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Mace signs £350m Paddington Cube deal to top contracts league

4 Feb 19 Three contracts worth a combined total of £505m propelled Mace to the top of the Builders’ Conference BCLive contract league table for January 2019.

Paddington Cube
Paddington Cube

Sir Robert McAlpine was in second place, with six new contracts won during the month, collectively worth £453m. 

Kier came third with a 21 contract haul valued at a total of £397.1m.  

The largest of Mace’s new contracts formally signed in January is a £350m contract for the Paddington Cube in London, from the people that gave us the Shard – co-developer Sellar Property Group and architect Renzo Piano. The Paddington development, eventually scaled back from original 72-storey skyscraping plans, will comprise a 17-storey office block on the site of the former Royal Mail sorting office next to Paddington station.

Mace also oversaw the construction of the Shard for Sellar, which is what put it in prime position for the Cube, rather than the new Spurs stadium that it has struggled to finish.

Sir Robert McAlpine’s biggest win of the month is a £350m contract to redevelop 1 and 2 Broadgate in the City of London, although work on site is unlikely to start for another year at least.

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Kier’s biggest January contract is also a commercial building scheme in the capital – a £70m, 12-storey building at Lewis Cubitt Square for Kings Cross Central Partnership.

A further nine contractors signed more than £100m of new business during the month.

The Builders’ Conference recorded 647 new contract awards during January 2019, shared among 404 different companies, with a total value of £5,817.5m.

Builders’ Conference chief executive Neil Edwards said: “After 11 consecutive months in which the value of new construction contract awards did not dip below the £4.0bn mark, the £2.92bn posted in December 2018 was a bitter disappointment filled with ominous portent.  But the industry first returned to and then surpassed the £4.0bn norm to hit £5.8bn in new contract awards, pushing the rolling year total on the BCLive league table to a record-breaking £63.3bn and – temporarily, at least – allaying fears that December was the beginning of a pre-Brexit wind down.”

BCLive Top 20 for January 2019

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