Liverpool news City council slammed for selling real estate to offshore company PremierLeague-News.Com

PremierLeague-News.Com - Land was sold to Seychelles-based company and then transferred to UK firm later the same day

Liverpool news City council slammed for selling real estate to offshore company PremierLeague-News.Com

PremierLeague-News.Com - Land was sold to Seychelles-based company and then transferred to UK firm later the same day

Liverpool news  City council slammed for selling real estate to offshore company PremierLeague-News.Com
21 February 2021 - 09:15

PremierLeague-News.Com - Breaking Sport Transfer News ! A politician has criticised Liverpool Council for selling city centre land to an offshore company owned by a property developer. According to Land Registry, Liverpool council sold 82-94 Norfolk Street to the Equity Group Limited for £925,000. Later the same day the land was transferred from the Equity Group to Vincent Hotel & Residence Developments Limited. The transfer took place on March 31 2017. Both companies are controlled by Liverpool property developer Elliot Lawless. Mr Lawless later unveiled plans to build an EPIC hotel on the land. Councillor Richard Kemp, leader of Liverpool's Liberal Democrats, has now criticised the decision to sell council-owned land to an offshore company. Cllr Kemp said: "It is a simple matter of including items in disposals which prevent the quick flipping of properties to new companies. It is even easier in the first place to ensure that the assets are sold to a local company which will keeps its assets and profits in the country. "This sale to an offshore company shows a total lack of due diligence from council staff when disposing of property. We need to ensure that the council doesn't just look for cash but understand how assets can be used to improve the economy of Liverpool." A spokesperson for Liverpool council said: "We have no comment to make on this due to ongoing legal matters." The EPIC hotel development in Liverpool's Baltic Quarter ; pic by Colin Lane Mr Lawless, owner of the Elliot Group, told the ECHO that although Equity Group was based in the Seychelles, it had been registered in the UK for tax purposes. He said: "Equity Group is registered outside the UK, although I am the sole director and shareholder and I have registered it in the UK for tax purposes and also placed its registered office in the UK. “Equity Group Ltd acquired the site because it was the contracting party to which the council had delegated authority to sell.

News source = PremierLeague-News.Com

. Liverpool council was required to consent to this transfer which it did.” Last October, a large tower crane was removed from the site of the EPIC Hotel development on Norfolk Street as the site stalled. Find out where you can receive the Covid-19 vaccine by typing your postcode below So far, investors have put in around £10m in the waterfront scheme which is being developed by the Elliot Group. Mr Lawless has said that the development stalled when investors declined to continue to put more capital into the scheme until police concluded their investigation into him. In December 2019 Mr Lawless was arrested on suspicion of conspiracy to defraud, bribery and corruption. Mr Lawless has strenuously denied any wrongdoing and has successfully challenged the legality of the warrants used by police to search his home and office. Police seized £337,342 in cash and 10,442.10 in Euros from Mr Lawless during the raid. Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here Liverpool Council’s Director of Regeneration, Nick Kavanagh, was arrested on suspicion of conspiracy to defraud and misconduct in a public office in connection with the same investigation. He has not spoken publicly since his arrest. High Court documents obtained by the ECHO have since revealed that both arrests were in relation to specific transactions involving Mr Lawless in the Toxteth area of the city. There was no reference in the court documents to land on Norfolk Street. Ten men and one woman, including Liverpool Mayor Joe Anderson, have since been arrested as part of the same police investigation into building and development contracts. Mr Anderson, who was arrested last December on suspicion of conspiracy to commit bribery and witness intimidation, denies any wrongdoing but has stepped aside from his role.

Source = PremierLeague-News.Com

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