In a decision announced yesterday the rise in the costs of the Watling Gardens contract by £2,964,971 to £41,980,605 has been approved.
EXTRACT
That the Cabinet Member for Housing, Homelessness and Renters Security, in consultation with the Leader and Deputy Leader & Cabinet Member for Finance, Resources & Reform:
i) Approves the costs increase ahead of imminent execution of the design and build contract for Watling Gardens with Hill Partnerships Ltd, originally in the sum of fixed price of £38,535,643. Plus the additional sums of £480,000 to reflect the tenure changes required for the viability assessment undertaken and agreed by Cabinet in June 2022.
ii) Notes and approves that the cost increase sought is £2,964,971, which will render the total cost of construction to £41,980,605.
iii) Approves the increase of costs to be confirmed and conveyed to Hill Partnership Ltd in a side letter, which will state that the uplifted costs will be dealt with under the costs fluctuation within the JCT contract.
3 comments:
£2,964,971 extra equals to around 5 good sized family homes which could be bought and refurbished for use for Brent families in need of a decent home.
Won't be long before Brent runs out of money at this rate.
Butt's Brent Council are heading for a Financial Black Hole with increasing velocity.
Wasn’t fixed price then. Mismanagement.
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