Business

Toxic sale for Hoxton tower

11 April 2012

A partially built £65 million residential tower in Hoxton has been put up for sale by Irish toxic debt organisation the National Asset Management Agency (Nama).

Agents Cushman & Wakefield have been appointed to sell Eagle House at 159 City Road, which has planning permission for a 27-storey tower containing 300 flats, a supermarket, gym, shops and offices.

The site was owned by Irish developer McCabe before it collapsed with debts of £175 million.

Work began in 2008 but was stopped for the whole of 2009, before restarting this year. But it halted again when subcontractors claimed they had not been paid.

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