LEADING accountant, French Duncan, has sold the famous ‘ghost town’ of Pollphail in Argyll and Bute through an administration process to Portavadie Forestry Limited for the sum of £250,000 plus VAT.
The sale follows the appointment in April of French Duncan’s Brian Milne and Eileen Blackburn as joint administrators of Portavadie Village Limited, which owned land in Portavadie on the Cowal peninsula.
Overlooking Loch Fyne with views towards the Mull of Kintyre, the 25-acre site has had a chequered past, having been developed during the UK oil boom of the 1970s as accommodation for oil rig construction workers.
Having lain unoccupied for more than 35 years, the abandoned site, located close to the Portavadie Marina complex, subsequently gained notoriety as a ‘ghost town’ and attracted the attention of urban artists and documentary filmmakers.
Property consultants, CKD Galbraith, handled the sale on behalf of administrators Brian Milne and Eileen Blackburn of French Duncan.
Milne said: “News that this land had been put up for sale generated a great deal of interest from a number of parties attracted by the potential of its location at Loch Fyne.
The conclusion of its sale from administration delivers a successful outcome for all parties concerned and signals an end to the decades of this site earning the reputation as a ghost town.
“Portavadie Forestry Limited now plans to breathe new life into this site by demolishing the abandoned and dilapidated accommodation and embarking on an ambitious programme of investment, incorporating landscaping for a mixture of residential and commercial property development.”
ENDS
For further information please contact David McGinness on tel 0141 221 2984
Issued on behalf of French Duncan by Liquorice Media tel 0141 561 4018 www.liquorice-media.com
Date 8th November 2012.
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