Member Article

Bam turns back on £100m Watford retail scheme following price disagreement

After failing to agree a contract value for the main contractor role, Bam Construction has turned its back on a £100m town centre retail scheme in Watford.

The building company was appointed to a pre-construction role on the extension and renovation of Watford’s Charter Place shopping centre in 2014.

According to an exclusive report by building.co.uk, the firm has confirmed the termination of its contract with Intu, the retail property management company behind the scheme, after failing to agree a contract value for the second stage main construction works.

A spokesperson for the contractor said: “Bam confirms that, unfortunately, we were not able to reach agreement on a contract value with Intu. Our negotiations concluded amicably and we hope very much to have an opportunity to work with Intu in the future.”

A Intu spokesperson added: “We are in the process of reviewing our project plans, including options for the appointment of a contractor to undertake the works.

“We fully expect the project to keep to the existing timescales, and look forward to creating a vibrant retail and leisure destination for our millions of customers.”

The new two-level shopping centre will be home to a nine-screen, 1,500-seat Cineworld cinema, with Imax screen, as well as a new public square.

This was posted in Bdaily's Members' News section by Ellen Forster .