Purchase of mystery asset approved at behind-closed-doors meeting

Bruce Sinclair, Local Democracy Reporter

Senior councillors have approved the purchase of a mystery “strategic asset” in a behind-closed-doors meeting.

Members of Ceredigion County Council’s cabinet backed the acquisition after receiving confidential reports on the proposed purchase, which officers said would support the authority’s corporate strategy goals.

Members were told the acquisition would be funded through grant money already held for service improvement purposes.

A report before cabinet said details of the asset, including its identity and market value, could not be disclosed at this stage because they were “commercially sensitive”.

It stated: “The purchase of the asset, if approved, would be through grant funding already held for service improvement.”

The report added that a full Integrated Impact Assessment had not yet been completed, as the purchase would form part of a wider development and service improvement project which would be assessed at a later stage.

Little information about the asset was made available publicly.

The only detail disclosed was that it would become an additional council-owned asset, may require development work and would involve ongoing maintenance costs.

Cabinet members entered private session to discuss the acquisition before returning to public session and formally approving the purchase.

The details of the asset and the agreed sale price were contained within an exempt report that was not made available to the public.

Councillors also agreed to receive a further report once the legal process has been completed, which is expected to reveal more information about the acquisition.

Educational centre

The decision follows a similar confidential purchase approved by the council last year.

At the time, members backed the acquisition of an unspecified strategic asset during a private session, with the purchase later revealed to be Llettytwppa Farm near Lampeter.

The council paid £1.85 million for the farm, which sits adjacent to the former university campus and is now being developed as an educational centre for pupils interested in agricultural and horticultural studies.

It remains unclear whether the latest acquisition is linked to education, economic development or another council service, with further details expected once the purchase has been legally completed.