Make sure Swansea land not under-sold

Calls have been made to make sure land in Swansea is not potentially under-sold.

 

The call has been made in light of the recent the Welsh Assembly’s investigation into how the sale of Welsh Government land may have resulted in the taxpayer losing £15 million.

 

Craig Lawton, the Welsh Conservatives’ candidate for Swansea West at next year’s Assembly elections, has called for the Welsh Government to review the valuations of the land that is currently for sale in Swansea.

 

Mr Lawton said: "There are three units in Swansea West Industrial Estate which that Welsh Government currently has up for sale.

 

"These are valued at £190,000, £200,000, and £260,000 each.

 

"However this valuation was made over a year ago."

 

The Welsh Government currently advertises all land and property that is has for sale through the Wales Property Database which includes information about valuations.

 

Mr Lawton added "In light of the recent scandal in which it has come out that the Welsh Government sold off land in the Cardiff area and in North Wales for around £15 million less than it should have been, I would hope that the Welsh Government will be reviewing all of the property it currently has on sale.

 

"It is important that the Welsh Government gets the appropriate return for the value of the land so that the taxpayer does not lose out.

 

"If land is under-sold then it will be the taxpayer that will have to foot the bill in the long run."

 

The Welsh Assembly’s Public Accounts Committee is currently investigating the reports that the Regeneration Investment Fund for Wales (RIFW), which is wholly owned by the Welsh Government, sold off 15 sites around Wales to a Guernsey-based company South Wales Land Developments at a loss of £15 million.

 

The land was sold for £21 million however independent auditors have since reviewed the sales and advised that the actual cost should have been nearer £36 million.

 

Mr Lawton has raised concerns about the valuation of Welsh Government property currently for Sale in Swansea West Industrial Estate with Edwina Hart, Minister for Economy, Science, and Transport.