Cube work back on track, say administrators
THE administrators of the collapsed Birmingham Development Company (BDC) say building work is back on track on the iconic Cube development in the city.
The PwC-led administration team said today they had agreed terms with all the main contractors on the project, who were now on site, and work was back on schedule.
Construction had halted on the site next to the Mailbox following the collapse of BDC and its construction arm BuildAbility Ltd (BAL) after chief executive Alan Chatham failed to secure ongoing support from bankers Lloyds at the end of March.
However, Matthew Hammond, joint administrator and partner at PricewaterhouseCoopers praised contractors and BDC and BAL staff for getting the project back on track.
Mr Hammond 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.”
Contractors singled out for praise include Fitzgerald Contractors, Haga, Otis and Robert Pretties.
Mr Hammond added: “Neil Edginton , Director at BAL, Anthony McCourt 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.
“I would like to thank the staff of BDC and BAL for their understanding, co-operation and support in the immediate aftermath of the administration. They have each been critical to the safe and secure resumption of works at The Cube.”
The MAKE Architects-designed Cube will house offices, apartments, retail units, a hotel and luxury restaurant. Observers in the West Midlands commercial property market have speculated since the BDC collapse that the building’s ambitious design led to cost over-runs that bankers Lloyds could no longer tolerate.
However, Neil Edginton, director at BAL, said: “Along with the senior team here at BAL I have always been and remain dedicated to completing The Cube development in keeping with the original specification and philosophy of the design. The completion of the building of The Cube is vital to Birmingham and to ensure we avoid another temporarily suspended landmark city centre building.
“Having lived and breathed The Cube for the last five years, I stand wholeheartedly by the design which will be a gem for Birmingham when completed. The iconic nature of this building, with its signature architecture and design team of global standing, will add a unique architectural dimension to Birmingham City Centre.”
