A new construction firm has been appointed to finish the major town centre housing development after works ground to a halt.

The long-awaited Carnival Place development, which is part of Wokingham’s regeneration scheme at the Carnival hub was delayed when the company building the flats – The Mid Group – went into administration in 2022.

Following the reinstatement of the new contractors - Osbournes- Wokingham Borough Council confirmed that the flats are expected to be finished by late 2024/early 2025.

The development which will sit opposite the Carnival Hub on Wellington Road will include 55 properties.

Cllr Stephen Conway, leader of the council and executive member for housing expressed his delight at Osbourne’s involvement in the project to take it forward to the finish line.

He said: “This will deliver high-quality and energy-efficient accommodation in the town centre.

“Since opening, the Carnival Hub has been a big success, with an excellent leisure centre and library bringing joy to so many people. Carnival Place will be the perfect way to round-off the works on Wellington Road and encompass all of our environmental aspirations with it.”

This residential development opposite the Carnival Hub will form the final phase of the town’s regeneration programme that has transformed the town.

It will follow on from the successes of Peach Place, Elms Field and Carnival Hub development.

Mike Smedley, managing director for Osborne, said: “We are extremely excited to be delivering what is a highly efficient residential scheme with Wokingham Borough Council. It has been rewarding for our team to work in such a collaborative environment and their professional team and we look forward to now realising this exciting scheme on site.

“Lots of consideration has been given to delivering energy efficient homes and – once completed – these apartments will represent an attractive and environmentally friendly offer in the centre of Wokingham, with excellent facilities on the doorstep.”

Energy-efficient features will include a high standard of insulation and the installation of solar panels on the roof which will generate energy for the properties.

After being asked in a council meeting about the excess costs of delay, Sarah Morgan, the council’s assistant director of commercial property, said that the development would ‘pay back the cost of constructing it.’