Plans to build a £1bn new town on the site of a former power station on the Hampshire coast have been scrapped.
The Fawley Waterside scheme, plans for which were first submitted in 2019, was to deliver 1,500 homes and 1.1m sq ft of commercial development, creating a “Venice of Britain”.
However, the developers behind the project have scrapped the plans, saying the land between the New Forest and Southampton Water was not viable.
Planning applications for the site are being formally withdrawn and “a new future for the site will need to be determined”, said the developer.
“The decision to withdraw the applications has not been taken lightly but multiple assessments of the current scheme have shown it is not viable,” said the group. “Fawley Waterside will continue working closely and collaboratively with both New Forest District Council and The New Forest National Park Authority to consider the most appropriate development strategy for the site.”
Jill Cleary, leader of New Forest District Council, added: “We look forward to working with Fawley Waterside, and their newly appointed team, to consider viable alternative development options for the site that help us deliver on our corporate plan aspirations for people, for place and for prosperity.
“Recognising the freeport designation of the site, and the recently committed review of the New Forest District Council local plan, it is timely for us all to be able to consider how best this site can help to deliver benefits to the New Forest community, economy and environment”.
Fawley Waterside acquired the site from RWE npower in 2015. The company was founded and is managed by Aldred Drummond.
Drummond owns the Cadland Estate, which includes the power station site, and had received further finance from a syndicate of investors.
Send feedback to Samantha McClary
Follow Estates Gazette
