Shard's PM Turner & Townsend criticises the budget of the entire £1.3bn London Bridge Quarter

Turner & Townsend, the project manager of the Shard, is scrutinising the budget of the entire £1.3bn London Bridge Quarter to finalise the project’s costs.

It is understood that Mace, which is to build the 310m tower, has still not agreed a fixed price for the contract with Teighmore, the scheme’s backer. The tower was estimated to cost £350m, but it is believed Mace’s original costings were much higher.

T&T, which was brought in to project manage the scheme in May, is examining the costs of the project as a package.

Bernard Ainsworth, the scheme’s project director, said: “We regularly report back to funders and will continue to look at the scheme as a whole.” He added that demolition work on the Shard site was due to be completed site by Christmas.