STACK drops its Whitley Bay and Durham schemes and resets its pace to two venues a year

STACK Leisure has pulled out of two long-running North East projects: the former Empress Ballroom at Spanish City in Whitley Bay, and the old Marks & Spencer store on Silver Street in Durham, Chronicle Live reports.

Why it stepped back Chief executive Neill Winch pointed to unforeseen development costs, the pace of planning and legal work, infrastructure issues and the wider squeeze on hospitality. Rather than keep both sites waiting, he said, the company would step aside so other operators can come forward. He stressed the decision was about where to focus investment, not about the trading of existing venues or the viability of the two locations.

The pipeline reset - The original target was three to four new venues a year; Winch now calls two a year more realistic - Still in the pipeline: Bishop Auckland, Northampton, Manchester, Leeds and Sheffield - The company says its existing sites, including Worswick Chambers and St James' in Newcastle, are trading well

STACK started on the cleared Odeon site on Pilgrim Street in 2018 and has since opened across the region and beyond.

What it means for operators: conversions of large heritage buildings carry build, planning and infrastructure risk that can outrun a roll-out plan. Groups bidding for council or landlord-backed regeneration sites should model a slower delivery rate, and both of these sites are now open to other operators.