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Opponents attack ‘greedy’ bid to buy Hale Leys Shopping Centre
A BID to buy Aylesbury’s Hale Leys Shopping Centre using public money has been branded ‘commercial greed’ following a secret meeting.
Party leaders at Aylesbury Vale District Council were this week given the thumbs up to explain how their members had voted in a secret meeting before Christmas.
But they were still barred from naming Hale Leys, despite numerous sources within the council confirming the subject of the talks.
The leader at AVDC told the Herald this week that buying the land – which is not named on any documents available to the public – was a sound financial decision, and said he was confident the authority was following the right path.
Draft minutes of a secret meeting held on December 22 reveal that Conservative members voted in favour of allowing a property firm which the council has a 50 per cent interest in to bid for the land, while Liberal Democrats and one Labour member voted against, and two UKIP councillors abstained.
Independent Councillor Peter Cooper also voted against the proposal.
Plans to allow Aylesbury Vale Estates – a property firm half-owned by AVDC – to bid for the shopping centre passed by a majority of 31 to nine.
The Herald understands AVE is set to bid £13.75m for Hale Leys.
This week Councillor Steven Lambert, Liberal Democrat, said: “It wasn’t a must-do decision, it was a pure commercial decision.
“This wasn’t about saving jobs, this wasn’t about propping up the economy or doing something for the economy because it was at risk, this was purely commercial greed.”
He claimed his party were not satisfied with the financial case.
But AVDC leader Councillor John Cartwright, Conservative, hit back, stating: “I’m absolutely certain that the council wouldn’t vote for something that wasn’t in the interests of the people in the Vale.
“All deals are done with an eye to the future.”
Councillor Robin Stuchbury, Labour, said: “I couldn’t justify an additional ongoing commitment on top of the ones the district council has already put into the public domain.”
And Councillor Chris Adams, UKIP, said: “We just felt we didn’t have enough information to make an informed decision on, so we abstained.”
The shopping centre, which is owned by Warner Estates, was put up for sale in November.
If the deal goes ahead, the council will make a shareholder loan to AVE to fund the purchase, and will underwrite a commercial loan taken out by AVE.
The council’s borrowing limits had to be extended.
Aylesbury Vale Estates, the other half of which is owned by property firm Akeman Asset Management, has declined to comment on the plans.
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Weather for Aylesbury
Wednesday 22 February 2012
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Wind direction: South west
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Ronin
Saturday, January 14, 2012 at 02:58 PMBut AVDC leader Councillor John Cartwright, Conservative, hit back, stating: “I’m absolutely certain that the council wouldn’t vote for something that wasn’t in the interests of the people in the Vale. All deals are done with an eye to the future.” ??? I'm not too sure about that statement!
LocalBoy
Saturday, January 14, 2012 at 11:58 AMI hope Aylesbury Vale Estates Akeman Asset Management do a better job than they are doing with their joint venture with commercial units on the Rabans Lane industrial estate. Many have rotten window frames and doors, and yet if you move into one they isist that that the new tennant brings them up to scratch (which costs almost a years rent in some cases.) "The "refits" that they have carried out on some of the long empty unts are laughable. A few bodged bits of wood and a lick of paint. Now you klnow why so many are empty, some for several years. Between them the two companies do not give a monkey's and seem quite happy to see so many empty units. How the hell the council hope to attract more business into Aylesbury, or provide for small businesses (who the Government thinks can aid our economic recovery) is laughable. Give them millions to spend on their own offices, a millions on a footbridge and even more millions on a theatre and they are happy. The council, by setting up a new company (AVE) and going halves with another company (Akeman) on some of these projects can simply say "It's not down to us anymore ..." Tennants of the Hale Leys beware!
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