McLaren walks away from £130m London job after contractual discussions broke down
McLaren Construction has recently walked away from a £130m mixed-use scheme in North London after detailed contractual discussions broke down as the two parties were unable to agree all contract matters.
McLaren was named as the preferred bidder by joint venture clients United House and the landowners; the Business Design Centre, however the clients have now gone back out to the market to e-tender the scheme after the parties mutually agreed to part on the project.
The scheme consists of 308 one to four bedroom private apartments in two 21 storey buildings, 47 affordable homes and 10,776 sqm of retail, office, restaurant and leisure space.
Ensuring a fair balance of risk and reasonable contract terms is an important factor in ensuring the success of a project and using a contractual management consultant like the Kenzie Group can help ensure that this is the case from the start of your project.