Looking to secure its future, at an Extraordinary meeting of Chesterfield Borough Council on Wednesday 10 February 2021, councillors voted in favour of acquiring the leasehold of The Pavements Shopping Centre in Chesterfield.
The council said the move would help it shape Chesterfield’s Southern Gateway and build on plans for the town centre.
The decision is subject to further due diligence and agreement of terms.
Councillor Tricia Gilby, Leader of Chesterfield Borough Council, said: “The Pavements Shopping Centre plays a pivotal role in welcoming shoppers and visitors to Chesterfield town centre.
“Assuming we are successful in acquiring the leasehold, the council will be able to control the future direction of the shopping centre; shape the Southern Gateway to Chesterfield town centre; and build on the council’s many other ambitious plans for the town centre.”
Chesterfield Borough Council currently owns the land (the freehold) on which the shopping centre is built but the leasehold is held by a successor company to the CIN Pension Fund which originally built The Pavements back in the early 1980’s. The council then manages and operates the shopping centre through an under-lease arrangement between the leaseholder and the
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