The RRA have received a number of enquiries from concerned residents that the farmland and some woodland in Riddlesdown has been put up for sale.
The land has been advertised with Savills and offers were due in by 29 September 2017. Much of the land is let to local farmer.
This land is being sold by Wineham Investments, who bought much of this Green Belt land from Taylor Wimpey in 2009. Wineham’s in 2016, entered into an Option Agreement with Bovis Homes.
With an Option Agreement, the buyer has the “option” to buy the property subject to certain conditions being fulfilled. This is attractive mainly to developers who wish to buy land to build/develop upon. Once any planning permission has been granted, or a condition has been fulfilled, the buyer then has the right to serve a notice upon the seller requiring the seller to sell the site to the buyer. This would be within a time specified in the option agreement, at either an agreed price, or at market value. Option Agreements are normally registered against the title of the property at the Land Registry, so any other parties can see that the developer/buyer has an interest in the land. It doesn’t mean they have bought it.
All this land is Green Belt land and in theory it can’t be built on for homes (which is probably why Taylor Wimpey sold it!). Croydon Council have designated all the land in the current and proposed Local Croydon Plans, as Green Belt. However, that doesn’t mean it will change at sometime in the future, if Government policy changes. It is again, probably another speculative sale by an owner. Hopefully local residents shouldn’t be too concerned.
The RRA will keep a watching brief on this. If anyone hears anything more, will they please let us know.