No8 First Street on course for completion after Carillion collapse
The grade A No8 First Street office development in central Manchester remains on track for completion despite the demise of original contractor Carillion.
A specialist construction management Raynor Rowen with support subcontractors has been appointed by property company GVA on behalf of the Greater Manchester Property Venture Fund.
Work has now restarted back on site with Ask Real Estate managing the development on behalf of the fund and Patrizia.
Dan Williams, head of real estate development UK and Ireland for Patrizia said: “We had robust contingency plans in place to minimise the threat of any potential delays in construction and, following the news of Carillion’s insolvency, we have appointed Rayner Rowen to oversee the completion of No8.
“The team has a great deal of experience in managing medium to large scale construction developments and they have spent a lot of time on site over the last couple of weeks to immerse themselves in the build programme. We now have a critical path in place to complete the building as planned.”
Chris Cheap, senior regional director GVA which is the investment manager for GMPVF, added: “Rayner Rowen has considerable experience and has quickly picked up the remaining development requirement to take No8 forward to completion.
“They have been on site since January 25 and have retained a number of key individuals to ensure continuity and the retention of specialist knowledge during the remaining months of construction. They are now fully engaged on site and we expect completion to be achieved in late Spring with minimal delay to the programme.”
Gazprom signed as a pre-let occupier early in the construction process, and has already taken access to fit out circa 42,000 sq ft office which is split across two floors.