September contract awards top £6bn

construction

October 03, 2019 – While other indicators point to a UK construction industry frantically treading water and struggling to avoid going under, the Builders’ Conference contracts monitoring service suggest an industry continuing to motor ahead.

Builders’ Conference chief executive Neil Edwards says that the value of all new construction contracts signed in the UK in September 2019 was an above-average £6.5bn, more than reversing the 25% decline seen in August.

That total includes the £1bn contract that HS2 Ltd finally signed with Balfour Beatty Vinci Systra JV for its Old Oak Common station in Willesden. BBVS was initially named for the project back in February but a legal challenge by Bechtel delayed formal contract signing

That single contract was enough to propel the joint venture to the top of the Builders’ Conference BCLive contracts league for September 2019.

Balfour Beatty also took the second position in its own right, primarily because of a £638m six-year highway maintenance contract for Lincolnshire County Council.

Mace was in third, with four new contract awards with a combined value of £418.5m.  The largest of these is a £400m contract to build phase one of Chinese developer R&F Properties’ Nine Elms Square development in London. Mace will lead the construction of three towers and a podium with retail and residential amenities. Gross development value is £480m.

BCLive lists Ireland’s JJ Rhatigan in fourth place for a £217.6m development of offices and a hotel in Galway, with is not even in the UK so should not really count here.

Lendlease took the number five position with three new contract awards, including a £170m deal to build a new prison at HMP Glen Parva in Leicestershire that had previously been awarded to Interserve.

Kier won the most new contract awards – 18 – for a combined value of £151.9m. Kier’s haul includes a £39m office building for Durham County Council.

A total of 14 companies secured more than £100m-worth of new work. Other notable individual contract signings included a £100m flood defence project for Portsmouth City Council won by VolkerWessels and a £130m mixed-use development for Hull City Council won by Vinci.

Source:-https://www.theconstructionindex.co.uk/news/view/september-contract-awards-top-6bn

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