THE proposed multi-million pound redevelopment of the Royal Pier in Southampton has collapsed.

Port bosses abandoned plans for a prestige waterfront development featuring bars, restaurants and at least 1,000 flats.

An ambitious vision for a multi-million pound residential and leisure development rising on the pier and land reclaimed from the seabed, opposite Mayflower Park, now lie in tatters for a third time in two years.

Months of high level meetings between Associated British Ports and major developers now appear to be a waste of time as it was announced nothing had been agreed.

Port director Doug Morrison said it had been a painful process, but the proposal, worth several hundred million pounds, would not have made enough money to be viable.

The major stumbling block was the £20m cost of land reclamation to secure the future of the Southampton Boat Show. The prestige event was in danger of being left homeless as West Quay Phase Three is due to rise on land relied on by organisers.

Instead, the remains of the pier will now be demolished to make way for new berth moorings to accommodate more boats in the water during the ten-day event. ABP also extended the boat show's licence to use the waterfront at berth 101 indefinitely.

The announcement was a major blow for Southampton City Council who regarded the pier and park as the flagship project in its dream of reconnecting the city with the waterfront.

Councillor Royston Smith, Cabinet member for economic development, said the fact the proposals were not going forward was a disappointment, but securing the future of the boat show was a positive outcome.