THE company behind long-awaited plans for 238 apartments and a 103-room aparthotel in town has revealed it is “considering if the market is right” to proceed with the £120 million development.
The latest update from Le Masurier regarding Les Sablons comes more than two years since permission for the development on Broad Street and Commercial Street was secured, following a controversial planning process that saw the plans initially refused.
Less than a year after the scheme’s approval, the developer highlighted that construction costs and interest rates had risen significantly since the application was submitted and stated that it was “considering” its next steps.
In November, the JEP asked if the situation had changed only to be told there was no update on Les Sablons at the time.
In the wake of further questions from the paper, Le Masurier chief executive Ian Slack yesterday said that “we are continually considering if the market is right to develop the site”, with future updates to be provided when possible.
