Wrekin Sale Latest

12.00.00am GMT Wed 2nd Feb 2005

The Shropshire Wildlife Trust has failed to reach agreement to buy part of the Wrekin from the Orleton Estate, owned by Mr Holt. Negotiations with the agent Savills have broken down over the deal. Lottery funding was dependent on the price paid being no more than the £200,000 assessed by the District Valuer, whereas Mr Holt still hoped to raise £500,000 from the sale. The Trust then offered £300,000 but this was rejected.

The Orleton Estate split their property into eight different lots, to try and maximise their return from the sale. But there was no evidence that people wanted to invest in land that has no development potential, and that would incur a huge public liability. Savills director Tony Morris-Eyton claimed that a private individual from London, who knows that offers under £500,000 would not be accepted, is to visit the Wrekin during the week commencing 7 February, but no sale is guaranteed from this visit.

It is known that The Wildlife Trust has so far raised £650,000 towards the purchase and maintenance of the Forest Glen site and Mr Holt's land, which "All Friends Round The Wrekin" have been campaigning for since the sale was made public. It is possible that Mr Holt hopes he will achieve his selling price if he holds out long enough, and can produce other potential investors to encourage higher bids.