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Letter: Cathedral Should Look For A Sustainable Income from Stag Hill Development
Published on: 4 Jan, 2017
Updated on: 4 Jan, 2017
From Mark Kohl
The Stag Hill development is an ideal chance for the church to practice what it preaches. Land within walking (and cycling) distance of the town centre, railway station, hospital, research park, sports park, vet school and university could easily be a no car parking development with a mix of rented social, affordable and sheltered housing.
The rental income would be a forward looking, sustainable income for the upkeep of the money-pit Cathedral. If they just flog it off to a developer then they will get the money just once.
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Responses to Letter: Cathedral Should Look For A Sustainable Income from Stag Hill Development
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"Found any?" - "Nope, it all looks green to me!" (See Opinion: The Future is Congested, the Future is Grey)
Martin Elliott
January 4, 2017 at 1:14 pm
The Cathedral did state last year, residual capital after repairs would be used to purchase an annuity to generate an ongoing revenue stream.
Nobody however has illustrated what such an income that would generate in present financial markets, nor compared it the revenue generated from an estate of rented accommodation.