Fifth Capital have told us that they have a “controlling interest” in the Carriageworks and Westmoreland House site. But what does this mean?
The freehold of the site is still owned by Comer Homes, as it has been for over 25 years.
We understand that in the Autumn 2013 Comer Homes sold an option to Fifth Capital. We understand that the option says that if they can secure planning permission by early 2015 then Comer will sell Fifth Capital the site for a rumoured £5m.
As freehold owner, Fifth Capital would then be able to redevelop the site itself (subject to planning permission) and or sell it on to another company. Equally, it could just sit on the derelict site for many years.
how will fifth capital,s controlling interest , reflect the views / wishes of the local community
why was all this information not put out into the open from the start
don
The Stokes Croft area is a huge asset to Bristol, in terms of its culture, arts and ‘lifestyle’ representation. Any attempt to redevelop the site would be a great deal less than it could be if it is not in tune with this, and Bristol would miss a chance to build on its rep. I would think a London developer would not be likely to understand, or, indeed, care about anything more than the dollar value of the site, which is a shame. What about a third alternative, a bristol-based development syndicate…anyone?