The scheme of re-equipment Walbrook Square in London, developed by architects Norman Foster and Jean Nouvel has reeled: the developer of the project has preferred to pay the penalty at a rate of 100 million pounds sterling, rather than than to carry out of the obligations on project development.
The largest Spanish developer Metrovacesa incurs losses in connection with financial crisis (5,1 billion pounds sterling); now the company is ready to pay 100 million pounds of the penalty to the owner of the project, the company “Legal and General”, for refusal of participation in the project (the investment of 840 million pounds sterling).
The area project is the general project for two well-known architects which cooperation has received name Atelier Foster Nouvel. Under the plan, round the area 4 towers should be constructed. On a piece of the earth the area of 15 thousand in sq.m. it was planned to erect about 9 thousand in sq.m. of the trading areas and 85 thousand in sq.m. office.