Procurement on 18 Blackfriars scheme has been dogged by worries over risk
Plans to get construction going on one of the biggest jobs set to be let in London in the next few years may finally be getting off the ground, Building understands.
The job at 18 Blackfriars, designed by Foster & Partners, is being run by US developer Hines and will see the construction of a 45-storey office block plus two residential buildings of 40 and 22 storeys all rising from a four-storey podium.
Tenders for the basement works package are due out next week with would-be bidders including Keltbray, Expanded and McGee.
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Lipton Rogers, the firm behind 22 Bishopsgate, is development manager on the project, which includes 100,000 sq m of office space and 433 homes, with others on the team so far including engineer Arup and QS T&T Alinea. G&T is the QS for the residential part.
The main contract at 18 Blackfriars will be let as a two-stage design and build job but this has been stalled because of worries over how the scheme should be procured. Concerns have centred on the level of financial risk firms would have to take on. “The market don’t like it,” one source said. “There needs to be a compromise.”
Main construction is slated to start towards the end of next year with the entire scheme taking four years to build.
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