Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Intu Watford construction costs rise to £180m

Construction costs on the Intu Watford redevelopment have increased by 80 per cent since 2014.

The construction value of the project now stands at £180m, up from £100m in September 2014.

Last July Intu said the cost to redevelop its Watford scheme had risen to £148m due to cost inflation driven by increasing construction demand in London.

The developer also said it had changed the scope of works for Intu Watford to include existing mall refurbishments and improved ancillary services, such as upgraded car parks.

Construction cost inflation is affecting projects across the UK – particularly in London.

Figures from Arcadis show average annual inflation in London peaked at 9 per cent in Q4 2014 and averaged around 7-8 per cent during 2015.

Arcadis has estimated the rate of inflation will fall to between 4 and 5 per cent in London during 2016.

Intu has yet to confirm the contractor appointed to carry out the main works package for its Watford scheme.

Bam Construction was carrying out preconstruction work but was replaced by Laing O’Rourke after it failed to agree terms with the client.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.