Minerva confirms commitment to City tower, London (UK)

Minerva has issued a stock exchange statement reiterating its commitment to to build the 92,902 m² Minerva Building, following speculation that it had shelved the plans.The announcement said: 'Minerva remains highly committed to this project and is in the process of refining the internal design of the building in readiness for the financing and letting of the development.'

Reports said the City of London project, which is seen by Minerva as one of three schemes in its plan to recover from its £44m annual loss, had been shelved because of the lack of development partner or financial backer.

A spokesman said that while Minerva remained focused on the project, which is the largest headquarters building in London to receive planning consent to date, it is keen to complete the two other large projects in its strategy first. These are the 39,483 m² Walbrook office development, which is also in the City, and the 83,612 m² Park Place shopping development in Croydon, south London.

Source: Porperty Week

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