Development Securities have extended the time Peter Virdee has to pay the balance on the development known as 399 Edgware Road for a third time.
Virdee now has until 28 November to complete the deal. DevSecs said it had agreed to a further extension of terms for the £52m loan following the previous deadlines of 31 July and 15 September.
Virdee has already paid DevSecs approximately 25% of the disposal price on a non-refundable basis, along with all interest payments on the outstanding loan notes, which he would forfeit if he failed to complete the deal.
