Spanish Developer Pulls out of London Walbrook Square Project

4 August 2009 (Last Updated August 4th, 2009 18:30)

Spanish property company Metrovacesa has opted out of a £300m project in London, putting the scheme in jeopardy. The Walbrook Square in the City of London has already been delayed due to a legal wrangle between Metrovacesa and freeholder Legal & General. Metrovacesa has now r

Spanish property company Metrovacesa has opted out of a £300m project in London, putting the scheme in jeopardy.

The Walbrook Square in the City of London has already been delayed due to a legal wrangle between Metrovacesa and freeholder Legal & General.

Metrovacesa has now reportedly incurred a penalty of £100m for opting out of the project designed as a set of 22-storey tower blocks.

The project was designed by architects Norman Foster and Jean Nouvel.