THE administrators of the developer behind Birmingham's iconic Cube project say that construction work is back on track.
The PWC-led administration team said it had agreed terms with all the contractors on the project, who were now on site, and work was back on schedule.
Construction had halted on the site following the collapse of developer Birmingham Development Company (BDC) and its construction arm BuildAbility, after it was unable to secure more financial support from its bank, Lloyds.
Matthew Hammond, joint administrator and partner at PWC, said in a statement: “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.
“Neil Edginton, director at BuildAbility, and the team have put in an enormous effort during a very difficult time to ensure that the site was secured on our appointment, re-opened safely and as planned, and that normal day-to-day operations were resumed in as smooth and efficient manner as possible.”
The Cube was designed by Ken Shuttleworth's MAKE practice, and will house offices, apartments, retail units, a hotel and luxury restaurant.