Lex Greensill ‘hurt’ by planning dispute over Cheshire eco farm

Lex Greensill has broken his silence over a bitter planning dispute that threatens his plan to establish a sustainable farm near his home in Cheshire.

As liquidators continue to sort out the wreckage of his business empire, the disgraced Australian financier is mired in a three-year battle with Cheshire West and Chester Council.

The feud revolves around Shotwick Park, 502 acres of lush English countryside adjoining his land stack in the village of Saughall.

Greensill wants to turn the land into a regenerative farm and plant a mix of crops including broccoli, cauliflower, cabbage and kale.

He grew up on his family’s sugar cane and melon farm near Bundaberg in Queensland and has described his desire to give his children a similar experience.

He has also said he is motivated by a desire to give back to the local community and do his part to tackle climate change.

Some 25 years after leaving the family farm to seek his fortune, his dream of tending the land was jeopardized.

The implosion of its shady supply chain finance firm, Greensill Capital, has fueled mistrust among villagers and councilors.

At an emergency meeting last month, the local parish council withdrew its support for his plans as it sought new assurances.

Doubts are being cast on Greensill’s intentions, with some locals fearing he may be making plans to sell some of the land to property developers. In an interview with the Australian Financial Review, the 46-year-old said he was “hurt” by the speculation.

“I live here,” he said. “If I wanted to build houses on it, I don’t think I would live right next to it.”

The local parish council in Saughall tried to allay residents’ concerns late last year by demanding that the sale contract include a clause preventing the land from being developed.

But even this guarantee has not satisfied everyone, with the parish council split between those who support Greensill’s plans and those who oppose them.

“There is a question in the village that since Greensill Capital went bankrupt, can I be trusted to do what I said?” he said, nearly two years after his company’s collapse.

“It hurts that people think that, but that’s what people are concerned about and that’s why I immediately signed a covenant.”

Row: Lex Greensill wants to convert former vicarage in Saughall, Cheshire (pictured) into a regenerative farm

There are also nagging concerns about how he can afford the estimated purchase price of more than £5 million – let alone the money to then plow into the farm and conservation project – as his company went bankrupt, owing billions to creditors.

In their annual report last summer, liquidators Grant Thornton revealed that there were more than £2.6 billion in financial claims outstanding against Greensill Capital’s London-based parent company Bundaberg.

The report also revealed that the Australian parent company had just £1.5 million in the bank at the end of April last year. Lawsuits and allegations of creditor fraud – denied by Greensill himself – linger over his failed business.

Meanwhile, he has assured locals in Saughall that the money for the farm and conservation project will come from his family farm in Bundaberg, which has a stranglehold on the local sweet potato trade.

But this also raises questions. Locals have suspected for years that the farm expansion was funded by Greensill Capital.

Greensill has been accused of shielding money from creditors by funneling money from his failed financial company to the farm run by his brother Peter. Again, the Greensill family has denied this, stating that the two companies are separate.

Greensill’s initial interest in the country stemmed from a desire to retain the view from his family home in Saughall which he shares with his English doctor, wife Vicky and two sons. Shotwick Park had been leased to local farmers by Cheshire West and Chester Council.

When it turned out that the municipality wanted to sell, Greensill was afraid that the land would not fall into the hands of project developers.

He wanted to buy the fields across the street from his house to ensure that his family could continue to enjoy unobstructed views of the Welsh mountains.

But the council was not willing to sell such a small piece of land, so Greensill decided to buy it all as a conservation project.

There may be those who wish Greensill well with his latest venture. Others may feel that a lengthy planning dispute with the district council is the least he deserves.