THE COUNCIL is set to lose hundreds of thousands of pounds more than anticipated as the sale of Easthampstead Park Conference Centre is taking longer than expected.

The delay in securing a deal for the site is set to cost Bracknell Forest Council £176,000, it was announced at a meeting of councillors on Tuesday, September 18.

Gill Vickers, executive director of delivery at Bracknell Forest Council said: "The revenue variance has been caused due to an unavoidable delay in the sale of EPCC, which is not uncommon with property transactions.

“We anticipated this pressure and planned accordingly within the council's budgets.

“No other areas of operation have been impacted and no additional capital has been committed to the site.

“We have been working as quickly as possible to finalise the sale while protecting the staff and customers.

“We are due to formally announce the buyer in the coming weeks.”

Councillors did not ask why the delay had cost so much in a Q&A session with officers after a presentation outlining revenue collection was given on Tuesday evening.

The sale of the conference centre was announced at a council meeting in April 2018.

It was announced that the site would be sold to a “experienced third party conference and hotel operator”.

Speaking in April, councillor Iain McCracken, executive member for culture, resources and public protection, said: “We are delighted the future of this important venue and its ancient woodland is set to be secured and will become even more accessible for local residents and businesses, as well as those from further afield.

“The prospective owner is a leading hotel and conference operator who will not only protect existing jobs, but also create additional job opportunities for the area.

"They will also invest significantly in the buildings and grounds to offer a comprehensive range of improved services."