Developer Far East Consortium has set up a subsidiary, DEX Construction, to deliver the Manchester housing scheme following the collapse of Bardsley Construction.
DEX Construction will operate as an independent contractor under its parent company FEC, with Simon Adams appointed managing director. Adams has project managed developments worth a combined £275m for John Sisk & Son, Barratt London and Carillion. It is not yet known whether the new subsidiary will work across other FEC projects once Mount Yard completes.
Mount Yard is a 12-storey apartment block within FEC’s £200m MeadowSide residential scheme in Manchester. Mount Yard was being developed by Tameside-based Bardsley, with completion originally due this summer. However, Bardsley collapsed into administration in December citing challenging market conditions, with 200 staff made redundant.
DEX Construction is taking on five managers from Bardsley and all the sub-contractors working on the scheme have been retained. It re-started work on site in the new year and expects the project to be delivered on time for summer completion.
Mount Yard is the latest phase at MeadowSide and comprises 136 apartments and townhouses. The scheme is 40% sold, the vast majority to local owner-occupiers.
The site is adjacent to the Northern Gateway, a project between FEC and Manchester City Council to deliver 15,000 homes north of the city centre over 20 years.
Also under construction at MeadowSide are the 22-storey The Gate and 17-storey The Stile, which will bring 286 one-, two-, and three-bedroom apartments and penthouses to the market when completed in 2021. These schemes are being brought forward by a joint venture between Westfields Construction and China Zheijang Construction Group.
Gavin Taylor, FEC’s regional general manager, said: “FEC has acted quickly and decisively to ensure the completion of Mount Yard to the highest possible standards and we aim to ensure that any delay in the build schedule will be minimal.
“Additionally, the situation has accelerated our plan to be able to self-deliver our developments. As we grow DEX, we will be free to explore opportunities with other developers and investors nationally. We can give Mount Yard purchasers the reassurance that the build is back on track.”
MeadowSide is being marketed by JLL.
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