Westfield Delays ￡1.2bn Of Uk Retail Projects

摘要

Westfield has delayed UK shopping centres worth ￡1.2bn and started a wave of redundancies as the economic downturn takes its toll on retail development.rnIt is understood that the Australian developer, one of the sector's biggest clients, has put back the start of its ￡700m Nottingham Broadmarsh scheme, the ￡320m Bradford Broadway development and a ￡140m extension to The Friary in Guildford.rnThe extent of the delays is unclear; however, one source close to the company said the firm did not realistically expect to start construction work onrnits programme until the "back end of 2010".rnThe expected start dates of these projects have never been announced, although local press reports from Bradford say that scheme, where enabling works have taken place, was expected to achieve completion in 2010. Westfield is understood to have alerted consultants and firms within its supply chain that the pipeline of work will come on stream later than anticipated.rnThe firm's ￡1.45bn Stratford City development, where it is currently on site, will continue as planned for a 2011 opening although it is believed the firm is considering reconfiguring its fit-out timetable.