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Developer moves to ease rumours

PUBLISHED: 13:46 01 November 2008 | UPDATED: 21:41 05 July 2010

A DEVELOPER has moved to quash rumours in a Suffolk seaside resort about the future of a major housing project.

Speaking at Tuesday's meeting of Southwold Town Council councillors said that rumour was spreading that the redevelopment of the town centre area known as Tibby's Triangle has been 'mothballed' as a result of the credit crunch.

A DEVELOPER has moved to quash rumours in a Suffolk seaside resort about the future of a major housing project.

Speaking at Tuesday's meeting of Southwold Town Council councillors said that rumour was spreading that the redevelopment of the town centre area known as Tibby's Triangle has been 'mothballed' as a result of the credit crunch.

The 34-home development is a mix of apartments and houses in the much sought after seaside town. Located in the very centre of this popular resort, there are 18 two, three, four and five bedroom houses and six one and two bedroom apartments for sale.

Speaking after the meeting, town and district councillor Sue Allen said: “I was told that Tibby's Triangle was being mothballed.

“If the rumour is true then it raises concerns about as to when the town would get the Section 106 money it has been promised as part of the development. I believe that 24 of the homes need to have been sold before we can have the money released.

“It is a shame if the rumour is true as Hopkins Homes has worked hard with the council on this development.”

The developer has moved to reassure residents and potential buyers that the rumours are not grounded and the project is still going strong.

James Hopkins, executive chairman of Hopkins Homes, said: “Despite an undeniably difficult market, our new homes are still being bought across East Anglia.

“At Tibby's Triangle, in Southwold we are seeing good levels of interest from potential buyers, and are due to open a sales centre and show home at the development in the next few months.”

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