Miller Group has blamed a reduced appetite for skyscrapers for a decision to scrap plans to build Europes tallest building in Birmingham.
It is replacing plans for the building, at Arena Central, with a 25-storey tower, half the original size envisaged. Miller plans to submit plans for the £400m scheme in March.
The company confirmed it hoped to buy out Hampton Trust, its joint venture partner in the development which will include 1.8m sq ft (167,220 sq m) of offices, flats, bars and restaurants.
Miller posted interim pretax profits up 142% to £7.5m.
The Times 17/09/02 page 24 (Need to know), page 31
