Canalside developments hit the buffers

Published: Friday, 09 October 2009

IT WAS only a few years ago that canalside developments were the great money-making endeavours for many developers, but most have fallen by the wayside.

In one city alone—Leeds, of seven separate key projects, only two have managed to get developed as planned, before the credit squeeze took hold, the rest being scrapped. A massive 3,000 homes regeneration plan for a waterside village on the West of the city has failed.

Another plan to build twin residential towers due to create the city's tallest building, also came to an halt as the main developer went bust.

The 800 homes Green Bank development was never started as money could not be raised. The picture shows an artists' impression of the development by the Leeds & Liverpool Canal.

Commercial waterside development too has halted, with the idea to create a massive redevelopment of the area along both the  Aire and the Leeds & Liverpool Canal that was populated by abandoned factories and warehouses, coming to nought.

New premises have been built, such as those on the old Monkbridge Foundry, but most of the buildings remain empty.

Of five massive buildings planned offering a staggering 600,000 sq ft of space, only one has been built, but only a small part of it is in use.