Report
British Land reportedly puts Canada Water’s second phase on hold
Bloomberg reports that soaring costs and lackluster sales have stalled the next phase, citing people familiar with the decision.
TLDR
Work on the first phase of British Land’s Canada Water development has concluded, but the company will wait for conditions to improve before breaking ground on the next phase, according to people cited in Bloomberg’s reporting. Those people say about 30% of the 186 first-phase homes have sold. The Bloomberg-credited Business Times account says British Land and joint funder AustralianSuper declined to comment.
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