A Little Over The Odds.

The Land SDC have bought at Otterpool Lane, is to be sat on for the time being. It will not be developed immediately. If you think that the Land at Westhanger Racecourse is also being sat on by its owners – The Reuben Brothers –  both SDC and the brothers are waiting for the right moment and right opportunity to come along.

 SDC Completed the sale of the Otterpool Lane  land  on 17th December 2015.

“The total value of the transaction was £5.263 million including fees and all of these costs can be capitalised in the current financial year. This is being funded through use of internal borrowing in order to provide the most cost effective means of funding the transaction. The costs in terms of loss of interest is approximately £50,000 per annum however it is anticipated this will be covered by the short term rental stream from leasing out the land. “

SDC received valuation advice from Savills. If one uses the top end figures on the Hobbs Parker Brochure, the amount for the six plots comes in at £3,390,000. Why did SDC pay £1,873,000 more for the land?  What justification can SDC give for this? Was it value for money?

We mentioned in an earlier post that SDC may well be able to claim the EU Basic Payment Scheme Entitlement – an EU subsidy for farmers and non-farmers. Well, The entitlements are currently held by one of the joint sellers who has submitted a 2015 claim for basic payment. These are excluded from the sale in respect of all lots but will be available by separate negotiation following completion to the successful purchaser/ purchasers for permanent transfer in early 2016. According to the Rural Payments Agency who oversee the Basic Payment Scheme SDC would be entitled to a little over £26,000 on their 144.147 Hectares

SDC El Supremo James Alistair Stewart was seen choosing a rather fetching Barbour Wax Jacket, to match his green hunter wellies, so that he looks the part when he strides across his new estate, bagging a brace or two [Joke people, Joke] as the sellers would be keen to discuss future arrangements with the successful purchaser(s) as they would like to maintain the small shoot that they have been running. So Have SDC allowed the former owners the rights to continue blowing game and other wildlife of the face of the planet? Does SDC have a policy on “shooting rights”?

Again rumours persisted late last year that our new Lord of Otterpool, James Alistair Stewart, SDC’s CEO  he of the hunter wellies and Barbour jacket was due to retire once again. How many times Mr Stewart has said this are too many to mention. We live in hope that the term “purge your emails” will die a death when he leaves the building. And we hope he’ll leave behind the Hunter Wellies and the Barbour, if they were bought at public expenses.

Finally,  The wily Peter Wignall – whose leaving SDC cost taxpayers more that £185,000  still remains at the Council after we were informed he would be there on a “short term basis,” – until after the May Elections 2015. Well one year on Mr Wignall has now joined Chris Lewis on “Special Projects” and is working on the J11 M20 project.

Shepwayvox