Just to advise on the current state of the project which is now moving forward with great excitement.
We have been working closely with Land Securities throughout this year and have made slight amendments to our design to incorporate changes in the infrastructure around our development site. These are now complete and we have put our proposals to the local authority.
We have used the time to "value engineer" the project and have come up with some considerable cost savings.
We have revised our business plan accordingly and are in negotiations with a bank regarding a substantial loan for the project.
At the end of October our legal team met with Land Securities legal team to take forward the agreement for lease and lease documents. Good progress was made.
We are looking to agree an accelerated programme with our joint venture partners over the next few weeks in order that we can confirm our funding agreement with the bank. We hope to start building on site in May 2012.
Our design team met today to advise on the timescale for delivering design.
We have completed on site engineering investigations to inform foundation design.
All of the above is very exciting and after a number of years of waiting we can now see things starting to move very quickly.
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