Purpose

Approval of costs

Decision

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.