Council Defends Purchase Of Bungalow For £920k

The District Council has defended purchasing a bungalow and its grounds in Market Harborough for £920,000. 

A further statement was issued at a Full Council meeting last night, amid concerns the price-tag was well-over what the site on Granville Street was worth.

The authority says the amount paid reflected the value of the land, as part of the overall re-development of Naseby Square, which it backs onto, as it will allow an additional 12 affordable homes to be built.

87 Granville Street in Market Harborough.
PIC: ANDY CARPENTER

In response to a question by ward councillor Roger Dunton, who saw the property was valued at £350,000 on a property website, Council Leader Phil King said: “I can confirm that the Council acquired 87 Granville Street on 20 August 2019.

“A report on the acquisition of this site, including the purchase price and development value was considered by the Executive, in exempt session on 8 April 2019.

“A copy of that report is available to all members to view. In addition, an email was sent to all members on 24 April 2019 that the contract was to be signed and the decision was reported to Council on 24 June 2019, as part of the Executive report.

“Whilst the detail of the acquisition was considered in private session, I can add that the price paid, £920,000 reflected the value of the land as part of the overall site development value. The plan in Appendix A of the Executive Report considered on 8 April 2019, indicated that the acquisition of this property enabled the construction of an additional 12 dwellings.

“This additional land has enabled the whole site to potentially deliver 100% affordable houses (23 affordable rent and 15 shared ownership, providing a total of 38 properties) on a sustainable housing site close to the town centre for people who are in need of housing.”