It’s been a roller-coaster week here in Hastings.

Since handing over the pier project to Hastings Pier Charity, the White Rock Trust has been focusing on the wider neighbourhood and on the second most challenging building in town – the old Observer Building.

 

We found out a week ago that the Observer Building was to go to auction this Friday (today!) and we have been trying to negotiate a private purchase in advance of that.

Last week we asked the receiver what it would cost to take it out of auction and on Monday we matched that offer, including a 10% deposit within 3 days. They came back and said they wanted 20% deposit – we managed to raise that as a gift from Jericho Road Solutions and Meanwhile Space CIC (who are buying Rothermere House next door).  If they had accepted this we would have to raise the rest of the money by September. If we failed, the gift from Jericho Road and Meanwhile Space would be lost. We had talked to funders and lenders to make sure there was a chance they could make the decision in time.

We thought we might have really good news on Monday night, but it was hanging in the balance. And then again on Wednesday afternoon things were looking up when we could have been in a position to bid up to £350k at auction. But when we checked the auction site it said ‘SOLD PRIOR’. We have been working flat out, but I’m sad to report that the Observer Building was sold to a private buyer for £320,000 prior to the auction.

Of course, a genuine fairy godmother might have arrived in town… it’s just not that likely.

The Observer Building has been empty for 30
years. It’s had 12 owners and as many planning permissions. The last owner is in prison for money-laundering; the bank lent too much money on it; the receiver is waiting for his fee. Last year it went through auction again and a new ‘owner’ emerged, only to disappear (losing his deposit) when it became clear how much work needs doing.

Just like the pier, there are no commercial-only solutions. It needs grant to make it commercially viable, and that means community ownership, or at least real community involvement. And as with the pier, the White Rock Trust will not give up. Didn’t we win an award for ‘dogged persistence’?!

I want to thank everyone who has been working so hard this week – especially Keith Sadler, Mark Curry, Ed Lofts, Ray Chapman, Laura Gales, Fiona Ambrose, Lorna Lloyd, and Ronan Larvor, as well as Jeremy Birch and Hastings Borough Council for their support. And also apologise to everyone at Steve Wyler’s leaving do who asked how I was and got the whole story as a rant! It’s not over, and you will all be needed again! We look forward to meeting the buyer, who is expected to complete the purchase within 20 business days.

 

Source: Spinning Plates