Caddick swoops on ex-Carillion scheme

A computer-generated image of the Angels Gardens project, which Caddick Construction has taken on.

Caddick Construction has been called in by sister company Moda and Apache Capital to complete work on the £154m Angel Gardens scheme in Manchester, directly hiring 20 ex-Carillion employees.

A spokesman said: “It is one of the country’s biggest residential schemes outside London and the move will save around 500 jobs on site, protecting around 30 sub-contractor companies previously working under Carillion before it entered liquidation on January 15.”

He added that Moda and Apache Capital had had contingency plans in place since last summer and the move would ensure there would be no material impact on the project.

Caddick will act as construction manager and coordinate existing subcontractors across the 35-storey, 466-home build-to-rent project.

The company has been building its presence in the North West, with the new staff helping to bolster the company’s growing team.

Carillion started work on Angel Gardens in January 2016 after Apache Capital and Moda agreed a record-breaking £85m BTR senior debt facility with Deutsche Pfandbriefbank.

Tony Brooks, managing director at Moda, said: “Both Deutsche Pfandbriefbank and our strategic funding partner Apache Capital are fully behind this strategy.

“We are very disappointed by the Carillion collapse but we have been able to get the job back on track.”