The future of a major Southampton regeneration project hangs in the balance after the property developer behind it collapsed.

Inland Homes, the company behind the Meridian Waterside development, appointed an administrator on October 17.

The property developer was in the midst of building flats at the River Itchen waterfront when it filed for administration.

Southern House, the last of the three new apartment blocks, stands incomplete as work has seemingly stalled.

Daily Echo: Southern HouseSouthern House (Image: Newsquest)

The half completed development remains shrouded in mystery but the company’s position is being ‘evaluated’, according to FRP Advisory who were appointed to oversee the process.

Speaking on the news, a spokesperson from FRP said: “Further to the announcement on September 27, David Hudson and Phil Armstrong of specialist business advisory firm FRP were appointed as Joint Administrators of Inland Homes Plc on October 4.

“The Joint Administrators were subsequently appointed to 19 subsidiaries of the Inland Homes Group on October 5.

“The Joint Administrators will now work to evaluate the company’s position.

“At this time, they have retained all 100 members of the company’s staff in order to assist with an orderly wind down and disposal strategy of the company’s assets.

“Interested parties are advised to contact for further information.”

READ MORE: Southampton retail park bought by property giant as part of £35m purchase

Work on Meridian Waterside, the site of the former Meridian TV Studios, began in April 2016.

Advertised as an ‘outstanding waterside setting in Southampton’ the development promised hundreds of new homes.

Daily Echo:

Ward councillor Jacqui Rayment hopes a solution is sought in order to tackle the need for housing in the city.

She said: “It’s always disappointing to hear companies going to the wall.

“With the need for housing in Southampton, I hope that there is a developer that can finish the job and build it so these properties can go on the market.

“We need housing in Southampton.”

Southampton City Council confirmed it does not own or have any contractual agreements in regard to the Meridian Waterside site but is in regular contact with the administrators.

A spokesperson said: “We understand that they are actively considering the options for completion of the remaining block and we will continue to seek updates on this.”