Construction news

• Spencer lifts profitability despite revenue fall

  19-10-2023 19:22 via constructionenquirer.com
  
  Hull-based multi-engineering contractor C Spencer Engineering Group has delivered resilient profits despite revenue fall by around a quarter to £52m.
  Pre-tax profit slipped slightly from £1.9m to £1.7m but overall operating margin improved on last year.
  Charlie Spencer, founder and chairman, said: “The considerable economic uncertainty during the year depressed capital investment in the UK economy, stalling the progress of a number of schemes as clients carefully consider
  
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• Modular contractor M-AR files administration notice

  19-10-2023 14:34 via constructionenquirer.com
  
  Hull based modular contractor Module-AR (M-AR) has filed a notice of intention to appoint an administrator.
  The firm has a 100,000 sq ft factory and recently won places on the government’s £10bn Offsite Solutions Framework and LHC Procurement Group’s Modern Methods of Construction of New Homes (NH3) Framework.
  Latest accounts for M-AR show the company had a turnover of £29.9m for the year ended March 31 2022 generating a pre-tax profit of £815,000.The accounts also
  
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• Green light for new office block by Tower of London

  19-10-2023 11:53 via constructionenquirer.com
  
  The City of London Corporation has granted planning permission for a venture between Hobart Partners and PineBridge Benson Elliot to develop a new office block in the Square Mile.
  ‘The Mark’ will provide 215,000 sq ft of new office space alongside 14,000 sq ft of cultural, food & beverage and retail space on Mark Lane near the Tower of London.
  Construction is due to start in early 2024 and will be completed in late 2026 on the scheme designed by Danish Architect 3XN.Shravan Joshi
  
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• Bidders day for £650m concrete road upgrades

  19-10-2023 09:02 via constructionenquirer.com
  
  National Highways is set to hold a bidders day ahead of a delivery partners shake-up for its major programme of concrete road replacement and repair work across the country.
  The works will be split between two frameworks, one covering major renewals works and the other minor works and repairs.
  National Highways has costed the five-year programme at around £650m.
  Under the present £400m five-year arrangement Morgan Sindall and John Sisk are carrying out major reconstruction works, wit
  
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• Telford Homes plunges to £193m loss

  19-10-2023 09:01 via constructionenquirer.com
  
  London private rental flats developer Telford Homes booked a £193m loss for last year after taking stock of potential remedial building safety works.
  The losses are a significant setback for global real estate investor CBRE, which bought the London housing developer/builder four years ago for £267m.
  Before the take-over Telford Homes espoused the merits of its shift to a lower risk build to rent model, delivering projects for housing associations and specialist rental property invest
  
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• Engineering construction workers vote to strike over pay

  19-10-2023 09:00 via constructionenquirer.com
  
  Thousands of engineering construction workers at energy sites across the country have voted to strike.
  The action could include up to 3,000 workers at Stanlow, Fawley, Valero, Grangemouth and Mossmorran Oil Refineries, as well as at Sellafield nuclear facility.
  Further strike votes are also expected at Drax and Hartlepool nuclear power station in the coming days.The workers, who are covered by the National Agreement for the Engineering Construction Industry (NAECI), voted to turn down a pay deal
  
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• GRAHAM lands £20m Lincoln infrastructure deal

  19-10-2023 08:35 via constructionenquirer.com
  
  GRAHAM has been appointed by the City of Lincoln Council to design and deliver a £20m infrastructure package for its Western Growth Corridor development.
  Work will include the design and construction of new bridges and  access routes connecting the city to the regeneration site which will contain 3,200 new homes.
  GRAHAM will start main construction work next year and a range of ground surveys are now underway.GRAHAM Contracts Director Alastair Lewis said: “We’re thrilled t
  
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