RED Group Takes Over £50m Chancery Lane Retrofit After Ardmore Collapse

RED Group has won the contract to complete the £50 million retrofit of 5 Chancery Lane in central London, a scheme left unfinished when original contractor Ardmore Construction Group collapsed into administration in June.

Ardmore started on site in early 2024 for developer LS Estates. Work stopped when the contractor entered administration. RED's London division will now finish the job, with completion expected by the first quarter of 2027.

The appointment answers a question every developer dreads: who steps in when a main contractor fails mid-programme? For the supply chain already mobilised on the Chancery Lane job, the answer arrived in the form of a firm promising rapid onboarding.

Ian Hopkinson, Group Director at RED Group, said: "A refurbishment of this size and importance requires vast experience and the ability to quickly onboard for the benefit of the project's supply chain and eventual occupier."

He added: "This appointment showcases our capabilities, as a stable, collaborative contractor well-positioned to take on complex schemes and provide important solutions for clients."

What does the change of contractor mean for the scheme?

The switch resets the delivery clock. A project that broke ground in early 2024 now carries a completion date in early 2027, a timeline that absorbs the administration gap and the remobilisation period a new contractor must build in.

For subcontractors and suppliers tied to the original Ardmore package, the signals matter. Hopkinson's emphasis on speed of onboarding suggests RED intends to work with the existing supply chain rather than reset procurement from zero. Practitioners who lived through the June stoppage will read that line closely.

For LS Estates, the priority is continuity of vision rather than mere completion. The developer frames 5 Chancery Lane as a sustainability-led asset aimed at a London office market that, in its reading, still rewards upgrading over replacement.

Rowan Jenkins, Managing Director at LS Estates, said: "LS Estates remain firmly committed to delivering 5 Chancery Lane as a sustainable office building that meets the strong demand in London's office market."

He continued: "As demand for market-leading workspaces in the capital continues to grow, it remains crucial to prioritise upgrades which maintain cultural heritage and lead on sustainability."

Jenkins closed with a direct vote of confidence in the incoming team: "The appointment of the RED London team signals this assurance, and we look forward to working closely with the company to ensure we bring this building to life in 2027."

A test case for rescue contracting

The Chancery Lane rescue gives RED's London division a £50 million showcase in a segment where proof of delivery matters more than pitch decks. Contractors that complete distressed schemes cleanly tend to win the next one.

The project also lands as a live case study in retrofit economics: a heritage central London building, a £50 million budget, and a developer arguing that upgrading beats demolition on both heritage and sustainability grounds. Whether the 2027 date holds will depend on how quickly RED converts inherited site conditions into a working programme.