Urban Splash to axe jobs

Urban Splash, the developer that transformed the face of inner city Manchester with its trendy loft apartments and offices, is to cut jobs in the face of poor sales.

The company, which made its name with high profile regeneration projects such as Manchester’s Tutti Frutti development, the

Vanilla Factory in Liverpool and the Rotunda in Birmingham, declined to reveal how many of its 280 employees face the axe.

The move raises questions about the future of the firm’s major projects.

Urban Splash currently has £130m worth of projects under construction across the country, including affordable housing schemes, offices, bars, restaurants and hotels.

In a statement today, the company blamed the “continued deterioration" in the UK economy. It said that despite a buoyant year end, sales in the first half year were “disappointing” but insisted its investment portfolio remains “resilient.”

It added: “The company has held off job cuts as long as possible however it is not alone in facing challenges as a result of wider economic circumstance.”

The firm has offices in Manchester, Liverpool, Bradford, Birmingham and Bristol.