Shopping centre could be acquired by council to help safeguard 1,700 jobs

A plan for Freshney Place to be bought by North East Lincolnshire Council has been unveiled, as the authority looks to secure the future of Grimsby’s main shopping centre and the 1,700 jobs that go with it.

A report, to go before a special Cabinet meeting and then on to Full Council, outlines proposals to purchase the centre, which went into receivership earlier this year and is currently up for sale.

The report warns any future owner unwilling to invest in the centre would only accelerate its decline, which in turn would undermine strategic initiatives to improve the town centre and deter inward investment.

It adds that the centre makes up 60% of the town centre’s retail offer, supporting one in five jobs within that area.

And the report also states: “This move will safeguard a critical part of Grimsby town centre’s economic and community infrastructure, ensuring it retains a competitive retail and service offer, and safeguarding up to 1,700 jobs within Freshney Place and Top Town Market.

“If successful, the centre would be run by external Asset Managers with the council taking an ‘arms-length’ approach.

“The continued decline of Freshney Place would have a catastrophic impact on Grimsby town centre.

“Freshney Place is a significant asset within the Grimsby town centre, but the council has not been able to utilise it fully to enact the transformational change it seeks within the town centre.

“Therefore, besides safeguarding against the impacts of potential closure, the council’s acquisition of Freshney Place would enable it to use it as part of the wider town centre transformation more easily.”

The report outlines a plan to acquire Freshney Place using national Future High Streets Fund (FHSF) money.

The council would then bid for replacement money to continue the FHSF work at the western end of Freshney Place and Victoria Street through the ‘LUF (Levelling Up Funds) Round Two’ process.