Land at Nairn's Sandown worth almost half it was in 2007
Land at the centre of an unsuccessful bid to build houses on it six years ago has reduced in value, according to a new report to Highland councillors.
Highland Council accepted a bid of more than £14m from Deveron Highland for the common good land at Sandown in 2007.
The sale was cancelled after councillors later voted against the £100m, 550-home plan for the site.
In the new report, local authority officials said an up-to-date valuation of the land was just under £6m.
The paper will be considered at a meeting of Nairn, Badenoch and Strathspey area committee next week.
In September this year, another major housing development proposed for Nairn was refused permission.
A Highland Council planning committee withdrew the permission it gave a month earlier for the 319-home Cawdor Road project.
The application was reconsidered by councillors after a mistake was made in the officials' report on the planning application.
Comments made by Nairn Suburban Community Council were incorrectly ascribed to another community group.
After re-examining the application councillors voted to refuse permission.
Scotia Homes, Barratt North East Scotland and Robertson Homes want to construct 232 houses and 87 flats on land at Cawdor Road.
Highland Council officials had recommended that the authority's south planning committee grant the project permission.
At a meeting on 20 August the committee voted in favour of the development.
One of the conditions placed on the scheme was that it should be reviewed after the first 100 homes are built.
Three days later, the local authority said the application would have to be reconsidered because of an error in the report.
Following a site visit, eight councillors voted for the motion to grant planning permission subject to a number of conditions.
However, 13 voted for refusal based on an argument that local roads would not cope with the extra traffic linked to the new houses.