Money from the maintenance fund will provide a vital source of income for future conservation work on the site.
It has called on the government to set up an emergency capital highways maintenance fund, as it did following the floods which hit swathes of the country in summer 2007.
The ceremony was followed by a charity garden party for 400 people in the grounds of The Prebendal, with all money raised going to the Bomber Command Memorial Maintenance Appeal Fund.
In addition to purchasing the land, the trust said the money would also be used to create paths, open up views of the river and produce interpretation material, as well as fund ongoing maintenance.
The employers generally fund the development and maintenance of the child-care centers and subsidize the services in order to lower costs for employees.
The Pentagon says it needs the extra money to cover higher maintenance and fuel costs as well as to fund new military health-care benefits.
CNN: Sources says Pentagon to get $6.5 billion more for this year
The Ludlow Town Walls Trust said it was planning to make a fresh bid to the Heritage Lottery Fund to help pay for the maintenance work.
The suggestion that they fund a replacement for the Educational Maintenance Allowance (EMA), a grant for teenagers scrapped by the government in England, has gone down badly.
The charity, which cares for 2, 000 miles of canals, rivers and docks in England and Wales, can pay for the repair bill from its contingency fund but this will divert money from other essential maintenance and improvement works.
Mr Byrne said young people were being hit by a "triple whammy" as the government scrapped Education Maintenance Allowances (EMAs), increased university tuition fees and abolished the Future Jobs Fund - which Labour say would have created 200, 000 jobs.
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