College Green is a 2-acre town centre site that Lacey’s Brick by Brick hummed and hurred over for four years, running up huge additional expense.
Any potential purchaser might be tempted to snaffle up the College Green site with its existing permission, which was granted only last year and includes a requirement for only 16 per cent affordable housing, well below the usual 30 per cent.
Nearby, the Croydon Park, close to East Croydon Station, is the 211-bedroom hotel on an 1.54-acre site which was bought by the council in 2018 after Newman circumvented usual scrutiny processes.
I seem to recall the idea was that the tenant paid rent which provided a higher rate of return than the Council had to pay the Government in interest for borrowing the purchase price.
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