Montgomeryshire’s Vyrnwy Estate is the largest block of land to come onto the market in our times. Thousands of acres [23, 315] of farm and woodland along with homes and commercial buildings are offered with a 125 year lease for around £11m.
Mick Bates, Assembly Member for Montgomeryshire said that he hoped the sale would regenerate the local economy of the area: “I hope that the food and tourism industry will be boosted locally as a result of a sale. The estate has been sadly neglected and is in desperate need of regeneration. It would be fantastic to have more young people making their home on the estate.
“Severn Trent must leave a legacy for the community which would attract visitors and generate the local economy. Perhaps they could sponsor an annual timber symposium and create a centre for wood sculpture in Llanwddyn!
“I have spoken with officers of Severn Trent about the need for a meeting locally to enable tenants and local elected representatives to discuss their views.”
Wyn Williams, Liberal Democrat Assembly Candidate for Montgomeryshire has expressed concern about the 125 year lease and the impact a sale may have on the farming community.
Wyn said: “The sale of local farms to the highest bidder is of concern. Farmers on the Vyrnwy estate need to know that their tenure is secure and they will still be able to afford their holding after the sale. It would be best if tenants were given first refusal to purchase their holding or house. I can’t believe that a prospective purchaser will be wooed by a 125 year lease!
“I look forward to meeting with people locally to discuss their concerns about the sale. It seems bizarre that Severn Trent want to offload risk and management of the estate but not the freehold. I am keen to learn who potential bidders might be to commercially manage such a vast land holding for the next 125 years.”
Wyn added: “Members of the community deserve the opportunity to invest outright in property on the estate.”
