A look at the numbers behind Chelsea’s decision to shelve its new stadium, trade bodies at war over retentions, and Interserve’s EfW woes.
£83m – Cost hike on ex-Interserve EfW
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The figure was revealed in Pennon’s financial accounts for the year to 31 March 2018, which also showed that the operator expects to receive £68.7m from Interserve to cover additional costs.Construction News understands this value has not been agreed by Interserve.
£458.8m – Urban and Civic’s portfolio
Developer Urban and Civic’s net asset value swelled to £458.8m in its results for the six months to 31 March 2018. This was up 4.3 per cent from £439.3m as of 30 September 2017, and up 17.7 per cent since September 2015. In an interview with Construction News to be published on Monday, Nigel Hugill said development plans were being ramped up “partly due to government policy reinforcing big sites”.
34 – months since Chelsea unveiled stadium plans
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In a statement, the club blamed the decision on an “unfavourable investment climate”, adding: “No further preconstruction design and planning work will occur. The club does not have a timeframe set for reconsideration of its decision.”
60 – Trade bodies support retentions bill
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The two major trade organisations have publicly rejected the proposed law that would make retentions illegal unless held in an independent protection scheme, angering those that support the plans. Build UK and CECA claimed there was no industry consensus to support the idea.
£20.9bn – HS2’s phase two budget
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Phase 2b comprising lines from Birmingham to Leeds and Manchester is expected to cost £20.9bn, including contingency. Currently the second phase is expected to be covered by the government’s funding envelope, but Mr Thurston has not ruled out private money playing a part at some stage.