PLANS for a multi-million pound Co Tyrone race track are in doubt after the developers behind the project plunged into receivership.
The ambitious Lake Torrent project in Coalisland is due to host a World Superbike event next year, but according to Companies House, Manna Developments, who have brought forward the plans, went into receivership on October 22.
Planning approval for the first phase of the £30 million project, set to transform 163 acres of former clay pits into a international tourism and business hub, was granted in September last year, but development at the site stalled earlier this year. Speaking in June, David Henderson from Manna Developments said planning issues had delayed progress, but they were “still aiming for completion in 2019”.
“We had hoped to have progressed to this next phase by now but delays are not uncommon on a multi-million-pound project of this size and we are still aiming for completion in 2019," he said.
The Lake Torrent circuit had been due to host the World Superbike Championship for at least three years from 2019 following a deal between Manna Developments and Dorna WorldSBK Organization.
