Forum Topic

Perceval House redevelopment - a warning

I see Galliford Try, the company signed up by Ealing Council to redevelop Perceval House is in difficulty. I wonder how much the Council has already pledged to give it if the proposed works don’t happen.https://www.theconstructionindex.co.uk/news/view/job-losses-ahead-as-galliford-try-scales-back-on-construction

Simon Hayes ● 2391d4 Comments

The issue for the development is that the only flats that are selling are those eligible for help-to-buy. Only units below £450,000 qualify for this so you probably could just about make the scheme viable if you made it mainly one bed flats.

Mark Evans ● 2387d

Really? What about the £350,000 the developers of the Town Hall will get if the proposed hotel doesn’t go ahead? Is that fair and reasonable? It’s our money, not Julian Bell’s to do with as he wishes.The Perceval House development is based on flogging off the new flats included in the scheme. Given that the market for those has evaporated in Ealing just how will the scheme be funded?

Simon Hayes ● 2390d

Surely that would depend on how much time and money they have already spent on the project.  It should be fair and reasonable.

Philippa Bond ● 2390d

Galliford Try's shares have more than halved over the last 12 months. The 'trading update' they are due to provide on 22 may could make interesting reading.

N V Brooks ● 2391d