Report this comment
  • "
    MrUpton wrote:
    Big Business losing money because of bad decision making..... get over it , it's a non story, How much profit has the company made in the Oh look 2013 - profit soar 63% to £70m .... yeah I'd be crying too. If it's the planning system that's the problem spend some of that £70 million in party donations to UKIP who will perhaps help change planning laws so we can keep up with housing demand.............. ..
    Nowt to do with planning system. They applied & agreed to planning requirements then decided they wanted to alter the build.
    Thought ukip were already bankrolled by big doners..."
  • This field is mandatory
  • This field is mandatory
  • Please note we will not accept reports with HTML tags or URLs in them.


  • Enter the above word in the box below

'We've lost £1.7 million on Horwich site before work has even started', claims developer

'We've lost £1.7 million on Horwich site before work has even started', claims developer

The Swallowfield Hotel site in Chorley New Road, Horwich

The Swallowfield Hotel site in Chorley New Road, Horwich

First published in News The Bolton News: Photograph of the Author by , politics reporter

DEVELOPERS say they have already lost £1.7 million on a mothballed site in Horwich - before building work has even started.

Redrow Homes is battling with Bolton Council to allow the firm to keep four of the proposed 42 flats set to be built at the former Swallowfield Hotel in Chorley New Road.

In a previous agreement in 2007, Redrow had agreed these four homes would be transferred to a social housing provider.

The group received planning permission in 2008 to build two three-storey apartment blocks, but had to abandon the scheme because of the economic crash.

Now, after months of wrangling with the council, Redrow say they will make a loss on the development, even if they do not hand over the four affordable units.

The firm has already written off £1.7 million. After meeting with planning officers, the company now says it wants wants to “get off the site” as soon as possible — and has offered a final sum of £50,000 towards affordable housing elsewhere.

In January, councillors rejected changing the condition, arguing that the economic recovery made it possible for Redrow to provide the affordable homes.

But in her report to the planning committee, which meets on Thursday, officer Helen Williams said house prices for apartments in Horwich are down around 20 per cent from 2007 and recommended councillors accept the new deal.

She added: “As Redrow are keen to start development on the site again and to ‘get off the site’ as soon as possible due to the costs incurred and being incurred, they are now offering an increased sum of £50,000 towards off-site affordable housing provision, rather than the £30,000 they offered in March.

“They maintain this is their final and highest possible offer, as any further contribution would eat further into their losses.”

If accepted, another grant of £10,000 will also be provided by Redrow for highways improvements.

Local Businesses

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree