Jul 6 2008 by David Bartlett, Liverpool Daily Post
A DEAL to sell a city developer little more than “fresh air” was approved by Liverpool City Council yesterday for £750,000.
Beetham Organisation has agreed to pay the sum, equivalent to an astonishing £84m per acre, for a tiny patch of land and its airspace in Brook Street, off The Strand, in order to resolve a legal issue over its 40-storey West Tower.
Last night, the council said it was a great deal for the city, but the Labour opposition said they were going to call the decision in for scrutiny by select committee to make sure best value had been achieved.
As revealed in the Daily Post earlier this week, the company had been unable to sell 60 luxury apartments in the skyscraper after the Land Registry had refused to register potential sales because part of the building overhangs 36 sqm of public highway.
Last night, Beetham said the agreement would allow the organisation to get on with the job of marketing the apartments.
The agreement comes five years after the Beetham Organisation bought land in Brook Street for just £163,000 from Liverpool City Council.
The company told the council it planned to either landscape the area, which was in front of its original Beetham Tower skyscraper, or add a small office development.
But, instead, it built a second skyscraper, the West Tower, including 116 luxury apartments.
Earlier this week, the Daily Post revealed how council officials were pressing for the company to pay at least £600,000.
Last night council leader Warren Bradley said it was an example of the public and private sector working in a collaborative way, and that the council had achieved the price given by an independent valuation.
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A joint statement released yesterday by Liverpool council and Beetham read: “We believe the West Tower is a statement of confidence in the ongoing regeneration of Liverpool and that the city council’s handling of the matter demonstrates its commitment to supporting that regeneration and to supporting all businesses wishing to invest in our city for the long-term good of all our residents.”
Labour’s city centre councillor, Nick Small, said: “I think it is good we got more money for it, but we are going to call it in (for scrutiny), because we are still concerned over whether this is best value for the taxpayer.”
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