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Council could buy Next development
1:50pm Tuesday 29th April 2014 in News
A COUNCIL says it is considering buying the store which will be built by Next on the current Cressex Park and Ride site.
Wycombe District Council said it is looking at the possibility of purchasing the store when it is built and leasing it back to the retailer.
The authority said: “We are considering acquiring the development to be undertaken by Next, with the benefit of a lease back to them, as a let investment.
“The value of the completed property has yet to be determined and as a proposed commercial transaction, our thoughts and discussions on this have to remain confidential at this stage.”
The existing Crest Road site will effectively be split into two parts when work to set-up an interim park-and-ride begins. WDC said this could be as early as next week and will take up to eight weeks to complete.
Construction on the two storey, 4,636 square meter Next at Home store will begin once the temporary park-and-ride facility has been finished.
The park-and-ride is expected to have a permanent home at the Handy Cross Hub project, which includes a new sports centre, a hotel, offices and a food store – strongly rumoured to be Waitrose.
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