A lot has happened in a single month. I had intended to write about the confidence of the North East and the talent available in the region within the construction sector and I still intend to
Just like the stock markets; its easy to say now its not the time to invest as the markets have dipped and panicked, yet the savvy investor is now looking at the bargains and the good value to be had. That wise investor will purchase now in the hope of securing profits down the line when the markets inevitably recover as the world gets going again. These may seem strange words from an architect, but like everyone else, I am affected by the impact of CV19 and the monumental effect it is having on our business and personal lives.
I have likened the economic state to the equivalent of putting petrol in a diesel car and the immediate impact that has on the engine. Careful repair and it can all be made good again. I have lived through recessions before (and recoveries) and this is so different but there are significant parallels to be drawn. Here are my tips: Talk to people – So I am talking to my clients and sympathising with th eir issues but also looking for the opportunities that can come. We have several clients who are pressing on with projects as they recognise that the initial requirement for the new building or refurbishment hasnt changed, indeed for some its need is even greater.
Business as normal – Local authority planners are emphasising that applications are still welcome and have applied some common sense to issues of specific surveys and timelines on decision to help applicants, which all keeps the world moving along. Hold your nerve – I would encourage all clients to hold their nerve and indeed, if they can, to proceed. Not only does this aid the overall economy in keeping people working, but also puts them in a terrific position to be able to take advantage of the building markets when work resumes. When this all ends (and it will), those clients with projects ready to go to site will be well placed to speak to contractors who will be keen for serious clients to engage with. Contractors will also appreciate these clients more, which inevitably leads to better results.
Good Contractors – We have some tremendous building contractors in the region – small and large -and they have had to make difficult decisions on halting works on sites. Some have managed to keep going and they have had to keep within social distancing rules, deal with supply chain concerns from sub-contractors and find ways to obtain materials.
These are unique and difficult decisions to juggle and speaking with directors of these firms, have not been undertaken lightly. I have a few sites where progress starts can be made, but the issues are getting materials ordered and delivered. The work force also needs the confidence to know its safe.
I hope that within a few weeks a new kind of normal can resume, maybe limited at first but one which allows our contractors to get back to doing what they do best driving and building the regions economy forward with skill, care and hard work.
