Developers Quintain and Lend Lease could be forced to build most of the ￡5bn Greenwich Peninsula scheme themselves, it has emerged. The news came as the National Audit Office warned that the taxpayer risked losing ￡60m because of a two-year delay on the residential element of the English Partnerships scheme. The development joint venture, known as Meridian Delta Limited (MDL), has already been forced to develop 45% of the project directly instead of the 25% originally planned, due to the scheme falling behind schedule. The rest was to be taken on by third-party developers, but sources close to the project conceded that MDL was likely to have to build more of the 10,000-unit scheme itself as land sales plummeted.
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