The value of new construction contracts signed in the UK during lockdown appears to be booming.
According to the Builders’ Conference, which monitors new contract awards, £9.7bn of new contracts were signed during April 2020, despite much of the industry being on furlough and most of the rest working from home.
The total value of new construction contracts signed in the UK during April 2020 was up 20% on the previous month, when lock down began, and up by more than 50% compared with April 2019 (which was £6.2bn).
The April 2020 total was boosted by a pair of mega-contracts, both involving BAM Nuttall. Firstly, it signed a £2.2bn contract with Network Rail as part of the Transpire Alliance with Amey and Arup for a slice of the Transpennine Route Upgrade between Stalybridge and Leeds. Secondly, the BAM Nuttall Morgan Sindall Joint Venture (BMJV) signed a £1.5bn contract with Highways England. BMJV is one of three contracting groups selected to share a 10-year smart motorways framework that is expected to deliver £4.5bn-worth of highways work, installing variable message board gantries and removing motorway hard shoulders to install all-lane running.