Yorkshire-based housebuilder Persimmon has pulled out of plans for 22 storeys of luxury flats at what was intended to be Leeds’ tallest tower (pictured).
Leeds developers St James’ Securities and Landmark Developments, who are backing the 30-storey tower planned for Bridgewater Place, overlooking Granary Wharf, put a brave face on the news.
Ken Morris, chairman of Landmark, said he “wasn’t concerned at all” by the move, and claimed that the partnership was close to securing another residential developer for the scheme. “We already have three other countrywide housing developers who are very keen to talk to us,” Morton added.
Final planning permission for the £80m scheme, which will also include eight floors of offices, cafes and restaurants beneath the residential element, was granted in July.
Persimmon denied that its decision had been caused either by the company being overstretched or by the terrorist attacks on the World Trade Center towers last week. The company said the move was a knock-on effect of its takeover of rival residential developer Beazer Group for £560m earlier in the year.
Regional chairman Chris Johnson said: “This decision is in line with what we told the City and shareholders when we took over Beazer – that we were looking to reduce the land bank from 58,000 to 50,000 plots.”
Persimmon said it would still press ahead with another 22-storey residential scheme, known as K2, in Leeds’ Albion Street.
EGi News 20/09/01
