After finding structural problems in the building’s construction, a London developer has decided to demolish the block and rebuild it from scratch. The problem was discovered by Taylor Wimpey, a housebuilder in London. Taylor Wimpey decided that the best strategy was to remove the existing concrete structures and rebuild it using a revised design that conforms to the existing planning consent. The company did not disclose how much money it lost due to the problem. A spokesperson for Taylor Wimpey said that safety and health are top priorities and that the decision was made after extensive consultation with independent structural engineers. “We are currently finalizing a demolition strategy, timeline, and are in the process to communicate with local residents and businesses regarding our proposals. The Architects Journal has revealed the plans for demolition of The Factory three years after it was approved by London Legacy Development Corporation (LLDC). The new building, located on Monier Road near the River Lea was designed by dRMM, an award-winning architect. It involved clearing a cluster old warehouse buildings to make way for buildings up to seven stories. The building will be affordable for 35 percent of the homes. It will also offer affordable rent tenures and shared ownership. READ MORE: Taylor Wimpey plans to buy back 100 million shares in 2021. Two years later, Hackney Wick customers are still worried about their lives after a floor collapse at Hackney Wick bar. A triangular red-brick building has ground floor creative studio space. There is also a row of townhouses near a former piano factory on Beachy Road. It also includes podium gardens above townhouses and workspaces. Taylor Wimpey said it is currently in discussions with the LLDC to determine if planning permission is required for the demolition and rebuild.