Noho design period put on hold, in light of cash shortfall

The final build date of Noho, the billion pound development in north London has not been put back despite developers entering talks to raise more funds, it has been reported.

The final build date of Noho, the billion pound development in north London has not been put back despite developers entering talks to raise more funds, it has been reported.

Noho, which is being developed by a consortium of construction companies including Candy and Candy, has run into financial trouble during its design work, and discussions are being held concerning the raising of more funds for the building in future.

Project Abbey (Guernsey) Development (PAGD) spokesman Richard Williams said: "We remain fully committed to the project and are proud that, when completed, Noho Square will be an outstanding example of a contemporary, high-end, environmentally sustainable mixed-use development offering extensive community facilities.

"Ken Shuttleworth and his team at Make's design is exemplary, creating a master-plan which will bring 261 new homes as well as on-site social housing and 33,000 sq m of office space and community facilities, including a new public garden."

The development comes as the construction industry is fighting rising costs across the board, including soaring fuel prices and that of raw materials, which are all putting a strain on the industry's finances.