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Lake Vyrnwy sale taking 'longer than thought'

Created on 29/11/2010 @ 15:02
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Severn Trent has admitted that the multi-million pound sale of their Lake Vyrnwy Estate is taking longer than they had originally thought.
The 23,000-acre site is believed to be worth in excess of £11m and several bidders have gone public already. But there is still no sign of a new owner being revealed.
“We have asked for further information on the offers that we received and are in the process of putting these offers through the selection criteria by which they are equally judged,” said a Severn Trent spokesperson.
“The decision on the preferred bidder(s) will be made by the Severn Trent Water board who meet on a monthly basis and then signed off prior to going through the 3 month consultation process with Countryside Council for Wales.
“This is a longer process than originally thought but it is very important to Severn Trent Water that the right buyer(s) are taken on and that they are selected in a process that takes into account a number of criteria including financial, community and environmental concerns.”
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