Buckinghamshire Council seeks to purchase the Friars Square Shopping Centre in Aylesbury

Buckinghamshire Council has taken the next steps to purchase the Friars Square Shopping Centre in Aylesbury.

On Tuesday 15th December 2020 Buckinghamshire Council’s Cabinet agreed to enter into negotiations with the current owners of the Friars Square Shopping Centre, Aylesbury with a view to purchasing the centre.

The Council has already sought independent property advice on this and every step made will subject to meticulous legal and financial considerations before any final purchase decision is made.

Steve Bowles, Cabinet Member for Town Centre Regeneration at Buckinghamshire Council, said: ‘Whilst the Centre would be bought as a going concern, we are considering the purchase of Friars Square shopping centre not as a retail investment but as an opportunity to acquire the land for the longer-term future use which will allow the council to bring forward a significant regeneration scheme for Aylesbury town centre.

The Aylesbury Garden Town Masterplan sets out this ambitious vision for the town centre, part of which is the station quarter.‘

Further information on the Aylesbury Garden Town Masterplan can be found at https://www.aylesburygardentown.co.uk/masterplan.

If the bid to purchase the shopping centre is successful it would be financed by a Public Works Board Loan paid back over a period of 40 years.

*Source of article : Press release from Buckinghamshire Council.