Jump to content
House Price Crash Forum
Sign in to follow this  
The Masked Tulip

Vetch Field Homes Plan Flops

Recommended Posts

T WAS once the field of dreams for thousands of football fans.

The Vetch Field was graced by the likes of George Best, the Allchurch Brothers and John Toshack who led a swashbuckling Swansea City charge to the top of the old Division One.

But the club’s much loved former home, made redundant by the £28m Liberty Stadium in 2005, is now a rusting hulk which owners Swansea council can sell to no-one.

Members of the council’s cabinet will hear this week that of 30 major housebuilding firms invited to submit plans for re-developing the Vetch Field site, only one replied.

And that firm would only offer a nominal sum for the five acre site which stands in the shadow of Swansea’s seafront Victorian jail in the city’s Sandfields district.

The cash-strapped authority has now secured a £700,000 Assembly Government grant to demolish the site completely and landscape it to make it a more attractive proposition for developers.

And the council is to “review the need and affordability” of the community centre plan with the original masterplan being looked at again in an attempt to lure more development bids.

Swansea Council cabinet members will be told in a report on Thursday: “The sharp economic downturn of the last 18 months or so has seen the cessation of virtually all residential land acquisition activity.

“Indeed many major house builders have taken drastic restructuring to survive, sometimes including disposal of part of their land banks. In such a difficult market few are prepared to buy land and those that are tend to be faced with intense difficulty in obtaining finance to do so.

“The significant costs in demolishing the stadium and complying with certain elements of the masterplan such as providing a community centre and extensive public open space have further reduced its financial viability in the current market.

“Feedback from national house builders has suggested this was the major reason for not pursing this development opportunity.”

Read More http://www.walesonline.co.uk/news/wales-news/2010/11/16/vetch-field-homes-plan-flops-91466-27663708/#ixzz15ROS5JaB

Looks like the Council has woken up to getting builders to build things of benefit to the community - only 10 years too late and about 18 months after the biggest housing bubble started to go pop.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.