Is Hanley a Risky Investment?

Following a link on a recent BBC article on if there exists a “six towns mentality

Stoke on Trent Council Leader is quoted as saying that once the City Sentral shopping centre was built on the old bus station site. “Once that is completed, if the Potteries shopping centre and other developers want to develop further businesses in the city centre then that’s a business risk that they would have to take.”

To say this after his refusal to sell land to the Potteries shopping centre, citing legal reasons as refusal, which then turn out to not exist, is frankly astounding

 

Advertisements

Conflicting Advise from Council Officers

Gerry Clarke, Principal Solicitor for Regeneration:

1.    The development agreement does not prevent or restrict competition in the City;

2.    There are no provisions in the development agreement that specifically prevent the City Council from selling any of its land (other than land within the City Sentral development site) to a competitor nor are there any provisions in the development agreement which specifically prevent the City Council from supporting the expansion of the retail offer within the City Centre.

John Betty, Interim Director, Place: City Renewal Services:

The legal advice we have received is that the sale of the City Council’s land to enable the further development of the Potteries Shopping Centre for a competing interest, without the consent of its development partner, could be construed as a breach of this clause and therefore open the City Council up to a claim from the developer for breach of contract and potential compensation for loss. Continue reading