Refurbishment is a large and ever-present element of construction workload, and one that becomes more important in a downturn. At this point in the cycle, cash-strapped clients who would rather go down the new-build route are forced by circumstance to make do with the buildings that they have.

The recent cancellation of much of the Building Schools for the Future programme, and the expansion of academies based on existing schools illustrates this trend, with the emphasis shifting to investment in improving existing stock. Asset-rich clients such as universities and healthcare trusts face a similar challenge.

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