Councillor urges action to attract businesses after major store closures impact the city centre.
Carmel Townsend mentioned Debenhams’ and Cineworld’s closures. She noted uncertainty about these sites and mentioned payments to Friars Walk owners. The council pays up to £500,000 yearly, covering rental income shortfalls.
Council leader Dimitri Batrouni says they meet with Friars Walk owners who seek new tenants. Others show interest, but details stay private. He hopes for good news, as foot traffic rose 2.6%.
A council spokesperson discussed the Friars Walk deal, stating they haven’t paid the full subsidy every year. Even with full payments, they still profit overall. The council expects extra rent if profits exceed certain levels.
Townsend acknowledged the slight foot traffic increase. In January, Batrouni discussed regeneration plans, but he kept details vague then too. He said the council supports business and will share plans in summer.