Watling Gardens costs rise by £3 million to £42 million

 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.