One property developer is rather regretting a purchase, in fact he is looking to sell it for any price.
George Braithwaite had bought a large water tower for £330,000 in 2006 but is looking to sell after plans for a restaurant, flats and a museum have all be shot down.
After spending eight years and over a million pounds on attempting the develop the Essex landmark known as ‘jumbo’ he has given up.
While Colchester council officers recommended Mr Braithwaite’s plans, councillors rejected his scheme.
‘I’ll sell it at auction at whatever price I can get – but I’m disappointed for the people of Colchester as much as myself.’
The tower was built in 1883 and takes it name from a famous elephant from the same period.
It was finally decommissioned after 104 years of service in 1987.
‘Jumbo’ is to be sold at auction on May 29 with no reserve price.
The Balkerne Tower Trust is attempting to raise money to buy Jumbo. www.savejumbo.org.uk
26 May 2014 | 6:31 pm – Source: metro.co.uk