Stockton Council approves £13m purchase of Billingham town centre

Summarised from 3 outlets · 5 reports · Updated 5 Nov, 18:22 · Archive

Stockton Council has approved a £13m purchase of Billingham town centre from private owner Sheet Anchor Evolve to halt decades of decline.

Stockton Council's cabinet has approved a £13m purchase of Billingham town centre from private owner Sheet Anchor Evolve. The council's own valuation of the site was £10.75m, making the agreed price £2.25m above that figure. The decision came at a special cabinet meeting on 4 November, with councillors citing the need to halt the town centre's long-term decline and pave the way for future regeneration.

The town centre has been in the hands of four private owners, none of whom invested significantly in the asset. The council's report described the area as in decline for decades, with iconic structures demolished, buildings derelict or in poor condition, and anti-social behaviour affecting the site. Shopping has moved online or out of town. When the council suggested a £10m offer, Sheet Anchor Evolve gave an "extremely negative response" and indicated it would not sell for less than £13m or would otherwise market or transfer the property.

Deputy leader Councillor Paul Rowling said there were risks and opportunities with the purchase, but the overarching concern was that without "taking back control", nothing would change. He told the cabinet that the town centre was "quite run down" and that government funding had to be spent by March 2028, making this "very much the only game in town if we want to do it". He described the purchase as an opportunity to "open a new chapter" for the area.

The council will use £20m of government regeneration money to buy the land, with a further £10m from Tees Valley Combined Authority funding for a second phase of regeneration. A council report estimated the overall cost of acquiring the town centre and undertaking securing vacant possession for demolition, repair and regeneration works at approximately £30m. The regeneration programme is intended to demolish the vacant Queensway South building and the former library, improve the town centre's appearance, bring in more people and investment, and reconnect residents to the area.

How it is being reported

• Council approves £13m takeover of North East town centre to halt years of declineA proposal for Stockton Council to buy Billingham town centre for £13m has been approved by leading councillors.The Northern Echo · 5 Nov, 13:00
• Why £13m Billingham town centre sale was agreed as 'the only option to unlock progress'Stockton Council's leading members considered the risks and opportunities of 'taking back control' of the town centre at a special cabinet meetingTeessideLive · 5 Nov, 11:46
• Councillors vote to buy town centre for £13mStockton Council approves a plan to buy and regenerate parts of Billingham town centre.BBC Tees · 4 Nov, 21:28
• 'Taking back control': Stockton Council cabinet votes through plan to buy Billingham town centre for £13mLeading councillors held a special cabinet meeting to decide on the proposal to purchase the town centre from owner Sheet Anchor EvolveTeessideLive · 4 Nov, 20:42
• Billingham town centre owner was 'unwilling to dispose of asset for less than £13m', report saysA report to Stockton Council's cabinet sets out the authority's account of how it came to a £13m proposal to buy Billingham town centreTeessideLive · 3 Nov, 13:51

In this story: Stockton Council · Billingham · Sheet Anchor Evolve · Paul Rowling · Tees Valley Combined Authority

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