May 29, 2009

Another Big Office Building Project Stalled in Leeds

Filed under: Biz Ops, Plugging — admin @ 8:15 am

After stalling of the Lumiere skyscraper project on Wellington Street, latest in line of casualties seems to be the 14-storey office building planned to be built on 175,000 sq ft area, at the intersection of City Square and Wellington Junction. This building was to be built on a brown field piece of land, which was acquired in 2007 by McAleer and Rushe, an Ireland-based development company.

Though the structure was planned to be ready for use by 2010, the development of the building is yet to commence. The markets have played a spoilsport and have jeopardized the likelihood of funding of the project.

However, the development firm has shown no signs of giving up entirely on this project. They are attempting to get hold of funding by accruing deposits from prospective tenants, and rent a desk schemes are being considered as a possible solution to making use of any available office space.

Developers refuse to throw in the towel where this project is concerned, saying that they are determined to get work started on it even if it takes full three years to build this landmark building. The residents of Leeds are also hopeful that this project will see the light of the day.

Gary Cooke makes a pertinent point in this regard, stating that this project, once completed, will serve as a status symbol for the Leeds

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