A former school in Wales is to be sold for a figure below it’s market value in order for a council to achieve their affordable housing needs.
Five years ago, Ysgol Aberdyfi in Gwynedd was closed, and it has remained that way ever since, with the site completely empty.
Now, Gwynedd Council is looking for permission to directly sell the site to Cartrefi Cymunedol Gwynedd, a housing association.
Should this be given the green light, the council will be writing off over £130,000, as in the open market, the school site – which is located in Aberdyfi, a popular holiday village – has been valued at £320,000.
However, as the plans for the site are to turn it into 11 new affordable homes, the value has dropped to £187,000.
Dewi Owen, councillor for Aberdyfi, said: “Given that all the houses will be affordable houses, I can understand that the site will not be purchased for the market value.
“The most important thing for the Aberdyfi area is for more houses to be built here. The village, shops and community will benefit from more affordable housing because the housing for sale in the village is out of the price range of the majority of local people.”
In accordance with the General Disposal Consent (Wales) 2003, the council does have a legal right to sell properties for less than their market value in cases where environmental, social or economical benefits are provided.