Construction news

• Failed London fit-out specialist owed trade firms £13m

  18-05-2022 19:22 via constructionenquirer.com
  
  London and south east fit-out and refurbishment specialist Twenty 1 Group collapsed leaving over 300 trade firms nearly £13m out of pocket.
  The extent of debts at the main trading companies, Twenty 1 Construction and Twenty 1 Interiors, has been exposed in a report from administrator Grant Thornton.
  Trade creditors were warned that HMRC, preferred creditor, was owed £9.7m, meaning there would be no funds available to pay them.
  In retentions alone £3.3m was held by Twenty 1 Cons
  
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• Failed London fit-out specialist owed trade firm 13m

  18-05-2022 19:22 via constructionenquirer.com
  
  London and south east fit-out and refurbishment specialist Twenty 1 Group collapsed leaving over 300 trade firms nearly £13m out of pocket.
  The extent of debts at the main trading companies, Twenty 1 Construction and Twenty 1 Interiors, has been exposed in a report from administrator Grant Thornton.
  Trade creditors were warned that HMRC, preferred creditor, was owed £9.7m, meaning there would be no funds available to pay them.
  In retentions alone £3.3m was held by Twenty 1 Cons
  
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• British Land expects tender price inflation to hit 10%

  18-05-2022 08:59 via constructionenquirer.com
  
  Leading client British Land is expecting construction costs to rise 10% this year before dropping to around half that for the following two years.
  In its result statement to the city this morning British Land said: “Our inflation forecast (based on tender price inflation) has increased to around 8-10% in 2022 from our previous forecast of 4.5%, but we expect that to moderate over the next 18 months as wages and commodity prices remain elevated but do not increase at the same rate.
  “O
  
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• B&K returns to strong profit growth across the group

  18-05-2022 08:45 via constructionenquirer.com
  
  Derby-based building contractor Bowmer & Kirkland returned to strong profit growth last year.
  A strong performance across its construction and property operations saw pre-tax profit jump 23% to £65m in the year to August 2021.
  Despite continuing Covid challenges during the period, revenue ended slightly ahead of the previous year at a record £1.18bn.Strong cash management saw year-end net cash improve 7% to £514m and net assets reach £551m.
  Chairman Jack Kirkland, sai
  
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• L&G to pump £4m into West Midlands developments

  18-05-2022 08:37 via constructionenquirer.com
  
  West Midlands Combined Authority and Legal & General have today signed a partnership deal that will see L&G invest £4bn in regeneration, housing and levelling up across the region.
  The landmark agreement signed by L&G chief executive Sir Nigel Wilson and Mayor, Andy Street, is the first with a combined authority,  and sets out a commitment to a seven-year programme of investment.
  Alongside support for new commercial developments, the agreement envisages a major contributio
  
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• L&G to pump £4bn into West Midlands developments

  18-05-2022 08:37 via constructionenquirer.com
  
  West Midlands Combined Authority and Legal & General have signed a partnership deal that will see L&G invest £4bn in regeneration, housing and levelling up across the region.
  The landmark agreement signed by L&G chief executive Sir Nigel Wilson and Mayor, Andy Street, is the first with a combined authority,  and sets out a commitment to a seven-year programme of investment.
  Alongside support for new commercial developments, the agreement envisages a major contribution by L
  
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• Morgan Sindall set for £80m leisure and health hub

  18-05-2022 08:01 via constructionenquirer.com
  
  West Suffolk Council has named Morgan Sindall Construction preferred contractor for its nationally ground-breaking Western Way development in Bury St Edmunds.
  The £80m facility will bring together leisure centre with an integrated health and social care hub delivered at no cost to local tax payers.
  To help fund the scheme it will include large amounts of new employment space, council services, police, an advice centre, voluntary organisations, and community and education services, all loca
  
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