‘Hugely significant’ Broadmarsh decision hailed
The Official Receiver’s decision to hand over control of the Broadmarsh site from stricken shopping centre owner intu is “hugely signigicant”, according to the leader of Nottingham City Council.
The decision was made public over the weekend after intu had slipped into administration at the end of June and the special property companies set up to oversee the redevelopment of the Broadmarsh were liquidated late last week.
City Council leader, councillor David Mellen, said: “The decision to disclaim the lease for the Broadmarsh centre to the council as owners of the freehold is a hugely significant step for the city.
“It means the council now has greater opportunity to start to develop a new, sustainable plan for its future.”
Mellen said that the failure of intu to complete the redevelopment of the Broadmarsh shopping centre was “a major blow.”
He added: “Broadmarsh is an extremely important site right at the heart of the city centre. It’s vital that we maximise its potential as part of the wider regeneration taking place in the city, bringing investment, creating jobs and improving the quality of life for local people.
“The withdrawal of intu from the site presents a financial challenge for the City Council at a time when our budget is under immense pressure. Equally this is a great opportunity to look again at the plans for this key site taking into account different ideas. We won’t be able to do this by ourselves and we will need to work in partnership.
“It’s good that the conversation about the future of Broadmarsh has already started in the city and we want that to continue.
“Our first priority now will be to ensure that the right of way through the centre is reopened safely as quickly as possible.”