| Officials driving the scheme to erect a new shopping centre in Park Way have had to change the rules again after one of the interested parties dropped out.
Newbury.net can reveal that Slough Estates has pulled out of the bid process – just days after making it to the last three – in the latest twist for the long-running project.
It is understood Slough pulled out because the board is in the middle of selling its retail arm to Land Securities, who have a metropolitan portfolio of shopping malls.
West Berkshire Council has now invited two more bidders from the original line-up of 15. Crucially, Blue Investments is understood not to be in the running, even though it is the major landowner.
Sources close to the talks said that the council opened up the process to make sure it can get at least three detailed bids to go before councillors in November.
“It’s all about money”, said an insider, “the council has to get the best value for the car parks.”
Previous schemes for Park Way were hampered by the 22 different landowners, until Blue Investments was encouraged by councillors to begin assembling the land 18 months ago.
However, the council ditched Blue as ‘preferred bidder’ last summer, amid fears that the authority would breach local government rules unless it ran a formal tender process.
The rest of the site includes the Marks and Spencer car park and car valeting yard, plus the car park behind Swift Cleaners, and the parking strip in the middle of Park Way.
The remaining shortlisted developers are Standard Life Shearer Property and ING Real Estate, who will present to an inner circle of councillors and officials on November 6.
On schemes like these, developers must get assurances that major retailers will take the space, and insiders say British Home Stores, H&M, Gap, Top Man and Miss Selfridge are all pencilled in so far.
Whoever wins the contract will then have to wait until the council forces Blue Investments to hand over the land, which the Pangbourne developer has warned it may drag its heels on. | 
