Lendlease says cladding repair bill will be north of £100m as firm puts figure on cost for first time

By Dave Rogers2023-02-13T12:46:00

Source: Shutterstock

Amount relates to Crosby Homes business firm bought 18 years ago

Lendlease has made a AUS$200m provision to cover the cost of cladding repair work as ordered by the government on residential schemes 11m and above.

The figure, which at today’s exchange rate is the equivalent of £115m, was revealed in its latest interim accounts which the Australian firm published overnight. It is the first time the firm has put a number on what it expects to have to pay to carry out remediation work.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community