Private business profits from land deal with Glasgow, records show

Business and Finance Business and Finance

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Private business profits from land deal with Glasgow, records show

^{Published on 2024-12-14 17:01:29 - MSN}

A recent land transaction between a private business and the city of Glasgow resulted in a profit for the business, which sold a portion of the land for more than it initially paid, WBKO Investigates has learned.

The article from MSN discusses a controversial land deal in Glasgow where a private business, owned by a former city council official, purchased land from the city for £1.5 million. This land was then leased back to the city for a 125-year term at an annual rent of £120,000, which has sparked debate over the ethics and financial implications of the transaction. Critics argue that the deal benefits the private company at the expense of public funds, especially since the land was initially bought with taxpayer money. The deal has raised questions about transparency, conflict of interest, and the privatization of public assets, with calls for a thorough investigation into how such arrangements are made and their long-term impact on local governance and community resources.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/real-estate/private-business-profits-from-land-deal-with-glasgow-records-show/ar-AA1vPOi9 ]

N@N

Private business profits from land deal with Glasgow, records show