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29th August 2013
Berkeley forms £400m Wellcome Trust joint venture
Source: Construction News
Berkeley Group and the Wellcome Trust charity have launched a joint venture initially worth up to £400m aimed at regeneration in the South-east. Berkeley is to source the land and design, build and market each scheme, backed by capital injections from the Wellcome Trust. The charity owns over £1bn in residential property, mostly in London, and has access to a funding pool of £16bn. The Trust will also provide a potential long-term outlet for residential products on each site.
Balfour could move Cardiff civils staff to Exeter
Balfour Beatty is considering moving its Cardiff civil engineering operations to Exeter. The firm is consulting its six staff in Cardiff on the proposal. The proposal is part of a plan to have regional offices specializing in different construction disciplines. A spokeswoman for the firm said there was no timetable for the change, should it go ahead. In June the group announced plans to close offices in Dartford, Rochdale and Doncaster following an internal review of the viability of 21 delivery units in the regional business.
Thomas Vale announces new chairman and MD
Bouygues UK has announced two internal promotions at its subsidiary Thomas Vale giving the contractor a new chairman and managing director. Tony Hyde, who has been managing director of Thomas Vale since 2002, has been promoted to the role of chairman. Meanwhile, Gary Mail, construction director at Thomas Vale, will succeed Mr Hyde as managing director of the company. Earlier this year, Thomas Vale formed a new construction division, merged its housing divisions and made a number of changes to leadership positions following its review of how the business could become more competitive. French construction giant Bouygues bought Midlands-based construction firm Thomas Vale in April 2012. Mr Hyde will continue in his existing role as Bouygues UK’s director for corporate responsibility, and Mr Mail will also join the Bouygues UK leadership team.
Vinci bags £32m Battersea retirement village
Source: Construction Enquirer
Retirement village developer LifeCare Residences has signed a deal with Vinci Construction UK to build a scheme overlooking Battersea Park in London. Battersea Place on Albert Bridge Road will include 109 accommodation flats for people aged 65 and over, associated communal facilities and a 30 bed nursing home. The development will mix high quality accommodation with 24 hour healthcare, support services, and recreation amenities designed to support independent and active retirees. Dave Smith, Vinci Construction UK’s regional managing director, said work on the 106 week project will begin in September, with completion scheduled for two years time.
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