Council eyes-up Aylesbury shopping centre
Bucks Council are looking at bidding for Friars Square.
Aylesbury's biggest shopping centre could be bought out by the council.
That is what Buckinghamshire Council are hoping for, anyway.
They are looking at putting in a bid for Friars Square, paid for by a long-term loan and £100-million already set aside.
A report which has appeared on the authority's website****** has revealed the aspiration to buy the site, which sits next to County Hall.
Its says it is important a deal is done before Christmas.
The report states:
"The Centre would be acquired as a going concern but in the longer term, presents the opportunity to be part of a significant regeneration scheme.
"There are risks for a number of reasons, associated with the acquisition... these risks need to be weighed up alongside the longer term potential of the asset, the benefits it could deliver and the significant investment that would be needed to deliver these."
Those risks have been kept confidential.
What could this lead to?
A successful bid would be financed by a Public Works Board Loan, paid back over a period of 40 years.
Bucks Council expects the site would bring in cash they need, but it could also be part of future regeneration.
Plans we have seen before show the bus station moving through to a complete remodelling of the Friarage Road and Station Way area, so this could be an important step towards those plans becoming reality.
Of course, Friars Square has seen significant changes in the past few years to redevelop the central area, main entrance and attracted new tenants.
The Council's cabinet is due to discuss the proposal next Tuesday (10/11).