The Conservative Group of Councillors at Sedgemoor whilst disappointed that Tesco have not chosen to invest in Bridgwater are none the less pleased with the outcome of the negotiations in severance of the agreement.
The sum of £5.3 million for Sedgemoor is only slightly less than the originally agreed sale figure and considerably more than the site’s value on the open market: this, combined with the retention of the site, is an excellent outcome for local people.
Sedgemoor District Council will now pay off the borrowing it took out in order to build the Trinity Sports and Leisure centre.
Conservative group leader Cllr. Duncan McGinty said
“This successful outcome reflects the dedication of senior Councillors and Officers in negotiating an excellent compensation package. We still retain the site ownership with the County Council and will now look to consult on the best use of this area for the future.”