Lumiere Leeds K W Linfoot development put on hold

[Offplanpropertyexchange]

Lack of available finance has put the Lumiere development in Leeds on hold. This is disappointing as the building was to be the tallest skyscrapper iin the country. KW Linfoot the developer said it had not cancelled the 992-apartment scheme and, because the proposals could yet proceed at some point, would not be paying back any deposits. KW Linfoot had managed to sell around 80 per cent of the homes offplan.
Since then construction work has started on the first phase of piling – meaning the decision to mothball the scheme will leave a just a 0.3ha hole in the city centre.

[bubble]

This is the first of two building developments that have been put on hold in the city centre, indicating that the economy and development is now feeling the effects of the global economic problems. There is also a shopping centre in Bradford that has ceased development, because they cannot get enough companies to rent the stores.