William Eichler 17 September 2021

Council to review development company

Council to review development company image

Cambridgeshire CC has brought in external consultants to look into its development company.

The council has loaned about £113m to arm’s length property development company This Land.

The review by consultancy Avison Young will look at whether This Land’s business plan is ‘reasonable and deliverable’ and its exposure to medium-term risk.

It will also look at the firm’s skills, capabilities and expertise, how to quicken the pace of delivering homes, and how to adapt its risk appetite and strategy.

This Land pays commercial rates of interest on the £113m of loans it has received from Cambridgeshire, which expects to receive £6m in the current financial year.

So far this year the company has repaid more than £2m and made interest payments totalling just over £1m.

Council leader Cllr Lucy Nethsingha said: ‘This is part of the ongoing oversight of This Land that we promised as part of the joint administration agreement.

‘We are moving at pace to deliver this review, which will report before the end of the year.’

SIGN UP
For your free daily news bulletin
Highways jobs

Assistant Road Safety Officer/Engineer x2

Bristol City Council
BG8
Bristol City Council
Recuriter: Bristol City Council

Park Operations Assistant - Thorndon Country Park

Essex County Council
Up to £23344.0000 per annum
Park Operations Assistant - Thorndon Country ParkPermanent, Part Time£23,344 per annum (full time equivalent)Location
Recuriter: Essex County Council

Road Safety Officer/Engineer x2

Bristol City Council
BG10
Bristol City Council
Recuriter: Bristol City Council

Senior Road Safety Engineer

Bristol City Council
BG11
Bristol City Council
Recuriter: Bristol City Council

Road Safety Technical Lead

Bristol City Council
BG13
Bristol City Council
Recuriter: Bristol City Council
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.