Moorfields to build Xanadu in Lancashire
Tuesday 19 August 1997
The size of the proposed development, which will include an 80,000 sq ft hotel and retail complex on a 70 acre site between Liverpool and Manchester, dwarfs Moorfield's market value of under pounds 40m.
The proposition has yet to win planning permission or financial backing, but the consortium, which applied for planning permission yesterday, consists of a local developer, Greenbank Partnerships, Acer Snowmec, a subsidiary of Hyder, the Welsh water and electricity utility, and Wigan borough council.
Twin themes of the leisure complex will be skiing and aquatics, housed in a 1.5m sq ft domed building. It will contain an alpine village and a 375,000 sq ft skiing facility with a new kind of "real" snow, providing ski runs and snowboarding.
It will also have a 165,000 sq ft aquatics centre, featuring a 50m pool approved for competitions up to Olympic standard, and a leisure pool with indoor facilities. The aquatics complex has already been approved in principle by the Sports Lottery Evaluation Panel and the English Sports Council.
The complex will also include a megaplex cinema and a screen-based "virtual reality experience". Construction could start in 1999, and altogether the complex could create 5,000 construction jobs and 2,500 permanent jobs once the complex is up and running.
"Strong interest is already being expressed by major leisure and retail space users. As a result we are extremely confident of pre-letting much of the scheme while the proposal goes through the planning process," Marc Gilbard, Moorfield's chief executive, said yesterday.
The project was also welcomed by the leader of Wigan council, Mr Peter Smith, who said: "Xanadu will send out a positive image of the borough, a location where the unexpected can and does happen."
Moorfields made a profit of pounds 59,000 last year under its new management led by Mr Gilbard and Graham Stanley, two former property analysts at Goldman Sachs, whose ambitions are to shake up the UK property sector. It unsuccessfully attempted to take over its bigger rival Greycoat last year with an all-share offer worth pounds 214m.
The shares were unchanged at 26p yesterday.
- 1 Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
- 2 Art Garfunkel calls Paul Simon a 'monster' with a Napoleon complex
- 3 Woman accidentally shoots herself in the head while posing for a selfie
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
Woman accidentally shoots herself in the head while posing for a selfie
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...