Last night, an emergency planning committee narrowly approved plans to cut the social housing quota by 20 flats, to create an extra £4m profit after developer Shearer Property Group claimed the £150m project would not make enough money for city backer Standard Life.

Councillors voted 6-5 in favour of slashing the quota after newbury.net first revealed that a £4m sweetener had been set aside to lure Debenhams to the site. All five Liberal Democrat councillors voted against.

The concession means that the legal agreement with Shearer can now be signed, paving the way for a compulsory purchase order.

Around 20 businesses will have to wait until a council meeting next Thursday to hear whether they will be forced off the site before construction starts next October.

However, an embarrassing council blunder publicising how much has been set aside for compensation has now been acquired by Dreweatt Neate, which is acting for the various businesses and landowners, allowing them to drive a harder bargain.

Shearer/Standard Life are offering to relocate some of the businesses where possible, but with a solicitor, gym, two hair salons, car valet, dental lab, pub, four shops, and various offices to be accommodated, many are currently looking elsewhere in the town.

However, the council is also including access rights to many neighbouring businesses in Northbrook Street, which means they will have to negotiate with the council and developer on how to receive deliveries during the three year build.

But the three council car parks in Park Way – worth around £10m – will not be included, as they are being sold to Shearer for £1. The council has been promised a cut of the parking tickets in return.