Description
A PIONEERING venture between the Church and a property company has resulted in a new development at Cumnor. Oxford Diocese decided to move into the property market as a way of raising funds as part of a countrywide move to rationalise Church land and propertise to pay. But the outcome is said to be the only one of its kind. The deal, between the Oxford Diocesan Board of Finance and the developers, Hunting Gate, gives the company permission to build on Church land near the Vine pub The Hertfordshire-based company is delighted with the potential of its first joint venture with the Church, Under their partnership deal, the Diocese retains ownership of the land, the company builds and markets the properties and the proceeds from the sale are divided in an agreed formula. Terry Landsbert, secretary of the Diocesan Board of Finance, which arranged the deal. explained: This very unclerical land which originally didn’t with the job as priest of Cumnor. In order to supplement his income, the priest was able to let the land for grazing or crops, but in April 1978 the law changed and all this land was taken out of the management of the local priest and taken over by the Diocese.A PIONEERING venture between the Church and a property company has resulted in a new development at Cumnor. Oxford Diocese decided to move into the property market as a way of raising funds as part of a countrywide move to rationalise Church land and propertise to pay. But the outcome is said to be the only one of its kind. The deal, between the Oxford Diocesan Board of Finance and the developers, Hunting Gate, gives the company permission to build on Church land near the Vine pub The Hertfordshire-based company is delighted with the potential of its first joint venture with the Church, Under their partnership deal, the Diocese retains ownership of the land, the company builds and markets the properties and the proceeds from the sale are divided in an agreed formula. Terry Landsbert, secretary of the Diocesan Board of Finance, which arranged the deal. explained: This very unclerical land which originally didn’t with the job as priest of Cumnor. In order to supplement his income, the priest was able to let the land for grazing or crops, but in April 1978 the law changed and all this land was taken out of the management of the local priest and taken over by the Diocese.
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Dimensions: 16.6 x 16.6 cm
IMS SKU: SCAN-NQOX-04634246/NQOX-R-9-5
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