ST Agnes Parish Council Buys Plot of Land for £55,000
ST AGNES Parish Council has spent £55,000 on a plot of land in the village but is remaining tight-lipped over whether it is to become its site for a new headquarters.The council said the one acre plot on Penwinnick Road opposite Morgan's gift shop, represented a "prudent investment." It confirmed the deal today (Jan 7) saying it bought the land in a private deal with a local parishioner who sold the site well below its £75,000 valuation.
It came under fire from residents last year after revealing proposals to sell-off its parish rooms and build new headquarters, saying its current base on Vicarage Road was no longer fit for purpose.
The council said its investments were attracting a very low return making it more prudent to invest some of its capital funds in land acquisition . "The parish council has not, at this time identified a specific use for the land but recognise that it is an asset that will increase in value," it added.
Council chairman, Eugene Hope, said: "At the current time the council feels it is more beneficial to hold this asset rather than leave money sitting in the bank making little gain. A number of potential uses are open to the council but prior to any decisions being made the council will share its views with its parishioners."
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The land was offered to the council as a private acquisition by a parishioner for less than its market value. The land valued at around £75,000 but was bought by the parish for £55,000, he added.
The Council ensured that the purchase had no overage clauses - a sum payable to the vendor after a land transaction dependent on specific conditions.