Moda and Apache Capital have engaged sister company Caddick Construction in one of the first major private contracts to be back on site within two weeks of the Carillion collapse.
Caddick Construction will deliver the £154m Angel Gardens scheme in Manchester, directly hiring 20 former Carillion employees. The joint venture partners said the move will save around 500 jobs on site, protecting around 30 sub-contractor companies previously working under Carillion before it entered liquidation on 15 January.
Moda and Apache Capital said they had contingency plans in place since last summer. In a statement, the partners said they did not expect there to be any “material impact on the project’s cost or timeframe of delivery”.
Caddick Construction will now act as construction manager and coordinate existing subcontractors across the 35-storey, 466-home build-to-rent project.
Carillion started work on Angel Gardens in January 2016 after Apache Capital and Moda agreed an £85m BTR senior debt facility with Deutsche Pfandbriefbank.
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.”
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