Lake Vyrnwy sale decision delayed
Wednesday 9th February 2011, 12:56PM GMT.
A decision on the handover of the £11 million lease on the Lake Vyrnwy Estate has been delayed again, it was revealed today. The identity of the preferred buyer should have been made public this month.
But officials from Severn Trent Water, which owns the land, say they need extra time and more information before making a decision.
Knight Frank, which is handling the sale for Severn Trent, put the historic 23,315-acre Lake Vyrnwy Estate on the market in July.
The successful bidder for the land, which includes agriculture, forestry and commercial property around the lake, was then going to be announced last autumn.
But it was decided to keep plans under wraps until February. Today officials said they were now waiting until spring.
Businessman Rhys Jones, RSBP and Mid Wales Housing Association have placed bids for the land and there could be others too.
Severn Trent is currently putting bidders through “a vigorous selection process”.
Tom Raynham, from Knight Frank, said: “We are entering a crucial part of the selection process and thoroughness in choosing the correct buyers is vitally important.
“We are providing Seven Trent Water with all the information to help the process move as quickly as possible and look forward to buyers being announced in spring this year.”
A public meeting is being held in the Llanwddyn Community Centre on February 21 from 7pm.
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