Caddick replaces Carillion on £154m Angel Gardens
Moda Living has drafted in sister company Caddick to complete its 35-storey Angel Gardens project in Manchester, taking on 20 former Carillion staff in the process.
Carillion had been working on the project as main contractor when it was liquidated on 15 January, and Caddick has now been appointed as construction manager to complete the 466-home private rented scheme.
Moda and joint funder Apache Capital said they had put contingency plans in place last summer, when Carillion issued a major profit warning, and said there would be “no material impact on the project’s cost or timeframe of delivery”.
The project is due to complete in two phases between 2019 and 2020.
Moda also said Caddick would take on 20 Carillion staff on the project, and by taking on the work it would save around 500 jobs on site. There are currently around 30 subcontractors working on the scheme.
Richard Jackson, managing director and co-founder of Apache Capital, said: “It was critical to Apache Capital that, as soon as we became aware of financial difficulties of Carillion in summer 2017, we implemented our contingency plans to ensure that we protected the interests of our investors and banking partner PBB.
“As a result, no loss of money or time will be suffered, job security is ensured to former Carillion staff, financial security on this project is secured for our sub-contractors and onsite works have recommenced within two weeks to minimise delays and we will continue to deliver the project within budget.
“Given the adverse circumstances this is a phenomenal effort by the wider team and underpins the quality of our partnership with Moda and Caddick Construction.”
Andrew Parker, director of projects at Moda, said: “We have had contingency plans in place for some time and wanted to prioritise saving jobs, as we hugely appreciate the critical role played by the main sub-contractors and small businesses that support major projects.
“We have always remained close to the key sub-contractors and suppliers throughout the process and this has proved to be an essential part of the solution to keeping Angel Gardens on track.”
The architects on Angel Gardens are HAUS Collective and Fuse Studios, with landscape architecture by Planit-IE. Planning advice is from Deloitte Real Estate.
