SEVERN TRENT ANOUNCES PREFERRED BIDDER FOR LAKE VYRNWY LEASES

Severn Trent is pleased to announce that United Utilities and RSPB Cymru are their joint preferred bidders for the substantial agricultural holdings (lots 1 & 2) at Lake Vyrnwy and that FIM Sustainable Timber & Energy LP  is the preferred bidder for the commercial woodland (lot 3) on the estate.

The preferred bidders with Severn Trent Water will now enter into a three month statutory consultation with Countryside Council for Wales over the details of the sale with a view to concluding arrangements by the autumn.  We will also be in dialogue with Forestry Commission for Wales and other regulatory bodies. 

Ted Pearce, director of property at Severn Trent said:

“Securing the long-term future of the Vyrnwy estate has been our key objective throughout this process.  We have taken time to reach a decision about preferred bidders using a robust selection process to ensure that the bidders are the right ones for the community, the environment and the future development of the estate.

“We believe that the preferred bidders have demonstrated and will continue to demonstrate during the consultation process their ability to meet these objectives and will provide the best future for the site.”

A United Utilities spokesperson said: "We are delighted to have been selected as a preferred bidder in partnership with the RSPB, but recognise the process may have several months to run before any contract can be awarded.

"We are passionate about protecting wildlife, promoting biodiversity and delivering wide public access on our catchment land in the north west of England, and hope we get the opportunity to bring that expertise and enthusiasm to the Vyrnwy estate too.

"We will be consulting closely with local communities and special interest groups to develop our plans, if we are successful in our bid."

Katie-Jo Luxton, director of RSPB Cymru commented:

“RSPB Cymru is immensely proud of its long association with Lake Vyrnwy.  As soon as we are in a position to do so, we look forward to working alongside United Utilities in engaging with the local community and other stakeholders, opening a dialogue with them on mutual opportunities and the potential shape of the management and visitor offer in the area which will ensure a sustainable future for the estate”.

FIM is the alternative investment specialist in commercial forestry and renewable energy. Director Colin Lees-Millais said: “We have a proven track record in forestry investment and management.  This would be a fantastic addition to the timber fund’s portfolio.”