Knowle relocation project: BREAKING: developer pays up

Last week, it was reported that PegasusLife, now known as LifeStory, had every intention to pay up for the Knowle site, which it had agreed to buy some time back:

Knowle relocation project: developer expected to pay

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The District Council has just released this press statement – much to their relief:

 

PegasusLife (LifeStory) now officially owner of the Knowle, Sidmouth

Knowle sale completed as final payment is made by PegasusLife (LifeStory) for council’s former Sidmouth headquarters

PegasusLife (now known as LifeStory) is now officially the owner of Knowle, East Devon District Council’s former headquarters in Sidmouth.

Shortly after 1pm today, 14 January 2020, East Devon District Council received the outstanding money for the purchase of the Knowle site. The full purchase price to be paid was £9,019,605 and so having already received a deposit of £375,250, the council received the balance of the sum, amounting to £8,644,355.

In March 2020 the council will consider a full project closure report, which will review the first year after leaving Knowle and full operation of the council’s new build and modernised offices.

PegasusLife (LifeStory) now officially owner of the Knowle, Sidmouth | eastdevon.gov.uk

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As covered in the local press this afternoon:

Final payment seals the deal for council’s former Sidmouth headquarters | Sidmouth Nub News

Knowle sale finally goes through after council takes legal action  | Sidmouth Herald

   
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