Page last updated at 14:53 GMT, Wednesday, 16 September 2009 15:53 UK

Pavilion revamp scheme scrapped

Weymouth Pavilion
The plans included refurbishing the Weymouth Pavilion Theatre

Plans for a £135m redevelopment of Weymouth Pavilion and ferry terminal have been scrapped.

The scheme was expected to create 400 jobs and included a hotel, refurbished theatre, marina berths, and new flats.

The plan stalled when developer Howard Holdings went into liquidation and now funders Europa Capital have pulled out despite spending £5m on the plan.

The pavilion will remain open while Weymouth and Portland Borough Council decides its next move.

It had been hoped the development, which has been in the pipeline since 2004, would have been ready in time for the 2012 Olympics when the sailing events will be held in Weymouth and Portland.

Councillor Mike Goodman said: "It is frustrating for the people of Weymouth and Portland.

The market is so severely depressed for residential and small retail we would be foolhardy to enter into any contracts right now
Councillor Mike Goodman

"The recession has come at the wrong time for us.

"We were hoping to present a new complex at this incredible site."

The council will continue to run the pavilion and look to reduce an annual operating deficit of about £500,000.

But Mr Goodman was still confident about the future of the site.

He said: "We will wait to see what the market holds and what opportunities come up, but we are certain we will produce a wonderful site for the 2012 Olympics.

"The market is so severely depressed for residential and small retail we would be foolhardy to enter into any contracts right now, the market must come back before then."

Europa Capital said it had "worked hard" alongside its partners and the council to "try and make this work".

But the project was not viable due to the "depressed nature of the economy and the housing market".

Advertisement

Weymouth and Portland Borough Council hopes for future investment



Print Sponsor


SEE ALSO
Legal action over 135m pavilion
19 Feb 09 |  Dorset
Pavilion plan thrown into doubt
28 Nov 08 |  Dorset
Seafront gateway plan unveiled
18 Jul 08 |  Dorset
Pavilion revamp plans announced
10 Oct 06 |  Dorset
Olympic roadshow visits Weymouth
14 Jul 06 |  Dorset

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific