Crown Estate under fire after £12.5million land sale could cost taxpayer £140MILLION
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Crown Estate under fire after £12.5million land sale could cost taxpayer £140MILLION.
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The Crown Estate's sale of a historic Somerset estate to housebuilder has been accused of costing the taxpayer millions of pounds.A historic 1,100-acre Somerset estate, the Orchard Portman Estate, situated near Taunton on the fringes of the Blackdown Hills, was bought by Taylor Wimpey for £12.5 million in 2018.
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The land, comprising undeveloped farmland with roots stretching back to the 15th century, was sold without an uplift clause – a standard clause that would have entitled the Crown Estate a share of the value, should it increase in the future.
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TRENDING Stories Videos Your Say Newly revealed proposals for a vast new residential development on the land – dubbed "Taunton Garden Village" – have intensified the controversy.
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The plans see up to 7,000 homes on the former Crown Estate land, which...
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