Herzog & de Meuron, the Swiss architecture firm behind the ambitious Tate Modern extension, took a reduced fee for work on the building project after costs went £45m over budget.
According to documents obtained by the Architect’s Journal under the Freedom of Information act, Herzog & de Meuron was asked not to take its full fee for extra work on the 10-storey building, which went from costing £215m in 2012 to £260m in 2015.
— theartnewspaper.com
The Art Newspaper cites the minutes from a 2015 Tate board of trustees meeting: "Conversation at a senior level indicates that [Herzog & de Meuron] will look sympathetically on this position, but that costs have already been incurred to a certain level, which will require some recompense, allowed for in the figures budgeted."
As published minutes reveal, some of the construction firms were also being named for unsatisfactory performance, notably window & facade contractors Seele and Loveld.
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