A buyer is being sought for the Shankly Preston as financial difficulties mean work has yet again stalled at the former post office on the Flag Market
project was set see the property converted into a 65-room hotel with bar, restaurant, wedding and events suite, and rooftop terrace.. Most recently, a launch date of summer 2021 was advertised.An update from administrator Michael Lennon has revealed the delays related to factors including Brexit, asbestos and Covid-19.
Mr Lennon said: “Significant delays to the development of the property occurred from 2019 as a result of Brexit uncertainty. Asbestos that was found within the building that needed rectifying and the Covid-19 lockdown measures that put a halt to all property development. “Activity resumed on the Property intermittently from June 2020 with the easing of the Covid-19 lockdown measures, for example, the roof extension was completed, and interior works were progressed.
“However, the company failed to make sufficient progress with building compliance matters, including the fire strategy continuing to not be agreed via building control despite positive site meetings with Preston City Council. Cladding was also an area that required attention.” Mr Lennon is hopeful a buyer can be found to complete the development, with a marketing exercise set to be launched.
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