Andrew RT Davies has today said ‘questions are piling up’ over the Welsh Government’s acquisition of Gilestone Farm, as a prospectus valued the farm at £3.25 million, which is £1 million less than the Welsh Government paid for it.
It comes as the Auditor General for Wales has been asked to investigate the Welsh Government’s purchase of the farm.
In response to a written question from Andrew RT Davies, Economy Minister Vaughan Gething said on the 23rd May 2022 that Welsh Government purchased Gilestone Farm for £4.25 million, and said ‘this is below market value’.
However, a prospectus published by chartered surveyors McCartney’s dated April 2020 valued the farm at £3.25 million.
It has also been noted that, according to Natural Resources Wales’ flood map, a great deal of the land at Gilestone is at risk of flooding.
Commenting, Andrew RT Davies said:
“The Economy Minister says that £4.25 million is ‘below market value’ for Gilestone Farm, but back in 2020, the farm was valued at £1 million less than that.
“That’s a huge increase in value for a farm that is mostly situated on a designated flood plain.
“The questions are piling up. We need to hear a statement from the Minister as soon as possible to shed some light on this on this murky acquisition.”