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Contracts are due to be awarded imminently across a range of sectors according to Glenigan’s construction market research.

The 10 biggest contracts currently out to tender are valued at more than £6.8 billion.

The biggest is a £2.4 billion track and precast slab package on the High Speed 2 rail link (Project ID: 19314880). Construction is expected to begin in March 2024.

Civil programme

Four of the 10 biggest schemes out to tender are in the civil engineering sector.

Statera Energy is planning a £1 billion flexible generation plant in Essex (Project ID: 5483324). Deemed a Nationally Significant Infrastructure Project, the Thurrock Power scheme will have 600 MW of electrical capacity. An award is imminent with work due to start in March.

Carlton Power is in advanced talks with companies to finance, build, and operate the £750 million Trafford Battery Energy Storage System plant in Greater Manchester (Project ID: 23063748). Work should begin in April.

The other major civil scheme due to be awarded soon is a £305 million operational telecommunications & security systems package on HS2 (Project ID: 23310195). Bids are back and work could commence in February.

Industrial plans

The industrial sector is expected to provide a bright spot in 2024 and the second biggest job out to tender is a £1.4 billion high voltage cable factory at Hunterston on Strathclyde (Project ID: 21398883). Construction should start in April.

Plans for a £41.8 million unit at the Symmetry industrial park in Kettering are advanced with tenders invited and work due to begin in June (Project ID: 21460745).

Housing deals

Three major housing deals are in the pipeline. Work on Aviva’s £350 million Stone Yard build-to-rent scheme in Birmingham should start in June once a construction partner has been appointed (Project ID: 5393578).

Golding Homes is out to tender on its £63 million Cambridge Crescent development in Maidstone (Project ID: 22071350), while the London Borough of Waltham Forest has extended the tender return date on its £50.7 million Priory Court scheme (Project ID: 23118130).

School boost

Two bidders are still chasing a £400 million deal to build the 50 Fenchurch Street office scheme in the City of London for AXA (Project ID: 19410738). A start on site is expected by the end of the year, when the industry will be hoping even more work is coming through.

Position Value (£m) Project Description Sector Region Start Date Project ID
1 £2,455 Track Works Infrastructure West Midlands March 19314880
2 £1,400 Cable Factory Industrial Scotland April 21398883
3 £1,000 Flexible Generation Plant Utilities East of England March 5483324
4 £750 Battery Energy Storage System Utilities North West April 23063748
5 £400 Office and Retail Offices London December 19410738
6 £350 995 Flats and Retail/Leisure Space Private Housing West Midlands June 5393578
7 £305 Operational Telecommunications & Security Systems Utilities West Midlands February 23310195
8 £63 180 Flats and 56 Houses and Commercial Space Private Housing South East May 22071350
9 £51 83 Flats Social Housing London September 23118130
10 £42 Warehouse Unit Industrial East Midlands June 21460745
Source: Glenigan

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