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Business is booming in the capital judging by the number of tower cranes

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MrBrightside Posted: 5 Apr 2009 20:45

I was driving across London (from SE through the middle to the W) and I lost count of the number of tower cranes I saw dominating the London skyline.

I've got a mate who reckons you can tell how well the construction industry is going by the number of cranes you can see from the top of Primrose Hill. He counts them every time he takes a walk round there and said the number of cranes on the skyline hasn't really gone down. If anything it's increasing!

Not sure if he's counting (or can even see) the ones on the Olympic Park though.

Incindentally, as part of my travels I passed a site in Stockwell which looks to be a Mann Construction project. Does anyone know what's going to happen with it?

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Molevalleyman replied on 23 Apr 2009 11:18
I heard or read somewhere that Mann Construction has entered voluntary administration due to the effects of the credit crunch on the business. The Enfield-based civils and groundworking business has several creditors, some of which are believed to be owed hundreds of thousands of pounds.

Mann Construction has recently been working on developments such as the £8.5m Quadrant project in Stockwell, London, is that the project you are referring to?

Also the £5m University of Hertfordshire development and has appointed an administrator, who has not yet been named.

The business recorded a turnover of £67m in 2007 - The contractor specialises in partnering, social housing and healthcare and operates mainly in the South and South East.

There are, as your colleague suggests, a lot of cranes in evidence throughout the capital. The question however is.. what's going on below them?

 

Regards

 

MVM
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EEPaul replied on 23 Apr 2009 12:00

Molevalleyman:
There are, as your colleague suggests, a lot of cranes in evidence throughout the capital. The question however is.. what's going on below them? 
 

We should also think about the timespans involved. Many of the project currently on-site in the capital were well under-way before the current recession really began to hit hard. Every week I am hearing of projects being cancelled or mothballed, so it is likely that many of these cranes will not have new sites in London to move to once their current project is finished. The skyline may be very different in 6-12 months time, I think.

Paul (construction IT, PR, marketing and Web 2.0 specialist)
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Molevalleyman replied on 23 Apr 2009 12:24

 The £300M Stratford Tower job comes to mind?

I am advised that Genesis HA pulled the plug on that project due to being unhappy with aspects of the design and cost of the £300m Tower scheme, which sits on a 3.2 acre site at 150 High Street, Stratford.

Regards

MVM

 
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MrBrightside replied on 5 May 2009 15:36

EEPaul:
The skyline may be very different in 6-12 months time, I think.
 

A bleak picture you paint EEPaul, but probably a rather accurate one.

Molevalleyman:
I am advised that Genesis HA pulled the plug on that project due to being unhappy with aspects of the design and cost of the £300m Tower scheme

Surely it's more costly to pull the plug before a project is complete?! How are they ever going to recoup the cash invested so far?

 
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