Sedgemoor buys Bridgwater Retail parks
Yesterday Sedgemoor District Council used delegated powers to approve a major new investment. Cllrs McGinty, Bamsey and Slocombe signed off on the deal. This was also approved by the council’s chief legal and finance officers.
The exact details of the purchase are, you’ll be staggered to hear, considered commercially sensitive. However we can confirm that the Leggar Retail Park and the Clink Retail Park in Bridgwater will be purchased by the council. The retail parks represent a substantial chunk of the retail capacity to the north of the Town Centre and just west of the A38. It appears that for the moment at least, all the critical information relating to the cost and terms of the deal are being hidden from taxpayers.
This is certainly a welcome change in policy from a District Council in Somerset.
Until relatively recently, large sums of Somerset tax payers money have been spent on investments. However the vast majority of those investments have been in other parts of the country. In other words your taxes are contributing to the health of the economy in, for instance, the city of Worcester, Hampshire or Buckinghamshire.
Following criticism of this policy, over the last couple of months there has been an apparent change of direction. Several recent investments have been made in Somerset. South Somerset investing in Yeovil Football club’s ground for instance. Or Mendip starting a policy of investing in new social housing. The investment by Sedgemoor in retail in Bridgwater, appears to be part of this pattern.