Exmouth Splash developer facing problems in Swindon

“THE COMPANY behind the North Star multi-million pound development has moved to allay fears about its accounts.

Moirai Capital has a lease for the Oasis and the surrounding land with plans to convert the site onto one of the country’s leading leisure destinations.

However, the organisation missed an April deadline to file its accounts and has been contacted by Company House over the issue.

Should Moirai fail to respond to the letter, winding up procedures could be started later on in the summer.

But the company’s directors say the issue is being dealt with and the missed deadline was due to circumstances outside of their control.

Bobby Rach, of Moirai, said: “This is something which will be sorted within a few weeks. We are aware of everything and the letter is perfectly normal business procedure.

“We are a fully functioning business so there is no chance of the company being wound up.”

Moirai first took control of the lease in 2012, with the promise of refurbishing the Oasis and transforming the surrounding land.

The new leisure destination will have an indoor ski-slope, an arena, sport-related shops and a hotel as well as restaurants and a cinema.

An outline application was submitted last year and while there has been frustration at the length of time it is taking, Bobby says progress is being made.

He said: “When this is completed it is going to be a draw for the entire region. Getting these things right does take time but we should be able to reveal who has been signed up in the coming weeks.

“A lot of negotiation takes place as we have got everything right but when we have the details that should push the planning application forward.

“It could be that we are on site by next year. When we reveal everything this is something the people of Swindon will be able to get really excited about.”

The two areas which have held the application up is the signing up of partners to run the various parts of the development and the traffic management plan.

Highways England had initially said more work needed to be done to examine the impact the development would have on the town’s roads, most notably junctions 16 and 15 of the M4.

This has now been dealt with and the organisation have said the planning application can be accepted with conditions.”

http://www.swindonadvertiser.co.uk/news/14489657.Fears_over_North_Star_development_company_accounts__without_foundation_/

One thought on “Exmouth Splash developer facing problems in Swindon

  1. Perfectly normal business procedure? Perhaps in the circles Moirai moves in but not elsewhere. A look at Leisure Trading, which shares some personalities with Moirai Capital Investments, show that the Sept 2015 accounts were overdue and that it was dissolved via compulsory strike off on 1st March 2016. https://beta.companieshouse.gov.uk/company/09230210

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