North Somerset Council has joined forces with Legal and General to buy the Sovereign Shopping Centre in Weston-super-Mare. The purchase is part of the council’s commercial investment strategy and the local authority believes it will generate an income of £1m a year which will be put back into vital local public services. It also forms part of the council’s plans for the regeneration of Weston-super-Mare’s town centre, which also includes the major expansion and development of Weston College, the construction of Dolphin Square leisure complex and significant improvements to the seafront. ‘This is a bold and innovative decision that will allow us to generate a significant annual income,’ said the council’s executive member with responsibility for asset management, Cllr David Pasley. ‘In the face of diminishing government funding and cut-backs, we have to take big steps to replace the funding we depend upon to continue essential public services,’ added Cllr … (To read the full article, subscribe below)

Jamie Hailstone

Senior reporter – NewStart