Knowle relocation project: BREAKING: developer fails to pay

There has been a shake-up in the company that wants to redevelop the Knowle:

Knowle relocation project: BREAKING: PegasusLife merger

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Meanwhile, the District Council is incurring yet further costs as it waits for things to settle:

Knowle relocation project: costs and profits

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We now seem to be at an impasse, as reported this evening by Sidmouth Nub news:

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Council to take legal action after sale of former HQ in Sidmouth delayed

East Devon District Council has confirmed tonight (December 18) that the sale of Knowle, its former Sidmouth offices, has not yet occurred as the developer has ‘failed to complete’ by the agreed contract date.

Lifestory Group Limited (formerly known as Pegasus Life Ltd) were recently in contact with the council seeking an extension rather than meet their existing contracted obligation to pay the outstanding total by today, December 18.

Council to take legal action after sale of former HQ in Sidmouth delayed

The Knowle © Anthony Vosper cc-by-sa/2.0 :: Geograph Britain and …

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Here’s the official press release:

Developer Lifestory Group Limited (formerly known as Pegasus Life) fails to complete on sale of Knowle by the agreed date (Wednesday 18 December)

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