South Holland District Council is looking to buy prime sites around Spalding that could bring the authority good rental income and give them greater control over future development.
Undeterred by a failed £840,000 bid to buy a 1.5 acre site in St Thomas’s Road – currently used by the Plumb Center and Parts Center and building supplies firm Gibbs and Dandy – they are still on the lookout for opportunities, especially where there is already a tenancy in place.
The St Thomas’s Road site adjoins Victoria Street car park, already owned by the district council, and together would have been of immense value.
Coun Gary Porter said: “We are always on the lookout for sites in the district which have the potential to be developed.
“That site would have given us a great return on our investment and put us in a good position for future town centre development discussions.”
The bid was made during an online auction at Claridge’s in London, at which the site sold for £875,000.
Coun Porter said: “We set the cap at £840,000, but we won’t know who won the bid until we see the land registry as Claridge’s will not release the information.”
A closed session was called at the last full council meeting to discuss allocating £1 million to acquire property.