Minerva in talks for Park Place partner

It said: ‘Now that the uncertainty around our ownership following the ending of discussions with Limitless has been resolved, we are advancing discussions with potential investors regarding a joint venture for the Park Place development in Croydon.

‘Once a partner has been chosen, we will apply for revised planning which we believe will satisfy the prospective anchor tenant.'

In its interim management statement to the stock market, it also confirmed that construction will continue on The Walbrook and St Botolphs developments in the City of London and on the Lancaster Gate development overlooking Hyde Park.

It said: ‘Building work on all three developments is on track, on budget and progressing well. The funding of the developments is operating to plan.’

Minerva chair Oliver Whitehead said: 'Minerva has a diverse and high quality portfolio of developments and investments.

‘We have a robust balance sheet, funding in place for our key developments and a strong cash position. Although the economic background remains challenging and uncertain, we have in place the projects, finance and the management team to take us through this difficult period.'

At Croydon, Minerva has been searching for a partner since its former joint venture partner, Lend Lease, walked away from the project earlier this year.