What a surprise Friars Walk, Newport's landmark scheme will be delayed by three to six months according to Modus, the company responsible for the development. one of the main debt providers withdrew its financing. Ciref and Modus said the 440,000 sq ft scheme would now be delayed for three to six months ‘to enable a replacement bank to be secured by the banking syndicate’. Lead banker, the Royal Bank of Scotland, remains committed to the scheme, which is now expected to start during the third quarter of this year. Modus, which is led by Brendan Flood, has more than 35 schemes in the pipeline. Flood said Modus would fund the schemes itself initially, although it might seek third-party investment later.
0 comments:
Post a Comment