Work on a new multi-million pound hotel development in Southampton has been put on hold by developer Ocean Village Resorts (OVR) due to the current economic downturn.
The £60m scheme, which was given the green light by Southampton City Council (SCC) planners in July, includes the 13-storey, 224-bedroom Millennium Ocean Village Hotel and a waterfront events piazza.
Other facilities incorporated in the development include a restaurant, a cafe bar, a spa and health suite and a conference and events floor, as well as a marina control centre.
Tony Keeler, chief executive of OVR, said: "This decision to defer has come about as a consequence of the current deteriorating economic conditions in these uncertain times.
"We will continue to monitor and review this decision and it is anticipated that at some point in the future we will be in a position to recommence works on the project.
"Ocean Village remains a priority for the company's development plans and work behind the scenes will still continue. The planning and design phases of the hotel development have been successfully completed."
SCC's cabinet member for economic development, Royston Smith, said: "Businesses, developers and other investors throughout the UK are finding it difficult to raise funding – due to the impact of the cautious behaviour of funding institutions and with the temporary glitch of credit drying up.
"But there is continued confidence in Southampton and the city council will continue to work with developers and their partners to support their development schemes."
Work on a new multi-million pound hotel development in Southampton has been put on hold by developer Ocean Village Resorts (OVR) due to the current economic downturn.
“We want our future sports centre to act as a co-location for health and wellbeing services, furthering our connections with GP referrals and digital health platforms”
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and PT management for clubs and instructors.
Active Reality, a leader in Virtual Reality Freeroam Esports Arenas and GLL, the UK’s largest
operator of municipal leisure centres, have today (3rd May 24) announced an innovative new
partnership that will see a national roll out of gaming technologies within leisure centres
across the country.
Work on a new multi-million pound hotel development in Southampton has been put on hold by developer Ocean Village Resorts (OVR) due to the current economic downturn.
The £60m scheme, which was given the green light by Southampton City Council (SCC) planners in July, includes the 13-storey, 224-bedroom Millennium Ocean Village Hotel and a waterfront events piazza.
Other facilities incorporated in the development include a restaurant, a cafe bar, a spa and health suite and a conference and events floor, as well as a marina control centre.
Tony Keeler, chief executive of OVR, said: "This decision to defer has come about as a consequence of the current deteriorating economic conditions in these uncertain times.
"We will continue to monitor and review this decision and it is anticipated that at some point in the future we will be in a position to recommence works on the project.
"Ocean Village remains a priority for the company's development plans and work behind the scenes will still continue. The planning and design phases of the hotel development have been successfully completed."
SCC's cabinet member for economic development, Royston Smith, said: "Businesses, developers and other investors throughout the UK are finding it difficult to raise funding – due to the impact of the cautious behaviour of funding institutions and with the temporary glitch of credit drying up.
"But there is continued confidence in Southampton and the city council will continue to work with developers and their partners to support their development schemes."
Work on a new multi-million pound hotel development in Southampton has been put on hold by developer Ocean Village Resorts (OVR) due to the current economic downturn.
“We want our future sports centre to act as a co-location for health and wellbeing services, furthering our connections with GP referrals and digital health platforms”
Imposter syndrome about a promotion taught the
CEO of SATS that behaving authentically is the most
important part of leadership. He talks to Kath Hudson
As more people join clubs to support their mental
health, fitness professionals need to be empowered to
take a holistic approach. Kath Hudson shares useful
tools discussed at the ACE summit on mental health
Now mental health is the number one reason for people to join a
health club, do fitness professionals need a grounding in counselling
to offer a more holistic service? Kath Hudson asks the experts
Industry suppliers are responding to the exponential increase in
consumer demand for strength training with a raft of new and
innovative launches and concepts, as Steph Eaves reports
Members are telling us they need support with their mental and spiritual health and the industry is starting to see this need. Now’s the time to fast-track our response
Complaints about group exercise have become a thing of the past for the Reynolds Group
thanks to its partnership with CoverMe, a digital platform that simplifies group exercise
and PT management for clubs and instructors.
Active Reality, a leader in Virtual Reality Freeroam Esports Arenas and GLL, the UK’s largest
operator of municipal leisure centres, have today (3rd May 24) announced an innovative new
partnership that will see a national roll out of gaming technologies within leisure centres
across the country.