Development firm behind series of stalled schemes to shut down

A development firm behind a number of stalled schemes in Liverpool is to shut down.

The Liverpool Echo is reporting that Primesite Developments has announced it will shut down after a number of projects have been completed.

Primesite is behind the Strand Plaza Apartments, the Herculaneum Quay tower in Dingle – and the Rise site on Low Hill.

Managing director Kerry Tomlinson said once the Strand and Herculaneum have been completed he will put the business “into a box and tie a ribbon around it”.

The announcement comes a week after it emerged work has come to a halt at the £40m rise scheme.

Mr Tomlinson said: “I have no appetite to continue to try and present Primesite Developments to lenders when it’s clearly had significant issues.

“So we will be finishing off Herculaneum Quay, we will be finishing off Strand Plaza and endeavouring to finish off The Rise.

“Once that is all done, then we will quite simply put that development company into a box and tie a ribbon around it.”

The Rise hit problems when Amicus, the firm funding the scheme, went into administration.

And work stopped on the Herculaneum when Mr Tomlinson’s previous firm Herculaneumco went into administration.

Mr Tomlinson said Primesite had been “significantly set back” by “failing to attract correct funding streams.

He added: “The administration of Herculaneum Quay was a significant enough event for us to be less attractive to incoming funders. I have no intention of flogging a dead horse.”