Wokingham Town Council says it can repay loans for Market Place regeneration four years early

Councillor says they are on track due to 'effective financial planning'

Wokingham Town Council (WTC) has revealed it will be able to repay a majority of the money borrowed for its share of the redevelopment of Market Place four years ahead of schedule.

They say that this is due to “effective financial planning”.

WTC has only been able to go ahead with the joint project to redevelop Market Place due to the funding support it has received from developer contributions. They say this has zero cost to the public purse and Wokingham council tax payers.

Its partners for the project has been Wokingham Borough Council.

Cllr David Davies, leader of the Town Council, said: “I am delighted that we have managed an early repayment of the majority of the money borrowed by the council for the redevelopment, saving interest and therefore reducing the cost in delivering this wonderful centrepiece for the town.”

After recent reports of anti-social behaviour and vandalism, the council is also looking into working with Wokingham Borough Council to introduce CCTV to the Town Centre to prevent such incidents and to help support WTC’s campaign against graffiti.

Phil Creighton

Editor of The Wokingham Paper, and has worked in local journalism for more than 20 years including the Wokingham Times, Bracknell Standard and Reading Evening Post. He's also written for computer magazines, The Baptist Times and, to his delight and probably not yours, interviewed several Doctor Whos.

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One Comment

  1. When £3.5m is spent on a project we have to see £3.5m of benefits. There is no change in the function of the market place, we still have 2 roads passing through, and we still have paving. On top of that every time I visited the town there were always orange suits doing anything but working so it’s small wonder it took so long. Back in the 50s and 60s Irish navies did the civil engineering and boy did they graft, all of them. And what do we have. Nothing more than an expensive vanity project. Add to that the disgraceful tearing down of the London Plane trees on Elm Field, which could have been kept to soften the impact of the buildings, Wokingham has been ruined and now looks like any town. They call in regeneration!! Every town needs it’s core shops such as butcher, baker, grocer greengrocer. They were driven out by high rents and rates to satisfy the supermarkets. Looking at the “new” shops in Peach Place. Only the well off could use them. We were promised a new bakery and what do we get, a London bakery with London prices. A lot of people moved to Wokingham because of it’s unique atmosphere.

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