URL: https://ashford.moderngov.co.uk/ieDecisionDetails.aspx?ID=286

Decision Maker: Chief Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Purpose: The Park Mall shopping complex has been in a state of spiralling decline for several years and is operating at a significant loss. The Council has the opportunity to purchase the Park Mall freehold from the owner, PGIM. By securing the freehold, the Council with have full control over the onward redevelopment plans for the site, with these plans playing an important role in the wider regeneration of the town centre. Recommendation I. of Cabinet Report: Approve, subject to negotiation and completion of appropriate due diligence, the purchase of the Park Mall freehold.

Content:

Date of Decision: December 19, 2024