WDA Offering an Investment Opportunity

THE WELSH Development Agency is looking to pass on 396 acres of prime agricultural investment land at Shotwick, near Chester, Cheshire.

Because the tenancy is assignable, change of use is one of the few ways through which vacant possession can be gained. The WDA, which acquired the land from Corus a couple of years ago, has had a shot at seeking planning permission to put an industrial estate on the site, but it was turned down on the grounds that it was not required.

It is believed that anyone who invests now and sits on it for a couple of decades will be in a stronger position. The land, which produces a range of cereal and vegetable crops, adjoins an existing business park close to the bottom of the M56 motorway.

Agent J Bradburne Price & Co in Mold reports encouraging interest. “There is no guide price because we don’t want to put anyone off,” said the firm”s David Lewis. “This land is there to be sold – the WDA cannot hold on to land indefinitely because it is public money.”

 Local sources say figures of about £1m are expected, with best offers due by December 3. In the meantime, an investor will benefit from a secure rent of about £24,000 a year from the tenancy.