By Gillian Ellison

Last updated at 11:47, Thursday, 05 July 2012

A MULTI-million-pound plan for a care home and housing complex at a derelict factory in Hensingham has fallen victim to the economic climate.

Had it not been for the recession, work on the Sekers site would have started by now, The Whitehaven News was told this week.

The £6million plans – which have outline planning permission – would have created 160 jobs. But Nottingham-based Pathfinding Commercial Ltd, which was planning to develop the demolished factory into a 58-bed care home and housing, says banks have closed their doors to developers.

However the company says it is still looking at options and hopes work will start on site in the next two years.

Managing director Jason Lucas said this week that the economic climate, particularly for housebuilders, has had a major impact on residential developments.

“The main problem is the lack of bank funding as the majority of high street banks have closed their doors on development finance,” said Mr Lucas.

They have had several enquiries about the site. “We are looking at several different options in order to conclude the development of the scheme... if it was not for the current climate, the site would have been started, local jobs created or safeguarded and much needed accommodation created.

“We are striving to find a solution to the current economic problems and we are positive that a start on site will be made within the next 18-24 months. Unfortunately we are in the hands of the banks and the sooner the government sorts them out the better.”

Coun Phil Greatorex, Copeland Council’s executive councillor for regeneration, said: “As a council we would welcome that site being brought back into economic use and we would welcome an approach by potential developers, as I am sure the landowners would, to take the site forward.”

First published at 11:12, Thursday, 05 July 2012
Published by http://www.whitehavennews.co.uk