Bratton Fleming Station
It was with great disappointment that the directors of Exmoor Associates learned on Thursday morning (16 April 2020) that the vendors of Bratton Fleming Station had accepted an undisclosed offer from an unnamed third party. This is especially sad as our booked viewing of the station had been cancelled on 24 March by the agent, with a promise to reschedule once the COVID-19 pandemic had receded and more normal times resumed.
Since the station came on the market unexpectedly in early March, EA had made contact with the vendors and had been preparing to raise funds for its purchase. Various ideas have been discussed; any notion of taking on a mortgage was quickly dismissed, as the monthly repayments would have far exceeded any possible rental income. This left a couple of options … either a time-share issue, (but this has been tried before with Distant Point (Chelfham) and Rowley Moor Farm – so perhaps that idea has already had its day?) …
…. or forming a subsidiary company, provisionally to be called, ‘Friends of Bratton’.
Several shareholders had pledged substantial sums – and EA was well on its way to raising the asked for ‘Offers in excess of £325K’ when the bad news arrived. While we do hold cash reserves, allowing us to respond quickly when former trackbed becomes available, these were far short of the £300K+ required; it was felt proper to wait until all the funding was secure before a formal offer was made.
We are maintaining contact with various other landowners over their stretches of trackbed, so there is movement behind the scenes, despite long periods of apparent inactivity.