West Lothian council sells 9m2 of land to neighbouring landlord so it can sell site to Wimpey Homes for £4m.
West Lothian council have agreed to sell a 9m2 plot of unused land for more than £1 million, making it one of the most expensive pieces of land in Scotland.
Using the maxim of ‘willing seller, willing buyer’ at its most extreme, the council struck the deal with Mr and Mrs JC Frame of Holmes Holdings in Broxburn. Mr and Mrs Frame already own an adjoining site, which they intend to sell to developers, but needed the strip to provide access. The strip of land, which runs between two houses on the Broxburn estate owned by Wimpey Homes, leads directly onto the Frames’ site. If the deal is concluded successfully, the Frames will sell the entire site for around £4 million.
Knowing how valuable the land would be, the council has hung on to the ‘ransom strip’ patiently since the original Wimpey development in 2001. The price has been agreed at £1,002,000.
Councillor Willie Dunn, who sits on West Lothian’s enterprise and development committee said: “We own bits of land all over West Lothian and it is our duty to maximise our income for the benefit of taxpayers. It’s what we call smart business, and everyone is happy with the outcome.”