Housing group’s exit threat over Lake Vyrnwy homes
Thursday 6th October 2011, 11:27AM BST.
An affordable housing group has threatened to pull out of a bid to take over and improve homes on the Lake Vyrnwy estate, in a row over costs.
Mid Wales Housing Association today accused estate owners Severn Trent Water of ‘putting profit ahead of the interests of the community’ by asking too much for the properties.
The estate is currently up for sale and Mid Wales Housing had made a bid for almost 30 homes in the village of Llanwddyn, but has been told its offer was unacceptable.
Association bosses today said they were now considering withdrawing their offer.
Nobody from Severn Trent was available for comment.
Association chief executive Shane Perkins said: “I am led to believe our offer was nowhere near what they were expecting, and I fear Severn Trent Water are putting profit ahead of the interests of the community. I hope that the Welsh Government will interject on behalf of local people regardless of our involvement.
“Our bid was based upon an analysis of the affordable rental income and the likely cost of investment.
“However, it has been made clear to us that our offer is not acceptable.”
The association said it want to help people keep their homes, but felt that the changes to the details of the sale, together with the passage of time, put in question the viability of its offer.
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