For many it will not come as a surprise, but all work on the Leas Pavillion site has come to a halt. The site is owned by Leas Pavilion Development Limited. They purchased the site in May 2021, for £4.3m. The site commenced in 2022, but has been under severe financial strain due to construction costs and interest rates rising significantly.
In the last week the PR agency – Fabrick, run by David Ing, who is working with the company building out the Leas Pavillion, said in a press release the site has come to a temporary “pause pending some approvals“. The press release goes onto say “once pending approvals are satisfied, works will fully commence on the renovation’s next crucial phase.“
Yet sources inside the Council have stated there are: “no undischarged conditions which would necessitate the closing down of the site“.
Utility suppliers have also made it clear they are not holding up the site.
Now back in July 2022, we made it clear one of the companies financing the Leas Pavillion was based offshore.
In March 2022, Oliver Daelemans (pictured) who owns 50% of the Leas Pavilion Development Limited; which is building out the Leas Pavillion said:
‘We’ve sold 20 apartments, and there are more people in the queue to sign up. I really want to get, how do you say it ‘cracking on”.
How true Mr Olivier Daelemans statement was at the time, we cannot say.
The site was first bought by Churchgate Ltd on the 6 May 2008, for £3m. It was sold to the Leas Pavilion Development Limited for £4.3m on the 14 May 2021, according to land registry documents.
According to a variety of sources, the Leas Pavilion Development Limited is looking to offload the site as spiraling costs mean they are not be able to finish the project as per planning application 20/0563/FH.
We have approached the PR Agency – Fabrick, who are working for the company building out the site for comment on this. We will publish any comment we receive from them.
The Shepway Vox Team
Dissent is NOT a Crime