Laing O鈥橰ourke replaces Bam on Intu鈥檚 Watford shopping centre revamp
Laing O鈥橰ourke has replaced Bam as the first stage contractor on developer Intu鈥檚 planned 拢148m revamp and extension of its Watford shopping centre.
黑洞社区 understands Laing O鈥橰ourke has signed a pre-construction agreement for the scheme, while Keltbray has entered into an agreement with Intu for demolition works to make way for the extension. Intu declined to comment.
The news comes after Bam parted ways with the scheme in July, after saying it had completed the pre-construction stage, as part of a two-stage tender for the main job.
Intu subsequently revealed later that month in its half-year results that the cost of the scheme had jumped 48% to 拢148m, up from its original estimate of 拢100m. 黑洞社区 has no knowledge to indicate whether or not the cost is still 拢148m.
In July Intu ascribed the jump in project costs to 鈥渃ost inflation鈥� caused by booming demand in the nearby London market and a 鈥渞e-defined鈥� scope for the works, which now includes 鈥渆xisting mall refurbishments and improved ancillary services, such as upgraded car parks鈥�.
Bam said at the time that 鈥渦ltimately we could not reach agreement with Intu on a sum that reflected an agreed view of the market and the management of risks鈥�.
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