SNP: Fort Kinnaird sold off with no benefit to Scotland

Fort Kinnaird Shopping Centre. Picture: TSPL
Fort Kinnaird Shopping Centre. Picture: TSPL
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INCREASED income for the Crown Estate over the past year shows the sell-off of its stake in Fort Kinnaird was simply to swell Treasury coffers with no benefit to Scotland, the SNP has claimed.

The retail park was sold off for £167 million earlier this month in what the SNP branded a “brazen cash grab” after it was the only Crown Estate property not be devolved two years ago.

Figures show the Crown Estate gave £329.4m profits to the Treasury last year.

SNP MSP Richard Lochhead said: “The Crown Estate con gets even more outrageous as more details emerge.

“For the Crown Estate to announce increased profits for the last year, just weeks after selling off the most lucrative site in Scotland – two years after failing to devolve the site as it should have been – really rubs salt in the wounds.

“Make no mistake – Scotland has been swindled in this shady deal which is nothing short of asset stripping.

“All proceeds from the sale of Fort Kinnaird should come to Scotland – the Tories cannot hold money hostage when it rightly belongs to Crown Estate Scotland.”