Is the game for the redevelopment of Dunsfold Garden Village back on?
Trinity College Cambridge, owners of the former WW2 airfield – AKA the home of Top Gear – has, today, informed ‘Your Waverley’ that it has finally dumped the American Investment Company that offered squillions for the controversial site over a year ago.
It’s rumoured CTI has been salami slicing millions from its original offer price over the course of the past year, to the intense frustration of rival bidders – including Waverley Borough Council – who were knocked out in the early rounds by CTI’s bombastic – and, it would now appear, totally unrealistic offer – which was, no doubt, designed to see off the competition leaving CTI free to make off with the prize whilst, at the same time, chipping away at the price!
The deal made in 2021 was so big it attracted the attention of Fleet Street, when the American-owned asset management firm, a subsidiary of Ameriprise Financial, snapped up the former aerodrome! The deal was believed to be worth £250 million to Trinity which had been granted planning consent to build 2,600 homes on the largest brownfield site in the borough.
Richard Turncoat – or Turdhill, depending on your point of view – Trinity College’s now not so new Bursar set aside the College’s reputation for prudence and long-term investment in bricks and mortar – which has made it one of the wealthiest colleges in the land – in favour of the get-rich-quick schemes he’s more comfortable with, coming from a city background.
Turncoat was formerly the Global Chief Investment Strategist of BlackRock. On his Linkedin page, Mr Turncoat has boasted of being an…
‘experienced senior executive with a demonstrated history of working in the financial services industry across fund management, strategy and economics roles …’
Clearly a modest man, old Turdcoat! Wonder how the Turnill is feeling now, following a year of negotiations and due diligence, which has no doubt cost Trinity a shedload of cash; put Waverley Borough Council in the dock over its lack of a five-year housing supply and caused nothing but anguish to local residents who, as a result, have had shed loads more housing dumped on the green fields in and around their villages!
The only winners have been all the other wannabe developers who have reaped the whirlwind of Turncoat’s stupidity and short-sightedness. His history of dabbing in the property market showed a distinct lack of strategy and a woeful grasp of economics! If only he’d stuck with the plan and started to build at Dunsfoldas soon as he took the helm at Trinity College, his houses would have sold like hotcakes during the recent record property market boom.
Want to see a bit more of Turdhill?