English Swinford toll bridge buyer kept confidential pending financial close

The new owner of the Swinford toll bridge near Oxford England won't be officially revealed until financial close, according to the auctioneer Neil Mackilligin.   All Mackilligan will say is that the buyer is a UK-based individual, who is not local to the area.

Bidding with a crowd of 700 people at Alsop's auction house in London December 3 began at pd800k ($1.28m) and the high bid was pd1.08m ($1.73m).

The 1767 bridge built by the Earl of Abingdon under a 1767 charter issued by King George III provides for ownership by the Earl, his heirs and assigns and their right to tolls "for ever".

It also makes the bridge revenues free of all taxation.

A respectable average 11k vehicles/day use the bridge.

But the downside is the UK Government controls the toll rates, presently set at the absurdly low 5p (8.2c) for cars, 50p (82c) for trucks.

Revenue is limited to about pd190k ($320k)/year.

Along with the toll bridge comes a beautiful stone tollkeeper's house.

TOLLROADSnews 2009-12-07