Folkestone & Hythe District Council, have agreed on a price of £26.2 million to purchase Folkestone racecourse land from the Reuben Brothers company – Cozumel Estates Ltd. However, this price will rise to approx £27.6 million once fees and other costs are included
Folkestone & Hythe District Council received a valuation price for the land of between £22 – £36 million pounds for the land.
On 4th Feb 2020, at 10:28 in the morning, Browne Jacobson LLP lodged a search of the land known as Folkestone Racecourse, Westenhanger, Folkestone (CT21 4HX), to protect a pending purchase of the land in favour of Folkestone & Hythe District Council.
The agreement to purchase includes the freehold of the former racecourse and several houses, a total of approximately 200 acres (outlined in yellow) and also includes the ability to purchase neighbouring farmland, to the left in orange; and to the right in purple, which is a further 440 acres. As of 17:36 today (6th Feb 2020) the land was still owned by the Reuben Brothers.
As of the 18th Feb 2020, the Council still had not purchased the land from Cozumel Estates owned by the Reuben Brothers.
The Reuben Brothers purchased the racecourse for £4 million on the 12th April 2016, meaning the Reuben Brothers will realise a 590% profit on the land in less than four years. Like we said in Nov 2016, the Reuben Brothers are not one’s for buying a pig in a poke.
Moving on, we are troubled by the fake news being put out by Folkestone & Hythe District Council regarding Cllr Ian Meyers (pictured).
On the 4th Feb, Folkestone & Hythe District Council in their press release stated Cllr Meyers was stepping down “to allow him more time to care for family members.”
The Council press release of the 4th Feb 2020 is fake news.
This breach of confidence is what lost Cllr Meyers his place on the Cabinet; and will more likely than not cost him his seat on the Council, prompting a by-election at some point in the not too distant future.
Why the Council believed they needed to spread fake news and inform the residents of the district Cllr Meyers was stepping down, “to allow him more time to care for family members.” is unbelievable.
It would have been simpler and easier just to tell the truth. However, the Council failed to do that, now we just have to ask ourselves how much more fake news has the Council passed off on the residents of the district. We’ll leave you to decide that.
The Shepwayvox Team
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