Published Date:
16 May 2008
CITY leaders today defended their decision to accept the lowest bid for the house where economist Adam Smith lived in his final years.
An £800,000 bid from Heriot-Watt University's Edinburgh Business School to buy Panmure House has been approved by councillors.
The house, which dates from 1691, is set to be converted into a study centre for business and economics, and will include a library of early works of Smith and other Enlightenment figures.
However, a higher bid was received for Panmure House from city resident Laura Strong, who offered £955,000 and planned to restore the building with the help of award-winning conservation architect Nicholas Grove-Raynes.
City finance leader Gordon Mackenzie said: "It is clear from legal advice that the decision taken is in the best interests of the city."
Heriot-Watt's principal and vice-chancellor, Anton Muscatelli, added: "We are very encouraged by the council's decision to accept our bid and now hope for a decision by the Scottish Government which will approve our purchase."
-
Last Updated:
16 May 2008 11:24 AM
-
Source:
Edinburgh Evening News
-
Location:
Edinburgh
