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HBG takes City refurb job

CONTRACTS - LONDON

HBG HAS pipped Bovis Lend Lease to claim a £30 million refurbishment scheme in the City of London.

The pair had been battling for the deal since rival bidders Wates and Sir Robert McAlpine failed to make the cut several months ago.

One source said: 'There were at least three occasions when Bovis looked like the favourite for the job, but in the end the client went for HBG.'

The job at 20 Gracechurch Street will see the former headquarters of Barclays Bank refurbished for client Morley Fund Management.

Work will involve revamping all 16 floors of the tower.

The building will also provide several ground-floor retail areas, with letting agent Strutt & Parker expecting the space to be snapped up by fashion chains.

Work will start in July with completion planned for winter 2007.