16th March 2023, 18:20
Construction projects run over budget but prices offered to buyers will be honoured
Published by GBC News
The total cost of Hassan Centenary Terraces is expected to be in the region of £168.5 million.
In answer to GBC questions, the Government said this is over £30 million more than the original tendered construction cost.
The Government has also said construction costs for Chatham Views and Bob Peliza Mews have also increased significantly.
However, it will honour the original prices for existing purchasers.
In response to GBC questions the Government said the increase in the cost of building Hassans Centenary Terraces is because of inflation. It says this is down to the delay in starting the second phase of the project due to the pandemic.
Owners of flats in the three Phase 1 blocks are expected to get their keys this July, with those with future homes in Phase 2 having to wait until May 2025 for theirs.
Those signed up for flats in Bob Peliza Mews can expect their keys in two to three years from when the Government awards the building contract, depending on whether they are in phase one or two. Construction will start in May.
Fabian Picardo gave this update to purchasers via letter, which explained delays.
He said future Chatham Views residents are looking at a 2.5 year wait from the construction contract being awarded.
The Chief Minister said no stone had been left unturned in trying to deliver the homes earlier.
And the Government has also said there will be a temporary shortfall of 144 resident car parking spaces at HassansCentenary Terrace. It told GBC this shortfall will be addressed once the second phase is handed over.
In the meantime, it says it is exploring various options to provide purchasers with parking during this period.