WHY WE DIDN’T BUY ES­TATE

Glyn­l­li­fon own­ers ex­plain hitch with Plas Br­ere­ton/Plas Ty Coch deal:

Caernarfon Herald - - FRONT PAGE - Owen Hughes

THE de­vel­op­ers be­hind the col­lapsed deal to buy a Caernar­fon man­sion es­tate have an­nounced why they failed to com­plete the pur­chase of the prop­er­ties.

Paul and Rowena Wil­liams, who are un­der­tak­ing the £20m restora­tion of the nearby Glyn­l­li­fon man­sion into a lux­ury ho­tel, agreed to buy the Plas Br­ere­ton and Plas Tŷ Coch sites in Fe­bru­ary with plans to turn the es­tate into a holiday park.

But de­spite them hav­ing un­der­taken sig­nif­i­cant clear­ance work on the site, sis­ter pa­per the Daily Post re­vealed last week they had failed to com­plete on the deal af­ter miss­ing the dead­line for the fi­nal pay­ment. This saw the sale can­celled and the es­tate is ex­pected to go back on the mar­ket. The site had been on the mar­ket for £1.5m.

Now, Paul Wil­liams has re­leased a state­ment in re­sponse to the de­ci­sion.

He said: “We are very dis­ap­pointed to have to re­port that the sell­ers have re­scinded the con­tract for the pur­chase of Plas Tŷ Coch and Plas Br­ere­ton.

“We were due to com­plete the pur­chase in early Septem­ber 2018, but were un­able to, due to a re­lated sale of ours not com­plet­ing on time.

“Had our sale com­pleted as con­tracted, this would have re­leased funds for the pur­chase of Plas Tŷ Coch and Br­ere­ton as planned. We have ex­tended the dead­line to com­plete on our re­lated sale.

“We had hoped that the sell­ers of Plas Tŷ Coch and Br­ere­ton would have af­forded us the same cour­tesy, as we had re­quested a vari­a­tion to the con­tract al­low­ing us to com­plete in Novem­ber 2018. Sadly, the sell­ers de­clined our re­quest and con­se­quently the con­tract is now re­scinded.”

But he added: “How­ever, we re­main op­ti­mistic and have kept lines of com­mu­ni­ca­tion open with the sell­ers and their agents and will put for­ward a fresh of­fer to pur­chase the prop­er­ties as soon as we are in funds or our re­lated sale com­pletes.”

Patrick An­der­son, who owns Plas Br­ere­ton es­tate, said they had given the de­vel­op­ers con­sid­er­able time to get their “fi­nances in or­der”.

He said they would “re-en­gage” were their cir­cum­stances to change in the fu­ture.

The cou­ple had stated the ho­tel, lodges and homes project would be an “en­abling de­vel­op­ment” to sup­port the on­go­ing work at Plas Glyn­l­li­fon, on the out­skirts of Caernar­fon.

They have said that work on the project is con­tin­u­ing, with the restora­tion of the sec­ond floor of the South Wing now com­plete.

They have also sub­mit­ted an ap­pli­ca­tion to ex­ter­nal fab­ric re­pairs to the build­ing.

Plas Tŷ Coch and Plas Br­ere­ton have stood at the gate­way to Caernar­fon for nearly 200 years. They were once the grand homes to the rich and in­flu­en­tial – in­clud­ing the High Sher­iff of Caernar­fon­shire Thomas Turne.

● Paul and Rowena Wil­liams say they failed to com­plete the deal to buy Plas Br­ere­ton and Plas Tŷ Coch (in­sets) af­ter a re­lated sale of theirs failed to com­plete in time

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