Bank on Midland!

Six contractors are understood to have picked up contracts worth around œ15 to œ20 million as part of the Midland Bank's œ250 million-plus overhaul of all its 1,600 branches. Each contractor will undertake batches of about 40 jobs.

Laing is said to have two batches, while Hall and Tawse, Shepherd, RG Carter, RH Pearce and Mansell all have one.

The Midland programme has been divided into two. Around 1,300 banks will only undergo minor improvements worth œ10,000 to œ100,000.

The remaining 300 branches will be subject to major improvements worth an average of around œ300,000, but up to œ1 million in some cases. Contractors are believed to have submitted bids based on prelims and a schedule of rates. An overall contract details the number of jobs each contractor will undertake, but the agreement is subject to the contractor's performance and can be revoked. Individual pricing is possible on the separate banks which do not conform to the schedule of rates.

The overhaul of Midland was ordered by parent Hongkong Shanghai Bank. An ambitious 12-month completion target has been set by the HKS.

Bucknall Austin and EC Harris are running the programme on the Midland's behalf.