First of £43m for Forge Island finalised

Rotherham Council has welcomed the approval of £1.5m from the Sheffield City Region Combined Authority (CA) to fund the purchase Forge Island – the key regeneration site in Rotherham town centre.

Currently home to an empty supermarket and a car park following the relocation of Tesco across town in 2014, it was identified as a suitable site for development of a town centre leisure hub.

The wider development incorporating Forge Island and adjacent sites could deliver a 25,000 sq ft cinema, 20,000 sq ft hotel and 6,000 sq ft of restaurants and bars.

Read on… http://www.rothbiz.co.uk/2017/02/new-5354-first-of-40m-for-forge-island.html?m=1

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4 Responses to First of £43m for Forge Island finalised

  1. Colin Tawn says:

    Where is the evidence of any business acumen in RMBC?
    2 million pounds put aside to buy the Riverside Precinct and the Magistrates Court but cutting school patrols ‘because of cost pressures’. RMBC have not demonstrated their plans are VFM.
    Sell the Precinct and the Mag.Court to a developer.
    LA’s are are not there to be property developers. They are supposed to ensure local people are adequately housed with access to good schools.That roads are well maintained and the council provides good services to anyone who needs them amongst other requirements.
    How many more high cost loans will be taken out to satisfy ego boosting vanity projects?

  2. Debz says:

    wonder if the plan is to buy all three and sell on as one unit with outline planning permission in place to raise its value …….. one can but hope

  3. S Thornton says:

    Here we go again. Not long ago under the watch of Cllr Beck, the council were involved in the purchase of two units at the Advanced Manufacturing Park. They purchased two units at a cost to the Tax payer of £4 million pound. This was at a time when they were (and still are) making cuts to front line services. £4 million pounds that could not be used for the taxpayers for several years.
    Now it seems that they are again buying more units at the AMP, whilst taking away our “lollypop” crossing staff here in Anston. So much for our Labour Councillors, Cllr Jonathon Ireland, and Kathrine Wilson shouting up for the people of Anston. I do hope they did not vote to accept the cut. How low can you go, Children`s safety or party vote !!
    You can not trust Labour to represent Anston.

  4. Caven Vines says:

    Stuart they sold the two units a couple of years ago and made less than they would if they had put the money in the building society.
    What outfit sells its assets instead of leasing them to bring in revenue which could have been used towards services they are now cutting like I gave said before business accrument of a pickled onion
    That way they can turn capital into revenue and still hold onto the asset but then again they kept bailing Magna out with no return that’s a point Magna suddenly gone quiet wonder how they are managing I think our representative on the Magna board Cllr Lelilot would like to give us taxpayers a update on our investment

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