May 24 2013 Latest news:
by Jessica Earnshaw , Reporter
Wednesday, July 25, 2012
The completion of one of Ilford’s most iconic buildings looks to have been secured after months of delays caused by the project owners going into administration.
The future of Pioneer Point in Winston Way, Ilford looked uncertain when tools were downed in March, but the towers will now be completed by London & Regent Construction (L&R), a subsidiary of Empire Property Group International (EPGI).
The 294 one and two bedroom apartments are expected to be on the market “within a matter of weeks”.
As reported in the Recorder at the time, project owners Empire (SPV) Ltd, a subsidary of EPGI, went into administration in March.
EPGI, controlled by Hayden Chittell and German bank Helaba, successfully restructured the financial arrangements.
Mayfield ward Cllr Jas Athwall said: “I welcome the fact work will be completed, as it is just a shell at the moment. However, despite the fact I am happy to see it finished, I think in the early stages of development a lot more planning was needed.”
It is understood rooms in the blocks were being fitted out, air condition units were being installed and electrical work taking place before work was suspended.
Loxford ward Cllr Filly Maravala added: “I think people will be apprehensive because of the increase in traffic and many don’t see the point of having a 33-storey building when social housing is needed.”