A property company has said it's committed to delivering a 525 apartment scheme that has secured over £15m from investors.
The Sourced Development Group (SDG) is behind the Regent Plaza scheme off Regent Road in Salford. The company, based in Widnes, has several sites in Liverpool including a major scheme on Blackstock Street on the edge of the city centre.
Photographs taken at the Regent Plaza site earlier this week showed the scheme is far from completion. Around 12 men could be seen on the site on the day the photographs were taken.
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SDG have sold out the 525 unit scheme. The company said they had accepted around £15,617,477 and spent around £29,487,799.50 on the site so far.
The site consists of five blocks, one of which is set to be completed in January. A spokesperson for SDG said that the scheme had been delayed due to problems with the supply of brickslips ( a type of brick). The company, headed up in the UK by Joanne Karen Waller, also said that the global pandemic had pushed the scheme back.
A spokesperson for SDG said: "We purchased the site in July 2019 for £13,750.00 with our own funds. We had started on site and are self delivering through Sourced Construction Group as the principal contractor. We have completed Block B internally and this is set for handover in January 2023. This has been delayed due to the brickslips being delivered from Germany and supply chain issues.
"The original construction dates were pushed back because of the global pandemic. We got back on site as soon as practically able and with many industry leaders falling into financial ruin we have continued to fund the development without development finance and the progress has been steady.
"Groundworks are being carried out around the area of block B in readiness for handover to tenants in January whilst there have been over 100 men on site at various times as the trades are now complete internally there is only the groundworks package and brickslips to go on block B so this is not required.
"Block C is having the SFS ( steel framing systems) and lift shafts worked on at the moment and mast climbers will be installed within the next coming weeks as have been awaiting climber the bases to go in, all progress is noted on Instagram and monthly construction reports are issued to all purchasers."
"The internal works of block B are completed and fully commissioned, tested. There are now only external groundworks (landscaping and paving) and brick slips to be finalised on Block B.
"Accordingly, hundreds of workers are not required at this stage of the phased development, but there have been, and will continue to be, various stages when a large subcontractor presence is required in line with the JCT.
"All purchasers are kept fully informed of the construction progress via monthly reports and the public at large has access to social media accounts and the website which also detail the stages and progress of construction.
"The development is delayed but there are no underhand reasons for this – namely the pandemic, delays in supplied, the principal contractor going bust. SDG are a small company and are self-financing most of this work."
