Decision details

Approval of costs

That:

1.  The prior decision to remove Peckham Library Square Scheme from the Flaxyard & Peckham Library building works contract reducing the contract sum to £39,106,257 be retrospectively approved by the Strategic Director of Housing.

2.  The variations to the contract for the development of the Flaxyard site to the sum of £4,892,000 be retrospectively approved by the Strategic Director for Housing.

3.  That further anticipated variations to the sum of £2,734,000 that includes finalisation of agreed provisional sums and contract variations be approved by the Strategic Director of Housing.

4.  It be noted by the Strategic Director of Housing that on 12 March 2021 Bouygues (UK) Limited were awarded a contract to take forward the development of Flaxyard and Peckham Square for the total contract sum of £46,825,665. This included £39,106,257 for Flaxyard and £7,719,408 for works relating to Peckham Library Square. At this time the total anticipated contract sum was £48,045,818 including contingency.

5.  This will result in an adjusted contract sum of £46,732,257 including a contract variance of £7,626,000 from the original contract sum (for Flaxyard) approved at award of contract be noted by the Strategic Director of Housing.

6.  Approvals sought retrospectively under contract standing orders (CSO 6.7) as set out in the body of the report and have been reported to Audit, Governance and Standards Committee be noted by the Strategic Director of Housing.