Lake Torrent developer goes into receivership as plans for £30 million circuit hit rocks

Plans for a multi-million pound racing circuit in County Tyrone have hit the rocks following confirmation that the developer has gone into receivership.

Wednesday, 24th October 2018, 5:18 pm
Updated Thursday, 25th October 2018, 12:45 am
An impression of the proposed 30 million Lake Torrent facility.
An impression of the proposed 30 million Lake Torrent facility.

The £30 million project has fallen flat after it was revealed Manna Developments Ltd went into insolvency on Monday.

It had been hoped a round of the World Superbike Championship would be staged at the venue in the near future.

Preparatory work began on the site of the former clay pits in Coalisland in September 2017.

Sign up to our daily newsletter

The i newsletter cut through the noise

World Superbike champion Jonathan Rea had welcomed news that a round of the championship could be held in Northern Ireland at the proposed Lake Torrent circuit.

A sensational announcement in January outlined plans for a round of the World Superbike Championship to be staged in Northern Ireland at the new circuit as early as 2019, with Manna Developments signing a three-year deal with championship promoters Dorna amidst a wave of publicity.

However, development at the site was curtailed earlier this year as a result of reported planning issues and tests related to ‘old mineshafts on the site’.

The project soon stalled, casting doubt on whether or not the venture would come to fruition.

Now, it seems the prospect of a world-class racing circuit in Northern Ireland is as far as away as ever.