The Phoenix Four are quietly selling Studley Castle and its 18 surrounding buildings and have promised the proceeds for a trust fund for redundant Rover workers.
The Warwickshire castle has been “secretly” remortaged by Phoenix Venture Holdings and put up for sale. A spokesman said the castle was being sold to “maximise the value of the asset” CB Richard Ellis Hamptons is acting for the vendor.
Patience Weatcroft writes it looks as if there might be little left for a potential buyer of the car company than the deserted Longbridge plant. Shanghai Automotive Industry Corporation acquired the rights to build most of the company’s cars and now an Italian-American company is claiming it has the underlying rights to the design of the MG SV supercar.
References: The Times 08/06/05 page 41 (Commentary), page 48
