Yes this is the last thing we want. What an eyesore that would be.
Whilst not an expert I would imagine they have gone past the point when cheaper to carry on than leave to get vandalised.
Could be a ploy by the owners to get the LBC to allow them more 1 bedroom flats which the council turned down..
Let us hope this is just an ugly rumour.

Well, what's the word on the street snazy?

Don't fret, latest news is that property prices will be up 25% in 5 years time . That should keep the builders & buyers happy: http://www.guardian.co.uk/money/2008/jul...tworkfront

They are still advertising the development in today's press, so it is probably reasonable to assume that they are still planning to complete to project despite the poor state of the housing market.

Hopefully they will push ahead with the original plans for a decent mix of one and two bedroom apartments. And perhaps they could consider what the right price might be to market the flats. But good luck to them, it is not an easy environment for housing developers and I want to see all the flats and shops fully occupied.

Yes Michael. Let us be positive. They must have spent more than half the total devolpment cost already , so to abandon would not be a good option for them either.
Good to see the new pavement outside The All Inn One ( a very friendly pub ) , guess that will continue right past the devolpment.

Completion prices are currently circa 10% below asking prices in SE London.

http://timesbusiness.typepad.com/money_w...-coun.html

I'm not sure its just a rumour. I spoke to one of the builders who said that quite a few people had been laid off & he also seemed to think that they were planning to mothball the site. Work does seem to have slowed down recently. I fear we may be stuck with a bit of a carbuncle.

I'm not sure how likely this is. Whilst they won't want to be lumbered with a half(+) empty buidling if they do finish it off but can't sell the flats, on the other hand I would have thought they would have taken a few reservations and would want or even be obliged to finish the building and hand over these flats?

However they will no doubt have done the maths as to how much it would cost to finish versus how much it will cost to sit empty, and it may be that they can just refund the deposits and mothball. Apparently people are now (generally, not specifically here) starting to walk from new homes and leave their deposits...

What a fantastic opportunity.

Ladies and gentlemen.
I give you the new site for the FH pools/leisure centre.
Option um, 7.

Centrally located. Tick.
Opposite a large car park. Tick
Right next to the station. Tick.
Site already cleared (apart from the skeleton building) Tick.
No restriction on how modern/ugly the leisure centre can look as it has to be better than a building site. Tick.
Should be going cheap. Tick.
The historical building sited here has already been sacrificed. Tick (for the FH philistine tendency)

The only flaw in the plan is the lack of a pedestrian crossing.

Seriously, if there is any truth in this, Lewisham should be negotiating with them now.

Sounds ideal but I would imagine some persons would object because lack of parking. Seems to be the major issue for some.
Seriously though I do hope this building is finished on schedule. Yesterday looked like reopening the canal on Perry Vale.

Could always turn the existing skeleton into a multi-storey and just have them flood the roadway again - a bit of banking round the sides and we could upgrade to "Forest Hill Lido"...

Although it is now apparent that this project is unlikely to be as profitable as Berkeley Homes originally forecast, (not least because the flats were always well over-priced) I really can't believe they would just abandon this project and write off the cost - it would surely be a massive loss for them. The housing market will recover at some point, and Forest Hill may get an earlier recovery than most areas because of the East London Line extension.

Surely it is more likely that if Berkeley are having second thoughts then they will either try to sell the project onto another developer or they will seal off the site, make it waterproof and simply wait until the market recovers before re-commencing work. This latter option is what a builder told me is happening on a lot of these development sites now.

Yes I agree. Hopefully they will still press on as must have spent well over 50% of total costs.

I hate to be pessimistic, but me and my better half think they are mothballing it.
Usually, by the time the structure gets to the top, they're starting on other trades from the bottom up - cladding, insulation, first fix plumbing and electrics.... but none of that is happening. We think BH were committed to the structural package but have stopped the rest of the sub-contracts. It's really unusual to see so little activity at this stage.
I really hope I'm wrong about this being it really WILL be a dreadful eyesore!!!

Yes Graham I agree. Maybe the council could put some pressure on them if you are indeed correct.
I must admit the number of workers seems to have declined but could just be the holiday period.
If they do mothball what will happen to the road works.

I have heard from a reasonably reliable source that they are looking to sell the whole development to a housing association. Reality is that they aren't going to get the prices they predicted now and given they probably got a good deal on the land its the only sensible thing to do to cut losses.

However, the planners could still turn round and say no to a 100% affordable scheme - I'm not sure how likely / unlikely this is though in Forest Hill.

I think the flats will probably sell better when the East London Line is completed. But that is some way away.

You seems very short-sighted on the part of the developer. The flats will sell, just not at an unrealistic price. Whilst the profit margin no doubt will not be as fat as initially hoped for, surely they can still make money from it??

As for a 100% HA, great news (not), Forest Hill's most prestigious development in years and it screws up...

East London Line might be here sooner than we thought....

Thanks to BarCar who linked this on the ELL thread which mysteriously is deemed Outside of SE23???

Would be nice if it is true amid the tumbling house prices, mothballed developments and Forest Hill Pool's fiasco

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According to http://londonconnections.blogspot.com/20...-news.html

....the East London Line will be reopening in January 2010 rather than the previously planned "Summer 2010".
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Yes we do not want more housing association , these should be sold on the open market.
This area has already got well over the national average of subsidised housing