Another waterside development goes bust

Published: Friday, 05 March 2010

FAILING to obtain a bond from the developers of a 'prestigious' waterside development, Wakefield taxpayers are left with a big bill after the developers went bust.

Readers may remember the grandiose plans for the side of the Aire & Calder Navigation, by developer Waterside (Wakefield) Ltd, for £30 millions waterside flats, but like many before, it did not allow for the lack of demand owing to the depression. Alan Tilbury reveals.

Foot the bill

So council tax payers in Wakefield will have to foot the bill  for expensive highways works that were completed to create access to the development.

It is in the hands of the liquidator, who has confirmed there is no prospect of creditors getting what they're owed, though the council has seemingly learnt its lesson as procedures have been reviewed to stop future works starting without a bond being in place.

The council has been chasing the unpaid invoices of February and March 2007.