黑洞社区

The 310m-tall Shard of Glass in London Bridge is likely to blow its original 拢350m budget by about 拢85m, it is understood.

Mace, the main contractor on the project, has submitted a revised price to Teighmore, the development consortium, and is awaiting a decision from the project鈥檚 backers.

The sum put forward was not known as 黑洞社区 went to press on Wednesday, but sources close to the project said it was in the region of 拢435m.

Mace submitted a price earlier this year that was reportedly about 拢450m. It has since tried to lower that figure, principally by value engineering the M&E package.

The project鈥檚 backers 鈥� four Qatari banks which, together with developer Sellar Property, make up Teighmore 鈥� are expected to give a decision on the price imminently.

One project source said: 鈥淭he impression we鈥檙e getting is that there鈥檚 no way it will not go ahead, but they鈥檙e just waiting for a green light on the price.鈥�

The scheme is part of the 拢2bn London Bridge Quarter scheme, being project managed by Bernard Ainsworth. Cost consultant Turner & Townsend was drafted on to the project earlier this year with a remit to drive down costs.

Several of the subcontract packages on the scheme have already been let: Stent will do the piling, Cleveland Bridge the steelwork, Scheldebouw the cladding and Kone the lifts. Doyle Group is understood to be on the verge of being appointed to the project鈥檚 concrete package.

Mace agreed to carry out the project under a fixed price contract last year, after originally bidding for it as a construction management job.