Eatonfield poised for Scottish development
CHESHIRE property group Eatonfield said it expects to gain planning permission for its 83-acre site south of Glasgow.
Tarporley-based Eatonfield, which bought the former hospital site at Birkwood last year, wants to build a country house hotel, 165 houses and sports facilities.
The group’s chief executive Rob Lloyd said: “This news follows hard on the heels of the grant of planning consent on the former Corus site at Workington and firmly establishes Eatonfield as a leading player in regeneration.
“It further emphasises our ability to work closely with local government in achieving planning permission for a development which not only preserves the high quality landscape but which will will also provide opportunities for this unique village.”
Mr Lloyd, who featured in Channel 4’s Secret Millionaire and also runs horse racing stables in Cheshire, will personally benefit from the development of the Workington and Birkwood sites.
Last year Eatonfield was forced to cuts costs and sought emergency funding of £750,000 from Mr Lloyd to avoid insolvency.
In return Mr Lloyd will get 50% of any increase in the value of the Workington site above £6m, and the same cut in uplift on the site in Scotland above £2.7m.
The company said the sites were independently valued in June 2008 at £13.25m and £6.1m respectively. Any payment would be capped at £10m. A sale at these prices would give Mr Lloyd £5.3m, minus tax and expenses.
