The $250 million Soho retail/commercial project spanning a block is in re' />

Developer Layne Kell's ambitious plans for Ponsonby have hit the wall.

The $250 million Soho retail/commercial project spanning a block is in receivership.

The company, Ponsonby Mall Trust, is now out of Mr Kell's hands.

A first report from Richard Simpson of receiver Grant Thornton is expected in February.