Councillors vote to buy town centre for £13m

Councillors have voted to buy parts of a "run down" town centre for £13m.

Members of Stockton Council approved a plan to buy and regenerate areas of Billingham town centre from private owner Sheet Anchor Evolve (SAE), which includes demolishing the vacant Queensway South building and the former library.

Councillor Paul Rowling said there were risks and opportunities with the project, but an overarching concern was that without "taking back control", nothing would change. SAE declined to comment at this stage.

The council valued the land and buildings at £10.75m, but it was felt meeting the asking price of £13m would allowed work to move forward.

A council report said "all-encompassing" public sector intervention was needed to "reinvigorate and rejuvenate the town centre", improve its appearance, bring in more people and investment and instil pride in the area.

It said the local authority considered factors including income, risks, legal advice and value for money in meeting SAE's £13m asking price, £2.25m over a £10.75m general market pricing given to the council.

The report said: "The estimated overall cost of acquiring Billingham town centre and undertaking a programme of securing vacant possession for demolition, repair and regeneration works is approximately £30m."

It also said the council wanted to "develop a scheme to rationalise and shore up retail provision and develop other uses for the town centre".

The council will use some of a £20m government grant to buy the land and draw up a full business case.

It will also use £10m of Tees Valley Combined Authority (TVCA) funding for a second phase of regeneration.

Rowling said the town centre was "quite run down" and government funding, which would be used to buy it, needed to be spent by March 2028, "so this is very much the only game in town if we want to do it".

He also said successive private owners had failed to invest in the town centre which had formerly been the "beating heart" of the area.

He told the cabinet meeting: "Now is the time to take action and ensure that Billingham is looking to the future."

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