Land purchased for £60m regeneration scheme
A £60m development scheme set to create 700 jobs has taken a step forward as two Staffordshire councils have agreed to buy a site.
Land owned by supermarket Sainsbury's on Liverpool Road, Newcastle-under-Lyme, will be purchased by Staffordshire County Council and Newcastle Borough Council.
Seventy-five per cent of the cost will be met by the county council after an earlier agreement between the two authorities this year through which they formed a regeneration partnership.
This is the second round of funding injected into the town in the last few months. The county council recently invested £6m to expand the IC5 development at Keele University Science Business Park, creating 125 hi-tech jobs.
Staffordshire County Council’s cabinet member for economic growth and enterprise Ben Adams said: "This development project should attract major retailers and transform Newcastle town centre, improving its vitality and ensuring that it has a healthy future.
"Our town centres can all be thriving hubs with major retailers and office developments that attract further investors and shoppers. Letting them stagnate is not an option. I am sure this site in Newcastle-under-Lyme is going to be very attractive to developers."
