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20/03/2013
Ulster Bank Facing Possible £26m Lose
The collapse of a property company, who had been planning a major development in L’Derry, could cost Ulster Bank more than £26m.
GSB Guernsey had planned a supermarket for a 36-acre site at Crescent Link.
However, the environment minister rejected the plan last year and Ulster Bank placed the firm in administration.
An administrators report revealed the bank is owed some £32m, with the firms assets valued at £6m
The directors of GSB Guernsey Trading state that the Crescent Link site is worth about £5m while the firm's interest in another site in Banbridge, County Down, is estimated to be worth £250,000.
After the supermarket scheme was turned down at Crescent Link, Environment Minister Alex Attwood kept open the possibility that a revised "mixed use" scheme, including offices and health facilities, could still go ahead.
The administrator's report states that the planning process for that scheme will continue and that "an experienced planning advisor" has been appointed to manage the application.
(H)
GSB Guernsey had planned a supermarket for a 36-acre site at Crescent Link.
However, the environment minister rejected the plan last year and Ulster Bank placed the firm in administration.
An administrators report revealed the bank is owed some £32m, with the firms assets valued at £6m
The directors of GSB Guernsey Trading state that the Crescent Link site is worth about £5m while the firm's interest in another site in Banbridge, County Down, is estimated to be worth £250,000.
After the supermarket scheme was turned down at Crescent Link, Environment Minister Alex Attwood kept open the possibility that a revised "mixed use" scheme, including offices and health facilities, could still go ahead.
The administrator's report states that the planning process for that scheme will continue and that "an experienced planning advisor" has been appointed to manage the application.
(H)
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Good planning benefits economy and the environment
The economy and the environment can both be winners if we have good planning processes the Northern Ireland Minister of Environment Dermot Nesbitt has said.
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The economy and the environment can both be winners if we have good planning processes the Northern Ireland Minister of Environment Dermot Nesbitt has said.
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Northern Ireland WeatherToday:A cloudy day with a little light rain or drizzle at times, but some spells of drier weather too. The north coast may become somewhat brighter later this afternoon. Maximum temperature 11 °C.Tonight:Cloudy and patchy light rain will slowly clear away this evening. Then the rest of the night will be dry with broken cloud. Westerly winds freshening in the early hours. Minimum temperature 6 °C.
