Housebuilder Lovell has pulled out of a consortium that is to carry out the £275m redevelopment of West Hendon in north London.
Lovell – which specialises in affordable housing – declined to reveal why it was withdrawing from the scheme, saying only that it had incurred "no financial penalties".

Lovell business improvement manager Marcus Keys said: "The situation is by mutual agreement.

"Lovell has decided to step aside while the structure of the consortium is worked out. We all went in together to win the project, but now we're at a more detailed phase of working out how the consortium will work.

"Any issues that need to be resolved should be resolved."

The Metropolitan West Hendon Consortium includes Metropolitan Housing Trust and Bellhouse Joseph Developments.

The remaining partners said they would "leave the door open" for another partner – possibly Lovell – in future.

The scheme, scheduled for completion in 2013, will yield 2005 homes, 680 of which will be affordable.

Source

Housing Today