A 550-acre site in north Lincolnshire has been put back up for sale after plans for a major residential and commercial development stalled at the planning stage.
Andrew Foster and Nathan Pask, who were appointed joint fixed charge receivers of the site in the summer of 2022, had initially entered into a 15-year joint venture agreement with Hargreaves Land for a residential and commercial development featuring up to 3,000 new homes.
The scheme would have also included a GP surgery with pharmacy and nursery, a food shop and a 65-acre employment park.
The site, which is located near Scunthorpe and forms approximately 50% of the wider Lincolnshire Lakes scheme, is now being marketed for continued agricultural use with the opportunity for vacant possession in September 2026.
Rob Cruikshank, associate director in the Leeds office of Watling Real Estate which has been appointed to market the site, said: “The receivers had hoped to facilitate the development of new homes, however, residential development now seems unlikely given the extensive delays in obtaining planning consent. The delays have increased holding costs for the receivers, reducing the forecasted return. The receivers are under an obligation to maximise net receipts from an appointment and therefore all disposal options are under review.”
