Lend Lease quits Stockport regeneration project…

  Australian developer Lend Lease has walked away from the £500m regeneration of the Bridgefield area of Stockport town centre, according to Stockport council. Lend Lease was selected in 2006 as development partner for 650,000 sq ft of shops, a multi-screen cinema, 250 houses and 80,000 sq ft of leisure on a site adjacent to the M60.   Plans were scheduled to be submitted in July 2009.   However, Lend Lease, which has been struggling to raise funding for the 3,200-home Olympic Village in east London, notified the council that it planned to walk away from the project last Friday.   A Lend Lease spokesman said: “Lend Lease has committed significant time and resources to progress proposals for the redevelopment of Stockport’s town centre and it is with much reluctance and regret that we are not able to take this scheme forward.   “As a result of deteriorating and unfavourable conditions, Lend Lease will not be pursuing the development opportunity at Bridgefield.” Stockport’s Lib Dem council leader Dave Goddard accused Lend Lease of letting Stockport down after signing a co-operation agreement last July and “spending millions” on preparing plans.   paul.norman@rbi.co.uk