Council changes plan to sell stake in retail and leisure redevelopment scheme

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Part of a multi-million pound town centre mixed retail and leisure redevelopment scheme that was to be sold is now to be retained by the Hinckley & Bosworth Borough Council.

Hinckley & Bosworth Borough Council had decided to sell their stake of the Hinckley development known as The Crescent late last year. However, at a meeting of the full Council last night (21 May), members voted in favour of reversing that decision and retaining the complex in public ownership.

The Council receives a net rental income of around £300,000 a year from the site which has helped to keep council tax for residents amongst the lowest in the country.

Commenting on the decision, new Council Leader, Cllr Stuart Bray said: “This was a key manifesto promise that we were determined to deliver on. Increasingly, councils up and down the country are taking steps to invest in town centre facilities to safeguard them against the challenges they face. This decision signals the Council’s commitment to Hinckley town centre as a key retail and leisure destination for local residents and visitors.”