Firm also says turnover at fit-out arm will jump a third after taking on series of jobs following stricken contractor’s implosion
Mace has picked up the job to complete a neuroscience building for UCL in London that has been left stranded by ISG’s collapse.
ISG won the first phase of the work in spring 2019 with the value of the deal then estimated at £110m.
The scheme, on Gray’s Inn Road at the site of the Eastman Dental Hospital, had an estimated completion date of 2023.
In a statement, UCL said Mace was appointed to replace ISG “after a robust procurement and selection process. The project attracted a lot of interest from major contractors as a prestigious high-profile programme and all the bids were very strong.”
Mace has worked for UCL before, notably the award-winning Marshgate building at its UCL East campus.
Work on the neuroscience scheme has been stopped since ISG imploded nearly two months ago and UCL added: “Over the next three months, Mace will carry out a detailed review of the site before the terms of its appointment are finalised, as well as a revised schedule, with a planned completion date.
“UCL and Mace will continue to explore a potential role for incumbent suppliers formerly appointed by ISG during the review and delivery phases.”
The job is the first construction scheme Mace has picked up after ISG’s collapse with its previous deals confined to fit-out work.
Mace has taken on five fit-out jobs from ISG, including the 21 Moorfields and Bloomberg South schemes, worth a combined value of £200m which the firm’s boss of its fit-out and retrofit division, Stewart Ward, said would take its turnover in the sector next year to beyond £500m.
It had been budgeting for an income of £370m next year while staff numbers have also jumped, from 300 to 420 people.
Ward added: “That Mace has been in a position to take on these exceptional schemes is testament to the size and scale of our business and the robust infrastructure we have in place.
“Delivering major fit out projects is part of our a business growth plan, which has enabled us to mobilise quickly, scale up and bring on new people as well as support functions.”
The Grays Inn Road facility will be home to the UCL Queen Square Institute of Neurology, the UK Dementia Research Institute at UCL Centre and HQ and an outpatient unit for the UCLH National Hospital for Neurology and Neurosurgery.
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