£2m decision over Bournemouth development

1:00pm Monday 14th January 2013 in News

COUNCILLORS will decide whether or not to invest £2million in a town centre development next Wednesday.

Cabinet members will consider a proposal to invest £1m of land and an additional £1m of cash into redeveloping the Leyton Mount car park with a mix of commercial units and flats.

If agreed, its investment will be matched by £2m from development partner Morgan Sindall and £4m from the government’s Get Britain Building Fund and will effectively kickstart the town centre master vision.

The proposal went before cabinet members in December but councillors decided they wanted more information as to how their investment would be protected.

Comments(9)

BmthNewshound says...
1:36pm Mon 14 Jan 13

"councillors decided they wanted more information as to how their investment would be protected."
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Ummmm, when it comes to speculative property development I'd have thought that Cllr Beesley would have known that speculative property development is a high riskactivity. They can only mitigate that risk by trying to find buyers "off plan" rather than keeping their fingers crossed that businesses and individuals will want to buy the resulting property.
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Past history shows, however, that Beesley is happy to take risks with OUR money..... Imax, Mouchel etc, etc

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aerolover says...
2:05pm Mon 14 Jan 13

Commercial and flats? Do we need more retail units when lots now stand empty and flats? Does that mean privately owned second homes let out for high rents.
We need more council housing not more second homes for the rich.

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Isosceles says...
2:27pm Mon 14 Jan 13

'councillors decided they wanted more information as to how THEIR investment would be protected'
Perhaps the councillors should be made aware that it is not 'their investment' and that they are acting for those who provide the money, the taxpayers.

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Baywolf says...
3:51pm Mon 14 Jan 13

Instead of flats how about spending 2million on a central bus station or do the council like to see visitors dodging busses and bus congestion in order to get to what is supposed to be the town centre.

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Azphreal says...
4:36pm Mon 14 Jan 13

So out of 8 million the company has to put up 2 million so who ends up owning the properties? Who gets the rents? Why not tell us about that?

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Old Colonial says...
5:11pm Mon 14 Jan 13

Isosceles wrote:
'councillors decided they wanted more information as to how THEIR investment would be protected'
Perhaps the councillors should be made aware that it is not 'their investment' and that they are acting for those who provide the money, the taxpayers.
A very valid point. The same mindset that leads the new PCC to refer to HIS chief constable.

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Jetwasher says...
6:52pm Mon 14 Jan 13

Must be that time of year for fat brown envelops

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Bob49 says...
8:21pm Mon 14 Jan 13

Oh look children, the council are handing over (public owned) carparks to build flats on. There's a surprise.

Would that carpark be one with seaviews by any chance ?

Still fair play to them they've at least given up on the cinemas, restuarants, climbing walls and surf machines wheeze.

This time we have 'commercial units', whatever they might be - and the counciillors do at least admit it's 'their investent', not the local taxpayers investment as some naive folk might think.

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Tom 'Boscombe' Jones says...
3:46am Tue 15 Jan 13

Can I have some public owned land to play with Mr Beesley, I promise I'll be good and not mess it up this time like I did the last few times...

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