Brookfield fear for Skanska and McAlpine

Grant Prior 10 years ago
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Sir Robert McAlpine and Skanska are facing an anxious few months over a £290m office scheme they are both bidding for near London’s Liverpool Street.

Property giant Hammerson has sold the Principal Place development site as part of its new strategy of focusing on retail schemes.

A spokesman for new owner Brookfield Office Properties told the Enquirer it was too early to speculate on whether the job would be retendered.

He said: “The sale won’t be finalised until September and things will become clearer then.”

Skanska and McAlpine have been head-to-head since late last year and both received a blow in January when the job was delayed when a prospective tenant pulled-out.

One London commercial expert said: “The worry for both firms is that Brookfield Multiplex is an affiliate company of Brookfield Office Properties so picks-up a lot of their construction work.

“Brookfield Multiplex has a couple of stalled jobs in the city at the moment so it doesn’t take a genius to work out what sort of discussions could be going on soon.”

The Principal Place project consists of a 600,000 sq ft office element and a separate 50-storey resudential tower.

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