Dumfries town revival group outbid at auction

The town centre properties sold for more than £140,000

A group aiming to revive a Scottish town centre has missed out at auction on properties it hoped to buy.

The Stove artists network had been in negotiations to purchase the site on Dumfries High Street for over a year.

However, the buildings were put up for auction instead and have now been sold for £142,000.

The community group thanked everyone who backed a fundraising campaign but said their bid had been "nowhere near" the purchase price.

It was hoped to use the buildings as part of plans to develop the Midsteeple Quarter

The Stove group, with backing from the Scottish Land Fund, had been in talks with owners Columbia Threadneedle Investments to buy the site as part of its wider Midsteeple Quarter project.

It had hoped to complete a deal on the properties at 113-119 High Street later this year.

Instead, it had to start a fundraising campaign ahead of the auction but it was outbid.

Matt Baker, of the Stove Network, said: "I feel a little heartbroken.

"I thought we had a reasonable shout, I thought all the signs were good," he said.

"It didn't go our way."

However, the group said it would work with anyone willing to bring investment to the town.

Columbia Threadneedle Investments welcomed the sale of the site.

"We are pleased that the property has moved on to a new owner who can hopefully revitalise it to the benefit of the local community," said a spokeswoman.