Otterpool Manor Farmland Purchase Receipts
The land at Otterpool lane was bought by SDC by sealed tender. It was sold to SDC because they were the only bidder who bid for ALL the land. All the other bidders wished to purchase only part of the land. Now as a seller, it makes sense to sell to a bidder who wish to purchase all the land, not just part or parcels of the land.
Below we have placed ALL the receipts regarding the purchase of the land on December 17th 2015. All information has come from SDC’s accounts (April 1st 2015 – 31st March 2016); which are open to inspection by the public until 12th August 2016
The payment for the land was made in two payments on the 17th Dec 2015
The first amount paid was Three million and twenty three thousand four hundred and seventy five pounds – £3,023,475.00
The second payment made on the 17th Dec 2015 was for One million nine hundred and seventy six thousand five hundred and twenty five pounds – £1,976,525.000.
SDC sought legal advice for the land from two Chambers in London regarding the land. They were New Square Chamber (Miss Ross Crail, Barrister) – a specialist in public rights of way and town and village greens. She charged SDC for her advice the sum of £2000 and with Vat and travel expenses included the total sum was £2,456.16
The second chambers was Landmark Chambers in London. Mr Timothy Morshead QC, who specialises in property litigation including not only in the traditional Chancery and common law spheres but also in the areas of public, environmental and planning law. He billed SDC for £3000. The advice he gave was on 17th and 19th Nov 2015 and gave instruction by email and advice in consultation by telephone. The total sum including Vat was £3,600.
Savills who acted in the purchase of the Otterpool Manor Framland was £62,500 and with Vat the full bill came to £75,000.
There was stamp duty of £200,000.
As we said this information was taken from SDC’s accounts by our public face, we apologise in advance for the information being jumbled, but the SDC officer who copied the information photocopied as such.
Receipts for Otterpool Land
SDC are currently renting the land out to a tenant and expect to make an annual return of £241,000 per year. There should be no costs to SDC because the tenant’s lease requires them to do all repairs.
Shepwayvox
So it looks as if shepway paid one amount in Dec 15 and the rest is still to be paid in Dec this year! So they don’t actually own all the land yet then?
Hi PB yes they day all payments were made on 17th Dec 2015. We made a typo, apologies. Two brothers owned the land and they each got their respective share
Seems odd that Shepway were the only bidder. Most Land Auctions are hotly contested by prospective developers.
Was the availability of this Land publicised, or was the deal conducted in some underhand way? Obviously not by Shepway, they would, surely, not dream of such a thing!
Bids were put in by other people, I know this as a fact.
‘Yes other bids were put in but not for ALL of the land, if you can prove otherwise please do let us know who bid SV Crew‘
Why offer it as 2 lots if only interested in selling as one? What is interesting, and may have already been discussed elsewhere, is that half of LOT2 is designated SSSI and therefore cannot be built on, and due to is geography cannot be farmed for crops, only grazing animals. So why did SDC buy LOT2? What benefit is it too them or the tax payer? Is it to lease out for farming and make a return on the investment, which will take many many years, or to include it as perhaps 30% ‘green space’ in a forthcoming planning application?