Planning extension sought for Harry Ramsden’s site
RECEIVERS managing a major development site in Manchester have applied for an extension to planning permission.
The Water Street plot, on the former site of the Harry Ramsden’s fish and chip restaurant near Castlefield, was being developed by Aneel Mussarat’s Tower Gate Developments which went into receivership in December.
It had consent for 221 apartments, offices, shops and a 98-bedroom hotel but this permission, granted in 2007, lapsed last month.
Tower Gate’s backer on the scheme was the Icelandic bank Kaupthing Singer & Friedlander which has been in administration since late 2008.
Its administrators, Ernst & Young, appointed Nick Davies and Graham Oldfield of Lambert Smith Hampton as Law of Property Act (LPA) receivers on the scheme in December. At the time Mr Mussarat told Crains Manchester Business the bank had committed £56m but only £14m had been drawn down.
Mr Davies told TheBusinessDesk: “We are managing the asset to ensure it doesn’t decrease in value.”
Mr Mussarat also owns MCR Property Group which was forced to put part of its portfolio into LPA receivership by West Bromwich Building Society in November.
