Property Development
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.
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.
St Thomas library forced to relocate when lease expires in November
Landlord Exeter Estates Holdings, controlled by Exeter Chiefs CEO and chairman Tony Rowe, sought substantial rent increase after withdrawing planning application to demolish library building and replace it with block of thirteen flats.