Cube back on track says PwC
Work on The Cube scheme in Birmingham “has returned to normality” two weeks after its developers Birmingham Development Company Limited (BDC) and Build Ability Limited (BAL) went into administration.
Administrator PricewaterhouseCoopers says all material sub-contractors have now agreed terms to support the construction works. Matthew Hammond, joint administrator and partner at PwC in Birmingham, said: “We are delighted to be in a position today where we have been assured of the support of all the main contractors – this is a vote of confidence for The Cube and is good news for all involved and for the city too. We look forward to working closely with the contractors to complete this iconic development to its original specification and we are pleased to report that the programme of works is now back on schedule.”
BAL director Neil Edgington and BDC’s Anthony McCourt have been kept on by the administrators to help steer the scheme to completion. The plug was pulled on the £150m mixed use development a fortnight ago when funder Lloyds TSB declined to renegotiate loans to BDC and BAL. Tenants at The Cube, an extension to The Mailbox, include The Highways Agency, which has taken 50,000 sq ft of space and is due to move in May.
