A LEADING developer has pulled out of the running to regenerate the former Randalls Brewery due to the tough economic conditions.

Peter Kaufman Kent of Ironbridge Estates first looked to develop the 19th-century buildings in 2007 when the site was vacated. He had a vision of turning the site into a hotel, but faced problems with the Environment Department.

‘At the time we couldn’t reach a consensus on a development strategy,’ he said.

Mr Kaufman Kent, who has more than 35 years’ experience regenerating buildings and helped to develop Jersey’s Radisson Hotel, had looked to invest millions into redeveloping the site.

But that has now changed.

‘We wouldn’t want to spend time on it now and it no longer suits our business profile. Also, times have moved on and we are in a different economic climate now.’

He still believes that the buildings, near the top of St Julian’s Avenue, are in need of redevelopment.