The figures that tell the real stories behind Manchester’s tallest tower, Canary Wharf Contractors’ bumper results and HS2’s civils deals.
197 – Floors across Trinity Islands
The development, whose 67-storey tower will be the city’s tallest, was recommended for planning approval this week. The developer on the project is Allied London, which is also overseeing the £60m regeneration of Manchester’s London Road Fire Station.
3,035% – Rise in CWC’s profit
Pre-tax profit at Canary Wharf Contractors hit £69.8m for the year to 31 December 2016, according to accounts released this week. The contractor also reported a turnover of £148.4m, compared with £124.9m a year earlier. That gave the firm a pre-tax margin of 47 per cent.
£2bn – Shortfall in HS2 civils’ value
Four consortiums were picked by HS2 this week to deliver the seven civils works packages which make up phase one of the £55.7bn line from London to Birmingham. The estimated total value of all seven contracts has been put at £6.6bn by the government, £2bn lower than original upper-value cost estimates.
5 – Directors poached from Mace
The five – Ian Blakeman, Andrew Fettes-Brown, Nick Eliot, Paul Goodwin and Tim Spencer – are commercial property and data centre specialists and will join RLB’s London offices with immediate effect.
1.8% – 2019 output growth
Construction output will grow by 1.8 per cent in 2019, according to forecasts from Experian. Growth is expected to slow to just 0.9 per cent in 2018, driven by a 1 per cent fall in private commercial output. But booming infrastructure activity, which is forecast to grow by 10 per cent in 2019, will fuel growth in the near term.
6 – Years early Carillion’s council deal is ending
The contract, which was originally awarded to John Laing Integrated Services and was taken on by Carillion when it acquired the firm, had been expected to run until 2023. However, the deal will now end on 1 August this year. Statements released individually by the council and the contractor state that the decision to end the contract was a mutual agreement between both parties.