Cube to go on despite developer’s collapse
Make expects its major mixed-use tower in Birmingham, the Cube, to be finished despite the developer going into administration last week
The £100 million project was one of Make’s first big jobs when it began work on the 23-storey building back in 2005 — a year after the practice was set up by Ken Shuttleworth.
Shuttleworth said this week that administrator PricewaterhouseCoopers had already contacted him about the project, which is around 80% complete.
“It’s a great shame but I think it will get finished,” he added. “It’s well developed and some parts of it have already been handed over. It’s my home town as well so I’m very keen to see it built.”
The Cube is the final part of the city’s Mailbox development — where the former Royal Mail sorting office was located.
Directors of the Birmingham Development Company and contractor BuildAbility — the two firms behind the Cube — said they were “bitterly disappointed” after failing to reach an agreement with bankers Lloyds to enable it to be funded to completion.
In a statement, they said: “Like many development projects across the UK, it has succumbed to the pressures of the global economic downturn, which followed the credit crunch.”
PricewaterhouseCoopers said it had begun talks with the “principal stakeholders in the project” about completing the development.
n Make and National Grid’s 3,750- home scheme to regenerate Southall town centre in west London has been approved by London mayor Boris Johnson, despite opposition from Ealing and Hillingdon councils.