Big risk in town centre development

CONSERVATIVE Councillors have voted against plans to extend the council-owned Market Walk shopping centre across the east end of the main Flat Iron car park.

Conservative Leader Paul Leadbetter commented "Not all councillors agreed with the plans to spend £17m on the Town Centre development."

Conservative Group voted against the development

"Whilst we support improving the town centre, to make it more attractive to shoppers and to encourage the evening economy, the Conservative group voted against the development, a scheme that would probably not be considered by a commercial developer, due to the low rate of return and associated risk."

A speculative scheme

"We consider any Town Centre investment would be better placed in developing the Market Town offer and encouraging independent specialist retailers, making Chorley a unique market town and a place people want to visit, this is the wrong development, in the wrong place, at the wrong time. In our opinion the borrowing required, to deliver this speculative scheme, makes it extremely risky and that is a risk we cannot afford to burden Chorley council tax payers with."

 

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