Firm also battling to land Bloomberg deal
ISG has won the blue riband contract to carry out the fit-out deal on Google’s new headquarters building at King’s Cross, Building understands.
The firm was up against Overbury for the job with bids going back in the spring. It is understood a decision on the winner was made a few weeks ago.
Both ISG, which declined to comment, and Overbury priced the job under a PCSA, or pre-construction services agreement, in order to make sure the pair put together their best bids possible.
The deal is believed to be a lump sum contract and is worth north of £150m, meaning it will be one of the biggest fit-out jobs to be let recently.
The work is for the fit out of the majority of the main building, being built by Lendlease, but is understood to also include the string of retail planned at ground floor level with the building running up the entire length of York Way.
A start on site is expected next year with work due to be finished in late 2025.
Firms working on the fit-out deal include project manager Turner & Townsend, M&E consultant Hoare Lea and architect Perkins + Will.
Ahead of bidding, the client team is understood to have run the job past Mace’s interiors business but the firm, which has been growing its fit-out business and came close to landing a £75m deal to carry out work on Apple’s store at Battersea Power Station, decided not to bid.
Mace has also decided against bidding the job to fit out one of the Bloomberg buildings in the City of London six years after the scheme was completed.
The £1bn Foster & Partners-designed project, built by Sir Robert McAlpine, opened in 2017 but the Bloomberg South building was never fitted out.
Building understands that ISG has negotiated work for the first floor with the remaining four going out to tender where it will again be up against Overbury. Tenders go out at the end of the year with the job thought to be worth around £90m.
Firms working on the scheme include project manager Buro Four, cost consultant Exigere and M&E consultant Sweco. Architect is Fosters.
Bloomberg’s headquarters are effectively split between the North and South building, which share a common basement and are connected via link bridges on the upper levels.
The size of the Google and Bloomberg deals underline the strength of the fit-out market despite the impact of the pandemic on the wider commercial office market. Last month, Overbury’s owner Morgan Sindall said an ongoing fit-out boom will see the group turn in a record performance this year.
Its fit-out business, which also includes Morgan Lovell, saw revenue up 9% to £498m and operating profit hike 34% to £30.4m in the first six months of this year.
Morgan Sindall added that such is the demand that its expectations for its fit-out business have been upgraded to post annual operating profits in the range of between £50m and £70m in the medium term, a rise of up to 40% from the previous spread of £45m to £50m.
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