City of London Corporation awards QS services contract for Aldermanbury refurbishment

City of London Corporation has appointed Fulkers Bailey Russell to deliver professional cost consultancy (QS) services for the CAT A refurbishment of 20–21 Aldermanbury in London.

The contract, will support the delivery of the refurbishment project through a Design & Build route, ensuring robust cost control and value for money across all project stages.

🏗️ Scope of services

Fulkers Bailey Russell will provide a full suite of commercial and cost management services, including:

• Cost planning and benchmarking

• Whole-life and carbon cost analysis

• Procurement and tendering support

• Value engineering

• Risk and contingency management

• Cost assurance and commercial management during construction

• Post-completion services

The consultant will work closely with the wider project team to maintain financial oversight and performance throughout the lifecycle of the scheme, aligned to RIBA Plan of Work stages.

📊 Procurement insights

The contract was awarded following a Competitive Flexible Procedure, attracting strong market interest:

• 35 tenders received

• 3 bidders shortlisted to final stage

• 2 SME bidders in final stage

  
  

The successful appointment highlights continued competition within the cost consultancy market, particularly for public sector refurbishment schemes in London.

📅 Programme details

• Award decision: 30 March 2026

• Contract start: 15 April 2026

• Completion: March 2028

The contract includes provisions for extension, ensuring continuity of services should the construction programme be delayed or extended.

🚀 Market significance

While modest in value, this award reflects continued public sector investment in commercial oversight, cost certainty, and carbon-aware delivery on refurbishment projects across London.

It also reinforces the role of specialist consultancies in supporting clients through increasingly complex procurement and delivery models.