: Wed Mar 11, 2009 1:46 pm
charlie wrote:
Just walked round that area. They are still working on the Bull Ring, but it's like a ghost town round the new devolpment area. Shops closed up, even The Fleece looked empty (i didn't go in to check!)
The bull ring is a different contract being undertaken by another firm
jonh wrote:
I am working with the Shepherd family in Newcastle and they do not seem to be in any financial trouble, quite the opposite, they are adding major buildings including schools etc to there property portfolio on a daily basis taking advantage of the drop in the market prices.
I don't know how financing works on these things but this development was being financed by loans from the Anglo Irish bank I think who have now withdrawn their commitment after being nationalised, wouldn't know where it leaves Shepherds but some of the workers told us some time ago that this was the only project that they had running and they didn't know where their next job would come from when this was finished, they also said that they didn't have high hopes of it getting finished above 6 months ago so this project has obviously been plagued with problems from the outset, still, looking on the bright side, there's a crew of construction workers kicking their heels ATM that could fill their time in knocking up a new ground somewhere in Wakey