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Impossible deadline kills tower

NEWS

A £50 MILLION tower planned for a site near London's Olympic development has been scrapped after the land owner set an unmeetable deadline.

Developer Aitch Group and Toynbee Housing Association had shortlisted four firms to work up bids for the residential scheme in Stratford, east London. But as tender documents arrived at contractors' desks the plug was pulled.

A statement in the Official Journal said: 'The vendor of the site has given a deadline for exchange of contracts that falls within the tender return period and would truncate the process to an untenable level.' One contractor said: 'We might still have a look at it as it's sure to come up again.' The land owner has not been named.