Construction news

• Green light for City of London’s largest public square

  22-06-2023 17:08
  
  The City of London Corporation has approved plans to close the 1970’s gyratory road around St Paul’s to create the Square Mile’s largest piazza.
  The £14m-plus project will close the south section of King Edward Street to create a large, new public space which, at just over 3000 sq m, would be larger than Aldgate Square.The plan will transform the streets and public realm between the old Museum of London site and St. Paul’s Underground station.Architect LDA Design ha
  
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• HS2 delay adds £360m to overall cost

  22-06-2023 14:44
  
  The two-year programme delay imposed on key sections of HS2 phase 1 will inflate the overall project cost by at least £360m.
  The first stab at what the true cost of delaying works to control day-to-day project costs has emerged in leaked internal Government documents.
  The briefing also warns the two-year pause to construction work on key sections at Euston and phase 2a between Birmingham and Crewe will actually set work back 3.5 years when taking into account re-mobilisation to full capaci
  
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• Five land £485m Magnox clean-up deal

  22-06-2023 13:02
  
  Five suppliers have been awarded a framework contract for the Magnox decommissioning programme worth £485m.
  Work on 10 reactor sites, two research sites and one hydro-electric plant across the UK operated by Magnox will involve complex nuclear infrastructure decommissioning and asbestos removal services.The winning firms are:Costain
  Keltbray
  The Celadon Alliance of Altrad Support Services, KDC Veolia Decommissioning Services annd NSG Environmental Ltd
  Kaefer UK & Ireland
  NuviaPaul Wink
  
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• Landsec ‘greens’ Manchester £400m Mayfield scheme

  22-06-2023 12:30
  
  Developer Landsec has revised plans worth £400m to build two landmark office buildings in Manchester city centre.
  The office buildings making up the first phase of the city centre £1.5bn Mayfield regeneration scheme will become net zero exemplars under the revised plans.
  New plans for the Mayfield neighbourhood highlight the shift towards premium, sustainable office space in the best locations, as businesses adapt their workspace to attract talent and meet the changing needs of staff
  
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• £20m of missing kit blows hole in Speedy accounts

  22-06-2023 09:00
  
  Hire giant Speedy saw profits slump in its latest accounts after £20m of kit was discovered “missing” earlier this year.
  The hire giant launched a probe in February after a count-up of its kit revealed a £20.4m stock deficit in smaller site items like scaffolding towers, fencing and non-mechanical plant.
  The investigation ruled out fraud and blamed the issues on “problems with the company’s controls and accounting procedures for non-itemised assets over a numb
  
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• Mace raises tender price forecast as wages rise again

  22-06-2023 08:35
  
  Mace has increased its tender price forecast in light of further inflation.
  The latest forecast balances the positive economic growth in the first quarter, the rate of material prices continuing to cool – but also the recent news that the UK economy continues to suffer from significant inflation.
  As a result, the consultancy arm has raised its 2023 tender price forecast from 2.5% to 3.0% in London and 3.5% elsewhere, with the forecasts for the following two years also nudged upward.The rep
  
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• Lendlease kicks off £3.5bn Silvertown regen scheme

  22-06-2023 08:11
  
  Lendlease has broken ground at its £3.5bn Silvertown scheme to regenerate a swathe of land at London’s Royal Docks that has remained derelict for over 40 years.
  Plans to transform the historic 60-acre Dockland site near the Thames Barrier will include the restoration of the iconic Millennium Mills, and see the construction of 6,500 homes, alongside leisure and cultural facilities, and workspaces.
  The delivery team Silvertown Partnership includes Lendlease working in conjunction with
  
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• Willmott Dixon vows to recover building safety millions

  22-06-2023 08:04
  
  The cost of complying with the Building Safety Act has blown a hole in the latest accounts from Willmott Dixon.
  And the contractor vowed to go after “designers, fire engineers, supply chain and insurers” to reclaim a “substantial portion” of the £62m it has set aside for building safety and cladding retrofits.
  Accounts for the year to 31 December 2022 show turnover up to £1.15bn from £1.1bn last time generating an operating loss of £15,000 from a &
  
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• Multiplex takes £500m BBC TV Centre phase 2

  22-06-2023 01:20
  
  Multiplex has bagged the job to start the £500m second phase of the  redevelopment of the former BBC Television Centre in London’s White City.
  Development managers Mitsui Fudosan and Stanhope picked Multiplex to start the next phase after its rival Mace completed the first phase of the vast scheme.
  Multiplex will act as construction manager on the £200m-plus job to deliver 345 flats in two blocks.Multiplex secured the project following a break-through £120m deal with
  
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• Multiplex pips Mace to £500m BBC TV Centre phase 2

  22-06-2023 01:20
  
  Multiplex has bagged the job to start the £500m second phase of the  redevelopment of the former BBC Television Centre in London’s White City.
  Development managers Mitsui Fudosan and Stanhope picked Multiplex to start the next phase after its rival Mace completed the first phase of the vast scheme.
  Multiplex will act as construction manager on the £200m-plus job to deliver 345 flats in two blocks.Multiplex secured the project following a break-through £120m deal with
  
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• Tamdown faces £2m hit if ilke Homes collapses

  22-06-2023 00:26
  
  Groundworks contractor Tamdown stands to lose £2m if modular housing contractor ilke Homes falls into administration.
  Its AIM-listed parent company Nexus issued a profit warning to the market following Construction Enquirer’s report yesterday that Ilke Homes has file a notice of intent to appoint an administrator.
  The notice holds creditors at bay for 1o days while the business fights for its survival to find an investor to save the modular business.
  Many other contractors and suppli
  
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