Nikal Ltd - company behind Blackpool's £300million regeneration project - files administration move

Manchester-based developer Nikal Ltd has a key role to play in delivering the much-vaunted Blackpool Central project, aimed at creating a world-class leisure destination off the Golden Mile.

Proposals have included plans for two indoor theme parks, a 1,300-space car park, a 127,000 sq ft flying theatre, 70,000 sq ft public square, new hotels, restaurants and swanky apartments.

So far, the new car park has already been completed and is now in operation but other elements are at an earlier stage.

Nikal has been working with Blackpool Council on the project, which is the biggest regeneration scheme for the resort in more than a century.

Up to 1,000 new jobs are expected to be created, with an estimated 600,000 additional visitors to come each year, with the annual spend in the town boosted by £75m.

The 17 acre area earmarked for the scheme includes Blackpool’s Magistrates courthouse and the former Bonny Street police station, which has been empty for several years and are both due to be demolished next year.

But on October 16, Caseboard - the online site which includes the latest Chancery and Kings Bench court proceedings - listed Nikal Ltd’s application for Notice of Intention to appoint an administrator.

Nikal is also the developer behind Birmingham's landmark £350m Exchange Square project, A Blackpool Council spokesperson said: “We have been working on the enabling phase of Blackpool Central over the last few years. The new multi-storey car park opened earlier this summer and we are currently completing preparations to demolish the old police station and courts building early in the New Year.

“We had been negotiating with Nikal on how they would deliver the next phases of leisure and accommodation, and will speaking to them to understand how this news affects those plans.

“We still have a clear commitment to deliver Blackpool Central and will be considering our next steps to progress it.”

Nikal Ltd has also been approached for a comment.