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More Burgess Lands to be sold off

 
Created on 16/10/2017 @ 07:47
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Welshpool Town Council is set to offload another 25 acres of Burgess Lands in a bid to maximise the returns it makes from its investments.

The batch of land over Red Bank is considered ‘agricultural’ and currently only provides about 0.5% return on its potential value. It will be auctioned off on November 25.

Town Clerk, Robert Robinson, told us that the sale would “enable us to invest the money into things that will provide better returns for the people of Welshpool”.

Earlier this year we reported how a parcel of land behind the recently built development on Red Bank was being sold for £850,000 in order to build 24 new houses.

The Burgess Lands Trust was set up in 1761 with a permanent endowment to provide income for two objectives. These are the maintenance, building, extending, beautifying and repairing of the Council’s buildings and when this objective has been met then any surplus can be made available for the poor and needy.

There is a special group set up including other local Community Councils which administers the allocation of funds to the poor and needy of the area covered by the Trust.

 

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