Thursday, 2 September 2010
Works to restart on Riverside South scheme in Docklands as JP Morgan refuse to comment on a planned announcement for the Docklands development
With the Riverside South site still showing no visible signs of construction activity, the long running question of whether JPM will commit to the docklands scheme remains. Brian Machiony, JPM’s Head of Communications for Europe, the Middle East and Africa (EMEA), who is currently relocating to London from New York has stated that the bank “have no comment for the moment”. Canary Wharf Group (CWG) simply state that any decision rests entirely with the US bank and that despite the potential £76 million payable in the event of JPM backing out of the deal, there is no firm deadline for a decision to be made. CWG have however confirmed that the next phase of construction on the site will commence shortly, with additional electrical and drainage infrastructure being installed along the Riverside Wall, which is at least some positive news for the development.