Construction news

• Ferrovial Construction UK suffers £30m loss

  23-05-2023 16:37 via constructionenquirer.com
  
  Ferrovial Construction UK suffered a £30m loss last year after making provisions for forecast losses on the Silvertown tunnel project in East London.
  The firm revealed total provisions of £54m on the project for the year ending 31 December 2022. This figure is made up of £19.6m for defects and warranties and £31.3m forecasted losses.
  Ferrovial said the forecast losses were driven by inflation in materials and labour markets against the constraint of a fixed price contract
  
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• Ferrovial Construction UK plunges to £30m loss

  23-05-2023 16:37 via constructionenquirer.com
  
  Ferrovial Construction UK suffered a £30m loss last year after big provisions for forecast losses on the £2bn Silvertown Tunnel project in East London.
  The firm revealed total provisions of £54m on the project for the year ending 31 December 2022. This figure is made up of £19.6m for defects and warranties and £31.3m of forecasted losses.
  Ferrovial said the expected losses were driven by inflation in materials and labour markets against the constraint of a fixed pri
  
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• Helical to start £100m London office refurb job

  23-05-2023 09:13 via constructionenquirer.com
  
  London developer Helical confirmed this morning that it is pressing ahead with a major office revamp job near Blackfriars Station in the capital.
  Mace is understood to be lined up to build the 100 New Bridge Street project, which will now get underway in November with Keltbray carrying out demolition.
  It is one of several major schemes to being going ahead in the Fleet Street area of London, creating a mini boom in the area.
  As part of the redevelopment of the 1990s office building, located
  
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• Contractor collapse causes losses at Watkin Jones

  23-05-2023 08:45 via constructionenquirer.com
  
  Watkin Jones suffered a loss in the six months to March 31 2023 as its balance sheet was hit by the collapse of the main contractor on a scheme in Exeter and the cost of making 10% of staff redundant.
  Half year results for the build-to-rent specialist show a pre-tax loss of £800,000 compared to £16.6m last time as turnover dropped to £153.9m from £193m.
  But Watkins Jones is confident of a second half recovery as it confirmed the forward sale of a 819 bed scheme in Bristol
  
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• Barratt board requests chairman John Allan resigns

  23-05-2023 08:30 via constructionenquirer.com
  
  Barratt chairman John Allan is to step down early at the end of next month, following allegations of inappropriate behaviour at his other chairmanship with retailer Tesco.
  This morning Barratt confirmed that Allan would be replaced by Caroline Silver Chair designate with effect from 1 June rather than September as originally planned.
  Allan is understood to have decided to leave prematurely at the request of the board which decided it was in the best interests of Barratt to accelerate the planned
  
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• Barratt board requests chairman John Alan resigns

  23-05-2023 08:30 via constructionenquirer.com
  
  Barratt chairman John Alan is to step down early at the end of next month, following allegations of inappropriate behaviour at his other chairmanship with retailer Tesco.
  This morning Barratt confirmed that Alan would be replaced by Caroline Silver Chair designate with effect from 1 June rather than September as originally planned.He is understood to have decided to leave prematurely at the request of the board which decided it was in the best interests of Barratt to accelerate the planned trans
  
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• London office revamps rise to all-time high

  23-05-2023 01:19 via constructionenquirer.com
  
  London has seen a record volume of office refurbishment starts in the six months to March.
  According to Deloitte’s Summer 2023 London Office Crane Survey the race to avoid stranded assets has seen 37 office refurbishments start covering 3.2m sq ft.
  This increase has been driven by a need to reach the anticipated Minimum Energy Efficiency Standard (MEES) regulations to achieve Energy Performance Certificate (EPC) B rating by 2030.
  Demand is shifting to the highest quality space, with employ
  
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