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Interior Refurbishment and Fit-Out Market Report - UK 2018-2022

Published: 14/05/2018 / Number of Pages: 81 / Price: £845.00

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Introduction and Overview

The 7th edition of AMA Research's report on the UK interior refurbishment and fit-out market provides detailed insight including a review of important trends and influences in the industry. It reviews the UK market for interior refurbishment and fit out services, covering all non-domestic building applications from the perspective of prime fit-out and interior refurbishment contractors.

Key content covered:

  • Interior refurbishment and fit out market - size, structure, key trends and market prospects.
  • Construction activity - review of current and future new build output in key end use sectors.
  • End-use sectors - commercial offices, retail, education, healthcare and leisure & entertainment.
  • Supply and distribution - review of leading contractors and trends within the supply sector.
  • Market forecasts - overall and for key end use sectors up to 2022.

Key areas of insight include:

  • Key market trends - market size and recent trends and developments.
  • Construction activity - shift from new build to refurbishment and upgrading of properties in offices, healthcare and education sectors etc.
  • Review of key market sectors - commercial offices, retail, education, healthcare and leisure & entertainment sectors.
  • Supply chain review - analysis of key contractors, as well as main procurement methods.
  • Market prospects to 2022 - analysis of the key factors affecting future industry direction.
  • Detailed market data and insight on the interior refurbishment and fit-out market by AMA Research, a leading UK provider of construction market intelligence.

Some of the companies included:

8Build, Alan Nuttall Partnership, Beck Interiors, Byrne Group, BW Workplace Interiors, Clark Contracts, Collins Construction, Como Interiors, County Contractors, Fourfront Group, Gilbert-Ash, Harvey Shopfitters, Havelock Europa, Mac-Interiors, Maris Interiors, Modus Workspace, Morris & Spottiswood, Oktra, Paragon, Parkeray, Simpson (York), Structure Tone UK, Styles & Wood Group, Tétris-bluu, Wates Smartspace, Willmott Dixon Interiors (WDI).

Market Overview

  • UK Market size by value - data for 2013-2017, with forecasts for 2018-2022 period.
  • Key market issues - public sector budgets, construction industry skills shortages, continued growth of e-commerce, greater use of BIM techniques, etc.
  • Construction output - new build output for key market sectors and market prospects.
  • End use market mix - for 2017 and 2022, covering offices, retail, education, healthcare and leisure/entertainment.

Key End Use Sector Review

  • Offices - demand for commercial offices within Central London market (e.g. City, West End, Docklands) and other leading UK cities, plus shortages of Grade A office space and changing workplace design.
  • Retail - shift in emphasis from large-scale developments to smaller format stores, growth of multi-channel retailing due to rising penetration of online shopping (e.g. Click & Collect).
  • Education - demand for upgrades and refurbishment from schools, colleges and universities, changing pupil and student numbers, impact of Government measures (e.g. Priority Building for Schools) and investments into student accommodation.
  • Leisure/entertainment - levels of refurbishment taking place in hotels, pubs/clubs, restaurants, gyms and fitness clubs, cinemas and betting/gaming, as well as strong growth in demand from budget chains in the hotels and gyms/fitness clubs sectors.
  • Healthcare - continued impact of Government legislation changing the shape of the UK healthcare industry, move towards provision of more locally-based services, rationalization of the NHS estate to release funds and likelihood of investment into the care homes sector to cope with the ageing population.

Market Structure and Supply

  • Overview of industry structure - market polarisation and fragmentation, participation by large national builders, leading contractors etc.
  • Company profiles - split by turnover bands, providing information such as financial performance, merger and acquisition activity, recent new product innovations, etc.

Report Summary

Given the broad interpretation of 'interior refurbishment', the market definition used for the purposes of this report primarily consists of main contractors typically managing the interior fit-out element of non-domestic new build/shell & core developments and full upgrades or refurbishment of existing non-domestic premises.

The interior fit-out and refurbishment market, as defined in this report, has increased by 34% since 2013 in value terms. However, annual growth levels are starting to slow with more constrained growth forecast, for reasons such as the uncertain state of the UK economy, the deferral of major investment decisions, cuts to public sector budgets and a continued scaling back of large construction programmes.

In many end use sectors, demand for refurbishment services is being led by changes in the way industries operate, e.g. a much greater emphasis upon technology-based learning in schools and universities, as well as rising expectations amongst students, which has led to significant improvements in many HEI facilities. Annual levels of growth of around 2-3% are forecast for the next few years.

From a supply perspective, the industry remains fragmented. There have been relatively few major entrants into the interior refurbishment and fit-out market in recent years, since much of the turnover generated from leading companies is from repeat business or long-term contracts and store roll-out programmes. However, an increasing number of large national contractors have diversified into or expanded their operations within the fit-out market.


