Published: 13th Nov 2019

Mansfield District Council has decided to wind down its property development company after its first and only project is completed in the New Year. The council’s executive mayor, Andy Abrahams has taken a decision to wind down Mansfield Homes, which was set up in 2014 with the aim of building about 220 two to five-bedroom homes. The original aim of the company was to sell the homes on the open market to help meet housing demands in the district n and generate income to pay for council services. It used a £8.8m loan from the council to fund its first project – Wildflower Rise – to build 23 executive homes. Work on the Wild Flower Rise homes is scheduled to be complete in the new year. Once the Wildflower Rise have been sold and the loan to the council repaid and all profits from the company shared back to the council, the company will cease trading. In a statement, … (To read the full article, subscribe below)