A part completed mixed use development overlooking South Beach in Tenby – Waters Edge – has been sold for more than £1 million to developer, ButlerWall Homes by Trevor Binyon and Tim Dolder of Opus Restructuring, the Administrators of South Beach (Tenby) Limited following a highly successful marketing campaign and negotiations by Bilfinger GVA.
The sale covers the final remaining apartment within the first phase of the development and phase two, which comprises ten apartments completed to steel frame level.
The Waters Edge site is a 1.1 acre plot to the south of Tenby town centre accessed from Battery Road, overlooking and adjacent to South Beach with excellent views out to sea and across to Caldey Island. Built on the former Fountains Café site, the ground floor is occupied by the South Beach Bar & Grill, adding to the vibrancy of this exclusive scheme.
James Petherick, Associate at Bilfinger GVA commented: “This site is in an amazing location quite literally a stone’s throw from beautiful South Beach. It has lain dormant for some time and completing the sale to ButlerWall Homes should enable the completion of this fantastic scheme, improving the aesthetics of the sea front.”
Administrator Trevor Binyon said: “We were pleased to have achieved such a positive outcome to this unfortunate failure. The lender has been repaid in full and we have been able to limit the losses suffered by what luckily were very few local creditors. In the process we also secured the future of the iconic Festival of Britain beacon which is located on the site.”