Knightstone update

We’ve just received this statement from Knightstone:

“Soon after Knightstone’s selection as the City Council’s preferred development partner for the Carriageworks and Westmoreland House site in November 2013 we learnt that the private developer, Fifth Capital, had secured a legal interest in the site. Since then we have been closely monitoring their progress in drawing up redevelopment proposals in preparation to make a planning application.

“Knightstone is still very keen and committed to the project, working in partnership with the Carriageworks Action Group (CAG) and the Council to regenerate the site in a way that meets the Community Vision. Whilst Fifth Capital is targeting to submit a planning application in autumn 2014 we are currently in discussions with the Council about how we may progress our redevelopment proposals further if Fifth Capital’s planning application does not proceed.

“We will issue a further update in the autumn about our next steps and hope to agree on a way forward with the Council and CAG within the next few weeks.”

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