Wednesday, Apr 23, 2008
Closer to home....property develop jumps ship on redeveloping former Tesco site
Shropshire Star online: Developer pulls out of £7m deal
Hopes of building more than 100 homes on the site of a former supermarket in Shrewsbury have been dealt a blow after a second developer pulled out of a deal to buy the land.
Morris Homes was due to buy the old Tesco site at Arlington Way in a deal worth nearly £7 million.
Brief online story...also Persimon are developing a large site just north of Shrewsbury - after an initial flurry of activity last year - it's all looking a 'pretty vacant'.
Just the tip of the iceberg!
Posted by rental john @ 06:45 PM (314 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
This is commercial property development, which has been bombing for quite some time.
In Central and East Central Lahndan for example, there are many many office developments which look as if they are not going to have any tenants when they open later this year and early next year.
2. drewster said...
Ditto in Manchester, there are a number of shiny office blocks sitting vacant. Several are advertised as "To let or to sell", can't they make up their minds?
3. waiting for the crash said...
Used to work in Bracknell and its ridiculous the amount of office space that has just been built. All vacant of course.
4. European-bear said...
it is land for 100 houses and the price has dropped from 8 million to 7 million in one year (i.e. 12.5%). £70,000 for each plot....still sounds a lot....
5. night said...
"Used to work in Bracknell and its ridiculous the amount of office space that has just been built. All vacant of course."
Also used to work in Bracknell. There were some new-build apartments ("Celsius - feel the heat") going up on the MET office roundabout with asking prices of £185K for ONE bedroom. I now live in the Midlands and could find a 3-bed home for £145K, with a garden. But then of course I don't want to buy something I can save £35K on in a few years.
There was also a huge residential development going up on the outskirts of Bracknell heading toward Wokingham. I'll be down there soon, I might have a look at the prices and report back...