An incomplete block of flats in a prime location on the River Itchen is for sale after months in limbo.
Southern House has stood incomplete after work at Meridian Waterside in Southampton stalled when Inland Homes called in administrators last year.
After months of uncertainty the building is now on the market with Savills for £7m.
The last of the three new apartment blocks will provide 104 one-, two- and three-bedroom apartments once complete.
Jonny Kiddle, director of Savills’ south coast development team, said: “Savills is instructed by the Joint Administrators of Inland Homes Plc to bring to market the part-built Southern House, for a guide price of £7m.
“This is the last building in the Meridian Waterside development, many of which benefit from exceptional views of the River Itchen and beyond.
“We are expecting this exciting opportunity to deliver quality homes in an established neighbourhood to attract interest from investors and developers alike, both locally and nationally.”
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The major regeneration project was precarious after Inland Homes – the company behind the work - appointed an administrator on October 17.
FRP Advisory was appointed to oversee the process and found the company had a colossal loss of £292.3m.
In a statement of affairs published in December last year, administrators also found Inland Homes had a deficit of £1.25m relating to the total assets available to unsecured creditors.
Inland Finance and Inland Lifestyle – two of the 20 companies within the Inland group – own the Meridian Waterside site.
Some of the flats are expected to be sold soon, while the freehold of the land is due to be sold in due course.
A spokesperson said: “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.
“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.”
Work on the site of the former Meridian TV Studios got underway in April 2016.
Advertised as an ‘outstanding waterside setting in Southampton’ the development promised hundreds of new homes.
Southampton City Council previously told the Echo it does not own or have any contractual agreements in regard to the Meridian Waterside site.
Speaking on the latest news, a spokesperson said: "We are pleased to see that the administrators for Inland Homes are taking the next steps in securing the future of the Meridian Waterside development and are hopeful that they will be able to find a developer to complete the scheme in the near future.”
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