A DEVELOPER has sought to reassure the community about the future of an under-construction development at the gateway to Pentire.

Stephens + Stephens states the One Pentire development in Pentire Avenue, which comprises 74 apartments, is 95 per cent complete and that works are continuing.

The concerns follow the company being taken to the High Court of Justice in London by Travis Perkins Trading Company over unpaid debts.

Founder Paul Stephens said the compulsory liquidation of Stephens & Stephens Developers Ltd, had forced the company to restructure.

It later materialised Mr Stephens is said to have paid tradespeople from a bank account that was under the control of the liquidators when the proceedings had already started.

Trades people have reportedly been issued with letters from lawyers asking for the money back.

Residents have now raised concerns about whether the One Pentire development will be completed.

Murray Johnstone, the chairman of Pentire Residents Association, said: “We do have concerns about the status of this development.

“As we understand, the developer is still Stephens and Stephens. But we have not had any communication from them or any of their associates.

“We would welcome an update on this prime location and gateway to Pentire either from them direct or from any partners they are working alongside.”

Sam Beilin from SBP Crisis and Risk Group, who is advising Stephens + Stephens, said: “The development is 95 per cent complete and finishing works are continuing.

“There have been multiple sales. I cannot tell you why people haven’t moved in, but it has nothing to do with the building.

“In terms of agency sales, this is constantly reviewed by my clients.

“The sales market is very slow in the area; my client is considering various options for the building which I am sure you will agree is far better in any event than what was there previously.

“The service charge budget is only at a provisional stage which is often the case with a new development such as this. The insurance premium is the premium charged by the insurance company not my client.

“There are snagging and finishing works continuing.”

A restaurant is due to open as part of the One Pentire development.

Applicant Adam Banks sought pre-application advice for a new restaurant with a commercial extraction fan at unit 1 at One Pentire.

Mr Beilin said: “When the restaurant operator is in situ, he will connect up to the extraction system including the chimney.”