Developer pulls out of retail and leisure scheme

Henry Boot Developments has pulled out of a deal to build a new retail and leisure scheme in Daventry, saying market conditions have made the project “unviable”.

Daventry District Council (DDC) confirmed that its partnership with Henry Boot, to develop The Oaks retail and leisure development on the edge of Daventry town centre, will “not be able to meet their joint objectives”.

The Oaks development included proposals for food stores, shops and a hotel on land at the Waterloo, Gasworks and Chaucer Way area of Daventry. The Council says it “remains committed” to improving the town’s retail offer and will now explore alternative ways to deliver this.

Vivienne Clements, director at Henry Boot Developments, said: “Despite our very best efforts and a great deal of investment, we have been unable to move this scheme forward. While interest from national retailers has been encouraging, market conditions and infrastructure costs have unfortunately made the scheme unviable. We have parted ways with Daventry District Council on good terms and wish them well for the future as they seek to bring the site forward in a form that best serves the community.”

Councillor David James, DDC’s Portfolio Holder for Economy, Regeneration and Employment said: “The Council recognises the substantial investment made by Henry Boot and regrets that this partnership will need to come to an end. However, we do have a range of stores who want to come to Daventry, and the Council will explore how best to make this possible. Henry Boot has offered the Council use of the information it gathered during the time it was working on the scheme, which shows a spirit of partnership even as this relationship ends.

“In the meantime, the Council’s work on the cinema and restaurants at Mulberry Place will press on.”