Bid for shops land
Buckinghamshire Council’s Cabinet has agreed to enter into negotiations with the current owners of Friars Square Shopping Centre, Aylesbury, with a view to buying it.
The council has already sought independent property advice on this and says every step made will subject to meticulous legal and financial considerations before any final decision is made.
Steve Bowles, Cabinet Member for Town Centre Regeneration, said: ‘While the centre would be bought as a going concern, we are considering the purchase of Friars Square shopping centre not as a retail investment but as an opportunity to acquire the land for the longer-term future use, which will allow the council to bring forward a significant regeneration scheme for Aylesbury town centre.
‘The Aylesbury Garden Town Masterplan sets out this ambitious vision for the town centre, part of which is the station quarter.’
If the bid is successful, it would be financed by a Public Works Board Loan, paid back over a period of 40 years.