A dispute that started when bolts began to fall off the Cheesegrater tower in London in 2014 has finally been settled, nearly five years on.
Structural steelwork contractor Severfield announced today in a trading update that it has reached a final settlement with developer Leadenhall following “extensive negotiations”.
“We have now agreed a final settlement for the remedial bolt replacement works at Leadenhall, resulting in no further costs for the group,” it said.
Two bolts fell from the 222m-high Leadenhall Building in November 2014, followed by another in January 2015. The falling debris triggered an investigation by main contractor Laing O’Rourke and Arup, the structural engineer. A number of bolts were replaced in addition to the three that failed, with joint developer British Land blaming “hydrogen embrittlement”.
Severfield, which provided 18,000 tonnes of steel for the building, revealed in its annual results in 2015 that it was likely to end up with a £6m bill for remedial work to the bolts following the investigations.
Its financial results for the year ended 31 March 2019 are due to be announced on 19 June.