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Burgess Land Sale raises £295,000 for Town Council

 
Created on 25/11/2017 @ 11:36
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Burgess Lands administered by Welshpool Town Council sold for £295,000 at Welshpool Town Hall this morning – just under £15,000 an acre.

The land over the top of Red Bank is for agricultural use only and was sold to enable the Town Council to re-invest the money into things that will provide better returns for the people of Welshpool.

Land was sold in two lots. A 12.66 acre plot sold for £190,000 while a 7.47acre plot sold for £105,000. On each occasion the buyer was James Evans of Halls Estate Agents on behalf of a client.

The Burgess Lands Trust was set up in 1761 with a permanent endowment to provide income for two objectives. These are the maintenance of 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.

The sale was conducted by Harry Ray & Co Auctioneers in conjunction with Balfours.

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