MEPC has pulled out as funding partner of Swansea’s 36,045 sq m (388,000 sq ft) Castle Quays development at the eleventh hour.
The developer has issued a statement saying that the scheme ‘does not meet our financial requirements’ following a detailed review by the company.
Simons Estates remains the council’s selected developer and is in discussions with new funding partners. A meeting is taking place this morning between the council and its advisors Donaldsons to discuss the way forward for the development.
Last year, MEPC pulled out of a £115m deal to buy Legal & General’s Cleveland Shopping Centre, in Middlesbrough.
Hartnell Taylor Cook and Blair Kirkman are joint letting agents on the scheme.
EGi News 03/02/00