List of Report Contents

  1. Contents Listing
  2. 1. INTRODUCTION 7
  3. 1.1 BACKGROUND 7
  4. 2. SUMMARY 9
  5. 2.1 BACKGROUND 9
  6. 2.2 MARKET PROSPECTS 10
  7. 3. ECONOMIC ENVIRONMENT 12
  8. 3.1 GDP 12
  9. 3.2 INFLATION & INTEREST RATES 13
  10. 3.3 UNEMPLOYMENT 14
  11. 3.4 HOUSEHOLD CONSUMPTION 15
  12. 3.5 HOUSING & CONSTRUCTION 15
  13. 3.6 STERLING 16
  14. 3.7 POPULATION PROFILE 16
  15. 3.8 CONCLUSIONS 17
  16. 4. OVERVIEW OF FIT-OUT & INTERIOR REFURBISHMENT MARKET 18
  17. 4.1 DEFINITION 18
  18. 4.2 MARKET SIZE & TRENDS 18
  19. 4.2.1 Market Background and Size 18
  20. 4.2.2 Market Prospects 20
  21. 4.2.3 End Use Sector Mix 21
  22. 4.2.4 Construction Output 22
  23. 4.3 OTHER MARKET INFLUENCES 24
  24. 4.3.1 Building Information Modelling 24
  25. 4.3.2 Shortages in Traditional Construction Skills 25
  26. 4.3.3 Growth in E Commerce 26
  27. 5. COMMERCIAL OFFICES 28
  28. 5.1 INTRODUCTION 28
  29. 5.2 MARKET SIZE, TRENDS AND FORECASTS 29
  30. 5.2.1 Overview of the UK Office Market 29
  31. 5.2.2 Market Size and Recent Trends 32
  32. 5.2.3 Market Prospects 33
  33. 6. RETAIL 36
  34. 6.1 INTRODUCTION 36
  35. 6.2 MARKET SIZE, RECENT TRENDS AND FORECASTS 36
  36. 6.2.1 Market Size and Recent Trends 36
  37. 6.2.2 Market Prospects 39
  38. 7. EDUCATION 40
  39. 7.1 INTRODUCTION 40
  40. 7.1.1. Schools 40
  41. 7.1.2 Higher Education Institutions 42
  42. 7.2 MARKET SIZE, TRENDS AND FORECASTS 43
  43. 7.2.1 Education Interior Refurbishment and Fit Out Market Size 43
  44. 7.2.2 Schools and Colleges 44
  45. 7.2.3 HEIs 46
  46. 8. HOTELS, FOODSERVICE & LEISURE 49
  47. 8.1 INTRODUCTION 49
  48. 8.2 MARKET SIZE, TRENDS AND FORECASTS 50
  49. 8.2.1 Market Size and Trends 50
  50. 8.2.2 Hotels and Similar Accommodation 51
  51. 8.2.3 Food and Drinks Service Industry 53
  52. 8.2.4 Health & Fitness Centres / Leisure Centres 56
  53. 8.2.5 Other 56
  54. 9. HEALTHCARE 58
  55. 9.1 INTRODUCTION 58
  56. 9.2 MARKET SIZE, TRENDS AND FORECASTS 59
  57. 10. PROCUREMENT 63
  58. 10.1 COMMERCIAL OFFICES 63
  59. 10.2 RETAIL 64
  60. 10.3 SCHOOLS AND COLLEGES 65
  61. 10.4 HIGHER EDUCATION 66
  62. 11. MARKET STRUCTURE & SUPPLY 69
  63. 11.1 OVERALL STRUCTURE 69
  64. 11.2 COMPANIES WITH A TOTAL TURNOVER OF £100M PLUS 69
  65. 11.3 COMPANIES WITH TOTAL £50 - 99M TURNOVERS 73
  66. 11.4 COMPANIES WITH TOTAL > £10 - 49M TURNOVER 76
  67. 11.5 MAJOR CONSTRUCTION COMPANIES WITH FIT-OUT DIVISIONS OR UNITS 80
  1. Tables & Charts
  2. CHART 1: FIT-OUT & INTERIOR REFURBISHMENT MARKET SIZE AND FORECASTS BY OUTPUT VALUE (£ BILLION AT CURRENT PRICES) 2013 -2022 9
  3. TABLE 2: GDP DATA - 2015-2017 - KEY CONSTITUENT ELEMENTS 12
  4. CHART 3: INTEREST RATES AND INFLATION (CPI) FROM 2000-2022 14
  5. CHART 4: PDI & SAVINGS RATIO AT CURRENT PRICES 2000-2022 15
  6. TABLE 5: EXCHANGE RATE FLUCTUATIONS 2014-2020 - STERLING TO THE DOLLAR, AND THE EURO, SPOT RATES 16
