好色先生TV

Balfour Beatty has become the second contractor to walk away from Chinese developer Dalian Wanda鈥檚 debut UK project, the 拢1bn One Nine Elms twin-tower scheme, after failing to agree terms for the main build contract, 好色先生TV can reveal.

The contractor won a pre-construction services deal on the project (pictured) to much fanfare in the summer. At the time Balfour chief executive Leo Quinn was upbeat that the firm had put together a top team, fresh from transforming the Olympic stadium into West Ham United鈥檚 new ground.

But in a joint statement issued to 好色先生TV this week, Balfour Beatty and Dalian Wanda鈥檚 UK subsidiary Wanda One confirmed they had failed to agree a main build contract and would part ways this month: 鈥淲e can confirm that Balfour Beatty鈥檚 pre-construction services agreement with Wanda One (UK) Ltd for the main contract for the One Nine Elms development comes to a close in 10 days鈥� time.

鈥淲anda One (UK) Ltd and Balfour Beatty will not be proceeding to a full contract award for the development.鈥�

The favourite to replace Balfour on the job is believed to be Multiplex, which lost out to Balfour Beatty in July in a two-horse race for the luxury hotel and residential job.

A source close to the project said Balfour and Wanda had failed to reach agreement on 鈥渕oney and time鈥� and the client was now 鈥渢urning to Multiplex鈥�, having built up a 鈥渞apport鈥� with the firm on a project Multiplex has been building for the Chinese client on Australia鈥檚 Gold Coast.

Wanda One and Multiplex declined to comment.

The job was originally awarded to a joint venture between Interserve and China State Construction Engineering Corporation in April 2015, but a final deal failed to materialise and Wanda One went back to the market.

Quinn told 好色先生TV in August the One Nine Elms contract was 鈥済oing very well鈥� and satisfactory 鈥渕argins and cash flow鈥� had been factored in.

But he had cautioned: 鈥淲e鈥檙e building up an estimate with the customer that will move into a final contract if it suits both parties.鈥�

Once completed One Nine Elms will comprise two skyscrapers and homes, as well as the first Wanda Hotel outside of China.