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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal BAM Group N.V.    BAMNB   NL0000337319

ROYAL BAM GROUP N.V.

(BAMNB)
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Royal BAM N : Redcar Cinema scheme to be delivered by one of the UK's leading construction firms

10/09/2020 | 03:05am EST
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Redcar, 9 October 2020 - Redcar and Cleveland Council has appointed one of the North East's major contractors, BAM Construction UK, to deliver the new Regent Cinema development in Redcar.

The striking new £9.7 million facilities are funded by the Tees Valley Combined Authority (TVCA).

The new community venue has been designed to seat nearly 200 people in three screens with 34, 56 and 94 seats respectively following the discovery in 2018 of serious structural problems in the existing building which forced its closure. The new Art Deco style cinema reflects the rich history of the site and has key features such as a licensed café bar with sea views.

The new cinema stands on the beach front, which poses some issues for the construction. But BAM - which was recently appointed to build The Northern School of Art had a solution up its sleeve. Says Construction Director Tony Fitzgerald, 'We're not just a local construction firm, we develop, design, construct and operate buildings, and our sister company, BAM Nuttall, are leading marine specialists. Having worked on a number of coastal projects in the North East including a new RNLI lifeboat station in Scarborough and the renewal of Saltburn Pier. They have provided advice on the sub-structure design with suitable materials and solutions for the coastal environment and more importantly tidal working knowledge. This expertise, plus our collaborative and high-tech way of working, are what we bring to making this historic part of Redcar live again.'

BAM has a strong relationship with Redcar Council having built Redcar and Cleveland College, and Tuned In in the town previously. Tuned In was also on built on the beach front less than half a mile away from the Regent.

'Being 150 years old ourselves and having built in the North East since 1916, we know that it's a tremendous shame to demolish a lovely old theatre from the 1920s for which there is some local affection, however we know the building is beyond saving. But the new scheme looks eye catching. It's built right onto the beach, uses natural light and has a terracotta façade, and it will provide that special building which enhances any location.'

The architect is GT3, Fairhurst are the structural and civil engineers and Identity Consult are project and cost managers. The project has recently commenced with an aim to open the cinema in spring 2022.

Disclaimer

Royal BAM Group NV published this content on 09 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2020 07:04:02 UTC


© Publicnow 2020
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Sales 2020 6 646 M 7 950 M 7 950 M
Net income 2020 -113 M -135 M -135 M
Net cash 2020 311 M 372 M 372 M
P/E ratio 2020 -5,24x
Yield 2020 -
Capitalization 530 M 634 M 634 M
EV / Sales 2020 0,03x
EV / Sales 2021 0,04x
Nbr of Employees 19 517
Free-Float 94,8%
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Henry M. M. van de Ven Chief Information Officer
Carla M. C. Mahieu Member-Supervisory Board
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