Bold move to secure future
Council snaps up centre for £10m
SOUTH Gloucestershire Council has bought Kings Chase shopping centre and car park in Kingswood in a £10 million deal it promises will enable it to bring new life to the high street area.
The announcement of the purchase solves the mystery of the “significant” property deal, at the heart of a £25million transformation of the town centre, which the authority has kept under wraps since February because of commercial sensitivity while negotiations concluded.
The council says it will bring about the changes needed at the shopping centre that the previous private owners failed to deliver.
It intends to carry out a consultation this summer over its "masterplan: for Kings Chase, which is set to include homes and leisure facilities as well as shops.
Council leader Cllr Toby Savage said: “I am really excited to be able to confirm that we have completed the purchase of Kings Chase shopping centre and car park, which has been the subject of many months of hard work alongside the development of a masterplan. We are extremely ambitious for the future of Kingswood and this acquisition is critical to our ability to deliver something truly transformational."
MP Chris Skidmore said: “I have been a proud advocate for the council’s Future High Streets Fund business case and was delighted to see the Government co-investing in this."