Withdrawn Offer
Further news has emerged in the Times about whether Mr Wu is a fit custodian for Udney Park.
Quantum spent £4m trying to overcome the planning restrictions at Udney Park playing fields before selling the site against a backdrop of total losses of around £6.5m. Since their sale of the land two years ago to Mr Wu, planning restrictions have continued to be tightened.
The position today could not be clearer -
Added to the above, the local Trust have presented a submission to extend OOLTI and LGS to the car park.
Mr Wu announced his intention to sell this land in June 2023. No-one has sought planning advice in the interim period presumably because any potential bidder recognises that there are impossible hurdles to overcome, and that the only acceptable use of the fields is for community sport. This site has zero hope value for any developer and to suggest otherwise is a fantasy.
Given this reality and in the absence of any interest in a purchase of these fields, Mr Wu will now hopefully rethink his strategy and enter meaningful dialogue to sell to the community.
Further news has emerged in the Times about whether Mr Wu is a fit custodian for Udney Park.
Local MP, Munira Wilson, gave an impassioned speech emphasising the importance of retaining playing fields for community use rather than allowing them to be land banked by developers.
I thought that I ought to update everyone as the latest moratorium period under the ACV is about to expire. At this point Mr Wu can market the site again to commercial bidders. Before the moratorium period he attempted to sell the site over a twelve-month period and attracted an offer from a single developer called Mr Williams. This bid later evaporated. No doubt Mr Wu hopes for more meaningful interest the next time around.