Council Takes £50K Hit On Property Sale

Harborough District Council has taken a £50,000 hit after selling a property it bought for an abandoned housing scheme.

The council purchased the derelict house on Roman Way in 2021 for £265,000 and has sold it for £215,000.

The 400-year-old property was set to be demolished to make-way for new accommodation for the homeless, but the project was scrapped last year and the house put up for sale.

The property on Roman Way

The plan to build apartments on the site was deemed to be no longer be financially viable by the ruling coalition administration, after the total cost of the scheme more than doubled to £1.5m.

Speaking last year, Cllr Phil Knowles, Leader of Harborough District Council, said: “The purchase of 4 Roman Way was made under the old administration.

“Since then, as is the right thing to do, the council has reviewed its provision of homeless accommodation and because the costs involved to carry on converting the building were excessive, prohibitive, and not value for money, we have put a stop to it.

“This administration has been left with a difficult choice, either we hold onto the building spending more money which is not financially viable, or we sell and recover the costs. We have been open and honest about a sale being the best option.

“The highest bid will be accepted so that we can move swiftly to reinvest the money from a sale into lower density housing in locations across the district for homeless people on a temporary basis.”

It has not been revealed who has purchased the property.