Retirement home specialist says it will lose £2.9m if deal to buy out homeowners falls through
Churchill Retirement Living, which builds homes for the elderly, has launched a legal battle in a row over land in Woking.
Churchill is suing five people who own three properties in Maybury Road in the town over options to buy the houses.
Churchill planned to develop the three sites as housing for the elderly, and entered into option agreements with five homeowners in January 2007, according to a High Court writ.
In breach of covenant, the five refused to enter into the planning agreements, the writ says.
Churchill argues that it is entitled to specific performance of their obligations, and says that it has suffered loss of damage through their breaches of covenant. Without the planning agreements, it will lose profits of about £2.9m, the writ says.