Hot properties go cold
May 25 2009
Edinburgh City Council’s emergency loan would be used to purchase property from the trio with repayments met met from rents as the arms length companies struggle to cover their debts with the value of their land holdings plummeting.
Parc has been beset by difficulty in shifting homes at Craigmillar and delays in bringing in a major supermarket tenant have further hampered cashflow.
Opposition groups have however criticised the move as a “smash and grab” on company assets.
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