Chinese bid rejected for Grimsby's East Marsh flats
A £2.5m bid by a Chinese property group to buy a number of tower blocks in Grimsby threatened with demolition has been turned down.
Shoreline, owners of the blocks on Grimsby's East Marsh, said the bid by the property group YU was "interesting" but would not proceed.
Six high-rise towers and two maisonette blocks would be demolished by 2017.
Campaigners have reacted angrily to the news. Councillor Steve Beasant said: "I find this decision appalling."
About 700 properties would be lost, according to Liberal Democrat Mr Beasant, who represents East Marsh ward on North East Lincolnshire Council.
He said Shoreline Housing Partnership had let the area down.
Residents would be given help with re-housing and a consultation held on the future of the cleared site, said Shoreline.
The partnership was unavailable for further comment.