BUCKINGHAMSHIRE Council could be set to splash its cash on Friars Square shopping centre in Aylesbury.

The authority’s top team will discuss the “potential submission of a bid for the acquisition” of the site at a meeting next week.

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Few details are given about the discussion, however, as the cabinet is set to go through the technicalities of the potential bid behind closed doors.

This means the press and the public will not be allowed to hear what councillors have to say as the discussion will likely lead to financial details being disclosed.

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A spokesperson for Buckinghamshire Council said: "On Tuesday 15 December, Buckinghamshire Council’s Cabinet is considering a report about the possibility of entering into negotiations with the current owners of Friars Square Shopping Centre, Aylesbury,  with a view of submitting a bid to purchase the centre.

"This will be subject to meticulous legal and financial considerations before any decision is made. If agreed the next steps will be to open negotiations with the Friars Square owners. 

"Aylesbury will continue to grow in line with the Vale of Aylesbury Plan. It is therefore important that its town centre continues to change and adapt, becoming an attractive, thriving centre for its current and new citizens."

Steve Bowles, Cabinet Member for Town Centre Regeneration at Buckinghamshire Council, added: "We want Aylesbury to become a fabulous 'go-to' place for culture, shopping, business and leisure.

"Owning Friars Square would enable us to help lead that development." 

Friars Square Shopping Centre, based at Market Square in Aylesbury, is currently owned by Rockspring and managed by Montagu Evans.