Curo Construction has taken over a £65m residential scheme in Kent that was left half-finished when main contractor Henry went under.
Henry started work on the Charter, a 242-apartment scheme in Gravesend, in March 2021. The £402m-turnover contractor went bust not long after in June 2023, abandoning around 60 ongoing projects.
Co-developer Rosherville announced yesterday (21 August) that Curo had picked the project back up after enabling works restarted in May. The project is now expected to complete in early 2026.
Rosherville, Gravesend Borough Council’s commercial trading company, is developing the scheme in a partnership with Reef Estates.
Rosherville chairman Jamie Izzard said: “With our original main contractor having ceased trading and the challenges being faced across the construction industry in general, getting to this point has not been straightforward, but we are now in a position where we have the right people in place to proceed with the build at pace.”
In the year it took to find a replacement contractor, a host of conspiracy theories had spread on social media about the half-built complex. In a statement in May, Izzard dispelled rumours of leaning structures, asbestos, incorrect concrete and foundations at risk from smuggler’s tunnels.
The statement read: “Construction stopped purely and simply because our original contractor ceased trading and it has taken time for us to find the right partners to take the project on.”
Henry expanded rapidly before its collapse, nearly quadrupling its turnover from £111m in 2017 to £402m in 2021. The contractor won a lot of work by bidding low prices on fixed-price contracts, according to administrators, before it was scuppered by a winding-up petition from an east London drylining subcontractor that was owed £283,000.
Peter Langly-Smith, development director at Reef Estates, said the company was pleased to appoint Curo following a “challenging period” after Henry’s demise.
London-based Curo Construction was established in 2013 by Darren Pettitt, a former project director at McLaren. Recent projects include the £250m Shinfield Studios in Reading and multiple refurbishment jobs for the British Museum.
A Curo spokesperson said it was proud to be part of the Charter scheme, and appreciated what a completed development will mean to residents and the local community.
The Charter marks the first phase of the regeneration of Gravesend town centre. The next phase will feature retail, leisure, office and hotel accommodation, including refurbishing and rebranding the St Georges shopping centre.
Speaking at a symbolic brick-laying ceremony in 2022, council leader John Burden said: “We must not underestimate the importance of the Charter for the future of our borough.
“Town centres have changed forever. Online shopping and the demise of major national retailers have sparked a change in what the high street is and needs to be across the country.”
