GENERAL NEWS

DONINGTON HALL ESTATE PROPERTIES UP FOR SALE

THE NORTON DRAMA RUMBLES ON AND ON FOR STUART GARNER WHO OWES £14 MILLION!

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Stuart Garner, who was the sole trustee of the infamous Norton pension scheme, owes £14million to investors in his retirement scheme, and he's having to raise a few bob to reimburse his creditors by selling off his property portfolio. As you might imagine he has a few little bijou residences to his name: Donington Hall, the Priest House Hotel, Hastings House, the Lansdowne Buildings and Kings Mill Caravan Park. They are all located in 80 acres of land near the Donington Park circuit. Sanderson Weatherall agents, have been appointed to manage the sale of the portfolio of Donington Hall Estates. There are various planning permissions available for the land and properties and the agents say they have a lot of interest in them already.

Tim Simmons from Sanderson Weatherall says:

“The various properties offer scope for a wide range of uses with various existing consents for leisure, offices, industrial, and residential uses. Interested parties are encouraged to make enquiries at the earliest opportunity.”

The properties are estimated to be worth £13 million so Mr Garner will have to find an additional million from somewhere to meet his debts. Garner asserts that the Administrators of the sale of Norton motorcycles are holding £16 million from the sale of the company to Indian TVS Motor Company.

It just seems to get murkier and more complicated as the facts about Stuart Garner's business dealings come out – it has emerged that he had £8million of 'Best of British' funding and loans during his time as boss of Norton, which the UK government might be looking into! The plot thickens!

Let's just hope that Norton can bounce back under TVS and be restored to their former glory, leaving this troubled time and Garner's dodgy dealings well behind them!

TOPICS: NORTON
Posted by Lucy England
for Wemoto News on 14 July 2020 in General News

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