Serious concerns raised over how Welsh Government bought £4.25m farm
However, in 2023 protected species - a pair of ospreys - were seen on the land. A 750-metre restriction zone around their nest was set up to protect the birds, who have since returned and laid an egg, with an admission made that 'the presence of the ospreys on the site inevitably brings some uncertainty."
The land was purchased in 2022 for £4.25m, and earlier this year the Welsh Government confirmed that its valuation had dropped to £3.75m. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here.
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A 2023 Audit Wales review looking at the farm purchase found ministers acted with "avoidable haste" as an underspend fuelled a rush to make a decision on the £4.25m purchase before the financial year's end.
Now, the Senedd's Public Accounts and Public Administration Committee has published a report which claims the purchase of Gilestone Farm was 'rushed due to end-of-year budget pressures'.
The report, published on Monday, July 28, says lessons must be learned from the purchase and that there is a need for 'urgent improvements and better governance for acquisition practices'.
Significant failings have been identified with regards to the handling of the acquisition, raising broader concerns about governance, due diligence, and community engagement.
'The committee is deeply concerned by the Welsh Government's handling of the purchase of Gilestone Farm,' said Mark Isherwood MS, the committee's chair.
'While we recognise the importance of acting swiftly to support the creative sector, this decision was taken with avoidable haste and without the thorough due diligence that the public rightly expects. It raises serious questions about internal processes and the robustness of governance structures.
'Furthermore, the Welsh Government must do more to ensure that communities are not only consulted but genuinely listened to. Engagement must be meaningful, inclusive, and consistent.
'The significant loss in the value of the property is particularly notable in the current financial climate, and we expect the Welsh Government to clarify its future intentions for the site and to set out how it will mitigate the financial loss to the public purse.
'To ensure lessons are learned, the committee will want to carry out further work looking at the Welsh Government's approach to property investments, to assess whether current processes are sufficiently rigorous and fit for purpose.'
The Welsh Government was asked to comment by WalesOnline on the issues raised above. It said it will respond fully after reading the committee's report. A spokeswoman said: 'Gilestone Farm was acquired in 2022, following proper processes and in keeping with market values at the time, in order to support the growth of the creative sector in Wales and a stronger mid Wales economy.
'We were delighted to learn in August 2023 of the arrival of the pair of mating ospreys, which returned in 2024, and again this year. Their first egg hatched in early June 2025. This is believed to be a first for the Usk Valley in at least 250 years and marks an important milestone in the protection of this important species.
'The arrival of the ospreys necessarily impacted on the planned use of the farm, and the original project had to be stopped. Gilestone remains one of the Welsh Government's property assets, and is being managed on our behalf as a working farm. We continue to explore potential opportunities for its future use, in keeping with our commitment to seek a sustainable outcome that helps local communities thrive.
'We will read the Committee's report with interest, and respond in due course.'
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