One Eastside gave BCU students practical experience which increased their employability. BCU offers chartered surveyor and construction site management apprenticeships, and we have been delighted to welcome 11 apprentices on site.
A student academy was also established. Many students visited the site, taking part in work placements, on-site courses and training opportunities.
BCU established a student mentorship programme linked to One Eastside. This pioneered a new approach to manage indoor conditions and facilitate preventative maintenance that can be used as a blueprint for safe, healthy and environmentally friendly high rises.
A recent student described how creating a dynamic, AI-integrated digital twin of the development expanded their expertise in the Internet of Things and predictive analytics, and contributed to advancing environmental standards.
Pipeline of projects needed
PIC invests in assets like One Eastside because the long-term cash flows provided by investment-grade, illiquid investments, in particular UK infrastructure and housing, are a very important part of our ability to pay our policyholders’ pensions over the coming decades. Rental income from One Eastside will support the pensions of our policyholders, including 15,000 in the West Midlands.
PIC wants to invest in more projects of this scale and type, but are not seeing enough opportunities coming through. Councils should look at where they can package land into a pipeline of projects of sufficient size and duration that give investors the confidence to invest in local skills.
A lack of local planning capacity could frustrate this, so a privately funded, independently administered pipeline fund should be set up to provide specialist planning capacity to help local authorities clear backlogs.
The fund was recently recommended by the Purposeful Finance Commission, a forum focused on overcoming barriers to regeneration chaired by Tracy Blackwell, chief executive of PIC.
PIC is excited to work with local authorities and partners to develop what is needed, using the experience we gained in developments such as One Eastside.