One of the industry’s biggest clients is talking to contractors about re-starting three major London schemes
Building understands Land Securities has given contractors notice that it is seeking prices for the £100m Park House project on Oxford Street, the £100m Selborne House and the £40m Wellington House, both in Victoria.
Construction management specialist Mace was commissioned to build Park House before it was put on hold. It took the job from Sir Robert McAlpine in 2008. However, sources say Land Securities is now asking contractors to bid on a fixed-price basis.
A source at one of the firms potentially bidding for the work said: “There’s definitely activity, which is encouraging, but nobody knows what’s driving this. Is it just for show or is it genuine bids Land Secs is asking for?”
Mace declined to comment on the story.
A spokesperson for Land Securities said: “A number of exciting development opportunities are in the pipeline, and we will only bring them forward when we see evidence of rising demand and rents, and we monitor the market closely to guide us in the timing of our decisions.”
No comments yet