Farmer's son to make offer for Lake Vyrnwy

A farmer's son turned international property entrepreneur is to table a multi-million pound offer for the Lake Vyrnwy estate in Mid Wales.

Bala-born Rhys Jones, 41, will submit his bid for the biggest land sale in the UK in living memory to current owners Severn Trent tomorrow.

The utility group put the 23,000 acre estate - on a 125 year lease - up for sale earlier this year with a guide price of £11 million.

A number of expressions of interest have been lodged ahead of tomorrow's deadline to property adviser Knight Frank, which is acting for Severn Trent.

Mr Jones, whose Polish-based property company Celtic Property Development has a European-wide property portfolio, has assembled a locally experienced team, including his father, to spearhead his bid, which is not dependent on raising debt finance.

He said: "I am fully aware of the importance of this site to Wales and particularly local concerns about the future investment - that is why I thought long and hard before expressing an interest .

"We believe a local purchaser with experience will provide a solution which will be acceptable to local communities and all those stakeholders either directly or indirectly who have an interest in this high profile sale.

"Clearly this is a long-term commitment that I would not take on lightly but the language, the environment and Welsh rural life is important to me and my family and this will continue as we wish to hold the estate in the family.

"We want a responsible handover and we are keen to work with Severn Trent - if we are successful".

A final decision on successful bidders could be confirmed next month.