£400m turnover London high-rise housing contractor sinks into administration

London high-rise builder Henry Construction Projects has gone into administration after weeks of speculation about the health of the contractor.

FRP Advisory was brought in yesterday and in a statement said: “Geoff Rowley and David Hudson of specialist business advisory firm FRP were appointed as joint administrators to Henry Construction Projects Limited.

“Following the appointment, the joint administrators are currently assessing the position with support from sector professional advisors.”

In its last set of accounts, Henry Construction Projects, which specialised in residential and mixed-use jobs, posted an improved turnover of £402m in the year to June 2021.

The figure was up 7% on the previous 12 months with pre-tax profit during the period up 8% to £14m.

In the accounts, which were signed off by director Mark Henry last April, the firm said: “We have some great stable client relationships leading to repeat business and we are confident of the future and look forward to the years to come.” It added that it mitigated risk “by focussing on winning framework agreements”.

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As well as high-rise, the firm also carried out civils, groundworks and reinforced concrete work.

Mark Henry was also a director of £140m turnover Lancsville Construction which was set up in 1976 by his father William but went into administration at the end of 2009.

The Harrow-based firm started out as a concrete frame specialist but, according to the administrator’s report, grew into a design and build contractor under Mark Henry’s stewardship. The firm collapsed owing £14.5m.