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Council asked to subsidise Park Way
17th August 2006 9.27am
 
Developers behind Newbury’s £120m shopping mall at Park Way have been asking West Berkshire Council for extra investment to keep the project on track.

Newbury.net has learnt that Shearer Properties approached the Tory-run authority for help, after working out that there will be little profit in the venture as it stands.

Councillors were informed of the latest twist in the 20-year saga to build on Park Way on Tuesday, but we understand there’s no appetite from Market Street to prop up the flagship project.

Plans for a five-storey block of flats, up to 60 new shops, and an underground car park were approved late last year, despite opponents’ claims that the scheme was too big and brash for a historic market town.

Work on site is still scheduled for next September, and council plans to deal with the massive disruption are advanced.

 
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