Developer vows tallest tower in Plymouth will be built
THE developer behind stalled plans for a £55million city centre skyscraper has insisted it will be built.
Lawrence Butler, boss of Devington Homes, said he still needs to raise the finance to construct the enormous Oceanique project at Derry's Cross.
At 365 feet tall the building will be more than twice the height of the 174ft, 14-storey Civic Centre – making it the tallest tower in Plymouth.
Despite the project, first announced five years ago, being hit by the credit crunch, Mr Butler confirmed he is in talks with potential backers and is confident the project is on course to go ahead
He said: "We are on the case and will be building it, and work on it every day."
He added: "I'm not sure if we will start on it this year, probably the spring of next year."
Work was originally due to begin on the 500,000sq ft, 32-storey tower plan in 2009. The project, which would include two hotels on the former Foot Anstey/TSW site, will take up to three years to complete once work starts.
Mr Butler confirmed plans had not changed with it still planned to include a 170-bed four- or five-star hotel, another hotel with 140 beds, and 253 student bedrooms in the development which will include commercial space, featuring shops, cafes and a restaurant.
Mr Butler, speaking to The Herald from Spain, said he is in talks with different sets of potential backers about Oceanique.
"What has affected our plans is raising the finance," Mr Butler told The Herald. "These days it's difficult to raise funds."
But he insisted talks were on-going and said: "It's a question of talking to several funders – it's a question of which one to go with.
"We are negotiating so we have the best terms."