Having turned down Reading Borough Council’s March bid for Reading Gaol, the Ministry of Justice has opened a new round of bids. Reading Borough Council’s previous bid of £2.6m remains on the table.
Ministry of Justice
The Ministry of Justice has seen fit to reject Reading Borough Council’s bid for the Gaol. The Ministry gave the Council just 3 months to put together the bid. They then took two months to decide that they wanted more money. The council have announced that their offer is still on the table.
After Artisan Real Estate pulling out from the purchase of reading Gaol, Reading Borough council was awarded a period of exclusivity to prepare a bid. This period has now ended. The council’s policy committee meeting on March 8th gave the council the go ahead to submit the bid.
We got an early Christmas present! Reading Borough Council will get a second opportunity to bid for the Gaol. The Ministry of Justice has given the Council a period of exclusivity to prepare a new bid. The originally successful bidder, Artisan Real Estate, pulled out of purchasing the Gaol.
Artisan Real Estate, who was successful in their bid for Reading Gaol, has pulled out of the purchase. Campaigners are hopeful that the Ministry of Justice may have a change of heart and let Reading Borough Council convert the prison into an arts and cultural hub.