The leisure
construction sector has been one of the industry’s bright spots over recent
years, partly as a lower pound has created demand and building projects
involving more hotel rooms.
The early signs are
that the upturn in leisure construction market trends is continuing into 2018.
As well as continued expansion by the major hotel chains, building contractors
in the leisure sector are set to benefit from some major new sports stadiums.
Glenigan Construction market analysis shows that the value of underlying hotel and
leisure construction sector starts rose by 16% last year and the momentum
appears to be being maintained.
Glenigan research
for JLL shows construction starts in the leisure sector rose 16% in the three
months to February 2018, compared to the period a year earlier, and as the
pipeline strengthens, it should translate into an 11% rise in construction
projects starts in the sector this year.
The sector is also
set to benefit from a pick-up in on construction works on sports stadiums.
Detailed plans have
been submitted for a £100 million extension to the main stand at Crystal Palace
FC’s Selhurst Stadium in Croydon where work is set to start next Spring and
should run for 36 months.
Elsewhere, Fulham
(pictured) has recently been granted permission for an £80 million redevelopment of its
Riverside Stand at Craven Cottage, where construction works are expected to
start next year.
Meanwhile, new
sports stadiums are part of a mix of construction projects worth £750 million
for the 2022 Commonwealth Games in Birmingham – including an upgrading of
Alexandra Stadium and a new aquatic centre in Sandwell – which is at the
pre-tender stage and is set to start in the city this summer.
