HSBC offices shortlist down to two after ISG failure

Just two firms are left on the list bidding the biggest fit-out job currently up for grabs in London following ISG’s demise.

The scheme at 81 Newgate Street to fit out the new offices of HSBC, currently being built by Mace, was being tendered by Overbury, Mace – and ISG.

But the firm collapsed into administration last Friday leaving Overbury and Mace to now fight it out for the £200m deal at St Paul’s.

Building understands that ISG’s bid was already being discounted by rivals because of its growing financial problems with rumours beginning earlier this month that it was on the brink of collapse.

Overbury recently won a £100m scheme to fit out the London offices of law firm A&O Shearman, having pipped Mace in the final round.

Meanwhile, ISG is understood to have completed the final few floors of its £100m scheme to revamp the headquarters of Barclays at Canary Wharf before it collapsed. The firm won the deal at 1 Churchill Pace back in September 2021.