THE future of Thurrock’s massive regeneration project has been thrown into question after a major prospective buyer has pulled out of purchasing Thames Enterprise Park.

CEO of the park Chris Brookhouse confirmed at the time of going to press the pull-out will lead to job losses from the 56-strong workforce at Thames Enterprise Park, with some sources saying as many as 50 per cent could be lost.

Job losses are also expected from the Brown and Mason 100-strong demolition team contracted by the park, although the company also said the number of redundancies was not yet known.

Over 1,000 planned jobs may also be under threat if the pull-out leads to a drop-out from British Airways com - mitment to the Greensky project at the site.

Several sources close to landholders Morzine told the Gazette the “exclusive” buyer of the 400 acre site, whose identity has not been confirmed, pulled out due to stresses in property market connected to Brexit.

CEO of Thames Enterprise Park and Thames Oilport Chris Brook - house said he remained “optimistic” about a future sale and the site had a “strong shortlist of bidders.”

Mr Brookhouse said: “Discussions to sell the land at Thames Enterprise Park to a third party have stalled as the exclusive prospective buyer has informed us that they no longer wish to continue the transaction on the expected timing.

He added that long term prospects for redevelopment were “very good.”

The CEO said: “There was a strong shortlist of bidders before we chose our preferred bidder.

“As a brownfield site adjacent to London Gateway with road, rail, river and pipeline access, the redevelopment potential of the site is unchanged.

“There are discussions on alternative ways to develop the land already taking place, but it is too early to predict timescales or the likelihood of finding a resolution.

With reference to redundancies, Mr Brookhouse added: “We have begun a consultation process with a number of employees over their future on site and are working to mitigate the number of redundancies. We will not know how many staff will be impacted until the end of the consultation period.”

The multi-million pound scheme at the Thames Enterprise Park was set to be a key feature in the regeneration of the borough, and further afield.

The site’s location is also said to be crucial for the quickly expanding logistics hub in the region, placed as it is next to the Thames Oilport and DP World London Gateway port.

Morzine, a consortium made up of two-thirds Greenergy and one-third Shell, acts as ‘vendor’ for the site, after having purchased it in 2012.

One of the projects planned to rent part of the 400 acre former Coryton oil refinery site was the innovative Green - sky landfill-to-jet fuel project, for which British Airways is still seeking a partner, after partner Solena Fuels pulled out earlier this year.

British Airways said last January they remained “committed” to the Greensky project moving ahead at the park.

But at the time of going to press the company refused to confirm if Thurrock was still the priority site or if the pull-out had affected their interest.

From Page 1 A spokesman said British Airways remained “fully committed to supporting sustainable alternative fuels production projects in the UK,” including Greensky.

With regard to demolition redundancies, Nick Brown, Managing Director of Brown & Mason Limited said their exact number of redundancies was “yet to be determined” but was “likely”.

He added the company would still be working on site for at least the next year demolishing and clearing the refinery infrastructure and equipment.

Business Portfolio Holder Garry Hague reacted with disappointment to the news.

Councillor Hague said: “It is disappointing that one of the investors is withdrawing from the project. However, Thurrock remains a great location for business and plans have been developed to explore other partner opportunities should situations like this arise, which can happen at any time on a major project of this nature.”

Ukip shadow Business Portfolio Holder Graham Hamilton said: “It is extremely disappointing that the Thurrock regeneration project has been set back and much needed jobs may not be created.”

Labour party leader and Councillor John Kent said: “These are uncertain times for business generally and particularly where major investment is needed to get big projects underway before any return can be had.”