Date published: 18th June 2021
As part of North Norfolk District Council’s corporate plan commitment to financial sustainability, the decision has been taken to sell Fair Meadow House, Itteringham to release funding for alternative investments.
Following acquisition of the property in 2017 to safeguard the future of the Itteringham Community Shop and Post Office, the District Council has let the adjoining Fair Meadow House property as a holiday let. However, the layout of the five-bedroom character property with a single bathroom means that the level of return seen on the Council’s original investment falls below Council agreed policy, meaning that a review of how the asset has performed has been undertaken. This review has concluded that it would be in the best interests of local Council Tax payers if the residential property was now advertised for sale.
The decision will have no impact on the future of the shop, managed by the community of Itteringham and a much-loved asset in the area, as the Council will retain ownership of this part of the property and will remain Landlord of the shop and post office premises, which also operates as a small tearoom popular with local residents, walkers and cyclists. .
Cllr John Toye, Member for Erpingham, commented: “As ward member for Erpingham which has Itteringham as one of 9 rural parishes, I know how important these local facilities are. Itteringham community shop is at the heart of the local community providing more than just a shop. It is a real hub, central to all that goes on. I am therefore delighted that as a council making commercial decisions we will always keep these communities and our residents at the centre of what we do.”
Gil Stead commented: “I lived in the house for many years while my grandparents and parents ran the shop. I am so pleased that Itteringham village and the wider community continue to support the shop with pride, affection and commitment.
"The Team at the Shop have been informed of the sale by North Norfolk District Council and are pleased that the shop, as in the past, will be able to trade and flourish for many more years to come!"
The cottage is up for sale as a residential property through agents Sowerbys for an asking price of £699,950.
Last updated: 21st June 2021