Industry update: more change in construction, more new work (almost)

Restructuring at Tarmac and expressions of a new direction at John Laing have been followed by the news that Australia's Lend Lease Corporation has acquired Bovis. The £283M deal builds on an established working relationship.

Lend Lease, which manages a property investment portfolio worth £23bn, plans to merge its project management and construction divisions into Bovis. The enlarged group will be headquartered in London and will target global expansion.

Building & Property Group, working as a part of the Summit Healthcare Consortium, has been shortlisted for a £68M PFI contract for the Dudley Group of Hospitals NHS Trust. The 30-year contract involves both refurbishment and new construction to achieve a 760-bed facility, as well as two new day-care centres on separate sites.

Final and best offers from the two remaining contenders are due in January, with a decision expected the following month.

The B&P consortium has also made the shortlist for a £25M PFI contract in Reading.

Elliott Chase