Exeter City Living
Revised proposals to sell council land for co-living and high-spec housing discount site viability issues
Council leader’s Clifton Hill and Mary Arches car park sale amendments agreed by Executive without discussing financial consequences, including multi-million pound value losses compelling sale of other assets to cover Exeter City Living debts.
Clifton Hill sports centre site - with adjacent green space - and Mary Arches car park set for sale for PBSA
Reversal of policy to prohibit Purpose Built Student Accommodation on city council land proposed to cover expected £9 million outstanding Exeter City Living debt, with £800,000 budget proposed for site disposal costs.
Exeter City Living to be all-but wound up after £4.5 million losses with £10 million owed to council
Council expects resulting resale value of surrendered Clifton Hill development site not to cover company’s debts, with remaining losses to be written off, as Liveable Exeter vision thrown into doubt and councillors evade responsibility for failure.
£1 million leisure overspend fuels £3.2 million city council deficit
2022-23 budget review confirms £2.2 million annual leisure subsidy to continue with St Sidwell’s Point expected to make a loss for at least five years while another £22 million to be spent on Exeter City Living Vaughan Road development.