Village News

Christmas Lights
Home » Hayle » Hayle Harbour » Hayle Harbour - North Quay » 210204 | Police object to major Hayle harbour development | The force wants the developer to pay for additional police resources » 240723 | Hayle property developer declared bankrupt

240723 | Hayle property developer declared bankrupt

Submitted by InYourArea and ... on Wed, 24/07/2024 - 11:06.

Hayle property developer declared bankrupt

Posted By Rashleigh MacFarlane on 23rd July 2024

By Rashleigh MacFarlane

The property developer who tried to turn Hayle’s North Quay into a luxury housing complex has been declared bankrupt.

Simon Wright, 57, has been ordered to hand over his assets to his largest creditor.

Work on the North Quay project stopped suddenly in February.  The 100-acre development is within a UNESCO World Heritage site.

Several other companies which had been relying on payment for work done at Hayle also went bust.  Total debts are thought to be around £135 million.

Administrators are now trying to complete the construction but have warned this will be a lengthy and piecemeal process, as and when funds become available.

The financial disaster at Hayle is a sobering reminder of what happens when developers overreach, particularly in a commercial environment marked by high inflation and high interest rates.

Cornwall Council is continuing to press ahead with its £230 million Pydar regeneration scheme in Truro, despite warnings that the project is not viable.

The ruling Conservative cabinet recently voted to give officials an additional £10 million to keep the Pydar scheme alive, even though all of that money will be spent on consultants and architects and none on construction.

Critics say the only commercial difference between the council’s project and the Hayle project is that County Hall can get its money from taxpayers.

The Pydar site remains a hole in the ground.

 

 

https://cornwallreports.co.uk/hayle-property-developer-declared-bankrupt/
https://archive.is/ffhF3
Doomed Hayle North Quay development through the years - in pictures February 2024
‹ 240606 | Collapsed North Quay development in Hayle to be completed | A new contractor been appointed to take project onupPA20/05161 | Approved with conditions | Reserved Matters application for the construction of 377 residential units; 598 sqm reta ›

Book page

TitleCreated
2026-EXTENDED-17th April 2026 to 22nd April- Resurfacing Steamers Hill; Hatchs Hill; Angarrack Lane | 1 Apr 07:30 - 17 Apr 23:59 3 weeks 1 day agoBook page
2026-April-POSTPONED-planned improvements i.e. install footpath, paint double yellow lines junction Grist Lane Hatchs Hill 3 weeks 5 days agoBook page
2026 - Resurfacing Steamers Hill; Hatchs Hill; Angarrack Lane | 1 Apr 07:30 - 17 Apr 23:59 5 weeks 2 days agoBook page
250330; Closure order:30 Mar-17 Apr 2026; 07:30-17:00; Clearway Parking Zone; Hatchs Hill, Steamers Hill and Angarrack Lane 6 weeks 4 days agoBook page
Traffic/Roads - Marsh/Grist Lane - Traffic counts 2019 onwards 18 weeks 1 day agoBook page
Approved with conditions | PA25/07094 | First floor extension over existing garage to create Art studio with guest bedroom... 22 weeks 4 days agoBook page
PA25/07094 | First floor extension over existing garage to create Art studio with guest bedroom, covered parking area below | As 23 weeks 3 days agoBook page
251027 | 20mph Monitoring—Hayle & St Ives Speed Data; Phase 3a-May-Jun 24 v Sep-Oct 24; Steamers Hill; Gwinear;Carbis;Nancledra 27 weeks 3 days agoBook page
PA25/07184 | Retention of 4no. existing holiday pods, swimming pool, incidental building, extended driveway and annexe converted 27 weeks 6 days agoBook page
251009 | Stark reality of life in Cornwall revealed through 2025 Vital Signs Report 30 weeks 14 hours agoBook page
251010 | Cornwall backs 20mph rollout; St Austell's the only town to reject the plans 30 weeks 23 hours agoBook page
250930 | Cornwall’s 20 mph speed limits have made the roads much safer 31 weeks 3 days agoBook page
more