Taylor Wimpey subsidiary Bryant Homes is pulling out of residential scheme The Botanic at New Islington, Manchester’s Millennium Community.
The scheme includes 200 apartments across two blocks, with a communal garden and ground-floor commercial space.
The Botanic was a key element of lead developer Urban Splash’s New Islington community – a 29-acre site to the east of the city centre, comprising over 1700 new homes, offices, a school, leisure space and a new water park.
Taylor Woodrow, as it was then, exchanged contracts to start on the development in 2007. The developer was predicting at the time that the scheme would be completed by mid-2009.
However, Eddie Smith acting chief executive of urban regeneration company New East Manchester, told EG: “Bryant are in the process of withdrawing from the site.
“It will come back into our ownership, and we will put it back out to the market when we believe the market is ready to absorb that scheme.
“New Islington will continue to be a major priority. We have spent £25m putting in a very exciting development platform and we want to ensure future phases come forward, albeit at a slower pace than we envisaged.”
New East Manchester is a partnership between
The Millennium Communities are seven environmentally sustainable communities introduced in 1997 by the government’s regeneration body English Partnerships – now part of the Homes and Communities Agency.
