Boston development put in doubt
by Pete Hayman | 08 Jul 2009
Doubts have been cast over the future of the proposed Merchants Quay development in Boston, Lincolnshire, after the developer behind the mixed-use scheme was placed into administration.
Proposals put forward by Modus Eastern (Boston) for the 300,000sq ft (27,870.9sq m) West Street development included a new riverside restaurant quarter, a hotel and retail units, as well as more than 100 city-style apartments. However, the project has now been put on hold by Boston Borough Council (BBC) until the economic climate improves, after Modus Eastern (Boston) was placed into administration on 9 June.
Richard Dungworth, BBC cabinet member for regeneration, planning, sport and culture, said: "Given the state of the national economy, the West Street Development is on hold but we will continue to work with people who have an interest in the site. "The work which has been done so far will underpin any future schemes which may come forward when the economic conditions improve."
Simon Allport and Tom Jack of Ernst and Young have been appointed as joint administrators of number of companies owned by Salford-based parent company Modus Ventures, which collapsed in May. Allport said: "We are currently assessing the status of various assets and developments involved."
Doubts have been cast over the future of the proposed Merchants Quay development in Boston, Lincolnshire, after the developer behind the mixed-use scheme was placed into administration. Proposals put forward by Modus Eastern (Boston) for the 300,000sq ft (27,870.9sq m) West Street development included a new riverside restaurant quarter, a hotel and retail units, as well as more than 100 city-style apartments. However, the project has now been put on
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