| AdminHistory | Throughout its lifetime the Development Corporation retained ownership, where possible, of its industrial land. If it was necessary to sell any property, the Corporation retained feu superiority so that it could control the nature of development within Livingston. As the Corporation began to look towards its dissolution in the early 1990s, it started to dispose of its assets, including its industrial estate. The considerable sums raised in these sales were used to repay the loans from the Scottish Office that had funded the Development Corporation's activities over the proceeding three decades.
In 1992 the Commercial Director advised the Board that to meet the capital expenditure forecast for 1991/1992 the Corporation was required to dispose of assets to the value of £15 million. In the then financial climate, it was suggest that industrial assets should make up the bulk of this income and, in particular, Brucefield Industrial Park was the most suitable area for disposal.
Deans Industrial Estate Southwest was part exchanged with Scottish Metropolitan for their liability in Sidlaw House, so that Sidlaw House could pass to West Lothian Council from Livingston Development Corporation without complication.
The Development Corporation sold Houstoun Industrial Estate to Highcross Ltd, a property fund manager, in September 1994. The Corporation also sold all feu superiorities to those who wished to buy the right. |