Amended plans for the redevelopment of Bircherley Green have been withdrawn by developer Wrenbridge.
News of the withdrawal comes just 10 days before the plans were due to be discussed by the district council's Development Control Committee, with planning officers recommending that the plans be approved.
A representative for the owner, said:
"It is with great regret that we have had to withdraw our application - a decision we have not taken lightly."
"As we have consistently said, delays make this project increasingly difficult to deliver, and we have now reached a point where the regeneration is no longer viable in its current form."
"The scheme we had designed, and hoped to be building by now, was created for a 2016 market and is no longer fit for purpose in 2019, in the face of a depressed retail sector and subdued housing market. "
"Over the coming months, we will consider our options for the site and hopefully find a way forward that provides certainty for local residents and businesses."
The full press release from Wrenbridge reads:
Today (10 June 2019), the owner of Bircherley Green has decided to withdraw the planning application for phase two of the regeneration project.
Phase two was due to deliver a new shopping street, a riverside public square with cafes/restaurants, and new homes on the upper floors. The bus station and the multi-storey car park were to be retained and upgraded as part of this phase.
The application also included the conversion of a small number of already-approved homes into office space.
The decision to withdraw the application was based on several factors, including ongoing delays in the planning process, the downturn in the retail sector and a slowing property market.
The development partners will now reconsider the future of the site.
This action does not affect plans to build a hotel as part of phase one of the project. Discussions with EHDC will continue in regard to this application, which we hope to submit shortly.
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