Peebles trust fails in bid to buy historic estate

A bid by a community trust to buy a Borders estate has been rejected.

The Peebles Community Trust (PCT) attempted to buy Kingsmeadows Estate from owners Standard Life.

It was on the market at a price of £2.5 million and selling agents said it had attracted considerable interest since being put on the market in July.

PCT co-ordinator Crick Carleton said they had been informed this week their bid had not been accepted.

"We do not at this stage know who the successful bidder is, or what their intentions are for the estate," he added.

The bid had received support from the Can Do Towns Innovation Challenge which aims to help revitalise town centres across Scotland.

It planned to turn the setate into a commercial venture with alternative accommodation such as bothies and glamping facilities.

A cycle path, pedestrian bridge link to the town centre and fishing were also part of the plan.

The estate was for sale in two lots - one comprising a mansion house and lodge house and 17 acres of land including tennis courts and fishing rights.

The second lot included a stable block split into seven holiday cottages.