The long-awaited £80 million Peach Place retail development can survive the global credit crunch, says its developer.

Rock Investment Group says the scheme can weather the harsh financial climate despite news that other similar schemes

nationwide are collapsing due to a lack of confidence in the market.

Wokingham Borough Council says it also believes the scheme is viable but it is waiting

for a vital planning agreement to be signed by Rock, for it to go ahead.

Rock says it is confident as it has already been granted financing from the giant international

specialist banking group Investec.

But it warned things could change if the council does not act soon to finalise plans.

- See this week's Wokingham Times for full story.