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Taxpayers are facing the consequences of a failed festival site purchase, as it has been revealed that a farm bought with public funds has decreased in value by £500,000. Gilestone Farm in Powys, originally acquired for £4.75m, was intended to support the owners of the Green Man festival. However, plans were abandoned when ospreys began nesting on the site, causing concerns over the acquisition process and prompting calls for a review.
Former economy minister Vaughan Gething expressed joy in early 2024 as two ospreys took up residence at Gilestone Farm. Despite initial enthusiasm, the discovery of the nesting birds led to the project’s cancellation, preventing the expansion of the Green Man festival to the new location. Gething, who later served as first minister that year, denied allegations of financial mismanagement.
The proposed use of the farm by a company linked to Green Man’s director was criticized by opposition parties for lacking a clear business plan at the time of purchase. The unexpected presence of the ospreys led to restrictions around their nest, impacting potential events at the site. It was revealed that the rush to spend remaining funds before the end of the financial year played a significant role in the decision to acquire the property.
A report from the Senedd’s public accounts and administration committee highlighted shortcomings in the acquisition process, citing a lack of thorough research and ineffective communication with stakeholders. The Welsh government’s delayed disclosure of information regarding the purchase and its implications further complicated the situation. As the site’s value dropped to £3.75m, the committee called for a review of the decision-making process and urged officials to address the significant loss incurred by taxpayers
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