New youth club deal

By Ross Findon

Tuesday, June 3, 2014

 

A NEW deal for a former youth centre looks set to net the Isle of Wight Council close to an extra £20,000.

Shorwell Youth Centre was due to be sold for £180,000, following a deal agreed last November, but the purchaser withdrew.

The property was put back on the market and the council has now had an offer for £199,950.

An overage clause, which could entitle the council to additional cash if the property value increased has however been reduced from 50 per cent to 20 per cent.

Officers have recommended the council proceeds with the deal, which is due to go before the property disposal sub committee next Tuesday.

Reporter: ross.findon@iwcp.co.uk

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