Updated: 26/10/20 @12:40
It’s official. Folkestone & Hythe District Council now own Folkestone racecourse, according to the land registry. The deal has taken close to six months to complete.
The transfer of the assets began on the 6th Feb and was completed on the 27th Feb 2020. However, it has taken close to six months to show as owned by the Council on the land registry.
As the title deed makes clear they paid £25 million, then add in fees and that is no doubt closer to the £25.2 million, the Shepwayvox Team announced back in Feburary 2020.
This means Cozumel Estates Limited -owned by the Reuben Brothers, via The British Virgin Islands have made a 525% increase on the land they purchased for £4 million in 2016. As we said previously they never buy a pig in a poke.
There is NO record of payment for £25 million showing in the Council’s payment to suppliers data or the Public Work Loans Board payment data. They may have issued a credit note to the Reuben Brothers, used the Council reserves, or borrowed the money privately from other lenders.
The two council officers who are charged with seeing the Otterpool Park development through planning permission and the commencement of building of up to 10,000 homes, over a 20 year period, are Andy Jarrett (pictured below left) and John Bunnett (right).
Both of these Council officers have a strange history.
In 2007 Mr Jarrett was made redundant by the Council following a Council restructure.
Early in 2006 Mr Jarrett was accused of misleading the Cabinet about the purchase of a boiler, that accusation was investigated and concluded that there was no case to answer. The allegation had no bearing on Mr Jarrett’s redundancy in 2007. He rejoined the Council in 2016.
His boss, John Bunnett, bought a car for an employee and sanctioned £1.1 million of fictitious overtime while he was deputy Chief Exec at Thanet District Council and is described by some developers in Kent as “slippery“.
So just the type of people you want in charge of a £100 million pound plus project.
Moving on, the Council announced earlier this week the the five new non-executive directors who will sit on the Otterpool Park Limited Liability Company.
Cllr Jennifer (nine homes) Hollingsbee (Con)
Cllr Rebecca Tamsin Shoob (Shepway Green Party)