Organisers of a planned beach and outdoor cinema have pulled the plug on the event after failing to reach contractual agreement with the South Bank Centre.
Since receiving Lambeth Council planning approval in November 2005, the company says that it has secured sponsorship and continued the development of all aspects of the event.
The company says that it remains committed to securing a long term home for the event.
The project was due to include the city's first authentic urban beach, together with a 1000-seat open-air cinema, beach bar, barbecues, cafe, sports and arts activity zones, market stalls and more.
The beach was originally planned for summer 2005 but was postponed to 2006 following planning wrangles.