Town cashes in 1761 land bequest

The town of Welshpool will benefit from the sale of the land

Land worth millions of pounds which was left to a Powys town nearly 250 years ago has been sold for development.

The Burgess Land Trust dates from 1761 and is run as a charity by Welshpool Town Council, which acts as trustee.

Nine acres (3.6 hectares) have been bought by a housing developer for an undisclosed sum, but it is understood to run into millions.

The money from the sale will be invested and the income from that used to benefit Welshpool, said officials.

Plans for the land in Brookfield Road, which is currently earning �1,000 a year as grazing for sheep, are thought to include more than 100 houses.

An application has been submitted with Powys Council, said Welshpool town clerk Robert Robinson.

He explained that the trust was set up by an act of Parliament in 1761.

He said a few acres had been sold off some years ago, but a decision had been made to part with some more.

It will leave the trust with about 40 acres (16.2 hectares).

"Under the rules of the trust, the money from the sale will be invested and then the income from that used to renovate or maintain town buildings and benefit disadvantaged people, such as the elderly and the young," explained Mr Robinson.

"It is thought the income will be worth thousands of pounds."

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