Wolverhampton and Chester Town Centre Schemes on Hold
December 2009
The current recession has led to major town centre redevelopment schemes and related CPO’s being postponed or cancelled.
Edmund Kirby have been advising clients affected by ING’s Chester proposals and Multi Development’s Wolverhampton Scheme. The Chester scheme has simply stopped, leaving property owners blighted and damaged by loss of tenants and business. These clients are reviewing their positions but do need to protect themselves from the damage that can flow from schemes being promoted and then being found to be undeliverable. In Wolverhampton, where Edmund Kirby successfully argued for the removal of a client’s department store from the scheme, the large Summer Row scheme has been suspended and is proving difficult to ascertain how and when it might move forward.
