Council ensures £80million Bus Station Scheme goes ahead Potential development site in Coalville: £350k LAMBERT SMITH HAMPTON are inviting offers around £350,000 for a potential residential development site. The site - Off Highfield Street, Coalville, Leics. LE67 3BL - currently comprises a disused highways depot and associated storage buildings. The 1.3 acre site is mostly covered by tarmac and consists of a number of brick, timber and steel clad buildings. The site is considered by the Agents to be suitable for residential development, subject to planning. Offers around £350,000 are invited for the freehold interest on a conditional or unconditional basis. A copy of a letter of comfort re planning is available from North West Leicestershire District Council upon request. For more information, contact Geoff gibson at Lambert Smith hampton on 0116 204 5977 or email: ggibson@lsh.co.uk
HINCKLEY’S long-awaited Bus Station Regeneration scheme will go ahead as originally planned – thanks to the intervention of the Borough Council. Councillors decided at a meeting of the authority on 16 July 2013 that they will help to facilitate the £80 million scheme by providing the developers, The Tin Hat Partnership, with a short term rolling loan secured by bank and inter-company guarantees of £7 million. This will enable Tin Hat to complete the whole scheme, including a supermarket for Sainsbury’s, shops, car park, bus station, a Cineworld cinema, family restaurants and ‘public realm’ improvements between March 2014 and spring 2015. In addition to the loan facility, the council will also make a capital investment of £4.5million in the purchase of the freehold of the Leisure Block which includes the Cineworld cinema. The cost of this investment will be funded from future rental and business rates income. Prior to making the decision, councillors were reassured, in a report commissioned from independent consultants DTZ, who answered questions from councillors, that in the current economic climate it has become commonplace for local authorities to accept reduced payments for land receipts or to invest directly in major regeneration schemes to ensure they go ahead.
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