Legal delays have held up three of Morgan Ashley’s extra care facilities, but one of those has now reached financial close and bosses are working hard on getting the other two across the line
One of PLC’s () long-awaited extra care facilities has reached financial close after months of legal delays.
The 54-apartment building in Romsey was built by Morgan Ashley – the company’s joint venture with .
The financial close comes after lengthy legal delays, which have also affected two of the joint venture’s other schemes.
Management “continues to work hard” to wrap up those other two delayed projects, which are expected to close “over the coming months”.
“As previously advised, the delays have had an impact on the cash inflows to Ashley House and the company is continuing to explore a number of sources of funding whilst managing its cash carefully.”
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