Durkan to exit contracting
Summary
Durkan has announced it will withdraw from contracting after more than 50 years, citing rising legislative and regulatory burdens, higher risk and weaker returns. The decision comes alongside a widened pre-tax loss, lower contracting revenue, and significant fire-safety remediation costs linked to legacy projects.
Why it matters
For residential property surveyors, the article highlights how regulatory pressure, fire-safety liabilities and planning constraints are affecting contractor viability and delivery capacity. It also underscores the continuing financial and technical implications of legacy fire-stopping issues in residential schemes.
Key points
- Durkan will exit the contracting sector and focus on housebuilding and regeneration.
- The group reported a £10.9m pre-tax loss, wider than the previous year.
- Fire-safety remediation costs totalled £19.3m, reflecting legacy project obligations.
- Housebuilding revenue fell sharply, with Durkan citing planning challenges and capital constraints among registered providers.
- The company’s remaining live contract is Kidbrooke Park phase two, due to complete in 2026.
Organisations:
Durkan, Durkan Holdings, Royal Borough of Greenwich, Grenfell Tower
Locations:
Kidbrooke Park, Greenwich
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