£450m Crest Nicholson project in Bath put on hold

A £450m mixed-use development in Bath, where Crest Nicholson is lead developer, has been put on hold.

The Western Riverside Development at Midland Road, Twerton, has plans to include: 2,281 residential homes and apartments; 675 student bedrooms with communal areas or 345 student bedrooms; a primary school; local shops; a restaurant and other community facilities.

However, the scheme has now been postponed.

Chris Tinker, Group Board Director of Crest Nicholson, said the delay was due to Section 106 negotiations with Bath and North East Somerset Council and the continuing uncertainty in the housing market.

He said: "Discussions on the revised Section 106 obligations which would enable Crest Nicholson to commence development have commenced and are anticipated to be concluded within the next three to four months.

“Crest Nicholson remains committed to the redevelopment of Bath Western Riverside. As soon as the macro economy stabilises and liquidity returns to the mortgage market we will seek to commence delivery.

"In the meantime, in conjunction with the Local Authority, we are re examining the phasing of the scheme in order to bring forward a greater mix of houses and apartments in the early phases”.

A spokesman for BANES said that none of the other facilities on the site would proceed without the housing element.