Hill Paul still standing but bulldozers are ready

The contract between Hill Paul Regeneration Ltd, the company set up to save the building last year, and owners Harper Homes expired yesterday, Tuesday, January 8.

The company had agreed to raise £1.3 million for the Cheapside site but despite the best efforts of all involved failed to reach that target.

It had, however, found a developer who was prepared to buy Hill Paul and the surrounding site for £1.1 million - provided it could get planning permission.

Mr Bushell rejected the offer, saying he was not prepared to accept the reduced sum and wait to find out whether the developer would be allowed to build on the site.

But on Monday Tony Nares, secretary of Hill Paul Regeneration Ltd, told the News & Journal the battle was not over yet.

"There's life in the old dog yet," he said. "We still getting the various parties together."

He said the company was hopeful that a meeting could be arranged this week between Mr Bushell, the potential developers and the company's solicitors to try to secure an 11th hour agreement.

"Malcolm Bushell is still saying he wants all his money and won't give an extension of time but I think the directors (of Hill Paul Regeneration Ltd) remain firmly convinced this is the best deal he will get for the site."

Ron Birch, a spokesman for campaigners who have been looking at alternative ways to come up with a rescue package for the landmark building, said group members had all but exhausted their options and had no magic wand to wave.

"All we can do is hope that Mr Bushell sells the site without knocking the building down," he said.

"It's difficult to see what advantage there is in not doing that - several developers have been interesting in buying it with Hill Paul still intact."

The group held an emergency meeting on Tuesday night as the News & Journal went to press to see what avenues were left to explore.

For more on this story and more, see this week's Stroud News & Journal