The body owns Leith Docks, Rosyth dockyard and Grangemouth docks in Scotland along with other commercial interests. Their website explains that they also own 400 acres of land available for development which forms the major part of Edinburgh’s waterfront, just 10 minutes from the city centre.”
The company was valued at around £640m on the latest offer by shareholders to take over the business.
The offer was however rejected by the board headed by Charles Hammond on the basis that it fell short of the true value of the company.
So the question is that if the company is worth so much then why can they only offer £3.2m towards the cost of the trams instead of the £34m which was apparently a condition of their redevelopment of Leith Docks?
It is partly due to this that the price of the trams may have to be funded by additional borrowing of around £45m or of course the tramline will not extend to Leith at all…..will it?
