Major Workington land sell-off in the pipeline
Last updated at 13:16, Friday, 31 January 2014
Plans have been revealed to sell off three major tracts of council-owned land in Workington.
Allerdale council wants to sell:
- The Green, outside Allerdale House, for leisure and hospitality use
- land north of Derwent Park rugby ground, for retail use and
- land at Ashfield Road South/Ellerbeck Lane for housing.
Work has been going on behind the scenes for months by council bosses working out the details of a partnership with a land investment fund.
Leading councillors will be asked to give the partnership the go-ahead on Wednesday.
The council said its aim was to bring new jobs, retail, housing and leisure to the area and generate significant cash for reinvestment across the whole of Allerdale.
It has been working with Lucent Strategic Land Fund, an investment fund experienced in land acquisition and disposal.
Based in the Isle of Man, the firm is already working with North Lincolnshire Council to build 6,000 homes in Scunthorpe.
Potential investors have already shown interest in Workington, according to Allerdale council.
It said the three town sites chosen would be the first phase of the partnership approach, with other sites to follow.
A council spokesman said: “The aim is to create employment, regenerate disused and derelict areas, attract increased commercial investment and build new homes and businesses.
“The council invests its surplus land and shares its knowledge of the needs of its communities, while Lucent Strategic Land Fund invests money and the professional skills of its team to liaise with potential developers and secure planning permission and potential purchasers for individual sites.
“Lucent also has the commercial expertise, existing relationships with developers and investors, and the funding to take potential schemes through the planning process.”
Councillor Mark Fryer, of Allerdale council, said: “Conversations have taken place with commercial companies to assess the market.
“All the indications are that there is a high demand for investment in Allerdale, which is great news for communities, for jobs, for training and for the future of the borough.
“If this partnership is approved, Lucent Strategic Land Fund will bring the knowledge and funding to open doors with businesses. That’s something the council could not do on its own.
“We would be able to get to the right people in the commercial sector.”
The council executive will meet on Wednesday to discuss the proposal.
First published at 13:15, Friday, 31 January 2014
Published by http://www.timesandstar.co.uk
Have your say
This just makes me wonder WHY business is so interested in Workington...could it be new found money and wealth that will be heading our way from as yet undisclosed industry..new nuclear development or fracking maybe..suppose only time will tell on this one.
It'll be some backdoor dealing done behind closed doors for friends. Don't expect to see any money from it.
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