“Land values funding row set to throw Axminster masterplan and relief road plans into chaos”

As reported by Owl a week ago:
https://eastdevonwatch.org/2019/11/29/axminster-master-plan-back-to-the-drawing-board-but-dont-upset-the-developers/

“A row over land values is set to scupper a masterplan that would see more than 800 new homes and the long-awaited relief road for Axminster built.

The Axminster North East Urban Extension masterplan for 850 homes was adopted in January, and also includes employment land, open spaces and community facilities.

It also included the £16.7m north-south relief road that aims to end the severe congestion, pollution and HGVs having to travel on the existing road that runs through the centre of the town.

East Devon District Council had successfully bid for a £10m Homes England Housing Infrastructure Funding (HIF) grant that would be used to help fund the delivery of the crucial new relief road, only for the government agency to change their mind and turn the grant into a loan. …

Outlining the situation in his report, Mr Freeman says that the land owners have been contacted but are unwilling to reduce their expectations.

The Crown Estate who own their land outright advised that the value attributed to their land is fixed by what they actually paid and cannot therefore be renegotiated, he said, adding the land owners whose land is optioned to Persimmon Homes were not willing to entertain this option, stating that if they could not realise their expected values they would simply continue to farm the land and await a more attractive offer in the future. …”

https://www.devonlive.com/news/devon-news/land-values-funding-row-set-3608294

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