  7. TABLE 6: UK FIT OUT & INTERIOR REFURBISHMENT MARKET SIZE AND FORECASTS £M 2013 -2022 18
  8. CHART 7: UK INTERIOR FIT-OUT & REFURBISHMENT MARKET BY END USE SECTOR (OFFICES, RETAIL, EDUCATION, HEALTHCARE, LEISURE ETC) BY VALUE 2017 & 2022 21
  9. CHART 8: NON-HOUSING CONSTRUCTION NEW WORK OUTPUT IN KEY MARKETS BY VALUE (£MILLION AT CURRENT PRICES) 2013-2021 22
  10. TABLE 9: UK CONSTRUCTION INDUSTRY BY PROFESSION, 2012-2022 (NUMBER OF WORKERS) 26
  11. CHART 10: NUMBER OF OFFICES IN ENGLAND & WALES BY REGION, 2017 29
  12. CHART 11: CENTRAL LONDON OFFICE MARKET - OFFICE TAKE UP (MILLION SQUARE FEET) FOR PERIOD Q1 2015-Q4 2017 30
  13. CHART 12: CENTRAL LONDON OFFICE MARKET - OFFICE VACANCY RATES (%) FOR PERIOD Q1 2015-Q4 2017 31
  14. CHART 13: OFFICES INTERIOR REFURBISHMENT AND FIT OUT BY VALUE (£ MILLION) 2012 -2022 32
  15. TABLE 14: VALUE OF CONTRACTORS OUTPUT IN THE OFFICE SECTOR £M 2013-2021 33
  16. CHART 15: CENTRAL LONDON OFFICE MARKET - OFFICE SPACE UNDER CONSTRUCTION (MILLION SQUARE FEET) FOR PERIOD Q4 2015-Q4 2017 34
  17. CHART 16: RETAIL INTERIOR REFURBISHMENT AND FIT OUT BY VALUE (£ MILLION) 2012 -2022 36
  18. CHART 17: RETAIL NEW WORK OUTPUT BY VALUE (£ BILLION AT CURRENT PRICES) 2013 -2021 37
  19. TABLE 18: UK RETAIL VALUE SALES EXCL. AUTOMOTIVE & FUEL - NOT SEASONALLY ADJUSTED - 2013-2017 (£BN) 37
  20. TABLE 19: UK EDUCATIONAL ESTABLISHMENTS BY NUMBERS AND HEADCOUNTS, 2017 40
  21. TABLE 20: EDUCATION CONTRACTORS NEW WORK OUTPUT (£M) 2012-2021 43
  22. CHART 21: EDUCATION INTERIOR REFURBISHMENT AND FIT OUT BY VALUE (£ MILLION) 2012 -2022 44
  23. CHART 22: NUMBER OF STUDENT ENROLMENTS IN THE UK (MILLION STUDENTS) - 2012/2013-2016/2017 46
  24. CHART 23: UK ENTERTAINMENT MARKET - SHARE OF REVENUE BY SECTOR - FOOD SERVICE, HOTELS, PUBS, HEALTH CLUBS ETC. 2017 49
  25. CHART 24: LEISURE INTERIOR REFURBISHMENT AND FIT OUT BY VALUE (£ MILLION) 2012 -2022 50
  26. CHART 25: LEISURE AND ENTERTAINMENT CONSTRUCTION NEW WORK OUTPUT BY VALUE (£ BILLION AT CURRENT PRICES) 2013 TO 2021 51
  27. CHART 26: TURNOVER IN THE UK HOTEL SECTOR (£ BN AT CURRENT PRICES) 2013 TO 2021 52
  28. TABLE 27: TOP UK FOODSERVICE GROUPS BY OUTLET NUMBERS 2017 54
  29. CHART 28: HEALTHCARE INTERIOR REFURBISHMENT AND FIT OUT BY VALUE (£ MILLION) 2012 -2022 59
  30. CHART 29: HEALTHCARE CONSTRUCTION NEW WORK OUTPUT BY VALUE (£ BILLION AT CURRENT PRICES) 2013 TO 2021 60
  31. TABLE 30: MAIN PRIVATE LANDLORD-DEVELOPERS ESTATES SIZES AND SUB-REGIONS 63
  32. TABLE 31: UK RETAIL INDUSTRY - INTERIOR REFURBISHMENT & FIT OUT CONTRACTORS 65
  33. CHART 32: FIT-OUT & INTERIOR REFURBISHMENT CONTRACTORS MIX 2016/2017 69

The 'Interior Refurbishment and Fit-Out Market Report - UK 2018-2022' costs £845+VAT (if applicable) for a PDF version.

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