Waterford Quays deal scuppered by lack of funds
The €500m urban regeneration project will go back out to tender after lead developer Falcon failed to secure the finance to proceed
The developer leading the Waterford North Quays scheme has blamed an inability to secure finance for the collapse of its deal to lead the project.
Waterford City Council pulled the plug last week when Falcon Real Estate missed a deadline to transfer €70 million as proof of funds to finalise the contract.
“We failed to get debt funding,” said Rob Cass, director of Falcon Real Estate, which had committed to put €355 million into the ...