The 102 acres of land, which has been gifted by Buccleuch’s Borders Estate to Newcastleton & District Community Trust, encompasses a range of amenity sites in the village, including a multisport pitch and fitness gym and a golf course.
The agreement has been described as an “historic” moment by the Newcastleton & District Community Trust.
The land involved includes the sports complex Polysport – a multisport pitch and fitness gym - and The Holm show fields, which hosts an annual event.
These sites have already been under long-term use by the community, but formal transfer of ownership allows the Trust to find increased community uses for the land and look at potential improvements of the facilities.
In addition, a mast site has been included, which Buccleuch said would provide the community with an income.
Edward Morris, estate manager at Borders Estate, said: “We are delighted to see this transfer of land taking place and we wish the community trust every success.
“We have been in discussions for some time with groups around Newcastleton and Langholm regarding their aspirations for the local area and we are committed to helping community groups realise their aspirations where we can.”
Barbara Elborn, secretary of Newcastleton & District Community Trust, said: “This is a delightful and historic moment for local people.”