Elliot Group has acquired the largest of the sites formerly owned by collapsed developer North Point Global (NPG).
The part-built scheme on Pall Mall is set to be demolished and replaced with a mixed-use development.
The site is across the road from Elliot Group’s ‘triple tower’ Infinity project and according to the firm’s director, the purchase will allow it to “bring a critical mass of quality to the area which will seal its position as the prime zone for the northern expansion of the city centre”.
The failed NPG scheme had planning permission for 366 homes and work on its concrete frame was extensive before its promoter went into receivership.
A planning application for Elliot Group’s new vision is expected in the second quarter of 2019.
Lawless says: “It’s been a lengthy process to acquire the site and I’m delighted that we have succeeded.
“We intend to start afresh with a development that better suits the site and the market and I’ve instructed my architects to get cracking straight away.
“There was some merit to the [original] scheme as a piece of architecture, but we have in mind something much better which will create more jobs and infrastructure for the city.
“We hope to share our draft vision with stakeholders early in the new year. The first task, of course, is to make the site safe.”