Unite scraps Paddington scheme and delays Bristol project delivery
Unite Students has pulled the plug on its planned 605-bed PBSA scheme in Paddington and deferred delivery of a student scheme in Bristol.
The Group’s £147million Paddington scheme had finally been granted planning permission by the London Mayor’s office, despite being rejected twice by Westminster City Council. Unite said that the scheme was no longer financially viable.
The decision to walk away from the Paddington project will see the developer write off £10million in planning costs.
Unite said that its decision to delay the 500-bed Freestone Island scheme in Bristol will allow it to explore options to secure “best value” from the development. The decision will free up around £55million of capital that had been earmarked for construction …