Administrators move in to major housing development
A CORBY housing development which stalled during the recession has hit more problems after the developers went into administration.
David Soden and Phil Bowers of Deloitte have been appointed as administrators to Bela Partnership and Corby Developments, which are the landowners and developers of Priors Hall Park.
The 1,000 acre site is split into three residential phases and has outline planning permission for more than 5,000 homes.
A spokesperson for Priors Hall Park said a new investor was being sought “who can continue to deliver the vision”.
They added: “The appointment of administrators is purely a restructuring of the site operations and it’s very much ‘business as usual’ at Priors Hall Park.
“The focus is now on opening the community centre and progressing designs for the new village retail centre, with local shops and amenities.”
The estate management company, Priors Hall Park Management, continues to operate as normal and is unaffected by the administration. Residents will continue to benefit from the estate services.
Around 600 homes have already been built at Priors Hall Park, with around 200 built up to 2010, when building stalled, and the remainder since work restarted three years ago.
The Priors Hall Primary School for 420 children opened at Priors Hall Park in September, adjacent to the Sir Norman Foster designed Corby Business Academy, which opened in 2008.
A further 1,000 homes are to be delivered by national housebuilders, including Barratt Homes, David Wilson Homes, Taylor Wimpey and Francis Jackson Homes in the coming two to three years.
