Leas Pavilion development partners go their own ways

On the 1 Sept 2024 we wrote the following blog

Leas Pavilion: Time to sell or liquidate.

One day later a Press Release by Gustavia who acted as the development manager for Leas Pavilion Development Ltd since 2019, parted ways with Leas Pavilion Development Ltd – who own the site.

The press release goes onto say:

Olivier Daelemans (pictured), personally has also resigned as a shareholder and director of Leas Pavilion Development Ltd. Gustavia and its team wishes Leas Pavilion Development Ltd represented by Mylecke NV every success with the development of Leas Pavilion.

However, according to Companies House UK, Mr Daelemans remains as a director and shareholder in Leas Pavilion Development Ltd

We wrote about Mylecke NV in our last blog, making it clear they have has assets of £120m. However, not all this will be cash, or liquid assets available for quick disposal to pay for the Leas Pavilion rebuild. As such we honestly believe, the company – Mylecke Nv – is not in a financial position to contribute significantly to the completion of the Leas Pavilion. Meanwhile in the real world, everyone can use their eyes to see that the site has not progressed, since we last wrote about it, in April of this year.

As we have said before, better sell the site to someone who knows what they are doing, rather allow it to rot and become a blot on the landscape.

The Shepway Vox Team

Dissent is NOT a Crime