• Barratt claws back £38m from subcontractors in legacy job claims

    Barratt Redrow has clawed back £38m from subcontractors over defects on legacy developments, helping offset mounting building safety costs as the house builder prepares to double remediation spending to £300m this year.
    In a year-end trading update this morning, Britain’s biggest house builder highlighted the growing financial impact of legacy building issues, with the group taking an additional net legacy property provision charge of around £95m, alongside £13m of
  • Galliford Try profit set to hit top end of forecasts

    Galliford Try profit set to hit top end of forecasts
    Galliford Try expects annual profit to reach the top end of market forecasts after delivering a sixth consecutive year of revenue, profit and cash growth.
    Ahead of full-year results on 17 September, the contractor said revenue for the year to 30 June is expected to rise around 3%, with adjusted pre-tax profit towards the top of analyst expectations of around £53m.
    Chief executive Bill Hocking said that the group also had delivered another year of margin improvement as it worked towards a 4
  • Mace to start £150m former London City Hall retrofit

    Mace to start £150m former London City Hall retrofit
    Mace starts work this month on the £150m transformation of London’s former City Hall, returning to the landmark building it originally delivered 24 years ago.
    The contractor has been appointed by Kuwaiti-owned St Martins Property Investments to redevelop the former Greater London Authority headquarters at More London into a larger, low carbon office and retail destination.
    Designed by Gensler, with Waterman providing structural, mechanical and electrical engineering, the scheme will
  • Giant TBM order puts Lower Thames Crossing tunnel on track

    Giant TBM order puts Lower Thames Crossing tunnel on track
    National Highways has ordered Europe’s largest ever tunnel boring machine for the £10bn Lower Thames Crossing, with tunnelling work on track to begin in 2028.
    German manufacturer Herrenknecht will build the 16.4m diameter machine, which will be the third largest tunnel boring machine ever built worldwide. The machine will be bought and operated by the Bouygues Travaux Publics Murphy joint venture, which is delivering the twin-bore tunnel beneath the Thames.
    At 120m long and weighing
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