Blackpool Council have announced the termination of a contract with Nikal Ltd. after the investor has gone into administration and is searching for new investors for the region
Nikal Ltd. had been working with the Council since 2016 on the Blackpool Central development, which includes indoor theme parks, hotels, and restaurants.
However, in October, it was announced that the company had gone into administration.
Blackpool Council is now seeking new investors to continue the work in the Central Station area.
The first stage of the transformation project was completed earlier this year
A huge 1,306 multi-storey carpark was opened in the area earlier this year, marking the completion of the first phase of the project. DMS Demolition has also been appointed to demolish the old police station, municipal courts, and the old joke shop located on Central Drive in 2025.
The development is located near the Blackpool tower, by the promenade and with a direct route from the motorway to the new multi-storey carpark.
The Central site was home to the former busiest train station in the world, stretching over 15 acres. The site is intended to be in the thick of the visitor economy, and adding to the town’s famous leisure attractions.
Government grants are supporting the Blackpool Central Development
Government grants covered the multi-storey carpark along with the old agreement with Nikal Ltd, ensuring private sector investment.
Nikal’s land agreement allowed Blackpool Council to receive £4.5m in support for council finances and local services, as well as the land receipt and the option for the Council to buy the multi-storey carpark sometime in the future.
The agreement leaves most of the land to Blackpool Council as well as protecting finances, and the taxpayers’ money.
International marketing is also planned to receive investment for Blackpool, in the new year.
Councillor Lynn Williams, leader of Blackpool Council, said: “Blackpool Central sits right at the heart of our plans to make Blackpool better for everybody. We’re committed to attracting a world-class leisure development that creates jobs for our local people, extends our tourism season to be all year round and supports our local economy to grow.
“In the last five years at Blackpool Central, we’ve made more progress on this site than the 50 years before it since the Blackpool Central train station closed in the 1960s, largely paid for by the private sector without risking council tax payer’s money.
“The road to regeneration isn’t always smooth but we will not stand still. We will continue our plans to demolish the courts and the police station early in the new year in order to create a shovel-ready site for a new leisure attraction.
“We have very high standards for the type of attraction which this site needs and any future scheme will have to match those ambitions. To deliver on that we need serious investors and we will be heavily marketing this opportunity to get that international calibre of attraction.”
