• Council's £43m deal to revamp Kirkby town centre

    26/11/2019 | Blog | admin
  • Work on Kirkby town centre will see construction of a new supermarket, petrol station and a cinema.A £43m investment deal has been signed to rejuvenate a neglected Merseyside town centre and end 20 years of delay.

    Knowsley Council is buying land and shops from a developer in Kirkby, after years of private sector plans to regenerate the town fell through.The authority said it will now fund the redevelopment of 87 shops and 12 acres of land, potentially creating 500 jobs.

    Developer St Modwen decided to abandon its plans after choosing to move away from owning town centre sites.Work will begin on 9 December and will also see the construction of a new supermarket, petrol station and a cinema.’Shared frustrations The council will hope the deal marks the end of a 20-year saga in which private developers have promised to regenerate the town, only for private companies to pull out, the Local Democracy Reporting Service said.

    The council will fund the development by borrowing the initial sum from the Public Works Loans Board and then repaying the cash from rental income and the eventual sale of some of the land.

    Council leader Graham Morgan said: “We are now in a position to be able to bring forward the retail development which our residents need, and which we promised.”We have always been committed to regenerate Kirkby town centre and we have shared the frustrations of many of our residents over the years. “This is the single biggest property investment which the council has ever made.”

    Thanks to The BBC News for the post:- https://www.bbc.co.uk/news/uk-england-merseyside-50510125