Formally launched by the King’s and Lord Treasurer’s Remembrancer (KLTR) on 1 March 2024, the Ownerless Property Transfer Scheme (OPTS) removes the obstacles normally associated with bringing ownerless property back into use.

Similar to Community Asset Transfers, OPTS transfers require strong local support and a solid business case, ensuring clear public interest and community benefits. A panel of advisers evaluates each transfer.

The council paid just £1 – and covered KLTR’s external costs – for the abandoned and derelict hotel that lay empty on the corner of The Cross and High Street for more than two decades.

Preparatory work began on Monday this week, with the hotel’s chimneys demolished by hand. Heavy machinery was then brought on site to demolish the building on Tuesday. The entire site is expected to be completely levelled and cleared by tomorrow. The land will then be transformed into a green space and the community asked to take part in a consultation exercise to decide how the space should be used.

Leader of Falkirk Council, councillor Cecil Meiklejohn, said acquiring the hotel through the scheme had helped “speed up what otherwise could have been a lengthy process”.

She said: “The hotel was an eyesore that gave a negative impression of the area and was in such poor condition that it could not be renovated. As a council we were determined to fix that by taking ownership of the building and demolishing it. We’ve committed regeneration funding for Slamannan and can now work with the local community to revitalise this prominent site in the heart of the village.”

Bobby Sandeman, chief executive officer, KLTR, said: “I am delighted that the people of Slamannan will benefit from our new Ownerless Property Transfer Scheme by Falkirk Council ensuring that the site of the old Royal Hotel is used to benefit the local community. The scheme is off to a fantastic start and this demonstrates that, through excellent collaboration, ownerless properties across Scotland can be brought back into productive use at minimal cost. I look forward to seeing the completed site in due course.”