Final sale price of Wessex Fields leaked to Echo

An independent red book valuation of the land conducted by Savills said Wessex Fields has a storage land value under an employment use class of £6.104m - deemed to be the best value of the land with no infrastructure on it.

This is based on the assumption that there is full road infrastructure in place.

In the sale, BCP Council agreed to deduct £3.941m from the purchase price as its contribution to the spine road to connect to the link road currently being constructed.

BCP Council said official RICS Red Book valuation of the land on its current status is £2.163m.

Sources have told the Echo the land could be revalued at up to £10m, if considered with employment use.

Read more: 'No discount' given to UHD for Wessex Fields, says Vikki Slade

As reported, council leader Vikki Slade said that there is “no discount – substantial or otherwise” given to UHD when the sale was agreed – something she told the Echo still stands as fact. 

On the value of the land, Cllr Slade said: “The site has no road access, it has no electricity, it has no services. It’s reliant on services and therefore it is valued, like anything, on its current status. 

“I compare it to when you see a sign at the side of the road saying ‘woodland for sale: £10 per acre’ and you think blimey...  

“It is what it is. So yes, if something had all the services, the road and ready to rock and roll, of course it would be worth more but it isn’t. And we would have to invest million to do that.”

Council leader Vikki Slade (Image: Freelance) 

She added the Conservatives “don’t like” the sale of the land, being the only ones to vote against it, adding it has been through scrutiny and a proper process. 

Wessex Fields is expected to be classed as designated employment land in new local plan when it is adopted, but the red book valuation is based on the land being for storage use. 

This means the value would be less, also meaning the land had the potential to be higher if valued as employment land because of the benefits it would bring. 

The Echo asked Cllr Slade why the value of the slip road was knocked off the sale price when it was ultimately going to go to UHD. 

She declined to comment, saying: “I’m not going to discuss details about pricing. It’s been through scrutiny, it’s been through cabinet, it’s been through council. That’s the end of it.” 

When told the Echo had seen the confidential documents, Cllr Slade replied: “So somebody has breached the rules of the council and the rules of local government in sharing their papers? 

“This isn't the first time and I'm utterly appalled. That is a disciplinary offence, frankly.” 

She added there are “a number of councillors who are deliberately trying to undermine the success of the council”.  

The sale of the land does not include the land where the retired nursing home is at – which announced in April it would be closing down.