 |
AGE OF HIGHER EDUCATION BUILDINGS IN THE UK 2004* |
55 |
| TABLE 35 |
CONTRACTORS OUTPUT OF EDUCATION SECTOR WORK (PUBLIC/PRIVATE) 1996-2007 (£M) |
56 |
| TABLE 36 |
PROJECTED* NUMBER OF BSF SCHOOLS OPEN |
WAVES 1-7 |
58 |
| TABLE 37 |
NHS CAPITAL SPENDING 2003-2008 (£M) |
62 |
| TABLE 38 |
CONTRACTORS OUTPUT OF HEALTH SECTOR WORK (PUBLIC/PRIVATE) 2002-2007 (£M) |
63 |
| TABLE 39 |
NHS CAPITAL SPENDING 2006-2011 (£BN) |
64 |
| TABLE 40 |
NHS PRIMARY CARE TRUST SPENDING ALLOCATIONS 2003-2010 (£BN) |
65 |
| CHART 41 |
KEY LEISURE SECTORS NO. ENTERPRISES (2000 2007) |
67 |
| CHART 42 |
TURNOVERS IN KEY LEISURE SECTORS 2000 - 2007 |
70 |
| TABLE 43 |
ENTERTAINMENT & LEISURE FACILITY CONSTRUCTION CONTRACTORS OUTPUT FOR NEW WORK (£M) AT CURRENT PRICES 2002-2007 |
72 |
| CHART 44 |
NET CAPITAL EXPENDITURE IN KEY LEISURE SECTORS 2000 - 2007 |
73 |
| TABLE 45 |
HOTEL DEVELOPMENT PIPELINE TOTAL ESTIMATED NEW BUILD HOTELS & ROOMS BY 2011 |
75 |