Here are the notes from our meeting with Mark Edmonds, Technical Director of Taylor Wimpey and Mark Hadfield, Technical Director of Barratt Homes to discuss with them the issues that they are facing in completing Phase two of the Home Farm development.
The meeting was to gain an understanding from their (Taylor Wimpey and Barratt Homes) perspective the situation as they see it, so that we all might be better informed.
We understand from Taylor Wimpey, Barratt and Deloitte that a pot of money is held in an escrow account that can be called down only against specific tasks. We understand from Taylor Wimpey and Barratt that this is insufficient to cover the cost of completing the roads, sewers, paths and kerbs, etc.
Mark Edmonds outlined that Taylor Wimpey and Barratt are in the process of showing Deloitte that the “asset” that is the land on which the unmade roads and sewers etc. are, is in fact a liability. Deloitte are the administrators for Coftons the original owners of the land. Deloitte will not, according to Taylor Wimpey and Barratt, reveal the extent of the liabilities that relate to this land.
Added to this, Cambridgeshire County Council had expressed doubts that the actual finished road and sewer work completed so far was up to a standard that could be adopted. Taylor Wimpey and Barratt had to satisfy Cambridgeshire County Council that the finished parts of Phase two of Home Farm roads and sewers had been completed to an adoptable standard. We understand from Taylor Wimpey and Barratt that this is now done and Cambridgeshire County Council are satisfied with the work.
Taylor Wimpey and Barratt Homes are now getting competitive tenders for the finishing of roads, kerbs, paths and sewers etc so that they can be brought up to an adoptable standard. This is scheduled to be done by Christmas 2010.
This can then be shown to Deloitte to show that the work and the land is a liability and then we understand that negotiations can start to allow this work to be completed.
Taylor Wimpey and Barratt Homes have agreed to give the Home Farm Forum monthly updates on how this is progressing.
We also raised the issue of house sales falling through. Taylor Wimpey and Barratt Homes wanted to understand what issues sellers are having and to contact them so that they might help, by way of assurance to the buyers’ solicitors that the matter was in hand and being resolved. If you are facing difficulties in trying to sell or buy a house on the development please contact Mark Edmonds at Taylor Wimpey or Mark Hadfield with the particular issues you are facing.
Home Farm Forum 