McLaren signs first Verry deal

McLaren Construction is expecting to sign a letter of intent today to take over one of the largest jobs left in limbo by the collapse of William Verry.

ContractJournal.com understands that the deal will be signed within hours for the £70m City of Westminster college in central London.

McLaren has already taken over eight former Verry contracts and is in discussions with clients to win seven other outstanding jobs.

The move will mean McLaren is set to get the vast majority of Verry’s contracts with only two jobs likely to go to rival firms.

The client at the £11m Futures Community College in Southend-on-Sea, Essex has decided to re-tender the job while the £80m Oaklands College in St Albans is not being targeted by McLaren.

A source close to the negotiations said: "The Westminster deal is imminent and talks on the other seven could continue for a week or so.

"All the remaining clients are very happy for McLaren to take over, it’s just a question of finalising a few legal issues which all take time."