'Eyesore' Thameside House sold for half its original value sparking furious row over £5m 'loss'

The controversial sale was narrowly approved at a full council meeting on October 9, despite warnings from some councillors that the deal would represent a multimillion pound loss for taxpayers.

The Staines building, which has sat empty since 2018, was originally bought under a now-abandoned investment scheme with hopes it could be turned into affordable housing.

But after years of inaction and mounting costs councillors have now sold it off to an unnamed buyer.

The council said the sale will save £2.5m a year in loan interest, business rates and security costs, which have been draining taxpayer money since the building was purchased.

Not everyone was convinced. Cllr Darren Clarke slammed the move, saying: “You can put a bow on it […] but if it looks faecal, smells faecal and tastes faecal then let’s call it what it is: a turd.

“I cannot vote for this loss of £120 per household in the borough. So much could have been done on this site already.”

Cllr Med Buck was equally scathing and accused the council of writing off public money without answers.

“The so-called investment has turned into a liability,” he said.

“It’s not the officers nor the advisor or the consultant. It’s not even the councillors who voted for it at the time. It’s the residents of Spelthorne, the hardworking taxpayers who bear the cost for or for that loss.”

Leader of Spelthorne council, Cllr Joanne Sexton, backed the move saying the local authority was following government direction to sell off unused assets and reduce debts.

Defending the decision, Cllr Howard Williams said the sale made financial sense after years of delay.

“We’ve been procrastinating for about seven years on the site and we need to make a decision,” he said.

Cllr Williams said the deal would allow the council to repay 94 per cent of its outstanding loan thanks to government discounts for early repayment.

The Independent Spelthorne Group member explained the council deliberately restricted the sale to developers so the buyer can only convert the existing building into housing, rather than demolishing it for a bigger scheme.

He said Spelthorne might have got “slightly” more money but less control over the development.

Ultimately the sale passed by 17 votes in favour, three against and eight abstentions.

The unnamed buyer plans to convert the existing office block into around 60 flats, the report said.