Plans for part of what was once hailed as “the largest bespoke office development outside London” appear to have hit a dead end, after the client had a £67.5m loan cancelled by the local authority. THG, formerly called The Hut Group, won planning permission for a 288,000 square foot head…
HS2 minister Huw Merriman has pleaded with firms to rein in costs on the high-speed rail project, while restating the government’s commitment to the programme. During a visit yesterday to the Colne Valley Viaduct, Merriman told Construction News that he was keen to give the HS2 supply chain “the certainty…
The client behind a planned £3.8bn gigafactory in Northumberland has gone into administration. Britishvolt, the start-up driving the vehicle-battery gigafactory that was set to be built by ISG under a £300m contract, failed to secure enough equity investment to continue as a going concern. Administrators at EY-Parthenon said the majority…
Housebuilder Persimmon has claimed a “strong performance” in 2022 but warned that rising interest and mortgage rates, inflation and weaker consumer confidence will affect the health of the residential property sector this year. The company has already renegotiated or paused work at around 30 sites, citing “uncertain market conditions”, it…
New data from law firm Irwin Mitchell and the Centre for Economic and Business Research (CEBR) has underlined the gloomy outlook for the construction sector by warning that continued supply-chain pressures, a lack of raw materials and labour shortages will hit urban building and manufacturing in 2023. The UK City…
Troubled Britishvolt could sell a majority stake to an Indonesia-linked private equity firm, it has been reported. According to The Guardian, negotiations with London-based DeaLab Group could lead to a takeover of the UK electric-car-battery manufacturer and means construction work could resume on a £3.8bn battery cell gigaplant in Blyth, Northumberland.…
Standard Life Assurance has settled with architect Building Design Partnership (BDP) over the near-doubling of the cost of a scheme in Newbury, Berkshire. Costs on the project, which started in 2008 and completed in 2013, ballooned from an estimated £85m to £146m. The client had claimed £38m in damages from…
The government has unveiled a substantially less generous energy-support package for businesses from April. Announcing the new Energy Bills Discount Scheme (EBDS) for 2023/2024, exchequer secretary to the Treasury James Cartlidge said the new support will make up to £5.5bn available for a 12-month period from 31 March. This is…
Standard Life Assurance has partly settled a legal dispute with consultants over the near-doubling in cost of a mixed-use scheme in Newbury, Berkshire. The dispute stems from higher-than-expected costs for a retail and residential project called Parkway. When Costain won the fixed-price contract from client Standard Life in 2008, Gleeds…
Tilbury Douglas will lead the construction of what it has described as the UK’s first purpose-built “biophilic” primary school – with net-zero carbon emissions. The new St Mary’s Catholic Voluntary Academy in Derby – part of the St Ralph Sherwin Catholic Multi Academy Trust – is being built under a…
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