Property Group Litton has abandoned its appeal against the Peak District National Park Authority’s rejection of plans for a £25 million redevelopment of the 10-acre riverside site in Bakewell.
Litton says that although its legal advisers were confident of winning the appeal, it felt that the revised scheme for a mixed use development extending its business park was no longer viable.
Managing director Mark Twelves says the company had made significant concessions in the hope of gaining consent and had the backing of planning officers, but members of the planning committee voted against the scheme.
“Although there was a small group of local objectors, we firmly believe that our proposals were supported by the site’s occupiers, most of the town and the wider community,” added Mr Twelves.
Litton says the business park is profitable and does not need development.