Belfast Telegraph

Collapsed developer's road bond used to finish Larne estate

by margaret canning

Work on a housing estate in Co Antrim is to be finished by a government department using a road bond after the developer went bust.

Although the houses in the Lindara estate in Larne are mostly occupied, the roads, footpaths and utilities were not finished after house builder Eassda went into administration in 2009.

Now the Department for Regional Development has announced it will use the road bond put up by the developer to finish the work through Roads Service and NI Water.

At £500,000, it's understood to be the biggest call on a road bond by Roads Service.

Regional Development Minister Danny Kennedy said: "Following the unfortunate financial collapse of the developer, funding to complete the utilities in Lindara will be entirely drawn from the developer's road bond.

"The bond is a vital requirement within a development contract and is included to safeguard the public purse.

"In this particular case the residents in Lindara will directly benefit. Over the coming months they will see Roads Service and NI Water complete the very significant amount of work required in the estate.

"The entire scheme, in three separate phases, should be completed towards the end of November," he added.

Belfast Telegraph