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Severfield targets 'Gotham City' after return to profit

Steel specialist Severfield will bid for supply contracts on a number of London’s highest-profile projects, including the ‘Gotham City’ development and the new Tottenham Hotspur stadium.

Chief executive Ian Lawson told Construction News Severfield was planning imminent bids for the £400m Henderson Global Investors scheme in the City, said to be inspired by the Batman films (pictured), as well as the redesigned Pinnacle tower at 22 Bishopsgate.

Bids for contracts on both jobs could be tabled as early as August.

Mr Lawson said: “There are some really big schemes coming up – commercial projects in London.

“In terms of Gotham and [22 Bishopsgate], I think we will be bidding within the next couple of months.”

‘Gotham City’ on Leadenhall Street was granted planning permission in February last year.

It will include 890,000 sq ft of office space and 20,000 sq ft of retail space.

Last week, new designs were unveiled for the proposed 62-storey tower at Bishopsgate.

Work on the old scheme was suspended in 2012 after planning permission had originally been granted in 2007.

“We are incredibly disappointed with Leadenhall but it is a legacy in the past and we have to make sure it doesn’t happen in the future”

Ian Lawson, Severfield

Severfield is also expected to target work on the new Tottenham Hotspur stadium and the redevelopment of court one at Wimbledon.

“Wimbledon are putting a new roof on Number One Court [and] we did Centre Court originally, so yeah, there are a number of good schemes for us out there,” Mr Lawson said.

“We are already talking to people and bids are probably due on all of those schemes – well certainly Spurs, Gotham and [22 Bishopsgate] – and I think these will be over the next two to three months.”

The new Tottenham Hotspur stadium in north London is now set to go ahead after the High Court threw out an appeal against compulsory purchase orders on local businesses.

Mr Lawson was speaking after Severfield announced a return to profit in the wake of its multi-million-pound bill to replace 3,000 bolts on the Leadenhall Building after a number fell from the tower, popularly known as the Cheesegrater.

The firm last week unveiled pre-tax profit of £144,000 for 2014/15, having recorded a loss of £2.6m the previous year.

Severfield also announced that the cost of replacing the Cheesegrater bolts could run to £6m.

“We are incredibly disappointed with Leadenhall but it is a legacy in the past and we have to make sure it doesn’t happen in the future,” Mr Lawson said.

Three mega-bolts failed on the 238 m building between November and January, prompting the fitting of replacements.

“I appreciate it is a story, but there is a bigger story [about] how the business over the last two years has been turned around quite substantially.

“We have an underlying profit of £8m, we have a very strong pipeline of work – it is just a shame that Leadenhall gets in the way.”

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