News & Updates
TC Young advises in ground breaking Community Buy Out
T C Young have advised registered Community Body, Bute Community Land Company (BCLC), in connection with their proposed buy out of Rhubodach forest on the Isle of Bute under the Land Reform legislation.
T C Young are delighted that Islanders on Bute voted this month to support the community plan to buy almost 2,000 acres of land owned by film director Richard Attenborough. More than 2,700 people took part in the ballot with 93% voting in favour of the buy out. The vote was Scotland's biggest ever ballot on a community buyout proposal.
BCLC now needs to raise £1.4m for the purchase, which requires Scottish government approval. Once the approval from the Scottish Ministers is received BCLC will have until the end of May to raise funds and acquire title to the forest. BCLC is confident it can raise enough cash for the project.
Mark Ewing, partner of T C Young heads up the team acting for BCLC, said "T C Young are thrilled to be involved with the buy out which really is ground breaking in terms of its size and I fully expect that, following the extraordinary success of the community vote, the acquisition will be completed in the coming months.
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