The future of a £100m regeneration scheme in Birmingham is in doubt after developer HBG Properties withdrew at the 11th hour. The company pulled out of the development of the site off Great Charles Street on the eve of signing contracts with Birmingham City Council. The authority will now look again at bids from the other four developers who were shortlisted for the contract, and pick a new partner in September. Cabinet member for regeneration, Cllr Ken Hardeman, said: ‘We’re obviously disappointed that HBG did not deliver what it offered. ‘It’s not a major problem because we have so many other interested parties waiting in the wings. I’m confident we will secure the quality of scheme this site deserves.’ A spokesman for HBG Properties said: ‘The company regrets any embarrassment caused, but emphasises that its withdrawal from this particular scheme was covered by certain conditions contained in the original bid. These conditions are confidential. ‘This situation does not limit HBG Properties’ continued commitment to, and investment in, the Midlands generally, or Birmingham specifically.’
