Subbies get £7m lifeline on ISG Cardiff schools siteCardiff Council is making £7m of payments to subcontractors and suppliers for completed work on the £108m Fairwater Community Campus job which came to a halt when main contractor ISG collapsed.
The council has also appointed Borley Engineering Services Ltd (BESL) as the emergency interim principal contractor to ensure that work on site can…
Graham wins £69m London Stratford flats jobProperty investor Greystar has teamed up with contractor Graham to deliver a near 250 flats scheme in Stratford, East London.
Backed by a £69m debt facility arranged by Societe Generale, its Stratford Mill project will regenerate a brownfield site with buildings rising from 2 to 12 storeys.
Around 42 of the homes will be affordable, funded by Sovereign…
Mace to complete construction of ISG neuroscience centreMace has bee awarded the contract to complete a neuroscience building in central London for UCL where work stopped when original builder ISG collapsed.
ISG had been working on the £300m scheme since 2019 with the building topping out in May 2023.
UCL said Mace was appointed “after a robust procurement and selection process” whic…
Refurb contractor Troy Central goes into administrationAdministrators are now in charge at Suffolk based refurbishment contractor Troy Central Ltd.
The firm specialised in the hotel, leisure and commercial sectors working on jobs up to £3m in value.
Joint administrators from Grant Thornton took charge of the business last week.
Latest accounts for Troy for the year to August 31 2023 show a…
Forterra trying to pass on NI cost increasesBrick and concrete block giant Forterra is planning its latest cost increases including passing on Employers’ National Insurance increases announced in the recent Budget.
The firm has written to customers outlining its plans and will now gauge if the market will wear the increases.
In its latest trading statement Forterra said: “We anticipate modest…
Cost of HS2 bat shed hits £100mThe cost of building a bat protection tunnel structure on a stretch of the HS2 route in Buckinghamshire has risen to £100m.
The initial package for the arched structure spanning four tracks – two HS2 lines as well as two East West Rail lines – was originally budgeted at £40m when procurement started three years ago.
But HS2 chairman Sir John Thompson…
ISG collapse brings down glazing contractorAdministrators called-in at Vitrine Systems Limited have blamed the collapse of ISG for the demise of the architectural and structural glazing specialist.
Experts from business advisory firm Quantuma said Surrey-based Vitrine Systems “entered administration as part of the fallout from the ISG administration.”
They added: “This resulted in a larg…
JRL close to deal on sale of stake to Far Eastern buyerDiversified construction group JRL is close to striking a deal to sell a stake in the £826m turnover business.
Talks with a Far Eastern property and construction group are described as being ‘very advanced’.
The deal will strengthen JRL’s balance sheet and boost liquidity while opening the opportunity to take forward schemes for t…
Groundworks firm Corbyn files administration noticeLondon based groundworks and concrete frame specialist Corbyn Construction has filed a notice of intention to appoint an administrator.
Corbyn has been in business since 1989 undertaking projects up to £30m across the capital.
Latest accounts for the company for the year to June 30 2023 show a turnover of £32.8m generating a pre-tax profit of…
Vistry takes another £50m hit on build cost blundersVistry has issued another £50m profit warning after discovering more under-estimated build costs at its southern division.
The house builder issued a £115m profit warning last month after problems first came to light on nine schemes in the region.
Vistry launched a review across the whole business and issued another Stock Exchange statement…