THE future of the multi-million £ “Wireworks” retail, office and leisure complex off Winwick Road, Warrington is back in the melting pot.
Prospective developers Modus have indicated they may be prepared to sell the site – but their asking price is too high, Town Hall chiefs have been told.
Consultants appointed in partnership with the North West Development Agency to provide valuation and acquisition advice had submitted their final report and there is a “clear gap” between any offer that could be made and the value that Modus require.
The Wireworks development – which includes a multiplex cinema – was chosen in preference to the redevelopment of the existing Time Square following a public inquiry last year.
But the “credit crunch” appears to have put a spoke in the project’s wheels.
A report to the borough council’s regeneration overview and scrutiny committee states: “The future of the Wireworks site has been discussed with Modus.
“They clearly have no viable development scheme.”
Other private sector investors are said to be seeking to acquire the interest in the site and are expected to report progress within a few weeks.
However, work is continuing on proposals to improve Central Station and the surrounding area to link it with the new Bus Interchange.
A design scheme is almost complete and, subject to planning approval, work could start in the Autumn.
Pictured: an artist’s impression of the original Modus plan.
