A RYDE businessman has slammed the sale and subsequent re-purchase of St Thomas Church as an 'outrageous waste of public money'.

St Thomas Church was sold by the Isle of Wight Council three years ago for £75,000 but is now being brought by Ryde Town Council for £200,000.

George Cullen believes a better deal should have been negotiated, especially during the tough economic climate and limited interest from other buyers.

He said: "I just cannot understand how the church has increased in value by £125,000 in just three years. It represents a total waste of public money."

The individual who purchased the historic Grade II Listed building in 2017 before selling it on again has more than doubled his money on the purchase.

The church, which is disused and deteriorating, needs a further £86,000 spent on it, the town council estimates.

It will now be refurbished and the town council's youth service Network Ryde will relocate to the building, with cost met from a 30-year loan from the Public Works Loan Board.

Cllr Phil Jordan, of the town council, said: "By relocating our youth services we are saving public money. Services at the moment are at rented premises on the High Street and our business case in buying the church demonstrates a saving."

The sale is imminent and could go through any day.

The church is protected by planning protections and church covenants.

An Isle of Wight Council spokesperson said: "Our primary aim in passing on ownership of St Thomas Church in 2017, with the support of Ryde Town Council, was to secure the future of this historically important and symbolic building in the heart of Ryde.

"The price agreed reflected that aim as well as the significant limitations on future uses of the building because of its Grade II Listed status.

"The church was scheduled for disposal by the Isle of Wight Council from 2014 onwards. It was marketed for £100,000 from March 2016 but with little response.

"Eventually the price paid was £75,000 which we believed then and now was a fair price.

"The building could have been purchased by Ryde Town Council, but they did not at that time choose to make an offer, and were supportive of the sale."

A Ryde Town Council spokesperson said: "I can confirm we agreed to purchase the former St Thomas Church building for £200,000 from the current owner.

"The property was marketed by a local estate agent and following negotiations with the vendor's agent, the council agreed to purchase at that price.

"We have undertaken public consultation and the majority of respondents were in favour of acquiring the building."

"The scale of the building will enable us to offer an increased range of services for Ryde’s young people with comparable costs. The purchase also facilitates RTC preserving one of Ryde’s landmark heritage buildings for the community securing its future."

The church was rebuilt in 1827 for George Player, whose family owned a lot of land in Ryde.

It ceased to be used in 1959 and fell into disrepair, before being rescued by the Friends and then Trust of St Thomas.