major wycombe uk project nervous of mxg.

WYCOMBE District Council's head of property services is meeting the troubled construction company which has the contract to build the £180million Eden centre.

Charles Brocklehurst will now meet Tim Nathan, finance director of the Australian owned company, Multiplex UK, on Tuesday about the new High Wycombe shopping centre.

Multiplex is in trouble over its flagship project in the UK, rebuilding Wembley Stadium. It expects to lose £45million on the £757million project.

In addition the parent company's profit forecasts have dropped and its share prices slumped to a record low as a result.

The company's Australian founder and chief executive has resigned, as has its UK managing director.

Wycombe District Council wants to be certain the Multiplex troubles will not affect Eden, work on which is due to start in September.

The leader of the Labour group on the district council, Clare Martens, met Mr Brocklehurst and said she was modestly reassured.

"This is not about us, but about their blunder at Wembley. Eden is a small fish in a big pond."

But she said at the next council meeting she would be asking questions. "I expect to be reassured that our investment is safe. The council is committed to the Eden centre and we trust that Charles Brocklehurst and Lesley Clarke (council leader) are doing all they can to safeguard our position."

"I don't see our position as any worse as a result of what has happened at Wembley."

Cllr Clarke said Alan Peach, the development director for the council's development partners Stannifer had said everything would be okay and she was fairly confident.

Multiplex took over Stannifer last autumn and its construction arm then bid for the High Wycombe building contract against three UK firms.

Mr Brocklehurst said Tuesday's meeting would not be taking place had there not been trouble over the Wembley contract.

"But the scheme (Eden) is extremely robust and a viable project. The fact that the building arm of Multiplex is in trouble on an other project is a side issue.

"This meeting shows that we are not just sitting back and seeing what happens."


9:54am today