Millions of pounds is to be invested into a Powys town – thanks to a land sale which has opened the way for up to 100 new homes to be built, it has been revealed.

Welshpool Town Council has sold nine-and-a-half acres of the 50 acres of land owned by the Burgess Land Trust.

Developer Walker Sheppard now plans to build up to 100 new homes on the land at the top of Red Bank and off Brookfield Road.

Council clerk Robert Robinson, trust secretary, said the money from the sale would be invested into Welshpool projects.

He said: “We have decided to sell this land because we want what is best for Welshpool. The land is worth millions, but the Government is proposing to introduce land tax, which will affect its value substantially.

“The money will be invested into projects such as the refurbishment and repair programmes to buildings such as the Town Hall and the Armoury.

“Many other projects are also in the pipeline including projects related to the Future of Welshpool Plan.”

Mr Robinson said councillors will meet in October to discuss what residents want to see the money spent on.

Plans for the new homes may be submitted to Powys County Council as soon as May.

“The town council has owned the 50 acres of land in trust for the Burgess Land Trust since 1761.” he said

“The trust is nowadays a registered charity and it is a requirement that the trustee, which is Welshpool Town Council, ensures its assets are used to the best advantage of the charity and the town.”

Walker Sheppard was unavailable for comment earlier today.