Lake Vyrnwy bid in chaos

 

Recent rumours suggested that the Association was the only bidder for the properties but that the amount offered was unacceptable. The Association has now confirmed that it is considering withdrawing that offer.

 

The Association’s Chief Executive, Shane Perkins explained: “The Association has been committed to supporting the community ever since the announcement of the sale well over a year ago and has made it clear that we would be prepared to not only purchase the homes, but invest significantly in bringing them up to meet the Welsh Housing Quality Standard. Our bid was based upon an analysis of the affordable rental income and the likely cost of investment. However, it has been made clear to us that our offer is not acceptable, and that Lot 4 will now be broken up and disposed of differently.”

 

The Association reaffirmed its wish to assist the community to retain the homes as affordable housing for local people, but felt that the changes to the details of the sale, together with the passage of time question the viability of its offer.

 

Mr Perkins added. “We have advised Severn Trent Water that our offer remains open for a further month, but that after October, we can give no assurances to them or the community that we will be able to acquire any of the properties. There are other critical housing needs in Mid-Wales, and we cannot to tie up scarce resources indefinitely, if there is no role for us in Llanwddyn.”

 

The Association’s decision is likely to be seen as a further body blow to the community worried about the future of the estate, especially as recently as September 19, the Association was openly discussing potential joint projects with the community.

 

Mr Perkins said that he hoped the community understood the Association’s position adding: “I am sorry if the community feel we have let them down, but if the vendor does not want to sell to you there is little you can do about it. I am led to believe our offer was nowhere near what they were expecting, and I fear Severn Trent Water are putting profit ahead of the interests of the community. I hope that the Welsh Government will interject on behalf of local people regardless of our involvement.”