Kier’s Australian disposal, HS2 phase two savings, Crossrail delay losses: all the critical figures underpinning the week’s top stories.
£15m – Kier’s Aussie sale profit
The group announced that Australian infrastructure specialist Downer Group had bought the road asset management and maintenance business. The profit this will go towards reducing its net debt, which can be achieved by increasing cash reserves or repaying borrowings.
153% – HS2 cost vs euro lines
The report found that, based on the early estimates, plans for phase two would cost £81m per kilometre – two-and-a-half times more than the average of £32m for the 20 European comparison schemes. The study, which was commissioned in 2014, completed in 2016 but only published this week, found that HS2 could save up to £7bn from its costs.
6m sq ft – City office construction
The City of London accounts for more than half of all the office space currently under construction in the capital, according to Deloitte’s latest crane survey. The bi-annual survey of activity found that the office floorspace under construction equalled 11.8m sq ft for the six months to September, a 13 per cent drop since the previous survey.
£23m – TfL’s monthly Crossrail loss
Lost revenue from passenger fares and advertising on the Elizabeth line will be between £200m and £210m, after the project was delayed by nine months. The line had been scheduled to open in December 2018 but this was pushed back to autumn 2019.
29 years – Wates’ new resi MD
Mr Shroll, currently MD for Wates Residential North, has been with the business since 1989 having joined as a 16-year-old apprentice carpenter. Mr Tant has been promoted to managing director for Wates Construction – one of four promotions in a management reshuffle.