North Quay Weymouth Limited (NQWL) have failed in their contractual obligation to complete on the sale of North Quay. Therefore, Weymouth and Portland Borough council have taken the decision to rescind the contract.
The council exchanged contracts with NQWL in September 2016. NQWL was due to complete the sale in July, but declined to complete the sale by that time. Since then, the council has been in discussions with NQWL to secure the sale.
Reviewing options for North Quay
Cllr Jeff Cant, Leader of Weymouth and Portland Borough Council, said: “This is of course a great disappointment to all the councillors and officers who have worked so hard to complete this sale.
We will now look at other options for this flagship site. We remain committed to developing the north side of the harbour to support the town and the local economy.”