Portavadie Forestry Ltd acquire the site in £250,000 deal
Accountant French Duncan has sold the famous ghost town of Pollphail in Argyll and Bute through an administration process to Portavadie Forestry Ltd in a deal worth around £250,000.
Brian Milne and Eileen Blackburn of French Duncan were appointed join administrators of Portavadie Village Ltd in April.
Portavadie Village owned land in Portavadie on the Cowal peninsula.
Joint administrator Brian Milne said: “News that this land had been put up for sale generated a great deal of interest from a number of parties attracted by the potential of its location at Loch Fyne.
“The conclusion of its sale from administration delivers a successful outcome for all parties concerned and signals an end to the decades of this site earning the reputation as a ghost town.
“Portavadie Forestry plans to breathe new life into this site by demolishing the abandoned and dilapidated accommodation and embarking on an ambitious programme of investment, incorporating landscaping for a mixture of residential and commercial property development.”
The 25-acre site overlooking Loch Fyne has had a chequered past, having been part of a £3 million development during the UK oil boom of the 1970s as accommodation for oil rig construction workers.
Pollphail was supposed to provide housing for 500 oil workers but the development was shelved when the oil and gas sector went into decline.
Having lain unoccupied for more than 35 years, the abandoned site, located close to the Portavadie Marina complex, subsequently gained notoriety as a ‘ghost town’ and attracted the attention of urban artists and documentary filmmakers.
Property consultant CKD Galbraith handled the sale on behalf of the administrators.