Stockton Council approves £13m purchase of Billingham town centre

Summarised from 2 outlets · Updated 5 Nov, 18:10 · Archive

Stockton Council has approved a £13m purchase of Billingham town centre from its current owner to halt years of decline.

Stockton Council's cabinet approved the £13m purchase of Billingham town centre at a special meeting on 4 November. The council will buy the site from current owner Sheet Anchor Evolve, paying £2.25m above its own valuation of £10.75m. Leaders hope the acquisition will reverse years of decline caused by underinvestment from successive private owners.

Councillor Paul Rowling, the council's deputy leader and cabinet member for regeneration and resources, described the purchase as vital to restore the town centre. He said the council must either "take back control" of the area or allow it to continue declining. The council's report highlighted that "all-encompassing" public sector intervention was needed to improve the town centre's appearance, attract investment and instil community pride.

The tight timeline has influenced the decision. The council has £20m in government regeneration funding that must be spent by March 2028, making this the deadline for action. Rowling told the cabinet meeting the plans would "open a new chapter" for Billingham and described the purchase as "the only option to unlock progress".

How it is being reported

• Why £13m town centre deal is hailed as a 'once-in-a-generation opportunity'Stockton Council’s £13m purchase of Billingham town centre has been described as “only option to unlock progress”.The Northern Echo · 5 Nov, 17:30
• 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.Darlington & Stockton Times · 5 Nov, 13:59

In this story: Stockton Council · Billingham · Sheet Anchor Evolve · Paul Rowling

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