The Wellcome Trust has just released the following statement.

WELLCOME TRUST ANNOUNCES DECISION REGARDING HANLEY GRANGE
The Wellcome Trust was approached by Jarrow Investments Limited to
consider becoming a partner in the Hanley Grange eco-town submission.
The Trust has given very careful consideration to the approach and has
decided not to proceed with this proposal.  

The Wellcome Trust owns around 270 acres of land on the Hanley Grange
site.  This forms part of the Trust's overall investment portfolio from
which it funds medical research to improve human and animal health, both
in the UK and internationally.