ST AGNES Parish Council has spent £55,000 on a plot of land in the village but is remaining tight-lipped over whether it is to become its site for a new headquarters.The council said the one acre plot on Penwinnick Road opposite Morgan's gift shop, represented a "prudent investment." It confirmed the deal today (Jan 7) saying it bought the land in a private deal with a local parishioner who sold the site well below its £75,000 valuation.
It came under fire from residents last year after revealing proposals to sell-off its parish rooms and build new headquarters, saying its current base on Vicarage Road was no longer fit for purpose.
The council said its investments were attracting a very low return making it more prudent to invest some of its capital funds in land acquisition . "The parish council has not, at this time identified a specific use for the land but recognise that it is an asset that will increase in value," it added.
Council chairman, Eugene Hope, said: "At the current time the council feels it is more beneficial to hold this asset rather than leave money sitting in the bank making little gain. A number of potential uses are open to the council but prior to any decisions being made the council will share its views with its parishioners."
The land was offered to the council as a private acquisition by a parishioner for less than its market value. The land valued at around £75,000 but was bought by the parish for £55,000, he added.
The Council ensured that the purchase had no overage clauses - a sum payable to the vendor after a land transaction dependent on specific conditions.