Land earmarked for the stalled £77m Angelgate residential scheme in Manchester has been put up for auction.
Developer Pinnacle (Angelgate) Limited went into administration last September.
Administrators Moore Stephens have been looking for developers to build out the original twin tower scheme which contained more than 300 apartments.
But no feasible proposals have come forward and the 0.79 hectare site on Dantzic Street will be put up for auction with bids invited of more than £5m.
Pinnacle (Angelgate) Limited had an administration order imposed on it by the High Court following legal moves by overseas investors.
Around 70 investors from South East Asia have paid more than £30m up front for flats in the scheme which has been the subject of complaints to Greater Manchester Police.
Pinnacle parted company with original contractor PHD1 in March 2016 over “performance issues.”
Work has been on hold since then and PHD1 went into administration weeks later.
Bidding on the land opens on April 23 here
from Construction Enquirer http://www.constructionenquirer.com/2018/03/19/stalled-angelgate-site-put-up-for-sale/
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