The Wokingham Borough Council appoints a third contractor as previous ones collapsed.
- Local firm Feltham Construction is tasked to complete the Carnival Place development.
- Mid Group, the initial contractor, ceased trading in 2022 after beginning the project.
- Osborne was named as a successor but soon went into administration with significant debts.
- The development aims to offer eco-friendly residential options, yet faces ongoing challenges.
The Wokingham Borough Council has once again had to select a contractor to finish its Carnival Place residential project. With the appointment of Feltham Construction, they introduce the third firm charged with completing the development after two previous contractors faced financial failure.
Initially, Mid Group undertook the project but found itself unable to sustain operations, ceasing to trade in July 2022, mere months after the project commenced. This collapse forced the council to rigorously search for a new contractor. Subsequently, they appointed Geoffrey Osborne Ltd., but this company also entered administration shortly after its appointment, leaving a substantial debt of £25.9 million to its trade creditors.
The Carnival Place project is an integral part of Wokingham’s broader regeneration scheme. Designed to provide 55 one- and two-bedroom apartments, the development boasts features such as parking, cycle storage, and electric vehicle charging points. Moreover, it aligns with sustainable building practices by aiming to be operationally carbon-neutral, incorporating high-quality insulation and solar panels.
Sarah Morgan, assistant director of commercial property at the council, expressed the inherent risks associated with such building contracts, despite thorough due diligence. This statement underscores the unpredictability and financial instability that can affect large-scale construction projects, highlighting the need for careful contractor selection.
David Yates, director at Feltham Construction, voiced the company’s enthusiasm for completing the project, particularly as it enhances residential offerings in Wokingham. Yates, himself a long-standing resident, emphasised the importance of seeing through a venture that addresses community needs and aligns with environmental goals.
The appointment of Feltham Construction marks a hopeful yet cautious step forward in completing the troubled Carnival Place development.
